Tender Offer Issues (2002 code)

Tender Offer Issues in Acquiring PRC Listed Companies; David Liu, Natasha Xie – david.liu@pdlo.com or natasha.xie@pdlo.com. China Law & Practice; Hong Kong (May 2004): 1. Abstract Translate [unavailable for this document] The PRC Securities Law (1999) provides a mandatory tender offer requirement applicable to a takeover of more than 30% of the issued shares of…

2002 Takeover Code opens door

Let the Games Begin: New Takeover Code Opens Door to Acquisition of Listed Companies China Law & Practice; Hong Kong (Nov 2002): 1. The China Securities Regulatory Commission (CSRC) finally promulgated the long awaited Administration of the Takeover of Listed Companies Procedures on September 28, with effect from December 1 this year. For the first…

PRC Securities Law 2014

PRC Securities Law (Revised in 2014) China Law & Practice; Hong Kong (Oct 15, 2014). ProQuest: […] denotes non-USASCII text omitted. A takeover offer of a listed company is no longer required to be submitted to the CSRC but be announced publicly only. (Adopted at the 10th Session of the Standing Committee of the 12th…

Takeover Code 2002

Administration of the Takeover of Listed Companies Procedures 3700/02.09.28 China Law & Practice; Hong Kong (Nov 2002): 1. (Issued by the China Securities Regulatory Commission on September 28 2002 and effective as of December 1 2002.) PART ONE: GENERAL PROVISIONS Article 1: These Procedures have been formulated in accordance with the Company Law, the Securities…

Takeover of Listed Companies under SSE Rules

Takeovers of Listed Companies under the SSE Rules China Law & Practice; Hong Kong (Apr 2006) Abstract Translate [unavailable for this document] The Measures for the Administration of the Takeover of Listed Companies (the Takeover Measures) and the Measures for the Administration for Disclosure of Ownership Change in Listed Companies (the Disclosure Measures), promulgated by…

China Overhauls Takeover Code (2006)

China Overhauls Takeover Code of Listed Companies China Law & Practice; Hong Kong (Oct 2006): 1. Abstract The China Securities Regulatory Commission (CSRC) issued the Acquisition of Listed Companies Administrative Procedures (Takeover Code) on July 31 2006. The Takeover Code became effective as of September 1 2006 and repealed the old procedures (Old Takeover Code),…

Notes on the 2013 Amendments to China’s Company Law

Although we now normally refer to China’s national corporations law as the 2005 (or 2006 by the year of effectiveness) Company Law, it is actually the 2013 version since a range of significant amendments were made by the NPC, China’s national lawmaking body, to the Company Law. These amendments reduced the minimum registered capital to…

VIE: An Otherwise Unnecessary Legal Innovation to Connect Chinese Companies to the World

Alexandra Stevenson’s “VIE: an acronym every investor in Chinese companies should know about” on FT.com offers a simple but clear introduction about the variable interest entity (VIE) structure which has been adopted by a number of China’s tech giants, including Alibaba, whose IPO in 2015 “shows foreign investors able to skirt risks“. “Created to circumvent ownership…

China’s 2017 Foreign Investment Catalogue: Liberalization, Control, and both

On 28 June 2017, China’s Ministry of Commerce released the long-expected Foreign Investment Industrial Guidance Catalogue (Amended in 2017) [《外商投资产业指导目录(2017年修订)》], which is the seventh revision of the catalogue, a positive list of economic sectors in which foreign investors are allowed to invest, with various degrees of restrictions and incentives.  Below are a few online discussions…

China renews its commitment to liberalization and openness, again?

The SCMP reports on  17 August 2017 that “China orders ministries to open up more of economy to foreign investors“, based on the 《国务院关于促进外资增长若干措施的通知》(the “2017 FDI Circular”, hereafter) released by the State Council, which is the official name of China’s Central Government.  The Circular offers 22 measures aiming to attract more foreign investment to China…

EU demands larger market access in China

EU says China needs to give EU companies fair market access The European Union’s trade commissioner says China has to give European companies the same kind of market access that Chinese companies enjoy in Europe before discussions can start on a bilateral free trade agreement July 11, 2016, at 5:09 a.m. these a tags below…

Wal-Mart in China

Wal-Mart seeks overseas success by going native in China Wal-Mart customers in China get perks not available to shoppers in the U.S., like handling the fish June 5, 2016, at 1:47 p.m.

Economist: China’s Mobile Internet

WJY: No doubt WeChat is many times better that WhatsApp, so is Weibo than Twitter and Facebook combined, in terms of the many very useful features they have. However, those advantages could easily be defeated by one shared defect: the Chinese government’s paranoid tight control of the contents transported through WeChat and Weibo. =================== China’s…

Economist: China’s Tech Trailblazers

WJY: Several commentaries published by the Economist recently show that, contrary to popular belief, Chinese tech firms are innovative and competitive in their own ways, especially in the Chinese market. Their competitive advantages benefit from combined factors including consumer-friendly innovations, knowing better of China’s commercial culture, and, of course, the Chinese government’s unintended protection through…