Recent developments of Asian REITs and lessons from Australia
This article focuses on recent developments in the Asian REIT market as the effects of global financial crisis set in and examines how regulatory reforms along the lines of the more mature Australian REIT market could help ease these effects.
China's intervention in global M&A heats up while AML private actions cool down - 4 November 2009
China’s Ministry of Commerce (MOFCOM) has again imposed conditions on the merger clearance of yet another global transaction, the acquisition by Panasonic Corporation (Panasonic) of Sanyo Electric Co. Ltd. (Sanyo), while the conclusion of two private actions (one dismissed and one involving a nominal settlement) under the Anti-Monopoly Law (AML) suggests that firms still have some time to prepare before the threat of further private actions becomes a reality.
China’s competition regulator imposes conditions on two proposed mergers under the AML - 6 October 2009
China’s Ministry of Commerce (MOFCOM) has continued its recent trend of taking an activist approach to merger control in imposing conditions under the Anti-Monopoly Law (AML) on the clearance of two proposed mergers, Pfizer/Wyeth and General Motors/Delphi.
Chinese competition regulators focus on cartels and sharpen their investigatory tools - 14 July 2009
China’s Anti-monopoly Commission (AMC) has published guidelines that provide a basis for all enforcement activity under the Anti-Monopoly Law (AML) that involves defining the relevant market. Firms should now prepare themselves for possible dawn raids and other enforcement action by the National Development and Reform Commission (NDRC) against pricing cartels.
China outbound investment approval process refined - 24 June 2009
China’s National Development and Reform Commission (NDRC) has issued new rules to enable it to exert greater control over strategic overseas investments by Chinese companies.
Chinese regulators nearly battle ready - 30 April 2009
Predictions of a Chinese antitrust/competition law revolution appear to be well founded following new incentives to encourage whistle-blowing, unique minimum fines of one per cent of turnover, a court system increasingly prepared to accept private actions and another conditional merger control decision.
Chinese merger control - new draft measures mean greater risk - 11 February 2009
On 6 February 2009, the Chinese Ministry of Commerce’s Anti-Monopoly Bureau (“AMB”) issued draft interim measures concerning the AMB’s merger control procedures. These measures regulate the investigation and disposal of mergers or “concentrations of undertakings” that are below prescribed notification thresholds but suspected to have or may have the effect of eliminating or restricting competition (“New Measures”).
China’s social justice revolution continues - 23 January 2009
China's social insurance system is currently governed by a multitude of policies and directives at both central and provincial level. On 28 December 2008, the Commission of Legislative Affairs of the Standing Committee of the National People’s Congress (NPC) issued a draft of China’s first National Social Insurance Law (Draft Law). The NPC is seeking public comment on the Draft Law and the deadline for submissions is 15 February 2009.
The new VAT rules and planned changes - 9 December 2008
On 11 November 2008 the State Council issued the Interim Regulation of the People’s Republic of China on Value Added Tax (the new “VAT Rules”). The new VAT Rules take effect from 1 January 2009 and are part of the greater tax transformation plan (“Transformation Plan”).
Chinese merger review receives its first toast - 21 November 2008
On 18 November 2008, the Chinese Ministry of Commerce (MOFCOM) announced that it has cleared the acquisition by InBev N.V./S.A. (InBev) of Anheuser Busch Companies Inc. (A-B), the largest transaction it has yet considered under China's new Anti-Monopoly Law (AML). The parties announced that the transaction had closed shortly thereafter.
China finally enacts landmark Property Rights Law - 5 April 2007
China’s top legislating body has enacted the country’s first property law. This is one of the most significant laws China has issued in the last ten years, and is as much a political event as a legal development. It is a clear attempt, by a nominally Communist government, to provide legal protection to personal wealth.
“The presence of lawyers with both Mandarin and English capabilities affords this practice the edge in a competitive market. "
Chambers Global Guide 2004-2005