Mergers and acquisitions in China:
Gespeichert in:
| Format: | Buch |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Singapore
Sweet & Maxwell Asia
2007
|
| Ausgabe: | 2. ed. |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | LII, 364 S. |
| ISBN: | 9789810585167 |
Internformat
MARC
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Datensatz im Suchindex
| _version_ | 1804137183667290112 |
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| adam_text | TABLE OF CONTENTS TABLE OF ABBREVIATIONS XXIX LIST OF LAWS XXXI TABLE OF
LEGISLATION, NOTICES, CIRCULARS & CONVENTIONS XLIII CHAPTER 1 POLITICAL
AND ECONOMIC OVERVIEW POLITICAL OVERVIEW 1 STATE STRUCTURE 1
ORGANISATIONS OF CPC 1 THE NATIONAL PEOPLE S CONGRESS 4 REGIONAL AND
LOCAL GOVERNMENT 5 THE MILITARY 6 THE PRESIDENT 6 STATUS OF THE
PRESIDENT 7 FUNCTIONS OF THE PRESIDENT 7 DOMESTIC AFFAIRS 7 FOREIGN
AFFAIRS 7 ECONOMIC OVERVIEW 7 ECONOMIC RESTRUCTURING 10 FOREIGN POLICY
14 OPPORTUNITIES AND CHALLENGES 16 CHALLENGES 17 ACQUISITION BY CHINESE
COMPANIES OUTSIDE CHINA 19 CHAPTER 2 FREE TRADE AND ITS IMPACT ON
MERGERS AND ACQUISITIONS IN CHINA INTRODUCTION 21 CHINA S ACCESSION TO
THE WTO 22 THE WTO 22 CHINA S RESPONSE TO WTO ACCESSION 24 BANKING AND
FINANCIAL SERVICES 24 RETAIL AND LOGISTICS 25 CIVIL AVIATION 25
TELECOMMUNICATIONS 26 CHINA S WTO IMPLEMENTATION PROGRESS 27 CURRENT
ISSUES ARISING FROM CHINA S WTO ACCESSION 28 LACK OF TRANSPARENCY 29
INTELLECTUAL PROPERTY 30 CONCLUSION 32 XVI MERGERS AND ACQUISITIONS IN
CHINA CHAPTER 3 FOREIGN INVESTMENT ENTERPRISES INTRODUCTION 33 COMMON
FORMS OF DOING BUSINESS 33 EQUITY JOINT VENTURES 36 LAWS AND REGULATIONS
GOVERNING EJVS 36 CHARACTERISTICS OF EJVS 37 APPLICATION PROCESS 38
CONTRACTUAL JOINT VENTURES 38 LAWS AND REGULATIONS GOVERNING CJVS 38
CHARACTERISTICS OF CJVS .39 APPLICATION PROCESS 39 WHOLLY FOREIGN-OWNED
ENTERPRISES 40 LAWS AND REGULATIONS GOVERNING WFOES 41 CHARACTERISTICS
41 APPLICATION PROCESS 42 COMPARISON BETWEEN EJVS, CJVS AND WFOES 44
HOLDING COMPANIES 45 REPRESENTATIVE OFFICES 47 APPLICATION PROCESS 47
BRANCH 48 OTHER FORMS OF DOING BUSINESS 49 FOREIGN-INVESTED COMPANY
LIMITED BY SHARES 49 LEGAL FRAMEWORK 49 CHARACTERISTICS 49 FOREIGN
CONTRACTORS 50 BUSINESS SCOPE 51 THE ENCOURAGED CATEGORY 51 THE
RESTRICTED CATEGORY 52 THE PROHIBITED CATEGORY 52 THE PERMITTED CATEGORY
53 CHAPTER 4 TYPES OF ACQUISITIONS IN CHINA INTRODUCTION 55 COMMON TYPES
OF ACQUISITIONS 55 DIRECT ACQUISITIONS 56 LEGAL FRAMEWORK 57
LEGISLATION AND REGULATIONS RELATING TO MERGERS AND ACQUISITIONS 58
FIRST PILLAR * LAWS OF GENERAL APPLICATION 59 SECOND PILLAR * LAWS OF
SPECIFIC APPLICATION 60 THIRD PILLAR * DECREES AND MEASURES OF
GOVERNMENT AGENCIES 61 FOURTH PILLAR * SUPREME COURT JUDICIAL
INTERPRETATIONS 62 EXAMINATION AND APPROVAL OF ACQUISITIONS 64 TABLE OF
CONTENTS XVII DIRECT EQUITY ACQUISITIONS 65 ACQUISITIONS OF EQUITY
INTERESTS IN DOMESTIC COMPANIES 65 PROCESS 66 EXAMINATION AND APPROVAL
OF ACQUISITION 66 VALUATION OF TRANSACTION 67 NON-AFFILIATION 67
RESTRUCTURING 67 DOCUMENTATION REQUIREMENTS 67 AMENDED ARTICLES OF
ASSOCIATION 68 JOINT VENTURE CONTRACT 68 AUDITED FINANCIAL STATEMENTS 68
VALUATION REPORT 68 BRIEF DESCRIPTION OF TARGET ENTITY 68 EMPLOYEE
RESETTLEMENT PLAN 68 OTHER DOCUMENTATION 69 NON-GOVERNMENTAL AND OTHER
CONSENTS 69 APPROVAL FROM EMPLOYEES 69 CONTRACTUAL OBLIGATIONS 69
ANTI-TRUST REVIEW 69 REGISTRATION 69 ACQUISITIONS OF UNLISTED EQUITY
INTERESTS IN FIES 70 PROCESS 70 EXAMINATION AND APPROVAL 70 TRANSACTIONS
INVOLVING STATE-INVESTED FIES 71 DOCUMENTATION 71 ORIGINAL AND AMENDED
CONSTITUTIVE DOCUMENTS 71 VALUATION REPORT 71 OTHER DOCUMENTS 72
NON-GOVERNMENTAL AND OTHER APPROVALS 72 BOARD APPROVAL 72 REGISTRATION
72 ADVANTAGES AND DISADVANTAGES 73 ADVANTAGES * AS AGAINST ASSET
ACQUISITIONS 73 DISADVANTAGES * AS AGAINST INDIRECT EQUITY
ACQUISITIONS 73 DISADVANTAGES * AS AGAINST ASSET ACQUISITIONS 73
DIRECT ASSET ACQUISITIONS 73 PROCESS 74 DOCUMENTATION REQUIREMENTS 74
APPLICATION FOR ESTABLISHMENT OF THE NEW FIE 74 CONSTITUTIVE DOCUMENTS
OF THE NEW FIE 74 EMPLOYEE RESETTLEMENT PLAN 75 NOTIFICATION TO
CREDITORS 75 OTHER DOCUMENTATION 75 OTHER REGULATORY APPROVALS 75
SPECIAL INDUSTRIES 75 NON-GOVERNMENT AND OTHER APPROVALS 76 XVIII
MERGERS AND ACQUISITIONS IN CHINA REGISTRATION 76 ADVANTAGES AND
DISADVANTAGES 76 ADVANTAGES * AS AGAINST EQUITY ACQUISITIONS 76
DISADVANTAGES * AS AGAINST EQUITY ACQUISITIONS 76 PAYMENT AND SETTLEMENT
ISSUES 76 SHARE SWAPS 77 ANTI-TRUST REVIEW 78 INDIRECT ACQUISITIONS 80
ANTI-TRUST REVIEW * INDIRECT ACQUISITIONS 80 ADVANTAGES AND
DISADVANTAGES 81 ADVANTAGES * AS AGAINST ASSET ACQUISITIONS 81
DISADVANTAGES * AS AGAINST DIRECT EQUITY ACQUISITIONS 81 DISADVANTAGES
* AS AGAINST ASSET ACQUISITIONS 81 SPECIAL TYPES OF ACQUISITIONS 81
ACQUISITIONS INVOLVING STATE-OWNED COMPANIES/ STATE-OWNED ASSETS 83
LISTED COMPANY ACQUISITIONS 83 CHAPTER 5 DUE DILIGENCE FOR MERGERS &
ACQUISITIONS IN CHINA GROWTH OF MERGERS & ACQUISITIONS IN CHINA 85 WHY
CONDUCT DUE DILIGENCE ? 86 WHAT SHOULD DUE DILIGENCE COVER? 87 WHO
CONDUCTS THE DUE DILIGENCE ? 87 THE PRACTICAL REALITIES OF THE DUE
DILIGENCE PROCESS 88 OVERVIEW OF KEY ISSUES IN A DUE DILIGENCE EXERCISE
90 ACCOUNTING STANDARDS 9 0 TAX 92 REGULATORY COMPLIANCE 93 SHAREHOLDING
95 LAND 96 ASSETS 97 THE PEOPLE FACTOR 98 ENVIRONMENTAL ISSUES 100 POST
COMPLETION ISSUES 101 CONCLUSION 102 LEGAL DUE DILIGENCE CHECKLIST FOR
COMPANIES INCORPORATED IN THE PEOPLE S REPUBLIC OF CHINA 103 CHAPTER 6
APPROVALS AND CONSENTS PROCEDURES FOR ESTABLISHMENT OF A NEW FOREIGN-
INVESTED ENTERPRISE 113 GENERAL 113 TABLE OF CONTENTS XIX GOVERNMENT
APPROVALS 114 TYPICAL APPROVAL PROCESS 115 LEGACY ISSUES 116 CONCEPT OF
SHARE SWAP INTRODUCED 117 RELATED PARTY TRANSACTIONS 119 FOREIGN
INVESTMENT PROCEDURES SPECIFIC TO CERTAIN INDUSTRIES 119 BANKS AND
FINANCIAL INSTITUTIONS 119 EQUITY INVESTMENT IN CHINESE FINANCIAL
INSTITUTIONS BY OVERSEAS FINANCIAL INSTITUTIONS 120 CONDITIONS AND
PROCEDURES 121 RETAIL AND DISTRIBUTION INDUSTRY 123 CONDITIONS AND
PROCEDURES 124 SHIPPING INDUSTRY 125 APPROVAL PROCESS 125 CONDITIONS AND
PROCEDURES 126 INTERNATIONAL SHIPPING ENTERPRISE 126 INTERNATIONAL
SHIPPING AGENCY ENTERPRISE 127 INTERNATIONAL SHIP MANAGEMENT ENTERPRISE
127 INTERNATIONAL FREIGHT AGENCY ENTERPRISE 128 TELECOMMUNICATIONS
INDUSTRY 129 CONDITIONS AND PROCEDURES 130 FOREIGN-FUNDED
TELECOMMUNICATIONS ENTERPRISE ESTABLISHED TO PROVIDE BASIC
TELECOMMUNICATIONS SERVICES OR MULTI-PROVINCIAL, MULTI-AUTONOMOUS
REGIONAL OR MULTI-MUNICIPALITY VALUE-ADDED TELECOMMUNICATIONS SERVICES
( TYPE 1 TELECOMMUNICATIONS ENTERPRISE ) 131 FOREIGN-FUNDED
TELECOMMUNICATIONS ENTERPRISE ESTABLISHED TO PROVIDE VALUE-ADDED
TELECOMMUNICATIONS SERVICES WITHIN A PROVINCE, AN AUTONOMOUS REGION OR A
MUNICIPALITY ( TYPE 2 TELECOMMUNICATIONS ENTERPRISE ) 132 FOREIGN-FUNDED
TELECOMMUNICATIONS ENTERPRISE ESTABLISHED TO PROVIDE MULTI-NATIONAL
TELECOMMUNICATIONS SERVICES 132 CIVIL AVIATION INDUSTRY 132 CONDITIONS
AND PROCEDURES 133 NON-REGULATORY APPROVALS AND CONSENTS, NOTIFICATIONS
AND PUBLIC ANNOUNCEMENTS 133 ANTI-MONOPOLY PROTECTION 134 CHAPTER 7
DOCUMENTATION AND NEGOTIATION IN MERGER AND ACQUISITION TRANSACTIONS
DOCUMENTATION 137 SALE AND PURCHASE AGREEMENT 138 REPRESENTATIONS,
WARRANTIES AND UNDERTAKINGS 139 XX MERGERS AND ACQUISITIONS IN CHINA
ASSETS LIST 142 GROUP STRUCTURE AND DETAILS 143 CONSIDERATION, PAYMENT
MODE AND PAYMENT SCHEDULE 143 EXCEPTIONAL ARRANGEMENTS WITH RESPECT TO
CREDITORS RIGHTS AND LIABILITIES 145 INDEMNITY 145 GOVERNING LAW AND
DISPUTE RESOLUTION 145 EFFECTIVENESS OF THE S&P AGREEMENT 146 PROVISIONS
TO PROTECT FOREIGN INVESTOR S INTEREST IN THE IMMEDIATE TERM 147 SHARE
SUBSCRIPTION AGREEMENT 147 FIE ESTABLISHMENT DOCUMENTATION 147 EQUITY
JOINT VENTURE DOCUMENTATION 147 JOINT VENTURE CONTRACT 147 REGISTERED
CAPITAL AND TOTAL INVESTMENT AMOUNT 149 INVESTMENT IN KIND 149
OBLIGATIONS OF THE JOINT VENTURE PARTIES TO THE EJV. 150 BOARD OF
DIRECTORS 151 DISTRIBUTION OF PROFITS 15 2 TERMINATION EVENTS 153
ARTICLES OF ASSOCIATION 153 WHOLLY FOREIGN-OWNED ENTERPRISE
DOCUMENTATION 153 COOPERATION JOINT VENTURE DOCUMENTATION 154 OTHER
DOCUMENTS 155 NEGOTIATION 156 FINANCIAL AND LEGAL DUE DILIGENCE AND
CORPORATE INVESTIGATIONS 156 BUSINESS AND FINANCIAL MODELLING 157
PRE-NEGOTIATION STRATEGISING 157 DRAFTING AND PREPARING THE PRELIMINARY
DRAFTS OF THE DOCUMENTATION FOR NEGOTIATION 157 AT THE NEGOTIATION TABLE
158 COMPLETION 160 REGISTRATION PROCEDURES 160 CAPITAL
CONTRIBUTION/COOPERATION CONDITIONS AND VERIFICATION 161 FOREIGN
INVESTMENT BELOW 25 PERCENT 161 EXIT STRATEGIES 162 DISSOLUTION AND
LIQUIDATION OF FIES 162 LIQUIDATION PROCEDURES 162 ASSIGNMENT OF EQUITY
INTERESTS 163 INITIAL PUBLIC OFFERINGS * DOMESTICALLY AND
INTERNATIONALLY 164 RECOVERY OF INVESTMENT IN ADVANCE DURING THE CJV S
TERM OF OPERATIONS 164 TABLE OF CONTENTS XXI CHAPTER 8 EMPLOYMENT ISSUES
IN MERGER AND ACQUISITION TRANSACTIONS INTRODUCTION 165 REVIEW OF LABOUR
MANAGEMENT ISSUES FOR FOREIGN INVESTORS IN CHINA 166 ACQUISITION OF
CHINESE DOMESTIC ENTERPRISES 166 WAGES, INSURANCE AND WELFARE EXPENSES
168 INJURY OR DISABILITY CAUSED WHILE ON DUTY 169 ACQUISITION OF
STATE-OWNED ENTERPRISES 170 OBLIGATIONS TO RETAIN EXISTING EMPLOYEES 170
VARIATIONS IN LOCAL POLICIES 172 DISPUTE RESOLUTION/ARBITRATION ON
LABOUR ISSUES 173 EXPATRIATES 173 CHAPTER 9 TAX IMPLICATIONS OF MERGERS
AND ACQUISITIONS IN THE PRC INTRODUCTION 177 OVERVIEW OF THE SYSTEM OF
TAXES IN CHINA 178 TAX SYSTEM 178 CONSIDERATION OF THE RELEVANT TAXES
179 INCOME TAX 179 FOREIGN ENTERPRISE INCOME TAX 179 LOCAL ENTERPRISE
INCOME TAX 180 STAMP TAX/DUTY 181 VALUE-ADDED TAX 183 CONTRACT
PROCESSING ARRANGEMENT 185 SMALL-SCALE VAT TAXPAYERS 186 LAND
VALUE-ADDED TAX 186 BUSINESS TAX 188 DEED TAX 190 CUSTOMS DUTY AND
IMPORT VALUE-ADDED TAX 192 TRANSACTIONAL ANALYSIS 192 EQUITY ACQUISITION
193 ASSET ACQUISITION 194 MERGERS 195 TAX TREATIES 197 PREFERENTIAL TAX
TREATMENT 200 PRODUCTION ENTERPRISES 201 EXPORT-ORIENTED ENTERPRISES 202
XXII MERGERS AND ACQUISITIONS IN CHINA TECHNOLOGICALLY ADVANCED
ENTERPRISES 202 TAX REFUND ON REINVESTMENT 202 TECHNOLOGY DEVELOPMENT
202 DUTY FREE IMPORT OF EQUIPMENT 202 DOMESTIC PURCHASE OF EQUIPMENT 203
FREE TRADE ZONES AND LOGISTICS PARKS 203 OLD INDUSTRIAL BASE IN
NORTHEASTERN CHINA 203 CHAPTER 10 EXCHANGE CONTROL BRIEF HISTORY 205 THE
CURRENT REGIME 206 CAPITAL ACCOUNT AND CURRENT ACCOUNT DISTINCTION 207
SUPERVISION AND ADMINISTRATION BY SAFE 207 TIGHTENING CONTROLS DURING
THE FINANCIAL CRISIS 208 GENERAL SUMMARY OF RESTRICTIONS 208 CERTAIN
ISSUES FOR CONSIDERATION 214 RECENT DEVELOPMENTS 214 SAFE CIRCULARS OF
JANUARY AND APRIL 2005 215 SAFE CIRCULAR OF 21 OCTOBER 2005 217 NEW
REGULATION REGIME ESTABLISHED BY SAFE OCTOBER CIRCULAR 218 REMITTANCE OF
FUNDS 220 BUSINESS AS USUAL? 220 CONCLUSION 221 CHAPTER 11 INTELLECTUAL
PROPERTY INTERNATIONAL TREATIES 223 TRADEMARKS 226 REGISTRATION 228
APPLICATION 228 ASSIGNMENTS AND LICENCES 229 TERM OF PROTECTION 230
COPYRIGHT 230 TERM OF PROTECTION 234 ASSIGNMENT 234 PATENTS 234 GRANT
236 TERM OF PROTECTION 237 COMPULSORY LICENSING, ASSIGNMENTS, LICENCES
237 REGULATIONS ON THE PROTECTION OF LAYOUT-DESIGNS OF INTEGRATED
CIRCUITS 239 REGISTRATION 239 TERM OF PROTECTION 240 COMPULSORY
LICENSING, ASSIGNMENT 240 TABLE OF CONTENTS XXIII TECHNOLOGY
TRANSFER/TRADE SECRETS 240 TRADE SECRETS 241 INTELLECTUAL PROPERTY
PROTECTION 242 TRADEMARK INFRINGEMENTS 243 REMEDIES 244 CRIMINAL
LIABILITIES 244 COPYRIGHT INFRINGEMENTS 244 REMEDIES 244 CRIMINAL
LIABILITIES 245 FILING COMPLAINTS WITH ADMINISTRATIVE AUTHORITIES
AGAINST INFRINGEMENT 246 PATENT INFRINGEMENTS 247 REMEDIES 247 CRIMINAL
LIABILITY 247 REGISTERED LAYOUT-DESIGN INFRINGEMENTS 247 REMEDIES 248
TRADE SECRET INFRINGEMENTS 248 REMEDIES 24 8 CUSTOMS PROTECTION 248
RECENT REPORTS 249 DUE DILIGENCE ASPECTS 250 IDENTIFY INTELLECTUAL
PROPERTY ASSETS TO BE ACQUIRED 250 IDENTIFY RISKS 252 INFRINGEMENT 252
TERRITORY COVERED BY INTELLECTUAL PROPERTY RIGHTS PROTECTION 252
STRUCTURE OF THE TRANSACTION 252 IDENTIFY POST-COMPLETION MATTERS 253
TARGET COMPANY RETAINING INTELLECTUAL PROPERTY 253 CHAPTER 12
POST-ACQUISITION ISSUES INTRODUCTION 255 REGISTRATION REQUIREMENTS FOR
NEW BUSINESS LICENCE FOR NEW FIE OR FOR CONVERSION INTO AN FIE 258
INTERIM PROVISIONS FOR MERGERS AND ACQUISITIONS OF DOMESTIC ENTERPRISE
BY FOREIGN INVESTORS 259 ACQUISITION OF EQUITY 259 INCREASE IN
REGISTERED CAPITAL 259 ACQUISITION OF ASSETS 260 WHERE FOREIGN
INVESTMENT CONTRIBUTION IS LESS THAN 25% OF NEW FIE S REGISTERED CAPITAL
260 APPLICATION FOR ORGANISATIONAL INSTITUTION CODE CERTIFICATE 260
APPLICATION FOR RELEVANT TAX REGISTRATION XXIV MERGERS AND ACQUISITIONS
IN CHINA CERTIFICATES 261 APPLICATION FOR FOREIGN EXCHANGE REGISTRATION
CERTIFICATE 263 BANK ACCOUNTS FOR CAPITAL INJECTION AND PROCEDURE FOR
REMITTANCE OF FOREIGN EXCHANGE 263 CAPITAL AND ASSET VERIFICATION 264
ANNUAL FILINGS AND NOTIFICATIONS 265 OTHER POST-ACQUISITION ISSUES 266
LAND ADMINISTRATION 266 CUSTOMS ADMINISTRATION 266 ENVIRONMENTAL
PROTECTION REGULATIONS 267 LABOUR MANAGEMENT REGULATIONS 267 INSURANCE
268 CONCLUSION 268 CHAPTER 13 MERGERS AND ACQUISITIONS OF LISTED
COMPANIES INTRODUCTION 271 SHARES ISSUED BY LISTED COMPANIES 271
NON-TRADABLE SHARES 274 METHODS OF ACQUISITION 275 ACQUISITION BY
AGREEMENT 275 ACQUISITION BY ON-MARKET PURCHASES 275 ACQUISITION BY
TAKE-OVER OFF ER 275 LEGAL FRAMEWORK 276 ACQUISITION OF NON-TRADED
STATE-OWNED AND LEGAL PERSON SHARES 277 CSRC TAKE-OVER RULES 278
ACQUISITION BY AGREEMENT 279 ACQUISITION BY TAKE-OVER OFFER 280
DISCLOSURE 283 DEFENCE MECHANISMS 284 MANAGEMENT BUY-OUT 284 DISCLOSURE
REQUIREMENTS 285 INSIDER TRADING 286 APPENDIX - SAMPLE DISCLOSURE FORMAT
287 APPENDIX 288 CHAPTER 14 MERGERS AND ACQUISITIONS OF STATE-OWNED
ENTERPRISES INTRODUCTION AND BACKGROUND 291 TABLE OF CONTENTS XXV PRC
LEGAL REGIME IN RELATION TO MERGERS AND ACQUISITIONS INVOLVING SOES 293
POLICIES AND REGULATIONS IN RELATION TO MERGERS AND ACQUISITIONS OF
LISTED SOES BY FOREIGN INVESTORS 294 REGULATIONS IN RELATION TO TRANSFER
OF STATE-OWNED ASSETS 296 MERGERS AND ACQUISITIONS INVOLVING SOES 297
MERGERS AND ACQUISITIONS INVOLVING AN UNLISTED COMPANY 297 MERGERS AND
ACQUISITIONS INVOLVING A LISTED COMPANY 297 MAJOR CONCERNS INVOLVING M&A
WITH SOES 29 9 LONG-TERM PLAN 299 SELECTION AND SCREENING 299
RESTRUCTURING OF THE SOE S CORE BUSINESS 299 QUALIFICATIONS OF THE
FOREIGN INVESTOR 300 VALUATION OF STATE-OWNED ASSETS 300 APPROVAL
PROCESS 301 CONSIDERATION AND PAYMENT SCHEDULE 303 WORKFORCE AND
MANAGEMENT REDUNDANCY 305 BEING PREPARED 306 DUE DILIGENCE 307 FACTORS
TO CONSIDER 308 UNDERSTANDING THE TARGET SOE 308 OPERATIONS OF THE SOE
309 MAIN ASSETS 309 EMPLOYEE INFORMATION 309 INVESTMENTS OF THE TARGET
SOE 309 EXISTING MATERIAL CONTRACTS 309 TAX STATUS 310 ENVIRONMENTAL
CONTROL ISSUES 310 OUTSTANDING LITIGATION, ARBITRATION OR ADMINISTRATIVE
PENALTIES 310 PROPER LEGAL DOCUMENTATION 310 WARRANTIES AND
REPRESENTATIONS 310 UNDERTAKINGS 311 CONDITIONS PRECEDENT 311 EXIT
MECHANISM 312 FLEXIBILITY AND PATIENCE 312 CHAPTER 15 CIVIL LITIGATION
INTRODUCTION 313 THE CHINESE SYSTEM OF LAW 313 CIVIL LAW SYSTEM 314 XXVI
MERGERS AND ACQUISITIONS IN CHINA CIVIL PROCEDURE LAW 314 STRUCTURE OF
COURTS IN CHINA 314 THE BASIC PEOPLE S COURTS 315 INTERMEDIATE PEOPLE S
COURTS 315 HIGHER PEOPLE S COURTS 315 SUPREME PEOPLE S COURT 316 SPECIAL
COURTS 316 PEOPLE S PROCURATORATES 317 COURT PROCESSES 317 PERCEPTION OF
THE JUDICIAL SYSTEM 318 JURISDICTION 319 TORTIOUS ACTION 320
JURISDICTION CLAUSES IN M&A TRANSACTIONS 320 EXCLUSIVE JURISDICTION IN
THE CHINESE COURTS 321 DOCTRINE OF FORUM NON-CONVENIENS 322 ARBITRATION
CLAUSES 322 LIMITATION OF ACTIONS IN CHINA 322 LITIGATION PROCEDURES 323
DEFENCE 324 INVESTIGATION BY THE COURTS 324 TRIAL 324 FIRST STAGE OF
TRIAL * COURT INVESTIGATION 324 SECOND STAGE OF TRIAL * COURT DEBATE 325
THIRD STAGE * MEDIATION OR JUDGMENT 325 APPEALS 325 ENFORCEMENT OF
JUDGMENT OR WRITTEN ORDER 326 BANKRUPTCY PROCEDURE 327 ACCEPTANCE OF
BANKRUPTCY PETITION 327 PROOF OF CLAIMS 328 CREDITORS MEETING 328
SETTLEMENT AGREEMENT 328 BANKRUPTCY OF DEBTOR 328 DISTRIBUTION OF
BANKRUPT S ASSETS 329 PRE-ACTION PROPERTY PRESERVATION AND ADVANCE
EXECUTION 329 RECOGNITION OF FOREIGN JUDGMENTS 330 INTERNATIONAL
TREATIES * THE HAGUE CONVENTION 331 CONCLUSION 332 CHAPTER 16
ARBITRATION AND ALTERNATIVE DISPUTE RESOLUTION INTRODUCTION 333
ARBITRATION VERSUS LITIGATION 334 ALTERNATIVE DISPUTE RESOLUTION OTHER
TABLE OF CONTENTS XXVII THAN ARBITRATION 336 NEGOTIATIONS 336 MEDIATION
OR CONCILIATION 337 ARBITRATION 339 DOMESTIC ARBITRATION IN CHINA 340
INTERNATIONAL ARBITRATION IN CHINA 340 INTERNATIONAL ARBITRATION OUTSIDE
CHINA 342 COURT ASSISTANCE IN ARBITRATION PROCEEDINGS 343 JURISDICTION
OF ARBITRATION TRIBUNAL 344 INTERIM MEASURES 344 VALID DISPUTE
RESOLUTION CLAUSE 345 ENFORCEMENT OF ARBITRAL AWARDS 347 OVERSEAS
ARBITRATION AWARDS IN CHINA 349 CHINESE ARBITRATION AWARDS OVERSEAS 350
CONCLUSION 351
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| adam_txt |
TABLE OF CONTENTS TABLE OF ABBREVIATIONS XXIX LIST OF LAWS XXXI TABLE OF
LEGISLATION, NOTICES, CIRCULARS & CONVENTIONS XLIII CHAPTER 1 POLITICAL
AND ECONOMIC OVERVIEW POLITICAL OVERVIEW 1 STATE STRUCTURE 1
ORGANISATIONS OF CPC 1 THE NATIONAL PEOPLE'S CONGRESS 4 REGIONAL AND
LOCAL GOVERNMENT 5 THE MILITARY 6 THE PRESIDENT 6 STATUS OF THE
PRESIDENT 7 FUNCTIONS OF THE PRESIDENT 7 DOMESTIC AFFAIRS 7 FOREIGN
AFFAIRS 7 ECONOMIC OVERVIEW 7 ECONOMIC RESTRUCTURING 10 FOREIGN POLICY
14 OPPORTUNITIES AND CHALLENGES 16 CHALLENGES 17 ACQUISITION BY CHINESE
COMPANIES OUTSIDE CHINA 19 CHAPTER 2 FREE TRADE AND ITS IMPACT ON
MERGERS AND ACQUISITIONS IN CHINA INTRODUCTION 21 CHINA'S ACCESSION TO
THE WTO 22 THE WTO 22 CHINA'S RESPONSE TO WTO ACCESSION 24 BANKING AND
FINANCIAL SERVICES 24 RETAIL AND LOGISTICS 25 CIVIL AVIATION 25
TELECOMMUNICATIONS 26 CHINA'S WTO IMPLEMENTATION PROGRESS 27 CURRENT
ISSUES ARISING FROM CHINA'S WTO ACCESSION 28 LACK OF TRANSPARENCY 29
INTELLECTUAL PROPERTY 30 CONCLUSION 32 XVI MERGERS AND ACQUISITIONS IN
CHINA CHAPTER 3 FOREIGN INVESTMENT ENTERPRISES INTRODUCTION 33 COMMON
FORMS OF DOING BUSINESS 33 EQUITY JOINT VENTURES 36 LAWS AND REGULATIONS
GOVERNING EJVS 36 CHARACTERISTICS OF EJVS 37 APPLICATION PROCESS 38
CONTRACTUAL JOINT VENTURES 38 LAWS AND REGULATIONS GOVERNING CJVS 38
CHARACTERISTICS OF CJVS .39 APPLICATION PROCESS 39 WHOLLY FOREIGN-OWNED
ENTERPRISES 40 LAWS AND REGULATIONS GOVERNING WFOES 41 CHARACTERISTICS
41 APPLICATION PROCESS 42 COMPARISON BETWEEN EJVS, CJVS AND WFOES 44
HOLDING COMPANIES 45 REPRESENTATIVE OFFICES 47 APPLICATION PROCESS 47
BRANCH 48 OTHER FORMS OF DOING BUSINESS 49 FOREIGN-INVESTED COMPANY
LIMITED BY SHARES 49 LEGAL FRAMEWORK 49 CHARACTERISTICS 49 FOREIGN
CONTRACTORS 50 BUSINESS SCOPE 51 THE ENCOURAGED CATEGORY 51 THE
RESTRICTED CATEGORY 52 THE PROHIBITED CATEGORY 52 THE PERMITTED CATEGORY
53 CHAPTER 4 TYPES OF ACQUISITIONS IN CHINA INTRODUCTION 55 COMMON TYPES
OF ACQUISITIONS 55 'DIRECT'ACQUISITIONS 56 LEGAL FRAMEWORK 57
LEGISLATION AND REGULATIONS RELATING TO MERGERS AND ACQUISITIONS 58
FIRST PILLAR * LAWS OF GENERAL APPLICATION 59 SECOND PILLAR * LAWS OF
SPECIFIC APPLICATION 60 THIRD PILLAR * DECREES AND MEASURES OF
GOVERNMENT AGENCIES 61 FOURTH PILLAR * SUPREME COURT JUDICIAL
INTERPRETATIONS 62 EXAMINATION AND APPROVAL OF ACQUISITIONS 64 TABLE OF
CONTENTS XVII 'DIRECT'EQUITY ACQUISITIONS 65 ACQUISITIONS OF EQUITY
INTERESTS IN DOMESTIC COMPANIES 65 PROCESS 66 EXAMINATION AND APPROVAL
OF ACQUISITION 66 VALUATION OF TRANSACTION 67 NON-AFFILIATION 67
RESTRUCTURING 67 DOCUMENTATION REQUIREMENTS 67 AMENDED ARTICLES OF
ASSOCIATION 68 JOINT VENTURE CONTRACT 68 AUDITED FINANCIAL STATEMENTS 68
VALUATION REPORT 68 BRIEF DESCRIPTION OF TARGET ENTITY 68 EMPLOYEE
RESETTLEMENT PLAN 68 OTHER DOCUMENTATION 69 NON-GOVERNMENTAL AND OTHER
CONSENTS 69 APPROVAL FROM EMPLOYEES 69 CONTRACTUAL OBLIGATIONS 69
ANTI-TRUST REVIEW 69 REGISTRATION 69 ACQUISITIONS OF UNLISTED EQUITY
INTERESTS IN FIES 70 PROCESS 70 EXAMINATION AND APPROVAL 70 TRANSACTIONS
INVOLVING STATE-INVESTED FIES 71 DOCUMENTATION 71 ORIGINAL AND AMENDED
CONSTITUTIVE DOCUMENTS 71 VALUATION REPORT 71 OTHER DOCUMENTS 72
NON-GOVERNMENTAL AND OTHER APPROVALS 72 BOARD APPROVAL 72 REGISTRATION
72 ADVANTAGES AND DISADVANTAGES 73 ADVANTAGES * AS AGAINST ASSET
ACQUISITIONS 73 DISADVANTAGES * AS AGAINST 'INDIRECT' EQUITY
ACQUISITIONS 73 DISADVANTAGES * AS AGAINST ASSET ACQUISITIONS 73
'DIRECT'ASSET ACQUISITIONS 73 PROCESS 74 DOCUMENTATION REQUIREMENTS 74
APPLICATION FOR ESTABLISHMENT OF THE NEW FIE 74 CONSTITUTIVE DOCUMENTS
OF THE NEW FIE 74 EMPLOYEE RESETTLEMENT PLAN 75 NOTIFICATION TO
CREDITORS 75 OTHER DOCUMENTATION 75 OTHER REGULATORY APPROVALS 75
SPECIAL INDUSTRIES 75 NON-GOVERNMENT AND OTHER APPROVALS 76 XVIII
MERGERS AND ACQUISITIONS IN CHINA REGISTRATION 76 ADVANTAGES AND
DISADVANTAGES 76 ADVANTAGES * AS AGAINST EQUITY ACQUISITIONS 76
DISADVANTAGES * AS AGAINST EQUITY ACQUISITIONS 76 PAYMENT AND SETTLEMENT
ISSUES 76 SHARE SWAPS 77 ANTI-TRUST REVIEW 78 'INDIRECT'ACQUISITIONS 80
ANTI-TRUST REVIEW * INDIRECT ACQUISITIONS 80 ADVANTAGES AND
DISADVANTAGES 81 ADVANTAGES * AS AGAINST ASSET ACQUISITIONS 81
DISADVANTAGES * AS AGAINST 'DIRECT' EQUITY ACQUISITIONS 81 DISADVANTAGES
* AS AGAINST ASSET ACQUISITIONS 81 SPECIAL TYPES OF ACQUISITIONS 81
ACQUISITIONS INVOLVING STATE-OWNED COMPANIES/ STATE-OWNED ASSETS 83
LISTED COMPANY ACQUISITIONS 83 CHAPTER 5 DUE DILIGENCE FOR MERGERS &
ACQUISITIONS IN CHINA GROWTH OF MERGERS & ACQUISITIONS IN CHINA 85 WHY
CONDUCT'DUE DILIGENCE'? 86 WHAT SHOULD 'DUE DILIGENCE' COVER? 87 WHO
CONDUCTS THE 'DUE DILIGENCE'? 87 THE PRACTICAL REALITIES OF THE DUE
DILIGENCE PROCESS 88 OVERVIEW OF KEY ISSUES IN A DUE DILIGENCE EXERCISE
90 ACCOUNTING STANDARDS 9 0 TAX 92 REGULATORY COMPLIANCE 93 SHAREHOLDING
95 LAND 96 ASSETS 97 THE PEOPLE FACTOR 98 ENVIRONMENTAL ISSUES 100 POST
COMPLETION ISSUES 101 CONCLUSION 102 LEGAL DUE DILIGENCE CHECKLIST FOR
COMPANIES INCORPORATED IN THE PEOPLE'S REPUBLIC OF CHINA 103 CHAPTER 6
APPROVALS AND CONSENTS PROCEDURES FOR ESTABLISHMENT OF A NEW FOREIGN-
INVESTED ENTERPRISE 113 GENERAL 113 TABLE OF CONTENTS XIX GOVERNMENT
APPROVALS 114 TYPICAL APPROVAL PROCESS 115 LEGACY ISSUES 116 CONCEPT OF
SHARE SWAP INTRODUCED 117 RELATED PARTY TRANSACTIONS 119 FOREIGN
INVESTMENT PROCEDURES SPECIFIC TO CERTAIN INDUSTRIES 119 BANKS AND
FINANCIAL INSTITUTIONS 119 EQUITY INVESTMENT IN CHINESE FINANCIAL
INSTITUTIONS BY OVERSEAS FINANCIAL INSTITUTIONS 120 CONDITIONS AND
PROCEDURES 121 RETAIL AND DISTRIBUTION INDUSTRY 123 CONDITIONS AND
PROCEDURES 124 SHIPPING INDUSTRY 125 APPROVAL PROCESS 125 CONDITIONS AND
PROCEDURES 126 INTERNATIONAL SHIPPING ENTERPRISE 126 INTERNATIONAL
SHIPPING AGENCY ENTERPRISE 127 INTERNATIONAL SHIP MANAGEMENT ENTERPRISE
127 INTERNATIONAL FREIGHT AGENCY ENTERPRISE 128 TELECOMMUNICATIONS
INDUSTRY 129 CONDITIONS AND PROCEDURES 130 FOREIGN-FUNDED
TELECOMMUNICATIONS ENTERPRISE ESTABLISHED TO PROVIDE BASIC
TELECOMMUNICATIONS SERVICES OR MULTI-PROVINCIAL, MULTI-AUTONOMOUS
REGIONAL OR MULTI-MUNICIPALITY VALUE-ADDED TELECOMMUNICATIONS SERVICES
('TYPE 1 TELECOMMUNICATIONS ENTERPRISE') 131 FOREIGN-FUNDED
TELECOMMUNICATIONS ENTERPRISE ESTABLISHED TO PROVIDE VALUE-ADDED
TELECOMMUNICATIONS SERVICES WITHIN A PROVINCE, AN AUTONOMOUS REGION OR A
MUNICIPALITY ('TYPE 2 TELECOMMUNICATIONS ENTERPRISE') 132 FOREIGN-FUNDED
TELECOMMUNICATIONS ENTERPRISE ESTABLISHED TO PROVIDE MULTI-NATIONAL
TELECOMMUNICATIONS SERVICES 132 CIVIL AVIATION INDUSTRY 132 CONDITIONS
AND PROCEDURES 133 NON-REGULATORY APPROVALS AND CONSENTS, NOTIFICATIONS
AND PUBLIC ANNOUNCEMENTS 133 ANTI-MONOPOLY PROTECTION 134 CHAPTER 7
DOCUMENTATION AND NEGOTIATION IN MERGER AND ACQUISITION TRANSACTIONS
DOCUMENTATION 137 SALE AND PURCHASE AGREEMENT 138 REPRESENTATIONS,
WARRANTIES AND UNDERTAKINGS 139 XX MERGERS AND ACQUISITIONS IN CHINA
ASSETS LIST 142 GROUP STRUCTURE AND DETAILS 143 CONSIDERATION, PAYMENT
MODE AND PAYMENT SCHEDULE 143 EXCEPTIONAL ARRANGEMENTS WITH RESPECT TO
CREDITORS' RIGHTS AND LIABILITIES 145 INDEMNITY 145 GOVERNING LAW AND
DISPUTE RESOLUTION 145 EFFECTIVENESS OF THE S&P AGREEMENT 146 PROVISIONS
TO PROTECT FOREIGN INVESTOR'S INTEREST IN THE IMMEDIATE TERM 147 SHARE
SUBSCRIPTION AGREEMENT 147 FIE ESTABLISHMENT DOCUMENTATION 147 EQUITY
JOINT VENTURE DOCUMENTATION 147 JOINT VENTURE CONTRACT 147 REGISTERED
CAPITAL AND TOTAL INVESTMENT AMOUNT 149 INVESTMENT IN KIND 149
OBLIGATIONS OF THE JOINT VENTURE PARTIES TO THE EJV. 150 BOARD OF
DIRECTORS 151 DISTRIBUTION OF PROFITS 15 2 TERMINATION EVENTS 153
ARTICLES OF ASSOCIATION 153 WHOLLY FOREIGN-OWNED ENTERPRISE
DOCUMENTATION 153 COOPERATION JOINT VENTURE DOCUMENTATION 154 OTHER
DOCUMENTS 155 NEGOTIATION 156 FINANCIAL AND LEGAL DUE DILIGENCE AND
CORPORATE INVESTIGATIONS 156 BUSINESS AND FINANCIAL MODELLING 157
PRE-NEGOTIATION STRATEGISING 157 DRAFTING AND PREPARING THE PRELIMINARY
DRAFTS OF THE DOCUMENTATION FOR NEGOTIATION 157 AT THE NEGOTIATION TABLE
158 COMPLETION 160 REGISTRATION PROCEDURES 160 CAPITAL
CONTRIBUTION/COOPERATION CONDITIONS AND VERIFICATION 161 FOREIGN
INVESTMENT BELOW 25 PERCENT 161 EXIT STRATEGIES 162 DISSOLUTION AND
LIQUIDATION OF FIES 162 LIQUIDATION PROCEDURES 162 ASSIGNMENT OF EQUITY
INTERESTS 163 INITIAL PUBLIC OFFERINGS * DOMESTICALLY AND
INTERNATIONALLY 164 RECOVERY OF INVESTMENT IN ADVANCE DURING THE CJV'S
TERM OF OPERATIONS 164 TABLE OF CONTENTS XXI CHAPTER 8 EMPLOYMENT ISSUES
IN MERGER AND ACQUISITION TRANSACTIONS INTRODUCTION 165 REVIEW OF LABOUR
MANAGEMENT ISSUES FOR FOREIGN INVESTORS IN CHINA 166 ACQUISITION OF
CHINESE DOMESTIC ENTERPRISES 166 WAGES, INSURANCE AND WELFARE EXPENSES
168 INJURY OR DISABILITY CAUSED WHILE ON DUTY 169 ACQUISITION OF
STATE-OWNED ENTERPRISES 170 OBLIGATIONS TO RETAIN EXISTING EMPLOYEES 170
VARIATIONS IN LOCAL POLICIES 172 DISPUTE RESOLUTION/ARBITRATION ON
LABOUR ISSUES 173 EXPATRIATES 173 CHAPTER 9 TAX IMPLICATIONS OF MERGERS
AND ACQUISITIONS IN THE PRC INTRODUCTION 177 OVERVIEW OF THE SYSTEM OF
TAXES IN CHINA 178 TAX SYSTEM 178 CONSIDERATION OF THE RELEVANT TAXES
179 INCOME TAX 179 FOREIGN ENTERPRISE INCOME TAX 179 LOCAL ENTERPRISE
INCOME TAX 180 STAMP TAX/DUTY 181 VALUE-ADDED TAX 183 CONTRACT
PROCESSING ARRANGEMENT 185 SMALL-SCALE VAT TAXPAYERS 186 LAND
VALUE-ADDED TAX 186 BUSINESS TAX 188 DEED TAX 190 CUSTOMS DUTY AND
IMPORT VALUE-ADDED TAX 192 TRANSACTIONAL ANALYSIS 192 EQUITY ACQUISITION
193 ASSET ACQUISITION 194 MERGERS 195 TAX TREATIES 197 PREFERENTIAL TAX
TREATMENT 200 PRODUCTION ENTERPRISES 201 EXPORT-ORIENTED ENTERPRISES 202
XXII MERGERS AND ACQUISITIONS IN CHINA TECHNOLOGICALLY ADVANCED
ENTERPRISES 202 TAX REFUND ON REINVESTMENT 202 TECHNOLOGY DEVELOPMENT
202 DUTY FREE IMPORT OF EQUIPMENT 202 DOMESTIC PURCHASE OF EQUIPMENT 203
FREE TRADE ZONES AND LOGISTICS PARKS 203 OLD INDUSTRIAL BASE IN
NORTHEASTERN CHINA 203 CHAPTER 10 EXCHANGE CONTROL BRIEF HISTORY 205 THE
CURRENT REGIME 206 CAPITAL ACCOUNT AND CURRENT ACCOUNT DISTINCTION 207
SUPERVISION AND ADMINISTRATION BY SAFE 207 TIGHTENING CONTROLS DURING
THE FINANCIAL CRISIS 208 GENERAL SUMMARY OF RESTRICTIONS 208 CERTAIN
ISSUES FOR CONSIDERATION 214 RECENT DEVELOPMENTS 214 SAFE CIRCULARS OF
JANUARY AND APRIL 2005 215 SAFE CIRCULAR OF 21 OCTOBER 2005 217 NEW
REGULATION REGIME ESTABLISHED BY SAFE OCTOBER CIRCULAR 218 REMITTANCE OF
FUNDS 220 BUSINESS AS USUAL? 220 CONCLUSION 221 CHAPTER 11 INTELLECTUAL
PROPERTY INTERNATIONAL TREATIES 223 TRADEMARKS 226 REGISTRATION 228
APPLICATION 228 ASSIGNMENTS AND LICENCES 229 TERM OF PROTECTION 230
COPYRIGHT 230 TERM OF PROTECTION 234 ASSIGNMENT 234 PATENTS 234 GRANT
236 TERM OF PROTECTION 237 COMPULSORY LICENSING, ASSIGNMENTS, LICENCES
237 REGULATIONS ON THE PROTECTION OF LAYOUT-DESIGNS OF INTEGRATED
CIRCUITS 239 REGISTRATION 239 TERM OF PROTECTION 240 COMPULSORY
LICENSING, ASSIGNMENT 240 TABLE OF CONTENTS XXIII TECHNOLOGY
TRANSFER/TRADE SECRETS 240 TRADE SECRETS 241 INTELLECTUAL PROPERTY
PROTECTION 242 TRADEMARK INFRINGEMENTS 243 REMEDIES 244 CRIMINAL
LIABILITIES 244 COPYRIGHT INFRINGEMENTS 244 REMEDIES 244 CRIMINAL
LIABILITIES 245 FILING COMPLAINTS WITH ADMINISTRATIVE AUTHORITIES
AGAINST INFRINGEMENT 246 PATENT INFRINGEMENTS 247 REMEDIES 247 CRIMINAL
LIABILITY 247 REGISTERED LAYOUT-DESIGN INFRINGEMENTS 247 REMEDIES 248
TRADE SECRET INFRINGEMENTS 248 REMEDIES 24 8 CUSTOMS PROTECTION 248
RECENT REPORTS 249 DUE DILIGENCE ASPECTS 250 IDENTIFY INTELLECTUAL
PROPERTY ASSETS TO BE ACQUIRED 250 IDENTIFY RISKS 252 INFRINGEMENT 252
TERRITORY COVERED BY INTELLECTUAL PROPERTY RIGHTS PROTECTION 252
STRUCTURE OF THE TRANSACTION 252 IDENTIFY POST-COMPLETION MATTERS 253
TARGET COMPANY RETAINING INTELLECTUAL PROPERTY 253 CHAPTER 12
POST-ACQUISITION ISSUES INTRODUCTION 255 REGISTRATION REQUIREMENTS FOR
NEW BUSINESS LICENCE FOR NEW FIE OR FOR CONVERSION INTO AN FIE 258
INTERIM PROVISIONS FOR MERGERS AND ACQUISITIONS OF DOMESTIC ENTERPRISE
BY FOREIGN INVESTORS 259 ACQUISITION OF EQUITY 259 INCREASE IN
REGISTERED CAPITAL 259 ACQUISITION OF ASSETS 260 WHERE FOREIGN
INVESTMENT CONTRIBUTION IS LESS THAN 25% OF NEW FIE'S REGISTERED CAPITAL
260 APPLICATION FOR ORGANISATIONAL INSTITUTION CODE CERTIFICATE 260
APPLICATION FOR RELEVANT TAX REGISTRATION XXIV MERGERS AND ACQUISITIONS
IN CHINA CERTIFICATES 261 APPLICATION FOR FOREIGN EXCHANGE REGISTRATION
CERTIFICATE 263 BANK ACCOUNTS FOR CAPITAL INJECTION AND PROCEDURE FOR
REMITTANCE OF FOREIGN EXCHANGE 263 CAPITAL AND ASSET VERIFICATION 264
ANNUAL FILINGS AND NOTIFICATIONS 265 OTHER POST-ACQUISITION ISSUES 266
LAND ADMINISTRATION 266 CUSTOMS ADMINISTRATION 266 ENVIRONMENTAL
PROTECTION REGULATIONS 267 LABOUR MANAGEMENT REGULATIONS 267 INSURANCE
268 CONCLUSION 268 CHAPTER 13 MERGERS AND ACQUISITIONS OF LISTED
COMPANIES INTRODUCTION 271 SHARES ISSUED BY LISTED COMPANIES 271
NON-TRADABLE SHARES 274 METHODS OF ACQUISITION 275 ACQUISITION BY
AGREEMENT 275 ACQUISITION BY ON-MARKET PURCHASES 275 ACQUISITION BY
TAKE-OVER OFF ER 275 LEGAL FRAMEWORK 276 ACQUISITION OF NON-TRADED
STATE-OWNED AND LEGAL PERSON SHARES 277 CSRC TAKE-OVER RULES 278
ACQUISITION BY AGREEMENT 279 ACQUISITION BY TAKE-OVER OFFER 280
DISCLOSURE 283 DEFENCE MECHANISMS 284 MANAGEMENT BUY-OUT 284 DISCLOSURE
REQUIREMENTS 285 INSIDER TRADING 286 APPENDIX - SAMPLE DISCLOSURE FORMAT
287 APPENDIX 288 CHAPTER 14 MERGERS AND ACQUISITIONS OF STATE-OWNED
ENTERPRISES INTRODUCTION AND BACKGROUND 291 TABLE OF CONTENTS XXV PRC
LEGAL REGIME IN RELATION TO MERGERS AND ACQUISITIONS INVOLVING SOES 293
POLICIES AND REGULATIONS IN RELATION TO MERGERS AND ACQUISITIONS OF
LISTED SOES BY FOREIGN INVESTORS 294 REGULATIONS IN RELATION TO TRANSFER
OF STATE-OWNED ASSETS 296 MERGERS AND ACQUISITIONS INVOLVING SOES 297
MERGERS AND ACQUISITIONS INVOLVING AN UNLISTED COMPANY 297 MERGERS AND
ACQUISITIONS INVOLVING A LISTED COMPANY 297 MAJOR CONCERNS INVOLVING M&A
WITH SOES 29 9 LONG-TERM PLAN 299 SELECTION AND SCREENING 299
RESTRUCTURING OF THE SOE'S CORE BUSINESS 299 QUALIFICATIONS OF THE
FOREIGN INVESTOR 300 VALUATION OF STATE-OWNED ASSETS 300 APPROVAL
PROCESS 301 CONSIDERATION AND PAYMENT SCHEDULE 303 WORKFORCE AND
MANAGEMENT REDUNDANCY 305 BEING PREPARED 306 DUE DILIGENCE 307 FACTORS
TO CONSIDER 308 UNDERSTANDING THE TARGET SOE 308 OPERATIONS OF THE SOE
309 MAIN ASSETS 309 EMPLOYEE INFORMATION 309 INVESTMENTS OF THE TARGET
SOE 309 EXISTING MATERIAL CONTRACTS 309 TAX STATUS 310 ENVIRONMENTAL
CONTROL ISSUES 310 OUTSTANDING LITIGATION, ARBITRATION OR ADMINISTRATIVE
PENALTIES 310 PROPER LEGAL DOCUMENTATION 310 WARRANTIES AND
REPRESENTATIONS 310 UNDERTAKINGS 311 CONDITIONS PRECEDENT 311 EXIT
MECHANISM 312 FLEXIBILITY AND PATIENCE 312 CHAPTER 15 CIVIL LITIGATION
INTRODUCTION 313 THE CHINESE SYSTEM OF LAW 313 CIVIL LAW SYSTEM 314 XXVI
MERGERS AND ACQUISITIONS IN CHINA CIVIL PROCEDURE LAW 314 STRUCTURE OF
COURTS IN CHINA 314 THE BASIC PEOPLE'S COURTS 315 INTERMEDIATE PEOPLE'S
COURTS 315 HIGHER PEOPLE'S COURTS 315 SUPREME PEOPLE'S COURT 316 SPECIAL
COURTS 316 PEOPLE'S PROCURATORATES 317 COURT PROCESSES 317 PERCEPTION OF
THE JUDICIAL SYSTEM 318 JURISDICTION 319 TORTIOUS ACTION 320
JURISDICTION CLAUSES IN M&A TRANSACTIONS 320 EXCLUSIVE JURISDICTION IN
THE CHINESE COURTS 321 DOCTRINE OF FORUM NON-CONVENIENS 322 ARBITRATION
CLAUSES 322 LIMITATION OF ACTIONS IN CHINA 322 LITIGATION PROCEDURES 323
DEFENCE 324 INVESTIGATION BY THE COURTS 324 TRIAL 324 FIRST STAGE OF
TRIAL * COURT INVESTIGATION 324 SECOND STAGE OF TRIAL * COURT DEBATE 325
THIRD STAGE * MEDIATION OR JUDGMENT 325 APPEALS 325 ENFORCEMENT OF
JUDGMENT OR WRITTEN ORDER 326 BANKRUPTCY PROCEDURE 327 ACCEPTANCE OF
BANKRUPTCY PETITION 327 PROOF OF CLAIMS 328 CREDITORS'MEETING 328
SETTLEMENT AGREEMENT 328 BANKRUPTCY OF DEBTOR 328 DISTRIBUTION OF
BANKRUPT'S ASSETS 329 PRE-ACTION PROPERTY PRESERVATION AND ADVANCE
EXECUTION 329 RECOGNITION OF FOREIGN JUDGMENTS 330 INTERNATIONAL
TREATIES * THE HAGUE CONVENTION 331 CONCLUSION 332 CHAPTER 16
ARBITRATION AND ALTERNATIVE DISPUTE RESOLUTION INTRODUCTION 333
ARBITRATION VERSUS LITIGATION 334 ALTERNATIVE DISPUTE RESOLUTION OTHER
TABLE OF CONTENTS XXVII THAN ARBITRATION 336 NEGOTIATIONS 336 MEDIATION
OR CONCILIATION 337 ARBITRATION 339 DOMESTIC ARBITRATION IN CHINA 340
INTERNATIONAL ARBITRATION IN CHINA 340 INTERNATIONAL ARBITRATION OUTSIDE
CHINA 342 COURT ASSISTANCE IN ARBITRATION PROCEEDINGS 343 JURISDICTION
OF ARBITRATION TRIBUNAL 344 INTERIM MEASURES 344 VALID DISPUTE
RESOLUTION CLAUSE 345 ENFORCEMENT OF ARBITRAL AWARDS 347 OVERSEAS
ARBITRATION AWARDS IN CHINA 349 CHINESE ARBITRATION AWARDS OVERSEAS 350
CONCLUSION 351 |
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| geographic_facet | China |
| id | DE-604.BV022944317 |
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| index_date | 2024-07-02T18:59:14Z |
| indexdate | 2024-07-09T21:08:15Z |
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| institution_GND | (DE-588)6514284-6 |
| isbn | 9789810585167 |
| language | English |
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| spelling | Mergers and acquisitions in China Stamford Law Corporation 2. ed. Singapore Sweet & Maxwell Asia 2007 LII, 364 S. txt rdacontent n rdamedia nc rdacarrier Recht Consolidation and merger of corporations Law and legislation China Mergers and Acquisitions (DE-588)4205916-1 gnd rswk-swf China (DE-588)4009937-4 gnd rswk-swf China (DE-588)4009937-4 g Mergers and Acquisitions (DE-588)4205916-1 s DE-604 Stamford Law Corporation Sonstige (DE-588)6514284-6 oth SWB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016148915&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Mergers and acquisitions in China Recht Consolidation and merger of corporations Law and legislation China Mergers and Acquisitions (DE-588)4205916-1 gnd |
| subject_GND | (DE-588)4205916-1 (DE-588)4009937-4 |
| title | Mergers and acquisitions in China |
| title_auth | Mergers and acquisitions in China |
| title_exact_search | Mergers and acquisitions in China |
| title_exact_search_txtP | Mergers and acquisitions in China |
| title_full | Mergers and acquisitions in China Stamford Law Corporation |
| title_fullStr | Mergers and acquisitions in China Stamford Law Corporation |
| title_full_unstemmed | Mergers and acquisitions in China Stamford Law Corporation |
| title_short | Mergers and acquisitions in China |
| title_sort | mergers and acquisitions in china |
| topic | Recht Consolidation and merger of corporations Law and legislation China Mergers and Acquisitions (DE-588)4205916-1 gnd |
| topic_facet | Recht Consolidation and merger of corporations Law and legislation China Mergers and Acquisitions China |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016148915&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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