Legal

SAMR defines the commercial value of trade secrets, SAT clarifies calculation of resource tax on third party purchases, and medium and small shareholders may participate in corporate governance more easily.

Foreign investors may further complain to higher-level authorities

Independent fund sales institutions are not allowed to sell PE/VC funds on an agency basis

China issues draft rules easing foreign access to onshore bond markets; Citigroup becomes first U.S. bank to receive fund custody license; and Yum China bags $2.2 billion in Hong Kong secondary offering

Export of some technologies may now require approval from local authorities. Independent fund sales institutions are not allowed to sell PE/VC funds on an agency basis. Foreign investors may complain to higher-level authorities if not satisfied with a complaint handling.

Foreign investment screening is tightening across Europe driven by concerns over Chinese investment and the pandemic

Applicants for administrative permission are required to expressly indicate the key confidentiality points

Online platform operators may bear e-commerce operator obligations for live streaming marketing

Wan Jia, Liu Sichen and Hannibal El-Mohtar of Anjie Law Firm highlight some of the practical aspects of the SPC Guiding Opinions and their roles in the trial, practice and resolution of COVID-related cases