Foreign-funded infrastructure projects form a critical part of China's economic development. However, ill-defined and incomplete legislation has over the years compromised the quality and boosted the costs as well as the final product prices of foreign-funded projects.
The China Securities Regulatory Commission (the CSRC, China's securities regulatory body), issued the Establishment of Securities Companies with Foreign Equity Participation Rules (the Securities JV Rules or the Rules) on June 1 2002. The Rules set out the conditions and procedures for the establishment of Chinese-foreign securities joint venture companies and they represent a limited opening up of China's securities industry to foreign investors.
On June 29 2002, the new Government Procurement Law (GPL) was promulgated and it aims at the establishment of a comprehensive system of Government procurement.
How China handles compensation claims resulting from air accidents has come under new scrutiny in the wake of two recent air disasters. What are the problems with China's legislation that governs these claims?
The People's Bank of China (PBOC) issued the Relevant Questions in Implementing the Circular (the Circular) on April 22 2002. This legislation expands on the 2001 Commercial Bank Intermediary Services Tentative Provisions (the 2001 Provisions).
Foreign-funded VC investments in China have failed to materialize and last autumn's national regulations are widely seen as inadequate. So what alternatives do investors have?
The Provisions Relevant to the Implementation of the Circular (the Provisions) seek to clarify certain aspects of last year's Administration of Online Banking Services Tentative Procedures (the Procedures). New information have been added to the Procedures.
On March 13 2002 the Ministry of Justice issued new regulations governing Hong Kong and Macao law firms working in China. A wider business scope for these firms may be in the offing, but don't hold your breath.
An article about the changing nature of legal work in China, which profiles some of the leading domestic and international firms that are shaping the legal scene.