A little bit older, and a good deal wiser
September 04, 2009 | BY
clpstaff &clp articles &It's been a tough 12 months. When China Law & Practice last held its China Awards, just five days had passed since Lehman Brothers filed for Chapter 11 bankruptcy protection in New York ...
It's been a tough 12 months. When China Law & Practice last held its China Awards on September 18 2008, just five days had passed since Lehman Brothers filed for Chapter 11 bankruptcy protection in New York. What followed was what Willy Uy of Shui On Land described recently as “a time of great uncertainty”.
Since then, investors and their advisers have continued to have a bumpy ride. An unofficial halt was placed on new mainland listings (this was lifted only recently with the public offerings of, among others, Guilin Sanjin in Shenzhen and China State Construction in Shanghai); an Rmb4 trillion (US$586 billion) stimulus package was announced in November; labour disputes have continued to increase …
Throughout all of this, the government and market regulators rolled out scores of new rules and laws – CLP has translated 60 in the past year, and digested over 270. We have seen, among others, implementing regulations for the PRC Employment Contract Law (中华人民共和国劳动合同法), the third revision of the PRC Patent Law (中华人民共和国专利法), a significant amendment to the PRC Insurance Law, and many related enforcing rules and guidelines for the PRC Anti-monopoly Law (中华人民共和国反垄断法).
Lawsuits have increased, uncertainties have grown, the legal framework has become more complex, and everyone has grown a year older, and wiser than mere time would suggest.
But for China Law & Practice, selecting Awards finalists and ultimate winners has been no different. We have always strived to focus on innovation and excellence in our selections, and in 2009 those factors have become even more important as clients seek new ways of raising money, making investments and capitalising on rare opportunities.
This year all the lawyers and firms involved in this year's awards deserve particular credit for their hard work during a tough period for China, and the world.
I look forward to meeting many of you on September 23 in Shanghai. In the meantime, and as always, please feel free to share your thoughts, opinions and questions: simply click on the Add Comment button above, or contact by email directly at [email protected], or by phone on +852 2842 6936.
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