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Authored by Song Ying (songying@anjielaw.com) , Ma Chenghao (machenghao@anjielaw.com) ,Wei Fei ( weifei@anjielaw.com) and Sharif Hendry (sharifhendry@anjielaw.com) at AnJie Law Firm. On January 11 2018, following the media report that certain mobile phone application software was infringing user privacy, the Ministry of Industry and Information Technology organised talks with three internet companies. The ministry pointed out that all three companies had collected and used users’ personal information, without fully disclosing to the users the purpose…
Authored by Ren Gulong (rengulong@anjielaw.com) ,Zhang Yuan(zhangyuan@anjielaw.com),Yang Anshu(yanganshu@anjielaw.com),  Wen Xianglai(wenxianglai@anjielaw.com) & Hu Jianan(hujianan@anjielaw.com) at AnJie Law Firm On 19th March 2018, the People’s Bank of China (PBOC) published the Notice of People’s Bank of China No.7 [2018] (the “Notice”), which removes restriction on payment services provided by foreign-invested payment institutions and sets up the rules and regulatory requirements. This Notice has followed the instructions of the 19th CPC National Congress on speeding up the reform…
Authored by Ren Gulong (rengulong@anjielaw.com) & Zhang Yuan(zhangyuan@anjielaw.com) at AnJie Law Firm On 18 March 2018, China’s lawmaker, the National People’s Congress approved a reform plan for the institutional organizations of the State Council, China’s top administrative authority (the “Reform”). Among various substantial restructuring of governmental departments, one of the key part is the restructuring of the financial regulators. This is a substantial reform since 2002 and ends up the framework of separate institutional regulation…
Authored by Zhan Hao (zhanhao@anjielaw.com) ,Stephanie Wu ( wuyuanyuan@anjielaw.com) and Song Ying (songying@anjielaw.com) at AnJie Law Firm.  On March 13, 2018, Li Keqiang, Premier of the State Council of the People’s Republic of China submitted a proposal to the People’s Congress in session to review and consider the “Institutional Reform Program of the State Council” (“Program”), shedding light on plans to consolidate the antitrust enforcement powers under three agencies (the National Development and Reform Commission,…
Authored by Arthur Dong (dongxiao@anjielaw.com) & Darren Mayberry (darren.mayberry@anjielaw.com) at AnJie Law Firm Arbitration clauses benefit from simplicity. The best arbitration clauses also inform. Rarely are they inventive or creative. This is true for Chinese arbitration, or any other. Arbitration clauses should be tailored to your contract’s purpose and your firm’s needs. Above all, construct your arbitration clause with an eye towards clarity, and not towards partisan advantage. Read more…
 Authored by Michael Gu (michaelgu@anjielaw.com) adn Sun Sihui(sunsihui@anjielaw.com) at AnJie Law Firm Introduction The year 2017 marked the 10th anniversary of the promulgation of China’s Anti-monopoly Law. The country’s three antitrust enforcement agencies – the Ministry of Commerce (MOFCOM), theNational Development and Reform Commission (NDRC) and the State Administration for Industryand Commerce (SAIC) – used their extensive experience to continuously reinforce their professionalcompetence and enforcement efficiency. Generally, antitrust enforcement has become the norm.…
 Authored by Ren Gulong (rengulong@anjielaw.com) at AnJie Law Firm In January, 2018, China Banking Regulatory Commission (CBRC) released the Interim Measures for the Administration of Equity in Commercial Banks (“the Measures”) to prevent and punish illegal acts of shareholders that harm the interests of banks and to ensure the sound operation and healthy development of commercial banks. Private capital has been enthusiastic in setting up or acquiring banking institutions in the past several years. In…
 Authored by Ren Gulong (rengulong@anjielaw.com) and Yang Aushu(yanganshu@anjielaw.com) and Xiao Yao (xiaoyao@anjielaw.com) at AnJie Law Firm Entrusted loan is a special term in Chinese financial market, which refers to aloan provided by a corporate lender to a corporate borrower through a commercial bank who acts as a trustee of the lender. Entrusted loans, together with trust products, P2P lending and other off-balance sheet business are considered as shadow banking in China. Since…
 Authored by Ren Gulong (rengulong@anjielaw.com) and Yang Aushu(yanganshu@anjielaw.com)at AnJie Law Firm On 10 November 2017, Vice Minister of Finance Zhu Guangyao announced at a press briefing that China will ease and remove the limits on foreign investments in the financial service sector including securities, banking and insurance. The announcement shows a high-level policy (the “New Policy”) and detailed rules may soon be promulgated, which will certainly bring more opportunities for foreign investors in…
 Authored by Arthur Dong (dongxiao@anjielaw.com) and Darren Mayberry (darren.mayberry@anjielaw.com) at AnJie Law Firm A recent reform of the Prior Reporting System  will likely impact the procedural rights of Foreign Invested Enterprises (FIEs) following domestic arbitration. The 2017 Supreme People’s Court Provisions on the Prior Reporting System dropped on 26 December, 2017. They became effective on 1 January, 2018. The Prior Reporting System originated in 1995. It has been expanded to apply to…