2020-08
Merger&Aquisition Newsletter
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Industry Policies
Financial Industry | Index Funds

In recent years, publicly offered index funds have developed rapidly and have become important asset allocation instruments and important participants in the capital market.

Life Sciences | Suzhou to be built as “China Sinopharm Valley”

At the Suzhou Biomedical Development Conference in 2020, the Implementing Proposals for Striving to Create Suzhou Landmarks for the Biomedical

Life Sciences | Chinese First Biological Pharmaceutical Industry IP Securitization Products Landing in Pingshan

On July 16, 2020, the Release Conference of IP and Financial Support for Scientific and Technological Development Achievements

Life Sciences | Internet Medical Treatment Management

On July 21, 2020, the General Office of the State Council issued the Implementing Opinions on Further Optimizing the Business Environment

Real Estate | Urban Renewal

On July 20, 2020, the Standing Committee of Shenzhen Municipal People's Congress released an announcement on seeking public comments

Consumer Goods Industry | Supervision on Online Live Marketing

(1) Further Standardizing the Regulation of Online Live Marketing

Emerging Industries | Blockchain

On July 22, 2020, the Central Bank of China ("PBOC") issued the Circular on Promoting the Standardized Application of Blockchain Technology

Taxes | Integration of Yangtze River Delta

On July 31, the State Administration of Taxation (the "SAT") promulgated the Circular on Several Measures for Further Supporting and Serving the Integration Development of Yangtze River Delta Region

Investment and Market Entry Policies
The 2020 Negative List for Admission of Foreign Investment shall come into force as of July 23, 2020.

The Special Administrative Measures (Negative List) for Admission of Foreign Investments (2020) (the “National Negative List”)

Further reduce restrictions on investment and operation of foreign-invested trade enterprises

On July 21, the General Office of the State Council promulgated the Implementing Opinions on Further Optimizing the Business Environment to Better Serve Market Players (the " Market Opinions")

Listing and Restructuring Policies
Specification of the Standards for Major Adjustments to the Restructuring Plan and Method of Issuance Price Adjustment

On July 31, 2020, the CSRC promulgated the Opinions on the Application of Articles 28 and 45 of the Administrative Measures for the Material Assets Reorganization of Listed Companies

Guidelines for the Application of Regulatory Rules — Listing No.1

In order to fully implement the upper-level legislations including the new Securities Law, further deepen the reform of "streamlining administration, delegating power

SZSE Promulgates the Revised Guidelines on Handling the Transfer of Listed Companies' Shares by Agreement

SZSE released the Guidelines of the Shenzhen Stock Exchange for Handling the Transfer of Listed Companies' Shares by Agreement (Revised in 2020) (the "Guidelines") on July 24, 2020.

Hot Market Cases
United States Entirely Blocks TikTok Overseas Version

Since July 6, 2020, when the Government of the United States suspected TikTok of violating the Child Privacy Protection Agreement and posing a “information security threat” to the United States

Judicial Cases
Can an investor claim both performance compensation and equity repurchase against the shareholders of the target company in a VAM dispute?

(1)Policy Interpretation We have discussed the validity of VAM in our May newsletter, which is summarized as follows:

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编委会
Yijun Chen; Yanyan Wang; Yunyun Zhao; Yueping Zhong; Sheng Jiang; Yan Zhou
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