China has released a new negative list with fewer sectors off limits to foreign investment; Hong Kong’ regulators will now have access to Chinese companies’ audit records; and foreign ownership caps on Chinese financial firms will be lifted by 2020.
The national and FTZ negative lists are downsized relaxing foreign investment in business such as cinema operations, and the new Catalogue of Encouraged Foreign Investment in Industry supports foreign investment in high-end manufacturing.
The pause agreed in the U.S.-China trade war at the recent G20 meeting, reflects in part the potency of the U.S. Entity List in targeting Chinese firms such as Huawei.
In a landmark case, an ex-UBS banker was jailed for nine years for cross-border insider trading; the China-Japan ETF Connectivity scheme was launched with four index-tracking ETFs; and the CSRC is considering lifting profitability rules on listed company M&A activities.
CSRC allows funds to participate in short sale of securities, procedures for setting up insurance asset management plans are simplified and enterprise gifts are taxed.
The Supreme People's Court (SPC) 2018 Annual Report on Intellectual Property serves as a tool not only for precedential value for the lower courts but also a guide that provides insight for predictable outcomes of future disputes.
At the Global CEO Council meeting in Beijing, Premier Li Keqiang and global business leaders renewed their vows to work together to build China's economy, despite gathering clouds in the U.S.-China trade war.