AmCham Shanghai survey indicates optimism among U.S. businesses in China about Biden administration; Hong Kong stock exchange slashes IPO settlement process from average five business days to one; and State Council approves launch of SAMR-led 17-department task force tackling unfair competition
Fay Zhou, Vivian Cao and Xi Liao of Linklaters discuss the recently introduced Leniency and Commitments Guidelines by highlighting their differences in application, scope and legal implications, as well as whether companies should adopt the leniency or commitments mechanisms to seek comparatively favorable or less severe outcomes when responding to antitrust investigations
Trump issues executive order prohibiting purchasing of securities in Chinese military-affiliated companies; China signs RCEP trade agreement with 14 other Asia-Pacific countries; and SAMR releases draft antimonopoly rules targeting internet companies
FTSE Russell to become third major index provider to include China bonds; Luckin Coffee slapped with massive fine by SAMR; and Segway maker Ninebot to become first VIE entity to list in mainland
Scott Yu, Frank Jiang, Rachel Li, Emily Xu and Derek Liu of Zhong Lun Law Firm discuss a recent joint venture between Yum China and Mininglamp that the firm advised on involving a variable interest entity (VIE) structure that received unconditional clearance from the State Administration for Market Regulation (SAMR), which is the first case of its kind in China. They also highlight key issues arising in a merger filing involving a VIE structure and offer some key practical guidance for VIE structured companies
