Publications

  • China to further open up foreign investment in domestic trust company

    The successive regulatory policies aim to further relieve policy constraints, achieve equal treatment for domestic and foreign investors in China, and thus accelerate the opening-up of the trust industry to foreign financial institutions and attract them to enter the market or increase investment.

  • Review on the regulatory framework and industry prospect of ‘Internet Plus’ healthcare - part 1

    Based on the regulations and practices, we are going to review on the regulatory framework for internet healthcare and try to look forward to the further development after the outbreak of COVID-19. This article is the first part on the topic of the current regulatory framework for ‘‘Internet Plus’ healthcare in China.

  • 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.
  • New FIL and its Implementation rules

    On 1 January 2020, the new Foreign Investment Law of China (FIL) and its implementation regulations came into effect, which overhauled the decades regime of the three foreign investment laws for foreign invested enterprises (FIEs) in China. With the purpose of increasing the stability, transparency and predictability of legal environment for foreign investment, the FIL and its implementation regulations are the landmark development in foreign investment legislation since China launched the reform and opening-up policy over 40 years ago, which will have significant impact on investment by foreign investors in China as well as the overall reform and opening up progress.