In brief The State Administration of Foreign Exchange (SAFE) recently released the Service Trade Foreign Exchange Management Policy Q&A (part 2)1. SAFE provided clarifications on the bank procedures for processing foreign exchange payments and receipts for transfer pricing (TP) adjustments (hereinafter referred to as “Clarification”). Contents Key takeaways Background Overview…
Our lawyers present a session on Trade Focus on China as part of our 2021 Global Trade &…
Hong Kong and Mainland China are common destinations for embezzled funds In today’s global marketplace, disputes are growing…
Effective from 1 January 2021, the Shanghai Anti-Unfair Competition Regulations (“Regulations”) require all business operators in Shanghai to strengthen their internal controls and compliance management.
Our alert discusses the implications of this significant development, which is the first time that the concept of a compliance program has been introduced into Chinese laws and regulations.
Our multidisciplinary practitioners discuss the importance of the need for consumer goods and retail (CG&R) businesses to be aware of their “extended enterprise” – the complex network of third parties they depend on to develop, market and sell their products and services.
Our Hong Kong and China employment teams covered important changes and trends in employment law over the past…
On December 22, 2020, the US Commerce Department’s Bureau of Industry and Security (“BIS”) published a final rule (“Final Rule”) in the Federal Register adding 77 entities and individuals to the Entity List, including several prominent Chinese multinationals (together, the “Designees”). The Final Rule took effect on December 18, 2020. On the same day,…
Over the past two weeks, the Office of Foreign Assets Control (“OFAC”) published a series of FAQs related to Executive…
In this recording of our introductory workshop, Baker McKenzie FinTech Legal Accelerator: Cracking the Legal Code, held as…
On 10 November 2020, China’s State Administration for Market Regulation (SAMR) published draft Anti-Monopoly Compliance Guidelines for the Platform Economy (“Draft Guidelines”) for public consultation.1
The Draft Guidelines clearly signal that stronger antitrust enforcement in China’s tech sector is likely. This appears to be driven by a desire on the part of the Chinese government to rein in the growing strength of internet platforms, and to encourage a more diverse market structure.
The Draft Guidelines are expected to be finalized by the end of this year or early next year.