China’s updated Company Law (the “new Law”) took effect on July 1, 2024. First promulgated on December 29, 1993, the PRC Company Law has undergone two substantial updates during its 30 years of development, the previous one...more
China’s telecommunications regulator, the Ministry of Industry and Information Technology (MIIT), has announced a pilot scheme that would allow foreign investors to establish wholly owned subsidiaries in Beijing, Shanghai,...more
On December 30, 2020, the European Commission announced an in principle agreement with China on the terms of an EU-China Comprehensive Agreement on Investments (“CAI”). It contemplates what the Commission’s press release...more
China’s Foreign Investment Law (“FIL”) came into force on January 1, 2020, effecting far-reaching changes to the regulatory framework that has governed foreign investment in China for the last 40 years.
In many...more
Amid the uncertainty Brexit has created, foreign investors are assessing their existing and prospective investments in the UK, with particular focus on Brexit’s potential impact on EU-UK trade and labor mobility. No one has a...more
A February 2015 Morrison & Foerster client alert reported on the issuance of a new draft Foreign Investment Law (“FIL”) that, if promulgated, would institute far-reaching changes to the Chinese government’s oversight of...more
Overseas investment from China has experienced rapid growth each year in the last several years, with the Ministry of Commerce (“MOFCOM”) reporting USD735.1 billion in new investment having been deployed overseas by Chinese...more
More than twelve years after the promulgation in 2003 of the Catalogue of Telecommunications Services; the “2003 Catalogue”) China’s Ministry of Industry and Information Technology (“MIIT”) finally promulgated the amended...more
1/21/2016
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Foreign Investment ,
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Value-Added Tax (VAT)
Nine years ago, in July 2006, six different Chinese government agencies issued Opinion 171, the first of a number of circulars imposing limits on foreign investment in the property market in response to concerns about a...more
Our September 16, 2014 client alert, “Brave New World? Recent Challenges Facing Foreign IT Companies in China,” discussed efforts by the Chinese government to enforce heightened network security standards, with a particular...more
On February 3, 2015, the PRC State Administration of Taxation (“SAT”) released the Announcement of SAT Concerning Several Matters Relating to Corporate Income Tax on Indirect Transfer of Properties by Non-tax Resident...more
On January 19, 2015, China’s Ministry of Commerce (“MOFCOM”) released for public comment a draft Foreign Investment Law; “FIL”) along with an accompanying explanatory note (“Note”). The deadline for comments is February 17,...more
As we reported in our February 18, 2014 alert, China’s State Council adopted a new, more permissive approach to regulation of overseas direct investment (“ODI”) with the promulgation on December 2, 2013 of the Circular...more
As our readers know, foreign investments into the People’s Republic of China (“PRC”) are typically structured through one or more holding companies domiciled in offshore jurisdictions. Planned and implemented properly, an...more
China officially launched the China (Shanghai) Pilot Free Trade Zone (the “SHFTZ”) on September 29, 2013 and on the same day published a long-awaited and longer-than-expected “negative list” setting forth industry sectors...more
The Supreme People’s Court of China (the “Supreme Court”) rendered its final judgment on November 7, 2012, in the Haifu Investment Co., Ltd. v. Gansu Shiheng Nonferrous Resources Recycle Company Limited (“Haifu v. Shiheng”)....more