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Compliance concerns in holding, attending medical conferences
The holding and sponsorship of medical conferences by pharmaceutical enterprises can easily lead to a finding of commercial bribery.
201906-17
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Anti-bribery compliance of multinational companies
Recently, as regulators in various countries generally heighten enforcement efforts against bribery, domestic authorities are also improving their efforts in the fight against corruption. For multinational companies, observing anti-corruption regulations in and outside the PRC are both important. Foreign enforcement bodies mostly require or encourage companies to establish an anti-bribery compliance system. While in practice many bribes are offered by or through individuals, for example salespersons, the company is eventually held accountable. Overseas regulators are mostly unlikely to be convinced by companies reacting on the ground of “personal activity”, if there is no evidence that an effective anti-bribery system is in place.
201905-14
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DDP and compliance risks in value determination by customers
Against the background of a trade conflict, the conditions under the delivered duty paid (DDP) are being applied more often to avoid customs duty risks and lock in transaction costs. The “DDP delivery method” means that the exporter completes the import customs clearance procedures at the destination designated by the trading parties, and then delivers the goods to the importer. This article analyzes the customs value-determination risks under DDP trade conditions.
201904-23
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Shanghai Implementation Plans on Notice of the State Council on Several Measures for Supporting Deepened Reform and Innovation in Pilot Free Trade Zones
In order to implement the guidelines set out in the Notice of the State Council on Several Measures for Supporting Deepened Reform and Innovation in Pilot Free Trade Zones (Guo Fa [2018] No. 38), to promote the China (Shanghai) Pilot Free Trade Zone (hereinafter referred to as “Shanghai Pilot Free Trade Zone”) to achieve higher quality development at a new starting point, and to promote the linkage between the Shanghai Pilot Free Trade Zone and the city's reform, formulate this implementation plan based on actual conditions.
201904-10
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Chinese food producers to comply with US FDA routine inspections
As the regulations on food safety in the US become stricter, an increasing number of Chinese food producers that sell products to the US are facing regulation and onsite inspections by the US Food and Drug Administration (FDA). However, unfamiliarity with relevant FDA regulations, cultural differences and numerous other factors regularly place Chinese facilities at a disadvantage when responding to FDA inspections, even leaving them sometimes at risk of being penalized. Therefore, the authors would like to share some key compliance points in the response by food product enterprises to routine inspections conducted by the FDA.
201904-09
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New PRC Foreign Investment Law: What FIEs Should Do?
The Foreign Investment Law of the People’s Republic of China (“Foreign Investment Law”), which was just adopted by the National People’s Congress today, will be implemented on January 1, 2020, opening a new chapter for China’s foreign investment legislation. The Sino-Foreign Equity Joint Venture Enterprise Law of the People’s Republic of China passed at the beginning of reform and opening, the Wholly Foreign-Owned Enterprise Law of the People’s Republic of China and the Sino-Foreign Cooperative Joint Venture Enterprise Law of the People’s Republic of China enacted subsequently and their implementation regulations (collectively referred to as “Three Foreign-Invested Enterprises Laws”) will be replaced by the Foreign Investment Law. The Foreign Investment Law mainly provides legislative guarantees for the promotion, protection, management and legal responsibility of foreign investment from a macro perspective. The Foreign Investment Law not only clarifies the principles of pre-entry national treatment, negative list, post-entry fair participation in market competition, but it also strengthens intellectual property protection and proposes new concepts such as the foreign investment information reporting system.
201903-18
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‘Non-discrimination’ in pushing of e-commerce information
Precision-information pushing stems from the combination of traditional internet information provision services and big-data analysis. With the emergence of big-data-analysis methods, providers of information services have gradually brought in the information service model of precision-big-data pushing, e.g., portals, certain search engines and some providers of content services, which make available article pushing through mobile apps. However, while bringing user loyalty, precision-information pushing may also give rise to the problem of “discrimination”, where technical means help deprive the user of his or her right to obtain information at his or her own discretion or in a fair manner.
201902-26
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Compliance reviews of real estate trust financing business
The term “real estate trust business” mainly refers to the act whereby a trust company, through the establishment of a trust, manages, applies and disposes of, in the trust company’s name, the real estate trust funds lawfully owned by the settlor in accordance with the wishes of the settlor for the benefit of the beneficiary or for a specific purpose and the subject matter of which is immovable property or the enterprise that operates its real estate. Among commonly seen real estate trust models are the loan-based trust model, equity-type trust model and hybrid-type trust model.
201812-14
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Approaching Shanghai-London Stock Connect
Shanghai-London Stock Connect is the abbreviation for the connectivity mechanism between the Shanghai Stock Exchange (SSE) and the London Stock Exchange (LSE). It refers to the arrangement where eligible companies listed on the two venues can issue depositary receipts (DRs), list and trade them on the other side's market according to local market’s laws and regulations. Meanwhile, through a cross-border conversion mechanism between depositary receipts and underlying securities, the connectivity of the two markets to be realized.
201811-12
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Compliance issues for domestic enterprises listing in Hong Kong
The enthusiasm of domestic enterprises to list in Hong Kong has exploded of late. Certain seemingly minor non-compliance matters can, if not properly handled, also have an adverse impact on the implementation of a project. This column proposes some ideas to solve and explore the categorization and requirements of Hong Kong Exchanges and Clearing (HKEx) with regards to the disclosure of non-compliance matters.
201810-31
