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China Bolsters Foreign Direct Investment (FDI) Review Framework, Identifies New Areas of Security Concern

The People’s Republic of China (PRC or China) established a foreign investment security review in 2011 that focused exclusively on the merger and acquisition of domestic companies by foreign investors in a notice issued by the State Council (the 2011 Notice)1. On December 19, 2020, the National Development and Reform Committee (NDRC) and the Ministry … Continue Reading

China MOFCOM Issues First Order of 2021 – Counteracting Unjustified Extra-Territorial Applications of Foreign Laws

On Saturday 9 January 2021, the PRC Ministry of Commerce (MOFCOM) issued MOFCOM Order No. 1 of 2021 on Rules on Counteracting Unjustified Extra-Territorial Applications of Foreign Legislation and Other Measures (the Rules). The Rules specify that they were formulated pursuant to the PRC National Security Law for the express purpose of “counteracting the impact … Continue Reading

Trump Flexes Executive Muscle to Address Chinese Military Threat

On November 12, 2020, the President signed an Executive Order (EO) on “Addressing the Threat from Securities Investments that Finance Communist Chinese Military Companies.”  The EO generally prohibits any transaction in publicly traded securities, or any securities that are derivative of, or are designed to provide investment exposure to such securities, of any Chinese military … Continue Reading

China Publishes Regulations on Unreliable Entity List

On September 19, 2020, the Ministry of Commerce of the People’s Republic of China (the MOFCOM) published the Regulations on Unreliable Entity List (Regulations), which became effective the same day. Following its first announcement on May 31, 2019, the unreliable entities list (UEL) has attracted the attention the Chinese and non-Chinese media alike. Numerous questions … Continue Reading

Huawei Update: August 2020

Notable Developments The United States House of Representatives and Senate have released text of their versions of the FY2021 National Defense Authorization Act (H.R. 6395 and S. 4049, respectively). The Huawei-related provisions are summarized below. House Huawei provisions: Sense of Congress affirming Section 889 of the FY19 NDAA, which concerns federal procurement of Huawei equipment, … Continue Reading

President Trump Takes Stance on China, Hong Kong – Takeaways From the Presidential Announcement

On Friday, May 29, President Trump announced several actions related to China and Hong Kong. The President’s delivered remarks and what was left unsaid were equally instructive. While we are still waiting on details for some of these actions, below is an overview of the President’s announcement.… Continue Reading

CFIUS Clearance: Huatai Securities, AssetMark Financial Holdings and WBI OBS Financial

Status:  Clearance Acquirer:  Huatai Securities Co., Ltd. (China); AssetMark Financial Holdings, Inc., (US) Acquired:  WBI OBS Financial, LLC (US) Value:  US$18.4 million Industry:  Financial Services On September 30, 2019, AssetMark Financial Holdings, Inc. (NYSE: AMK), a “provider of extensive wealth management and technology solutions that power independent financial advisers and their clients,” (AssetMark Financial Holdings, Inc., … Continue Reading

CFIUS Clearance: Tonghao Information Technology, and UTStarcom Holdings Corp.

Status:  Clearance Acquirer:             Tonghao Information Technology (Shanghai) Co., Ltd. (China) Acquired:            UTStarcom Holdings Corp. (Cayman Islands) Value:                   Approx. US$49.2 Million Industry:             Telecommunications… Continue Reading

Supply Chain Issues Arising From COVID-19 – China

This blog post is being published for The Trade Practitioner as part of a content partnership with our Shanghai and Beijing Offices. Please contact Daniel Roules and Yi (Nic) Wan with any questions. In a prior client advisory on the legal implications of coronavirus disease 2019 (“COVID-19”) in China, we explored employment, force majeure, data … Continue Reading

International Trade and Policy Discussion in Phoenix – February 25, 2020

Join us along with the Greater Phoenix Economic Council for a substantive discussion on hot-button issues in international trade and policy that will directly impact Arizona businesses across a range of industries. This discussion will feature Ludmilla L. Kasulke, who is an experienced trade lawyer based in our Washington DC office. Topics will include an … Continue Reading

US Department of State Imposes Visa Restrictions on Chinese Officials for Repression in Xinjiang

On October 8, 2019, the Secretary of State announced visa restrictions on Chinese government and Communist Party officials believed to be responsible for, or complicit in, the detention or abuse of Uighurs, Kazakhs or other members of Muslim minority groups in Xinjiang, China. Family members of named persons may also be subject to these restrictions. The visa restrictions support the Department … Continue Reading

Advice for Chinese Companies: How to Cope with Strengthened US Export Controls and CFIUS – Seminars in Shanghai and Beijing – October 2019

Keep US Open to Chinese Business: 维持一个对华企业开放的美国: How to Cope With Strengthened US Export Controls and CFIUS 应对日趋严格的美国出口管制和CFIUS审查的实务指南 Friday, October 11, 2019 – Shanghai (2019 年10月11日,周五 – 上海) Tuesday, October 15, 2019 – Beijing (2019 年10月15日,周二 – 北京)… Continue Reading

Section 301 Update: US-China Trade War – List 4 Tariffs To Begin on September 1, 2019

On August 1, 2019, President Trump tweeted that the US will impose a 10% tariff on approximately US$300 billion worth of products from China (“List 4”) beginning on September 1.  This will be in addition to Section 301 tariffs already imposed on US$250 billion worth of Chinese products. … Continue Reading
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