Guanglei Zhang and Jinhui Zhang of Jingtian & Gongcheng examine the first decision of a Chinese court in which a secret pre-IPO agreement containing a valuation adjustment mechanism based on stock market price was declared invalid.
First Chinese court decision recognizes NFT as virtual property; international commercial law standards take effect in Hong Kong; and China's private pension sector set for rapid growth
Anti-unfair competition law draft prohibits improper use of others' commercial data. Parties may institute a civil case against monopolistic acts outside of mainland China. CBIRC sets forth criteria for engaging in private pensions.
Geoffrey Chan, Sophie Xue, and Nicholas Poon of Skadden, Arps, Slate, Meagher & Flom examine how the Hong Kong Limited Partnership Fund, which serves as a cost and tax efficient vehicle for private equity transactions, could become a popular alternative to traditional offshore fund structures for PE investments and fundraising in Greater China
New social credit draft law raises concerns for foreign companies; CSRC lifts ban on property M&A and refinancing; and U.K. government unwinds a completed transaction for the first time.