China Law Podcast

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 [email protected] with any feedback and ideas for future episodes.

PRC Anti-Foreign Sanctions Law (中华人民共和国反外国制裁法)

Ministry of Commerce, Rules on Counteracting Unjustified Extra-territorial Application of Foreign Legislation and Other Measures (商务部阻断外国法律与措施不当域外适用办法)

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 [email protected] with any feedback and ideas for future episodes.

In-House Insights: China’s Second Foreign-Controlled Wealth Management Company

Taking China’s Asset Management to the Next Level

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 [email protected] 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

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 complexities and challenges of the regulatory approval process; the importance of implementing global best governance and internal controls practices; and finding solutions to competing U.S. and Chinese compliance requirements.

Find the Q&A article here.

Josh Zhang is managing director and head of internal control at BlackRock CCB Wealth Management based in Shanghai.

The China Law Podcast is a weekly podcast exploring China’s business and financial sectors from a legal perspective. Get in touch at [email protected] with any feedback and ideas for future episodes.

In-House Insights: Launching China’s Second Foreign-Controlled Wealth Management Business

Taking China’s Asset Management to the Next Level

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 [email protected] 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 [email protected] with any feedback and ideas for future episodes.

In-House Insights: Legal Compliance for China’s Biggest Restaurant Company

Key Policies Driving U.S.-Listed Chinese Companies’ Renewed Interest in Mainland China and Hong Kong Financial Markets

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 [email protected] 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 [email protected] 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?