Facility Security Clearances for U.S. Subsidiaries of Foreign-Owned Companies
On Friday, SEC Chair Gary Gensler issued a statement concerning investor protection related to recent developments in China. The statement summarizes risks to US investors as a result of recent government-led developments in...more
Last month we alerted our clients to the expected impact of the Implementation Rules for the Law for Promoting Private Education (“Education Sector Implementation Rules”), which signaled a continued focus by the authorities...more
In less than six months, a new law will take effect in China that will have a major impact on foreign investment. The National Congress of the People’s Republic of China passed the Foreign Investment Law in March, three years...more
On March 15, 2019, the Chinese National People's Congress (China's legislative body) passed the new China Foreign Investment Law. The new law, a version of which was first released for comment in 2015, is intended to level...more
China presents some of the world’s most exciting opportunities, and a unique set of cultural, legal and political challenges. It has a distinct legal regime that in many respects cannot be understood by direct reference to...more
In early 2005, a subsidiary of listed Hong Kong and China Gas Company Limited (0003.HK) bought a controlling stake in a Chinese joint venture company. Initial payments were made, but then the audited financial statements...more
On 30 June 2016, the industry self-regulating body, the Asset Management Association of China published what, on the face of it, appeared to be a fairly innocuous document entitled Questions and Answers regarding the...more
For the past 20 years, Shanghai has been the home for regional headquarters (“RHQs”) for multinational companies that have extensive investments in China. By the end of 2016, 580 RHQs were established by multinational...more
Recently, the Asset Management Association of China (“AMAC”) issued a Q&A on Private Securities Fund Registration (No.10) (“Q&A No.10”), under which foreign asset managers are allowed to form a wholly foreign-owned enterprise...more
Effective 1 October 2016, China replaced its approval regime for foreign investments with a filing regime, except where such investments fall within the Negative List. Approval vs. Filing - Since China first...more
On June 30, 2016, the Asset Management Association of China (“AMAC”) released the Q&A Regarding Registration and Filing of Private Funds (No. 10) (“Q&A No. 10”), which confirmed that both wholly foreign-owned and...more
The Ministry of Industry and Information Technology Issues the First Value-Added Telecom Services License to an E-Commerce Wholly Foreign Owned Enterprise. Background - Historically, foreign investors were...more