Legislation roundup: E-commerce, online dispute resolution and refinancing
February 21, 2020 | BY
Susan MokE-commerce platforms have IP infringement notification obligations, courts are given guidance to conduct online trials during the epidemic period and share offering rules are revised to facilitate refinancing of listed companies.
Retail and Wholesaling
Ministry of Commerce, Measures for the Administration of the Disclosure of Electronic Commerce Information (Draft for Comments)
Once an e-commerce platform operator receives notice from an intellectual property rights holder to the effect that it believes that its intellectual property has been infringed, the e-commerce platform operator shall, after verifying that the same satisfies relevant provisions, post the notice in the designated area within 48 hours.
Once the e-commerce platform operator receives a declaration submitted by the business operator on the platform to the effect that it has not committed an infringement, the e-commerce platform operator shall post such declaration in the designated area within 48 hours.
Further reading
Dispute Resolution
Supreme People's Court, Circular on Strengthening and Regulating Online Litigation Work During the Novel Coronavirus Pneumonia Epidemic Prevention and Control Period
People's courts at every level shall actively guide litigants into online litigation. Court sessions for civil, commercial and administrative cases can generally be held online. However, online hearings are not applicable where the parties to a case are not in agreement on online hearings, the technical conditions for online hearing are not met, identities need to be ascertained, originals verified and physical objects examined onsite, etc.
Further reading
Capital Markets
China Securities Regulatory Commission, Decision on Amending the <Measures for the Administration of Securities Offerings by Listed Companies>
China Securities Regulatory Commission, Decision on Amending the <Tentative Measures for the Administration of the Offering of Securities by Companies Listed on the Growth Enterprise Market>
China Securities Regulatory Commission, Decision on Amending the <Implementing Rules for the Private Offering of Shares by Listed Companies>
Offering conditions are to expand the coverage of the refinancing services of the Growth Enterprise Market. The condition requiring an asset to liability ratio of greater than 45% as at the end of the previous period to publicly offer securities on the Growth Enterprise Market is abolished.
Private system arrangements are optimized to support listed companies in bringing in strategic investors. The pricing and lockup mechanisms for the private offering of shares are revised.
Further reading
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