Set to be fully implemented in 2020, China's corporate social credit system will monitor all aspects of a company's operations and seek to shape their behavior through blacklistings and joint punishments. Lawyers and experts alike suggest foreign companies take advantage of the system when conducting due diligence and localize their compliance programs.
Clarification of registration procedures for foreign-invested for-profit non-curricular language training institutions
China announces six new FTZs targeting poorer regions and Belt and Road cooperation; central bank unveils three-year fintech development plan to accelerate innovation while curbing risks; new report warns foreign companies about corporate social credit's potential impact; and SAFE relaxes foreign currency conversion requirements across Shenzhen
Foreign insurers are encouraged to participate in the country's emerging private pensions sector as the state pension fund is heading towards a $1.6 trillion gap over the next 30 years.
China-U.S. trade war further escalates with latest retaliatory tariff hikes from both sides; Chinese outbound M&A continues downward spiral amid trade war and heightened regulatory scrutiny; Goldman Sachs set to take majority control of Chinese securities JV; and Beijing to trial foreign investment in VPN services by the end of the year
Shanghai Free Trade Zone is expanded to include the Lingang New Area
The U.S. trade office announces a delay for some China tariffs until December; China's banking system sees non-performing loans increase and capital adequacy ratio decrease in Q2; Shanghai targets regional headquarters with new measures to attract multinational companies; and Shenzhen to see wide-ranging reforms in bid to become a national model for high-quality development and innovation
The newly incorporated Lingang New Area into Shanghai’s Free Trade Zone, will offer investors tax cuts, duty exemptions and other preferential policies.
The U.S. Treasury labels China a currency manipulator after China's currency falls below seven to the dollar; China announces plans to double size of Shanghai FTZ and reduce restrictions on foreign businesses; JP Morgan and Morgan Stanley one step closer to taking control of respective JVs; and China and U.S. sign U.N Convention on Mediation in Singapore
Amidst growing trade friction with the U.S., Scott Yu and Derek Liu of Zhong Lun Law Firm note some particular highlights for foreign investors in the latest iteration of China's Negative Lists and Encouraged Investment Catalogue.
