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Prohibited Trading Activities When Acquiring a Listed Company

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Having explained “takeover defenses,” today is the turn of “prohibited trading activities” when acquiring a listed company. This entry completes the series about takeovers of listed companies. In bringing about a takeover of a listed company, a party cannot engage in “prohibited trading activities” as defined in the Securities Law 2006 (http://www.csrc.gov.cn/pub/csrc_en/laws/rfdm/statelaws/200904/t20090429_102757.htm). Section IV of …

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Corporate governance in China

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Corporate governance has to do with how (business) organizations are run and managed.  Organizations with proper corporate governance have accountability and transparency.  People empowered to take decisions at those organizations know that their actions will be seen and judged by others. Therefore, those officers are more likely to act in ways that benefit the organization’s stakeholders. …

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How much the minimal registered capital of a FIE in China should be?

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Before PRC Company Law took effect on January 1, 2006, laws or regulations was far from clear as to how much the minimal capital contribution of a foreign invested enterprise(“FIE”) should be. In practice, the authority in charge of establishment of a FIE in China normally required the minimal registered capital of a FIE should …

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Takeover Defenses

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In order to complete the theme about takeovers of listed companies, it is necessary to spend some words about “takeover defenses,” so today this entry is dedicated to this topic which is of extreme importance in this context. Under Article 67 of the Securities Law ( http://www.csrc.gov.cn/pub/csrc_en/laws/rfdm/statelaws/200904/t20090429_102757.htm ), if a “major event” occurs which may …

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Requirements on Qualification of a Foreign Financial Institution intending to Establish a Trust in China

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China has opened the door for a foreign financial institution intending to enter into Chinese trust market, provided that a foreign financial institution meets the requirement by PRC laws on qualification of a foreign financial institution.  In details, a foreign financial institution should, as a foreign investor in a trust, must satisfy the following conditions: …

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Requirements on Qualification of a foreign bank intending to establish a bank , branch or representative office in China

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If a foreign bank intends to enter into Chinese market, they need to follow PRC laws and regulations in respect of formation of a foreign bank, branch or representative office in China. PRC government has promulgated multiple laws and regulations regarding formation, management and operations of a foreign bank or non-bank financial institutions. Today I …

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Takeovers of listed companies in China and the content of the so called “Takeover Code” (introduction)

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Today I am going to delineate the new takeover regime in China and I will also introduce the characteristics of the Takeovers Code. This in order to better understand the legal framework regulating the takeovers of listed companies. Features of the New “ Takeovers Regime in China ” and Content of the “ Takeovers Code …

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