Beijing
, China
–December 13, 2010
The State Council recently decided to make amendments to the Provisions on the Administrative Penalty for Price-related Unlawful Practices. The new Provisions indicate that the illegal income of those who manipulate market prices to cause a relatively large increase in product prices shall be confiscated and a fine of not more than 5 times the illegal income shall be imposed; a fine of between 100,000 Yuan and 1 million Yuan shall be imposed on those without any illegal income, and the fine shall be between 1 million and 5 million Yuan for those committing more serious offences; if the circumstances are especially serious, a suspension shall be imposed on the business to bring it up to standard, or the business licence shall be revoked by the industry and commerce administrative authorities.
Lehman, Lee & Xu can provide expert legal representation and counsel throughout the investment process. Beyond contract drafting, the firm can also perform due diligence on Chinese firms and projects, provide corporate and tax counsel on the structure and operation of an investment, from mere CERs purchase deal, to direct engagement in the project development with a Chinese partner, or to technologies sales/licensing and equity injections in project companies. For more information about the firm, please visit our website at
www.lehmanlaw.com
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