News & Analysis as of

China Foreign Corporations

Akin Gump Strauss Hauer & Feld LLP

US Presidential Elections 2024—What is at Stake for Swiss Companies and Investors?

The November U.S. Presidential electoral campaign is in full swing. Since President Joe Biden ended his reelection bid and Vice President Kamala Harris secured the Democratic Party nomination, polls now show a tight race...more

Skadden, Arps, Slate, Meagher & Flom LLP

Corporate Trends and Financing - March 2024

Managing Deal Risks in a Challenging Regulatory Environment: Strategies and Deal Terms With antitrust and other regulators scrutinizing mergers more closely, it is crucial for companies to negotiate terms to mitigate and...more

Skadden, Arps, Slate, Meagher & Flom LLP

Broad Reforms to China’s Company Law Will Affect Most PRC Companies

On December 29, 2023, China enacted the amended Company Law of the People’s Republic of China (Amended PRC Company Law), which will come into effect on July 1, 2024. These are some of the most significant changes to the laws...more

Latham & Watkins LLP

China Amends Foreign-Related Civil Procedure Rules

Latham & Watkins LLP on

On September 1, 2023, the Standing Committee of the National People’s Congress (NPCSC) of the PRC adopted the amendments to the Civil Procedure Law of the People’s Republic of China (the Amended CPL). The amendments...more

Cozen O'Connor

16 AGs Caution SEC Over SHEIN's Potential IPO and Alleged Business Practices

Cozen O'Connor on

Montana AG Austin Knudsen, joined by AGs from 15 other states, sent a letter to the SEC voicing concern regarding the possible Initial Public Offering of SHEIN, a fast-fashion retail giant affiliated with China....more

Mayer Brown Free Writings + Perspectives

SEC Division of Corporation Finance Releases Sample Comment Letter for China-Based Companies

On July 17, 2023, the US Securities and Exchange Commission’s Division of Corporation Finance (“Division”) released another Sample Letter (“Letter”) that outlines the disclosures that the Staff is focused on in relation to...more

K2 Integrity

Revisions to China’s Counterespionage Law and Accompanying Raids on Foreign Businesses Heighten Risks for International Investors...

K2 Integrity on

Chinese lawmakers approved revisions to the country’s counterespionage law on 23 April 2023, broadening the definition of spying and banning the transfer of any information related to national security interests (which are...more

Robinson & Cole LLP

PCAOB Confirms Complete Access to Inspect and Investigate Chinese Auditing Firms

Robinson & Cole LLP on

On December 15, 2022, the Public Company Accounting Oversight Board (PCAOB), the U.S. independent regulator of public company auditing work, announced that it has completed a test inspection of two selected auditing firms in...more

Mayer Brown Free Writings + Perspectives

PCAOB Secures Complete Access to Inspect and Investigate Chinese Audit Firms, but SEC Signals Must Remain Vigilant

Last week, the U.S. Public Company Accounting Oversight Board (“PCAOB”) announced it had secured complete access to inspect and investigate issuer engagements of audit firms headquartered in China and Hong Kong, marking the...more

Hogan Lovells

Restructuring & Special Situations 2022 Year in Review Key insolvency decisions in Hong Kong and the People’s Republic of China

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2022 has been a year which has seen significant developments in court-led corporate rescue and insolvency law reform in Hong Kong. In light of the lingering COVID19 pandemic, it was all the more important that the Hong Kong...more

Dorsey & Whitney LLP

Holding Foreign Companies Accountable Act - The Impact on Chinese Companies Listed on U.S. Stock Exchanges

Dorsey & Whitney LLP on

The Holding Foreign Companies Accountable Act (“HFCAA”)1, in December 2020 passed by the Congress and signed into law by then-president of the United States, Donald J. Trump, is one of the most influential measures in the...more

Paul Hastings LLP

New U.S. Semiconductor Technology Controls Impose Strict Burdens, and Sow Confusion

Paul Hastings LLP on

On October 7, 2022, the Commerce Department Bureau of Industry and Security (“BIS”) – the primary gatekeeper on U.S. export controls – unleashed two lengthy and highly complex sets of regulations, aimed squarely at stopping...more

Hogan Lovells

Hong Kong Court of Appeal gives boost to bondholders in significant "keepwell" victory

Hogan Lovells on

The Hong Kong Court of Appeal has dismissed a challenge to a first instance decision which recognized the Beijing administrators of the commercial arm of the Peking University group but granted only a limited stay of...more

Conyers

Hague Service, or Substituted Service, of Cayman Islands Court Proceedings: Not Just a Technical Game

Conyers on

The Cayman Islands, as a British Overseas Territory, is a party, through the United Kingdom, to the Hague Convention on the Service Abroad of Judicial and Extra-Judicial Documents in Civil or Commercial Matters (‘the Hague...more

Morgan Lewis

US-China Auditing Oversight Agreement Signals Cooperation Between Nations but Could Lead to Increased Enforcement Risk

Morgan Lewis on

Due to a recent agreement between the Public Company Accounting Oversight Board and Chinese securities regulators, many US exchange–listed companies audited by accounting firms based in mainland China and Hong Kong may be...more

Jones Day

U.S. and Chinese Regulators Sign Agreement on Access to Audit Materials

Jones Day on

In Short - The Situation: The U.S. Public Company Accounting Oversight Board's ("PCAOB") ability to inspect and investigate PCAOB-registered public accounting firms in mainland China and Hong Kong was previously restricted...more

Orrick, Herrington & Sutcliffe LLP

The U.S. and China Reach Agreement on Audit Cooperation

On August 26, 2022, the U.S. and Chinese governments reached a Statement of Protocol (“SOP”) Agreement regarding cooperation on inspecting the audit work papers of U.S.-listed Chinese companies. The SOP is the culmination of...more

AEON Law

Patent Poetry: Beyond the NDA: Using NNN Agreements in China

AEON Law on

What is an “NNN” agreement and why might you want to use one? “NNN” stands for “Non-Disclosure/Non-Use/Non-Circumvention.” An NDA is just a non-disclosure agreement (which often also includes a non-use clause) that’s designed...more

Hogan Lovells

The revision of the Chinese Anti-Monopoly Law – ‘big bang’ in merger control

Hogan Lovells on

The AML reform brings about significant changes to Chinese merger control. Modifications to the notification thresholds and clarifications on the “controlling right” concept may lead to fewer filings being required. At the...more

Paul Hastings LLP

The End of the China Initiative and the Future of U.S. Enforcement against Chinese Companies

Paul Hastings LLP on

This communication constitutes the first of our series considering the U.S. enforcement trends relating to Chinese companies. This communication focuses on how the end of the China Initiative does not signal any change in the...more

Akin Gump Strauss Hauer & Feld LLP

Navigating the Holding Foreign Companies Accountable Act – The Road to Delisting or Redemption for China-based Companies

Since March, pursuant to the new Holding Foreign Companies Accountable Act (HFCAA), the U.S. Securities and Exchange Commission (SEC) has “identified” more than 135 companies that relied on auditors headquartered in mainland...more

Houston Harbaugh, P.C.

What Corporations Need to Know: CFIUS Review is Needed Before Initiating Intellectual Property Transactions With Foreign Companies

On August 13, 2018, President Trump signed into law the Foreign Investment Risk Review Modernization Act (FIRRMA), which expanded the Committee on Foreign Investment in the Unites States’ (CFIUS) oversight scope. 31 C.F.R. §...more

Sheppard Mullin Richter & Hampton LLP

China Proposed Draft Implementing Rules for Human Genetic Resources Management

On March 21, 2022, the Ministry of Science and Technology of the People’s Republic of China published the Implementing Rules for Human Genetic Resources Management (draft for comment) (人类遗传资源管理条例实施细则(征求意见稿))(the “Draft...more

Womble Bond Dickinson

China’s Foreign Investment Law and Updated Investment Negative List: New Opportunities for Foreign Investment in China

Womble Bond Dickinson on

Foreign investment into China is governed by the new Chinese Foreign Investment Law ("Foreign Investment Law "), as well as its Implementing Rules ("Implementing Rules"), which took effect on January 1, 2020. A key feature of...more

Wiley Rein LLP

Personal Health Data at Risk of Foreign Exploitation

Wiley Rein LLP on

Issue: The U.S. Government is warning American health care entities that personal health data, including genetic information, from diagnostic tests and services could end up in the hands of foreign governments for unintended...more

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