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The PRC Civil Code (1,260 articles in total), together with the PRC Supreme Court’s eight new Judicial Interpretations on it, have entered into effect on 1 January 2021. As the result of many years of effort, the PRC Civil Code now comprehensively lays out the legal landscape for China deals for decades to come.

In this recording of our webinar, keynote speaker Mr Rimsky Yuen, GMB, SC, JP (current co-chair of the Hong Kong International Arbitration Centre and previous Secretary for Justice of Hong Kong) provides insight into the arrangements between HKSAR and the PRC regarding mutual enforcement. Then our partners, Rico Chan, Cynthia Tang and Alex Gong discuss the differences between the legal positions in Hong Kong and Mainland China and whether the new PRC Civil Code has altered where the law stands.

Topics covered:

  • PRC/HK enforcement insights
  • PRC/HK legal differences where the new Civil code makes legal changes
    • One-year limit on contract termination right
    • Judicial relief of contract variation upon major change of circumstances
    • Damages for termination of entrustment contract
  • PRC/HK legal differences whilst no legal change from the new Civil Code
    • Deposit
    • Liquidated damages
    • Disclosure/misrepresentation

Rico Chan is the Head of Baker McKenzie's China Real Estate Group and Co-head of its Asia Real Estate Group. He is also Head of the Firm's China Greater Bay Area Development. Rico has 30 years of legal experience in commercial transactions in China, particularly transactions and projects in the real estate, hotel and construction sectors. He joined the Firm in 1989 and was a resident partner of the Firm's Beijing office from 2000 to 2004. Rico has consistently been recognized as a leading lawyer in his areas of practice by Chambers Asia Pacific and Legal 500 Asia Pacific.