Provisions of the New Company Law on the Dismissal and Resignation of Directors China’s new Company Law, which will come into effect on July 1, 2024, creates the following systems for the dismissal and resignation of directors: first, the shareholders’ meeting may resolve to dismiss a director, but if a director is dismissed before the
The new Company Law was amended and passed on December 29, 2023, and will come into effect on July 1, 2024. The new law shortens the deadline for subscribed capital contributions, allowing companies to adjust their registered capital according to their operational conditions. This article starts by focusing on the key provisions of the new
On March 22, 2024, the Cyberspace Administration of China officially announced the Regulations on Facilitating and Regulating Cross-border Data Flow (“Regulations”) and took effect upon the date of announcement. According to the previous regulatory requirements for data outbound transfer, there are three main methods for data outbound transfer: security assessment, standard contract, and protection certification.
The Yangtze River Delta stands as a beacon of opportunity for foreign companies seeking advantageous tax policies, robust development projects, and strategic market access within China. This region, encompassing Shanghai and the provinces of Jiangsu, Zhejiang, and Anhui, has been a key driver of China’s economic growth, with ambitious plans to further solidify its position
In today’s globalized business landscape, companies come to manage labor disputes. The intricate interplay of local laws, cultural nuances, and procedural requirements significantly shapes the resolution process. This article embarks on a comparative journey through four distinct jurisdictions—China, India, Italy, and Vietnam—to illuminate the strategies and challenges involved in addressing labor disputes. Central to this
The “Arrangement of the Supreme People’s Court on Mutual Recognition and Enforcement of Civil and Commercial Judgments by the Courts of Mainland China and the Hong Kong Special Administrative Region” (hereinafter referred to as the “Arrangement”), officially came into effect on January 29, 2024.
The accelerating impact of digital innovation has highlighted several challenges for existing legal systems, especially in contexts where new technologies, such as artificial intelligence, are gaining ground. One of the many critical legal issues related to the advent of AI is certainly related to the protection of images, works and creations generated by such systems.
Following approval by the Standing Committee of the National People’s Congress on December 29, 2023, the revised Company Law of the People’s Republic of China (the “New Company Law”) is set to take effect on July 1, 2024. This revision marks the most comprehensive and substantial amendment to the Chinese Company Law since its enactment in 1993, nearly 30 years ago. The New Company Law will significantly impact the operations of foreign-invested companies in China. Drawing on our experience serving foreign-invested companies, this article aims to provide an overview of the major issues in the New Company Law for the reference of such companies.
On 29 December 2023, the 7th meeting of the Standing Committee of the 14th National People’s Congress amended and passed the Company Law of the People’s Republic of China ( “new Company Law”), which will come into effect on 1 July 2024. There are many important amendments in the new Company Law as compared with the previous version. This article mainly introduces the changes and tax implications of the new Company Law in relation to the equity transfer of limited liability companies (“LLCs”), for reference.
