In June, China enacted the PRC Anti-Foreign Sanctions Law (中华人民共和国反外国制裁法) following an expedited drafting process, the country’s first national statute specifically combating foreign sanctions against Chinese companies and individuals. The law states that companies in China may not implement or enforce foreign sanctions against Chinese entities, and that Chinese entities can file lawsuits against those companies that do. Lester Ross and Kenneth Zhou discuss the primary concerns among multinationals about the new anti-sanctions law, and the potential impact on contractual clauses and global compliance strategies.
Lester Ross is the partner-in-charge at global law firm Wilmer Cutler Pickering Hale and Dorr's Beijing office. He is a former vice-chair of the board of governors, former general counsel and current chair of the policy committee and of the insurance forum of the American Chamber of Commerce in China.
Kenneth Zhou is a partner at WilmerHale's Beijing office. He is a former general counsel and former member of the board of governors of AmCham China.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective. Get in touch at vchow@alm.com with any feedback and ideas for future episodes.
In May, BlackRock CCB Wealth Management became the second foreign-controlled wealth management joint-venture to be granted an operating license by the Chinese government. The JV is majority-owned by the world's biggest asset manager BlackRock with 50.1% stake, while China Construction Bank and Singapore state investor Temasek own 40% and 9.9% respectively. Josh Zhang discusses the development of China’s nascent bank wealth management industry, the key provisions of newly introduced wealth management sales and distribution rules, and the Greater Bay Area Wealth Connect scheme.
Josh Zhang is managing director and head of internal control at BlackRock CCB Wealth Management based in Shanghai.
Find the full transcript of the interview here.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective. Get in touch at vchow@alm.com with any feedback and ideas for future episodes.
In-House Insights: China’s Second Foreign-Controlled Wealth Management Company
China has launched a national carbon emissions trading system for the first time, with trading set to begin imminently. Multinationals can expect to be significantly affected by the compliance requirements laid out by the new market, while also standing to profit from the new investment opportunities it presents. Nancy Sun and Andrew Westgate discuss what carbon trading is, how it works, how China’s emissions trading scheme (ETS) compares with other ETSs around the world, and what the opportunities and challenges are for MNCs in China.
Find the full in-depth analysis article on this topic here.
Nancy Sun is a senior partner at Dentons in Shanghai, where she advises major foreign and Chinese energy companies on environmental and general corporate matters.
Andrew Westgate is an associate at Latham and Watkins in New York who advises major energy and industrial companies on a range of environmental matters, including environmental credits and carbon neutrality.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective. Get in touch at vchow@alm.com with any feedback and ideas for future episodes.
China Carbon Trading: EU, Pilot Schemes Hint at What’s to Come
Rules for the Administration of the Trading of Carbon Emissions Rights (Trial Implementation)
In the News: Carbon Trading Rules; Crypto Ban Expansion; and Mobile App Privacy
Human genetic resources such as organs, cells, and tissue are crucial to the clinical trials that pharmaceutical multinationals conduct in order to get their products registered for use in China, whether it be a new drug or medical device. China's HGR regime was recently elevated to the level of a national statute for the first time when the PRC Biosecurity Law came into effect in April. Tina Wu discusses how China's HGR regulator has enforced strict HGR rules since 2019, including intellectual property co-ownership between foreign and Chinese parties and HGR exports.
Read the in-depth article on China's HGR regime here, featuring insights from other experienced China life sciences lawyers.
Tina Wu is a life sciences partner at Haiwen & Partners in Shanghai with more than ten years experience working on life sciences and healthcare matters, including IP licensing and regulatory approvals.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective. Get in touch at vchow@alm.com with any feedback and ideas for future episodes.
The Impact of China’s Human Genetic Resources Regime on Pharmaceutical MNCs
Businesses Navigating Data Transfer Uncertainties by Balancing Compliance Necessity, Business Costs
With more than 10,000 restaurants in over 1,500 cities in China, Yum China is the biggest restaurant company in China, owning some of the most popular fast-food brands in the country including KFC and Pizza Hut. In 2020, it became the first restaurant company and the first non-TMT company to have a secondary listing in Hong Kong.
Joseph Chan, Yum China’s Shanghai-based chief legal officer, discusses how the Hong Kong secondary listing was secured, navigating stricter compliance and disclosure requirements as a U.S. domestic issuer, and more. Read the full transcript of the interview here.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective. Get in touch at vchow@alm.com with any feedback and ideas for future episodes.
In-House Insights: Legal Compliance for China’s Biggest Restaurant Company
The Outlook for the Mainland and Hong Kong Capital Markets in 2019
National security has driven reforms to foreign direct investment regimes around the world, including the United States, Australia, the EU and China. The U.K. is the latest major economy to join in on the act with its new National Security and Investment Bill, which will for the first time in the country’s history introduce a standalone foreign investment regime similar to the U.S. CFIUS review process. Roger Barron and Garrett Hayes discuss the ins and outs of the new regime: its scope and review timeline, the impact on M&A auctions and completed transactions, and recommendations for Chinese investors.
Roger Barron is Paul Hastings' global vice chair for mergers and acquisitions based in London, who recently provided expert evidence to the U.K. parliament on the proposed National Security and Investment Bill. Garrett Hayes is a corporate partner at Paul Hastings based in London who has considerable experience in cross-border M&A, especially in the telecoms industry.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective. Get in touch at vchow@alm.com with any feedback and ideas for future episodes.
How Might the New UK Foreign Investment Regime Impact Chinese Investment?
United Kingdom 2016 (English & Chinese)
Chinese Investment in EU Enters Uncharted Territory with New Investment Screening Reforms
A year ago, the Supreme People’s Court issued three guiding opinions providing guidance to lower courts on a range of litigation and disputes issues arising from the COVID-19 pandemic. Diane Peng analyzes how the SPC's guidance has played out in litigation proceedings in practice; PRC courts' approach to foreign-related litigation in particular; and key takeaways from COVID-related cases she has worked on.
For the full episode, click here to listen on Apple Podcasts and here for Spotify. This is the second part of our China Questions series exploring key issues surrounding litigation in China today.
Diane Peng is a Beijing-based counsel at Fangda Partners, specializing in disputes, particularly international and foreign-related commercial arbitration and litigation.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective. Get in touch at vchow@alm.com with any feedback and ideas for future episodes.
China Question: How to Raise my Chances of Litigation Victory in China? Part I: Litigation Readiness
Podcast #28: Litigation Readiness in China - What Lawyers, Business Need to Know
Hongkong Land is one of Asia’s leading property investment, management and development groups. The long-established real estate developer has a significant presence in mainland China, with an extensive and growing portfolio of commercial and residential projects, which attract some of the world’s biggest retailers and luxury brands. Bobo Xu, Shanghai-based general manager and head of legal for China at Hongkong Land, shares insights on advising on the whole lifecycle of real estate projects in China, navigating challenges posed by the pandemic, developing internal compliance mechanisms, and more.
The Hongkong Land legal team was an honoree at the 2020 China Law & Practice Awards, under the In-house Team of the Year (International Company) category. Click here for an extended transcript of the interview with Bobo.
In-House Insights: Hongkong Land in China
State Council, Decision on Authorizing and Delegating the Examination and Approval Authority of Land
The pandemic's impact on contracts and relationships between Chinese and foreign parties will be felt in the coming months and years as disputes slowly but surely develop into litigation and arbitration. Jessica Pyman and Mavis Tan discuss what lawyers and businesses need to know to prepare for litigation in China; conducting counterparty and fit to sue assessments on business partners; as well as the key information and analyses needed to inform litigation strategy.
Jessica Pyman is Asia Pacific head of business intelligence at Control Risks, a risk consultancy. Mavis Tan leads the consultancy's forensics practice for Greater China and North Asia.
Find our China Questions article analyzing the key issues discussed here.
Episode Outline
China question: How can I win the PR battle in litigation?
China question: How do I select the best court to hear my case?
The Chinese government has been outspoken in recent years about its desire to improve the business environment for both domestic and foreign companies. Part of its strategy to do so has been the promotion of arbitration by the Chinese judiciary, spearheaded by the Supreme People's Court. At the same time, the Hong Kong government led by its Secretary for Justice, the arbitrator Teresa Cheng, has been eager to promote Hong Kong as a regional dispute resolution hub. Edward Liu discusses the ways in which China is opening its doors to foreign arbitral institutions and the promotion of frictionless arbitration proceedings across the mainland and Hong Kong.
Edward Liu is a legal director advising on disputes and maritime law matters at Hill Dickinson in Hong Kong. Dual-qualified in both England and Wales and in China, Edward is also an experienced arbitrator and mediator and a member of the Hong Kong government’s Advisory Committee on Promotion of Arbitration and its Steering Committee on Mediation.
This is the second special annual review episode looking back at the year just gone by in various major areas of the law. Check out last week's episode looking at the major U.S. tech-related sanctions and export controls on Chinese entities in 2020.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective. Get in touch at vchow@alm.com with any feedback and ideas for future episodes.
Guangzhou Court Rules ICC Arbitration Award Chinese, Not Foreign
Podcast #17: Arbitration in China and its Growing Internationalization
Going Global – China’s Arbitration Reforms in 2019
The Trump administration aggressively introduced new rules and amended existing rules to clamp down on Chinese access to U.S. technology, primarily through export controls and sanctions, throughout 2020. Wendy Wysong and Ali Burney discuss the impact of different lists compiled by the US government on Chinese companies, the heightened focus on companies linked to the Chinese military, as well as the business community's response.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective, hosted by Vincent Chow. This is the first of two special episodes looking back at the year just gone by in two major areas of the law - next week's episode will be on China's arbitration reforms.
Wendy Wysong is Hong Kong managing partner at Steptoe & Johnson, based in Hong Kong and Washington, D.C. She is a former Deputy Assistant Secretary for Export Enforcement in the Department of Commerce who previously represented Chinese telecom giant ZTE in their five-year multi-agency investigation in the U.S.
Ali Burney is a partner at Steptoe & Johnson in Hong Kong. He has extensive experience in economic sanctions and export controls, having worked previously in Washington, D.C. at the Office of Foreign Assets Control in the Department of Treasury.
The Trump administration has creatively used U.S. export controls and sanctions to further its foreign policy goals, most notably restricting U.S. business dealings with Chinese entities in various technological sectors. Benjamin Kostrzewa and Holly Blackwell discuss the future of the U.S. export controls and sanctions regimes under a new administration; the overarching policy goals and specific policy tools; the implications for international disputes and compliance; and more.
For the full episode, click here to listen on Apple Podcasts and here for Spotify.
Benjamin Kostrzewa is a Counsel in Hogan Lovells' Hong Kong and Washington, D.C. offices, who specializes in international trade law with a focus on the Asia-Pacific region. Before joining Hogan Lovells, Ben served as assistant general counsel at the Office of the U.S. Trade Representative from 2011 to 2015, where he handled U.S.-China disputes and negotiations, World Trade Organization disputes, and free trade agreement negotiations.
Holly Blackwell is an international disputes partner at King & Wood Mallesons based in Shanghai. She advises clients on their cross-border disputes concerning their investments in China and internationally, as well as their compliance with law and policy concerning international trade and business, including U.S. and international anti-bribery, economic sanctions, export controls, and integrity regimes.
Today’s episode is the second part of a two-part special looking at what a Biden administration could mean for U.S.-China business and investment. If you haven’t already, make sure to listen to the first part featuring Jeremy Zucker and Yang Wang from Dechert, where the focus was on U.S.-China FDI and M&A flows.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective, hosted by Vincent Chow. Get in touch at vchow@alm.com with any feedback and ideas for future episodes.
How a Biden Presidency Might Shake Up US-China Investment
Podcast #24: Post-Election Special Part I – US-China Investment Under a Biden Administration
With a new U.S. presidential administration all but confirmed, all eyes now are on how a Biden presidency will differ from its predecessor in terms of its policies towards China. Jeremy Zucker and Yang Wang discuss FDI flows between the two countries, the outlook for cross-border M&A, the potential policy tools used by the Biden administration in this area, and more.
Today’s episode is the first of a two-part special looking at what a Biden administration could mean for U.S.-China business and investment. Next week's episode will cover U.S.-China trade and sanctions policies.
Jeremy Zucker is co-chair of Dechert’s International Trade and Government Regulation practice based in Washington, D.C. He has extensive experience advising on national security reviews of FDI by the Committee on Foreign Investment in the United States (CFIUS). Yang Wang is managing partner of Dechert’s Beijing office who focuses his practice on cross-border M&A, private equity, venture capital investments and capital markets.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective, hosted by Vincent Chow. Get in touch at vchow@alm.com with any feedback and ideas for future episodes.
Chinese Investment in US Plummets Under Increased Scrutiny, But Not Impossible
Podcast #14: CFIUS and its Impact on Chinese Investment in the US
TikTok Given Little Room to Maneuver as Broad Fears of Chinese Surveillance Prevail
Data protection has been one of the top priorities for lawmakers and regulators in China in recent years, as concerns over the commercial collection and processing of personal information have increased alongside the explosion of the country’s internet economy. Barbara Li analyzes the extraterritorial reach of the new draft PRC Law on the Protection of Personal Information (中华人民共和国个人信息保护法), its provisions on cross-border data transfer, why the law is good news for GDPR compliant international companies, and more.
Barbara Li is Head of Corporate at Rui Bai Law Firm in Beijing, where she spearheads the TMT and FinTech practices.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective hosted by Vincent Chow. Get in touch at vchow@alm.com with any feedback and ideas for future episodes.
PRC Law on the Protection of Personal Information (Draft)
Strengthening the Protection of Personal Information in China – National Standard Overhaul
China Targets Data Collectors With New GDPR-Aligned National Standards
Established in 2014, the New Development Bank was set up by China and the four other BRICS countries to finance infrastructure and sustainable development projects in the BRICS and other emerging economies. Abhimanyu Ghosh discusses his role at the bank, the bank’s rapid response to COVID-19, setting environmental and social standards for their loans, as well as how working for a multilateral development bank is different from working for a law firm.
Abhimanyu Ghosh is Senior Counsel at the NDB, based at the bank’s headquarters in Shanghai. The NDB in-house legal team was the winner of the In-House Team of the Year International at the recent 2020 China Law and Practice Awards.
Today’s episode is the second part of a two-part special looking at the work of two leading in-house counsel in China who have been influential in helping their organizations navigate a fairly historic and unprecedented past year. Click here to listen to the previous episode with Myra Gao, head of legal at Danfoss China.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective, hosted by Vincent Chow. Get in touch at vchow@alm.com with any feedback and ideas for future episodes.
Disclaimer: Abhimanyu Ghosh was speaking in a personal capacity and his view are not necessarily those of the New Development Bank
China Law & Practice Announces Awards 2020 Winners
In-House Insights: Helping Businesses Expand in China with Judy Wong, Tricor Group GC
Traditionally, in-house lawyers in China have not been viewed as a core component of business strategy, but this has changed massively in recent years, with in-house counsel increasingly looking to get involved in major decision-making. Myra Gao discusses her role at Danfoss China, the growing attention she pays to export control developments on both sides of the Pacific, the company’s quick and early response to COVID-19, as well as the rapid development of China’s environmental regulations.
Myra Gao is Head of Legal at Danfoss China and winner of the General Counsel of the Year International at our recent China Law and Practice Awards 2020.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective, hosted by Vincent Chow. Get in touch at vchow@alm.com with any feedback and ideas for future episodes.
Episode outline
China Law & Practice Announces Awards 2020 Winners
In-House Insights: Helping Businesses Expand in China with Judy Wong, Tricor Group GC
Export controls have been one of the main policy tools wielded by the Trump administration in its trade and technology war against China. Now, China has made its first major move in response, with a new law specifically focused on export controls. Nate Bush discusses the scope of items the new law covers, the ways in which it departs from the export control regimes of other countries, the implications for companies from third countries amid worsening US-China relations, and more.
Nate Bush is partner at DLA Piper in Singapore where he heads the firm’s Asia investigations as well as antitrust and competition practices.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective hosted by Vincent Chow. Get in touch at vchow@alm.com with any feedback and ideas for future episodes.
Episode outline
Related content
In the News: Export Control Law
US Companies Face Compliance Dilemma as China Publishes Unreliable Entity List Rules
This week, the southern major city of Shenzhen in China’s Guangdong province celebrated the 40th anniversary of the establishment of the Shenzhen special economic zone, China’s first. Eric Liu discusses Shenzhen’s new five year development plan; loosening of rules surrounding foreign exchange and remittances; imminent stock market reforms, and more.
Eric Liu is Managing Partner of Zhao Sheng Law Firm based in Beijing and Shanghai, where it is in a joint operation with global law firm Linklaters. Eric’s work focuses on cross border M&A and joint ventures, in particular the financial markets and insurance sectors.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective, hosted by Vincent Chow. Get in touch at vchow@alm.com with any feedback and ideas for future episodes.
Episode outline
China Releases New Master Plan for Shenzhen as a Model City
In-house legal departments around the world are under more stress than ever, with the COVID-19 pandemic causing massive upheavals to businesses' operations, often at breakneck speed. Judy Wong, group chief legal counsel and chief compliance officer for Tricor, shares insights from her work as the head of the legal team at Tricor, a business expansion consultancy in Asia based in Hong Kong, with 47 offices and 2,700 employees spread out across 21 countries and territories around the world. Judy discusses the company’s operations and strategy in mainland China, as well as the impact of the pandemic on her work.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective hosted by Vincent Chow. Get in touch at vchow@alm.com with any feedback and ideas for future episodes.
Episode outline
Related content
In-House Insights: Helping Businesses Expand in China with Judy Wong, Tricor Group GC
Supreme People’s Court Issues Guiding Opinions on the Handling of COVID-Related Cases
COVID-19 Legal Series (6): How are Employer’s Social Insurance Contributions Reduced Under COVID-19
In-House Insights: Marriott International in China
With arbitration being the preferred method of dispute resolution globally for international commercial contracts, China has recognized the need to modernize its arbitration system and bring it in line with international best practice as it embarks on high-value global investment projects. In this episode, Hu Ke shares insights about Beijing's pro-arbitration strategy; its ties to the Belt and Road and the Greater Bay Area initiatives; major reforms opening up the mainland market to foreign arbitral institutions, and more.
Hu Ke is a Beijing-based disputes partner at Jingtian and Gongcheng who specializes in international litigation and arbitration.
The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective hosted by Vincent Chow. Get in touch at vchow@alm.com with any feedback and ideas for future episodes.
Episode outline
Related content
Going Global – China’s Arbitration Reforms in 2019
Landmark First Order Under Mainland-HK Arbitration Arrangement Issued
