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AnJie Law Firm | China | 13 Apr 2021

Applicants must disclose facts when prompted by insurers to avoid rescission

When concluding insurance contracts, applicants have a duty of disclosure. However, applicants need not disclose information unless the insurer enquires. Insurers' remedy for breach of this duty varies. They can either rescind the contract and keep the premium or rescind the contract but return the premium. However, insurers have no right to rescind the contract if they underwrote it fully......
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AnJie Law Firm | China | 15 Sep 2020

WFOE shopping: how do Beijing, Shanghai and Shenzhen compare for establishing an insurance WFOE in China?

Foreign insurers cannot directly sell insurance products in China unless they have successfully established a joint venture or wholly foreign-owned enterprise (WFOE) insurer in mainland China. In light of Shenzhen's recent pilots and reforms, it is now the most favourable destination for foreign insurers seeking to establish a WFOE in mainland China.
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AnJie Law Firm | China | 10 Sep 2020

SAMR publishes leniency guidelines

The Anti-monopoly Bureau of the State Administration for Market Regulation recently published the Guidelines on Leniency for Horizontal Monopoly Agreements. The guidelines propose a relatively reliable leniency system under the Anti-monopoly Law, which is of great significance for improving the effectiveness of antitrust enforcement, while providing a valuable source of guidance for Chinese......
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AnJie Law Firm | China | 3 Sep 2020

Implications of antitrust guidelines for automobile sector on regulation of vertical restraints

China's antitrust agency's greatest competition concerns in the automobile sector relate to vertical restraints. Possibly underscoring this concern, the newly published Antitrust Guidelines on the Automobile Industry placed its main focus on clarifying issues arising therefrom. To help companies in the automobile industry better make their own assessments on antitrust compliance in China,......
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AnJie Law Firm | China | 30 Apr 2020

SAMR continues to scrutinise semiconductor mergers

China's merger review practice has not been negatively affected by the COVID-19 outbreak. According to public statistics, in the first quarter of 2020 the State Administration for Market Regulation (SAMR) completed 111 filing reviews, with a slight year-on-year growth of 0.9%. The current economic downturn raises the question of whether the SAMR will relax its antitrust scrutiny to encourage......
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AnJie Law Firm | China | 28 Apr 2020

Developments and typical disputes regarding D&O insurance in China

In early 2020, the Luckin Coffee scandal drew attention from the insurance, legal and security industries and turned the spotlight on directors' and officers' (D&O) liability insurance policies in China. With the developing pace of the security and insurance markets, the refreshed focus on D&O insurance gives Chinese underwriters plenty to contemplate.
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AnJie Law Firm | China | 27 Feb 2020

Highlights of AML draft amendment – coming changes to competition law

The State Administration for Market Regulation (SAMR) recently published the Draft Amendment to the Anti-monopoly Law (AML) for public comment. The draft amendment demonstrates the SAMR's strong stance on monopoly behaviour and is based on 12 years of antitrust enforcement. It conveys to the public that the Chinese authorities will strengthen enforcement relating to monopoly conduct. This......
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AnJie Law Firm | China | 23 Jan 2020

Antitrust in China – 2019 in review

China's antitrust enforcement agencies were reorganised in 2018. As such, new legislation and enforcement actions in 2019 attracted significant attention from practitioners and in-house counsel, with a view to gaining an insight into the new agency's enforcement trends and priorities (if any). This article underlines the most significant developments in legislation, public enforcement and......
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AnJie Law Firm | China | 21 Jan 2020

Product innovation: litigation property preservation liability insurance

In terms of premium revenue, China is the second largest insurance market in the world. However, regulators and insurers are often frustrated due to a lack of insurance innovation. In response to such frustration, litigation property preservation liability insurance has emerged and become a typical insurance solution to satisfy market demand and address unique Chinese insurance requirements......
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AnJie Law Firm | China | 7 Jan 2020

Applicability of right of subrogation in Chinese reinsurance context

Insurance subrogation is an important legal mechanism which enables insurers to reduce their losses after insurance indemnities are paid. However, opinions differ as to the application of reinsurers' right of subrogation. This article answers questions which frequently arise in this regard from a Chinese perspective.
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