Guangzhou Futures Exchange opens, offering hedging tools for imminent nationwide carbon trading market; PBOC removes eligibility of fossil fuel projects for green bond financing; and State Council approves services opening-up in four regions and cities
Chinese investors should prepare information about their operations and other investments in order to convince both sellers and regulators of their reliability
HKEX proposes stricter ESG, corporate governance disclosures and standards; PBOC tightens rules surrounding anti-money laundering, terrorist financing efforts by financial institutions; and NDRC furthers Hukou reform with latest directive
Most high-tech MNCs expect greater difficulties in China even with more market access; Chinese investment in Australia plummets in 2020 amid pandemic and regulatory scrutiny; and China approves Schroders majority-owned wealth management JV
Biden delays implementation of part of Trump's military investment ban; U.S.-China financial investment flows far greater than official figures according to new report; and China launches national carbon emissions trading market
Qualifications recognition of mining assessors is relaxed
Ant Group dual-listing suspended following new micro-lending rules draft; new draft rules for financial holding companies' leadership; and national carbon emission trading scheme draft measures published
Calculation of resource tax on third party purchases is clarified
Established in 2014, the New Development Bank was set up by China and the four other BRICS countries (Brazil, Russia, India and South Africa) to finance infrastructure and sustainable development projects in the BRICS and other emerging economies. As of July 2020, the NDB has approved loans of $18.6 billion. Abhimanyu Ghosh, Senior Counsel at the NDB based in the bank's headquarters in Shanghai, discusses his role at the bank, the bank's rapid response to COVID-19, setting environmental and social terms for their loans, as well as how working for a multilateral development bank is different from working for a law firm. The in-house legal team at the NDB was the winner of the In-House Team of the Year International at the recent 2020 China Law and Practice Awards.
Multilateral development banks are immune from judicial proceedings, which changes the nature of in-house work
