China has issued the Regulation on Export Control of Dual-Use Items (the “Regulation”), which will take effect on December 1, 2024. The Regulation aims to provide clearer guidance for export control authorities’ law...more
On August 3, 2023, China’s National Development and Reform Commission (NDRC), the Ministry of Finance (MoF), and the National Energy Administration (NEA) jointly issued the “Notice on Full Coverage of Renewable Energy Green...more
The Public Company Accounting Oversight Board (“PCAOB”) announced on December 15, 2022 that it has secured complete access to inspect and investigate audit firms in mainland China and Hong Kong for the first time in history....more
12/22/2022
/ Audits ,
Capital Markets ,
China ,
China Securities Regulatory Commission (CSRC) ,
Corporate Governance ,
Delisting ,
Foreign Jurisdictions ,
Hong Kong ,
Listing Standards ,
PCAOB ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC)
Welcome to the Orrick Guide to Foreign Investment Reviews. This guide answers frequently asked questions regarding investment control regimes in various jurisdictions. It has been prepared by the experts in our offices...more
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
In response to a U.S. government consensus that trade with China involves grave national security risks, the Trump Administration promulgated a broad series of China-directed export controls, economic sanctions and import...more
1/28/2021
/ Biden Administration ,
Blocking Statutes ,
China ,
Economic Sanctions ,
Entity List ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Human Rights ,
Infrastructure ,
Military End Use ,
Regulatory Reform ,
US Trade Policies
On December 18, 2020, the Holding Foreign Companies Accountable Act (the “Act”) was signed into law by President Trump after it was passed unanimously by the U.S. House of Representatives on December 2, 2020. The Act is...more
1/22/2021
/ Capital Markets ,
Financial Markets ,
Foreign Corporations ,
Listing Standards ,
New Legislation ,
PCAOB ,
Publicly-Traded Companies ,
Regulatory Reform ,
Sarbanes-Oxley ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
In response to U.S. President Trump’s June 4 Memorandum calling for “firm, orderly action to end the Chinese practice of flouting American transparency requirements without negatively affecting American investors and...more
8/27/2020
/ Audits ,
Capital Markets ,
China ,
Cross-Border Transactions ,
Disclosure Requirements ,
Foreign Investment ,
Investor Protection ,
Listing Rules ,
PCAOB ,
Securities and Exchange Commission (SEC) ,
Transparency ,
Trump Administration ,
Working Groups
On May 20, 2020, the U.S. Senate passed S.945, the Holding Foreign Companies Accountable Act (“Bill”), which requires certain public companies to disclose whether they are owned or controlled by a foreign government,...more
5/31/2020
/ China ,
China Securities Regulatory Commission (CSRC) ,
Corporate Governance ,
Disclosure Requirements ,
Foreign Governments ,
Investor Protection ,
Legislative Agendas ,
Listing Standards ,
Nasdaq ,
NYSE ,
PCAOB ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
Since the beginning of the COVID-19 outbreak, the Chinese government has been concerned about the pandemic’s economic impact and swiftly adopted a range of measures to support businesses, foreign trade and investments....more
In the last three weeks, the Committee for Foreign Investment in the United States (CFIUS) has reportedly informed two Chinese companies that they must sell their stakes in two U.S. companies....more