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International developments

  • Winston & Strawn LLP
  • -
  • China, Hong Kong
  • -
  • May 13 2013

Recently, both China and Hong Kong have taken steps to strengthen their anti-money laundering ("AML") regimes. According to Reuters, China has

A potential new boost for foreign investment in China China eliminates or simplifies certain governmental approvals

  • Winston & Strawn LLP
  • -
  • China
  • -
  • October 1 2012

Since China started to attract foreign investment in the late 1970s, one common complaint from foreign investors has been China’s bureaucratic red tape excessive regulations that subject foreign investment to prior governmental approval, which adds cost in terms of both financial resources and time

Chinese companies are encouraged to go global recent changes to the administration of external guarantees

  • Winston & Strawn LLP
  • -
  • China
  • -
  • January 19 2011

To encourage PRC companies to venture into overseas investment and business transactions, and to meet the demand by offshore invested enterprises on domestic credit support, China's State Administration of Foreign Exchanges (SAFE) issued the Notice on the Issue of the Administration of External Guarantees by Domestic Institutions (New Rule) on July 30, 2010

Renminbi settlement for cross-border trade: what to expect?

  • Winston & Strawn LLP
  • -
  • China
  • -
  • January 19 2011

With the Measures for the Administration of Trial Launch of Renminbi Settlement for Crossborder Trade (Measures) issued on July 1, 2009, China's pilot scheme on cross-border trade Renminbi (RMB) settlement was officially launched, introducing a new inter-bank settlement mechanism

China imposes its first fines on foreign firms for price-fixing conduct

  • Winston & Strawn LLP
  • -
  • China
  • -
  • January 10 2013

On January 4, 2013, the National Development and Reform Commission (NDRC), China's antitrust regulator with jurisdiction to investigate and deal with

The valuation adjustment mechanism is challenged in PRC court

  • Winston & Strawn LLP
  • -
  • China
  • -
  • August 23 2012

In 2011, a valuation adjustment mechanism (“VAM”) agreement between a private equity firm and a foreign-invested company was held invalid by the High People’s Court of Gansu

RMB settlement for overseas direct investment: China’s new step toward internationalization of RMB

  • Winston & Strawn LLP
  • -
  • China
  • -
  • April 26 2011

To support the trial program of RMB settlement for cross border trade launched in January 2009, and to facilitate RMB-denominated overseas direct investment (ODI) by domestic institutions as well as to standardize the banks' ODI RMB settlement operations, the People's Bank of China (PBC) released the Administrative Measures for Trial Program of RMB Settlement for Overseas Direct Investment on January 6, 2011 (Measures

China’s State Secret Law amendments submitted to the People’s Congress for second reading

  • Winston & Strawn LLP
  • -
  • China
  • -
  • March 12 2010

The China State Secret Law has been a source of continuing controversy for foreign investors

Preferential policy for Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone

  • Winston & Strawn LLP
  • -
  • China, Hong Kong
  • -
  • August 23 2012

On June 27, 2012, the State Council issued its Reply of the State Council on Policies Supporting the Development and Opening-up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (the “Reply”

Amendment to PRC Labor Contract Law includes significant changes regarding dispatch arrangements

  • Winston & Strawn LLP
  • -
  • China
  • -
  • February 19 2013

On December 28, 2012, the Standing Committee of the National People's Congress amended the PRC Labor Contract Law (the "Amendment"). The Amendment