Corporate Law, Mergers and Acquisitions, Financing's legal and international news

In China, as in the EU and the US, merger control has potentially been a key step for cross-border mergers, acquisitions and joint ventures.

As a concentration of economic operators can lead to a concentration of market power, economic operators must obtain merger approval from the Chinese Market Regulation Administration (the “SAMR”) for their proposed “merger” if the notification thresholds are met.

Yimin Liu of our Shanghai office explains the updates to the amended merger control regime, the practical implications and provides recommendations.

On 28 December 2021, the National Market Regulation Administration, the National Tax Office, and three other authorities jointly issued the new Delisting Guidelines, which replace and supersede the previous version dated 2019.

These guidelines outline the basic procedure for exiting the market.

Details by Yaqin Niu from our Beijing office.

In the Web 3.0 era, the applications of NFTs are not limited to digital collections.

China’s regulations on NFTs and other digital economies are different from others.

Ziping Song from our Shanghai office introduces what NFTs are and presents the possible legal issues that can be encountered in the Chinese market.

In order to encourage companies to voluntarily rectify their customs non-compliance, China’s General Administration of Customs has just issued new rules regarding administrative penalties normally applied to customs violations.

These rules will be in effect from July 1, 2022 to December 31, 2023.

Yijun Liu from our Shanghai office outlines in this brief what types of penalties are eligible for the new mechanism and gives advice to companies that want to benefit from it.

Una mayor exigencia y cautela por parte de los clientes han marcado las fusiones y adquisiciones en los últimos dos años. Lee aquí cuál ha sido la experiencia de abogados de esta firma en Alemania, Canadá, China, Chile, España, Italia, Perú y la oficina dedicada a India.

[Corporate Law] –

 Following a decree promulgated on December 28th, 2020, the State Council issued a revised regulation on registering business names (the “Provisions”). These Provisions have come into effect on March 1st, 2021, with the purpose of standardizing business name registration, protecting the legitimate rights and interests of enterprises, maintaining social and economic order, and improving the business environment. 

Xu Sissi and Isabel Moga Rella provide the highlights of these Provisions. 

In application of Law 11/2020 known as Omnibus Law, Presidential Regulation 10/2021 of February 2, 2021
(“PR 10/2021” or Positive Investment List) modifies the rules applicable to investments in Indonesia and provides incentives for certain business sectors in order to stimulate investments in the archipelago.

The experts at our Indonesia Desk give you the keys to the new Indonesian industrial classification nomenclature (“KBLI”), which classifies sectors of activity by increasing degree of access by foreign investors:

• business sectors closed to foreign investors;
• business sectors reserved for cooperatives and / or VSEs / SMEs;
• business sectors partially open to foreign investors;
• business sectors open to foreign investors; and,
• priority business sectors open to investors including foreign investors.

The Ministry of Corporate Affairs has amended the Companies (Corporate Social Responsibility Policy) Rules, 2014 (“CSR Rules”) vide the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 notified on 22 January 2021. 

The modifications concern the following rules:

• 2: definitions;
• 4: CSR Implementation;
• 7: expenditures;
• 8: CSR Reporting; and
• 9: Display of CSR activities on website.

Click on any link to discover the key features of the amendment.

The Ministry of Manpower (MOM) imposed new conditions on Employment Pass (EP) applications for overseas Intra-Corporate Transferees (ITC) meeting the requirements of the General Agreement on Trade in Services (GATS) of the World Trade Organisation (WTO) or an applicable Free Trade Agreement (FTA).