China Law & Practice

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Law firm competition heats up in China

As outbound deals rapidly catch up with inbound in volume and domestic law firms increase capacity and global reach, international law firms have to fight to stay relevant

In the news: CITIC sells assets, FDI reform planned, factory workers strike, Veolia accused of water pollution and China goes to Hollywood

This week CITIC Pacific bought its parent company’s banking assets, officials considered unifying domestic and foreign investment laws, a factory strike escalated and China Film invested in Hollywood productions

Legislation roundup: Well-known trademark recognition, telecom services in the FTZ and online insurance

The SAIC has defined the recognition and protection of well-known trademarks, the MIIT invited foreign investors to the FTZ’s telecom sector and the CIRC set online insurance requirements for personal insurance companies

How law firms should prepare for the new VAT rules

As one of the first taxpayer groups affected by the reforms replacing business tax with value added tax, law firms must adjust their engagement contracts, billing systems and compliance obligations

Full Text Translations


Tentative Provisions on Temporary Placement
劳务派遣暂行规定

The number of temporary placement workers used by enterprises may not be more than 10% of the enterprises' total workforce.

Provisions for the Administration of the Registration of Foreign-invested Partnerships (Revised)
外商投资合伙企业登记管理规定 (修订)

Foreign-invested partnerships no longer need to undergo annual inspection but are required to publish their annual reports.

Tentative Provisions on the Criteria Applicable to Simple Cases of Concentrations of Business Operators
关于经营者集中简易案件适用标准的暂行规定

MOFCOM defines simple concentration cases.

Provisions on Several Issues Concerning the Application of the «PRC Company Law» (1) (Revised)
关于适用《中华人民共和国公司法》若干问题的规定 (一) (修正)

Provisions revised according to the amendments of the PRC Company Law.

Provisions on Several Issues Concerning the Application of the «PRC Company Law» (2) (Revised)
关于适用《中华人民共和国公司法》若干问题的规定 (二) (修正)

Provisions revised according to the amendments of the PRC Company Law.

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Law Digests


Shanghai Stock Exchange, Implementing Rules for Securities Trading by Qualified Foreign Institutional Investors and Renminbi Qualified Foreign Institutional Investors
上海证券交易所合格境外机构投资者和人民币合格境外机构投资者证券交易实施细则

Shareholdings of QFIIs and RQFIIs increased to 30%.

China Insurance Regulatory Commission, Circular on Regulating Bank Deposits of Insurance Capital
中国保险监督管理委员会关于规范保险资金银行存款业务的通知

An insurance company is required to manage bank deposits other than the current deposits required to maintain its day-to-day operations in investment accounts.

State Council, Opinions on Further Optimising the Market Environment for Enterprise Mergers and Restructurings
国务院关于进一步优化企业兼并重组市场环境的意见

Examination and approval of material asset purchases of listed companies no longer required.

Shanghai Branch of the State Administration of Foreign Exchange, Implementing Rules for Foreign Exchange Control to Support the Establishment of the China (Shanghai) Pilot Free Trade Zone
国家外汇管理局上海市分局支持中国(上海)自由贸易试验区建设外汇管理实施细则

Forex registration for FDI in the Shanghai free trade zone streamlined.

Ministry of Finance and State Administration of Taxation, Circular on Issues Relevant to Administration of the Determination of the Tax Exempt Qualifications of Non-profit Organisations
财政部、国家税务总局关于非营利组织免税资格认定管理有关问题的通知

Administration of the determination of tax exempt qualifications of non-profit organisations strengthened.