Legislation roundup: Pharma, securities disputes and private equity

Pharmaceuticals

General Office of the State Council, Plan for the Pilot Project for the Arrangement by the State of the Centralized Procurement and Use of Pharmaceuticals

国务院办公厅国家组织药品集中采购和使用试点方案

The state is organizing a pilot project in the 11 municipalities of Beijing, Tianjin, Shanghai, Chongqing, Shenyang, Dalian, Xiamen, Guangzhou, Shenzhen, Chengdu and Xi'an for the centralized procurement and use of pharmaceuticals, selecting the pilot products from generic drugs that have undergone a consistency evaluation of their quality and efficacy.

See the digest for more details.

Further reading

Decision on Extending the Period of Authorization of the State Council to Launch a Pilot Project for the Marketing Authorization Holder System in Certain Regions

PRC Law on the Administration of Pharmaceuticals (2nd Revision)

Capital Markets

Shanghai Financial Court, Provisions on the Mechanism for Model Securities Dispute Judgments

上海金融法院关于证券纠纷示范判决机制的规定

A model case is a case among the mass of securities disputes that is representative in terms of the factual points of dispute and legal points of dispute, and the term "parallel case" means a case that has factual points of dispute and legal points of dispute in common with a model case.

In terms of the finding of facts, unless there is evidence to the contrary to overrule, the parties to a parallel case are not required to adduce separate evidence in respect of the facts in common that were found in the model judgment.

See the digest for more details.

Further reading

The Outlook for the Mainland and Hong Kong Capital Markets in 2019

The rise of securities litigation in China

Private Equity

Zhuhai City, Tentative Measures for the Administration of the Pilot Foreign-invested Equity Investment Enterprise Project

珠海市外商投资股权投资企业试点管理暂行办法

Zhuhai City allows foreign enterprises or individuals to establish foreign-invested equity investment enterprises that raise funds from domestic and foreign investors in a non-public manner to invest in enterprises of non-publicly traded equity.

See the full translation.

Further reading

Taking China's Asset Management to the Next Level

The Innovative Wave of Private Equity and Venture Capital in China

Tentative Measures for the Regulation of Private Investment Funds

Implementing Rules for the Private Offering of Shares by Listed Companies (2nd Revision)

Questions and Answers Concerning Registration and Record Filing of Private Funds (10)