The Guide to Doing Business in China provides an introduction to selected aspects relating to investment and business operations in the People’s Republic of China under current Chinese laws and policy during the COVID pandemic, including a summary of important areas of concern to all investors in China: mergers and acquisitions, data privacy issues, antitrust and competition issues, taxation, employment, intellectual property protection, trade and import and export rules, financial services, as well as anti-bribery compliance and dispute resolution issues.
Mini vandePol, Gerald Lam and Andrea Kan of Baker McKenzie and Vivian Wu of FenXun Partners set out the framework of the various US and PRC sanction regimes, and discuss best practices for financial institutions to consider and implement.
China has approved and enacted its first Export Control Law, the first export control legislation in China aimed at regulating the export of sensitive materials and technologies from China to overseas. Jay Ruan,Ā Marcela Robledo,Ā Alison Stafford-Powell, and Vivian Wu have an insightful discussion about what is covered by this new legislation and how it can possibly affect the US-China trade relations. Our panel of experts delve into the aspects of the Export Control Law that will have an impact on the technology industry and what steps can be taken to manage these.
On 19 September 2020, the Ministry of Commerce of the Peopleās Republic of China (āMOFCOMā) issued theĀ Regulations on Unreliable Entity ListĀ (āUEL Regulationsā), which take effect on the same date. While MOFCOM has not named any specific foreign entity to be included on the Unreliable Entity List (āUELā), the UEL Regulations…
On 24 June 2020, the China Banking and Insurance Regulatory Commission (CBIRC) issued a circular on Carrying out the Follow-up Checks for the Rectification of Market Problems in the Banking and Insurance Sectors (the “Circular”). The CBIRC proposes to launch follow-up checks to review the steps taken to correct industry problems identified in the past three years following some high-profile cases, particularly in the areas of corporate governance, risk management and repeated violations of several laws and regulations.
Our alert sets out a brief summary of key “follow-up” checks outlined in the Circular and provides some practical tips that we have developed from our own experience on how companies can ensure their compliance programs satisfy the guidelines. More information can be found in our guide on 5 Essential Elements Of Corporate Compliance.
The Doing Business in China guide provides an introduction to selected aspects relating to investment and business operations in the Peopleās Republic of China (PRC or China) under current Chinese laws and policy. China is a vast country, where national laws, local regulations and implementing procedures provide a complex legal…
Chinese government authorities have recently issued a series of policies and draft amendments to push forward the establishment of the Social Credit System (SCS). Multinational companies are particularly concerned at how the SCS could affect the business operation of their Chinese subsidiaries. The following are selected developments released by various…
On March 15, 2019, the National Peopleās Congress (NPC) of the People’sĀ Republic of China (PRC) passed the Foreign Investment Law of the PeopleāsĀ Republic of China (the “Foreign Investment Law”). The Foreign InvestmentĀ Law will come into effect on January 1, 2020. The Foreign Investment LawĀ was formulated to further expand opening up…
Amendments to FCPA Corporate Enforcement Policy In March 12, 2019, the US Department of Justice (DOJ) modified the FCPA Corporate Enforcement Policy (the āPolicyā). This Policy credits corporations that voluntarily self-disclose, provide full cooperation, and demonstrate timely and appropriate remediation in FCPA matters with a presumption of declination absent aggravating…
Transparency International (TI) has just released its 2018 Corruption Perception Index (CPI)[1]. The CPI continues to be an important gauge by companies in managing corruption risks when conducting businesses in foreign countries. TI reports that the Asia Pacific region has made little progress in the fight against corruption. With an…