Category: Law & Regulation

A Chinese court sentenced Li Jiating, former governor of Yunnan province, to a suspended death sentence for corruption, the Financial Times said. The Beijing court said Li had abused official positions to take bribes worth more than Yn18m between 1994 and 2000, but that his sentence had been suspended for two years because he had […]

The China Securities Regulatory Commission has revoked the licence and ordered the closure of Dalian Securities, a small brokerage in Liaoning province, South China Morning Post said. Analysts believed that the decision to proceed to closure was based on the brokerage's issue last year of debt instruments that guaranteed higher interest rates to retail investors. […]

The National Audit Bureau has imposed fines of Yn19m on China Construction Bank after a bureau investigation of 20 units and branches of the bank found 88 illegal accounts holding a total of Yn102m, South China Morning Post said. The bank has also been ordered to pay outstanding business and income tax. It had been […]

The joint venture fund management firm of the European financial services group Fortis Haitong Securities has received its operating permit from the China Securities Regulatory Commission. Its registered capital is Yn100m, with Haitong owning a 67 per cent stake. Two other joint venture fund management firms – China Merchants Fund Management, a joint venture between […]

The recently implemented provisional rules on mergers and acquisitions involving Chinese enterprises provide for potentially sweeping antitrust requirements that could have major implications for foreign investors. The Provisional Rules on Mergers with and Acquisitions of Domestic Enterprises by Foreign Investors offer a legal basis for the acquisition by foreign investors of assets from and equity […]