Publications

  • Overall outlook on strategic investment in A-share listed companies by foreign investors

    The A-share market has shown strong resilience and anti-risk ability compared with overseas markets despite the spread of the novel coronavirus (COVID-19), according to the China Securities Regulatory Commission (“CSRC”) at a press conference on 22 March 2020. This attributes to measures taken by Chinese authorities over recent years to drive the process of further development of reform and opening up, especially by offering an improved level playing field for foreign investors in the Chinese capital markets.
  • The impact of the implementation of Mainland China’s new Foreign Investment Law on foreign-invested enterprises

    As of 1 January 2020, the Foreign Investment Law of the People’s Republic of China became effective, thus subsequently repealing the previous three laws on foreign investment in Mainland China. The FIL aims at improving the foreign investment management system, as well as to promote the liberalization and facilitation of foreign investment in Mainland China. Accordingly, the FIL has different impacts on both the existing foreign-invested enterprises and those to be established in the future.
  • The feasibility of cross-border share swap between foreign investors and Chinese A-share listed companies under the PRC Foreign Investment Law

    The New Foreign Investment Law establishes a system of pre-entry national treatment plus a negative list management for foreign investment, demonstrating China's determination to further open up and attract foreign investment. It can be expected that the regulations regarding cross-border share swap will also be further streamlined.
  • Mainland China aims at significantly revising its Antitrust Law

    The development of Mainland China’s economy has led to some new risks of anti-competitive behaviors not being substantially addressed by the 2008 Antitrust Law. This requires a reform of Mainland China’s anti-trust legal framework to ensure that certain anti-competitive behaviors could be adequately sanctioned in particular by introduction of criminal penalties, while providing more flexibility for regulatory bodies when assessing whether a merger triggers filing in Mainland China.
  • New opportunities in China's capital market: foreign capital's participation in SSE STAR Market

    SSE STAR Market is a new experimental field for the reform of China’s capital market and has far-reaching significance in solving the problem of insufficient capital support for science and technology innovation companies. We believe that for China's capital market, the establishment of SSE STAR Market will not only further strengthen financial services to the real economy, actively promote the upgrading of China’s industrial structure and realize import substitution, but also accelerate the process of A-share’s institutionalization and internationalization, and promote foreign investment in domestic science and technology innovation enterprises.