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.
Commercial banks engaging in insurance agency business receive new rules, housing loans face new rate standards and norms are provided for cyber ecosystem.
Bangwei Xu of Jingtian & Gongcheng analyzes the influence of a significant recent judicial interpretation on the protection of creditors' rights in China
China scraps QFII quotas on foreign investment in capital markets; China and U.S. exchange goodwill gestures ahead of trade talks; CBIRC tightens regulation surrounding affiliate transactions in insurance sector; and surge in pork prices spark government scramble to increase production with subsidies
The State Administration for Market Regulation prohibits bad faith trademark registrations while the China National Intellectual Property Administration would conduct an overall review of a portfolio of patent applications. On the other hand, affiliated transactions of insurance companies face stricter scrutiny.
China grants full debt underwriting licenses to two foreign banks; U.S. imposes anti-dumping duties on Chinese structural steel imports; and China issues first white paper on nuclear safety as talks wind down with France on fuel reprocessing project
Wilson Wei Huo, a partner of Zhong Lun Law Firm, explores the application of the "One Country, Two Systems" policy in the context of court-ordered interim measures in aid of arbitral proceedings.
