Legal

How is it that US law can apply to certain Chinese companies and the conduct of Chinese business executives? The answer is the Foreign Corrupt Practices Act (FCPA), a broad-reaching US law enacted to prohibit bribery as a means of obtaining and retaining business. A common misperception in the business community is that the FCPA applies only to US companies and US citizens. However, under certain circumstances, the FCPA can also apply to the conduct of Chinese companies and Chinese business executives, making FCPA compliance crucial.

Uni-President China Holdings Ltd raised US$478 million from the global offering, which consisted of an initial public offering and listing of equity shares…

Yingli Green Energy Holding Company Limited announced the pricing of its offering of US$150 million zero coupon convertible senior notes and the pricing…

How is it that US law can apply to certain Chinese companies and the conduct of Chinese business executives? The answer is the Foreign Corrupt Practices Act (FCPA), a broad-reaching US law enacted to prohibit bribery as a means of obtaining and retaining business. A common misperception in the business community is that the FCPA applies only to US companies and US citizens. However, under certain circumstances, the FCPA can also apply to the conduct of Chinese companies and Chinese business executives, making FCPA compliance crucial.

China National Materials Company Limited raised US$540 million from the global initial public offering, which comprised a listing on the Main Board of…

The Implementing Regulations clarify enterprise income tax matters in respect of revenue, deductions, tax treatment of assets, tax payable, preferential tax treatment, withholding at source, special tax adjustments, and administration of levy and collection.

Chinese lawmakers accomplished much in 2007. Chief among their achievements include the promulgation of the Property Law, Anti-monopoly Law, Labour Contract Law, and amendments to the Law on Lawyers. In particular, they adopted significant changes to the Law on Lawyers, ushering in a brand new era in the legal profession in China.

Business people and lawyers have often complained of the vagueness and impracticalities of China's legal rules regulating the filing of charges over chattels. With the advent of the New Methods for Registration of Charges of Personal Properties, much light is shed and many problems removed; yet ambiguities still abide around several key issues.

Since the passage of the PRC Enterprise Income Tax Law last March, local companies and foreign-invested enterprises alike have eagerly awaited the implementing regulations that would reveal the details of how the law would be put into practice. In order to enhance the operability of the law, these regulations give specific definitions, criteria for tax-liability reductions and concessions, and other critical details.