New curbing measures send chill in Shanghai property market

Just the other day, on the night of November 28, Shanghai government has stepped up a few new measures to cool down the property market that has despised the previous two rounds of curbing measures in this year.

Basically, the new notice issued by Shanghai government says that

  1. families that purchase property in Shanghai for the first time (meaning having no other

Cross-border Financing: offshore loan against onshore security

With more and more Chinese companies going overseas for acquisition of foreign assets or equities, China State Foreign Exchange Administration (the "SAFE") has gone in line with the tide by facilitating cross-border financing whereby it has reorganized its rules on cross-border security or guarantee. In May, 2014, SAFE issued its restated regulation …

Mortgage loans for Chinese buyers of foreign properties

You all know that the Chinese people are buying up your land, esp in the USA, Canada, Australia or Singapore, unfortunately pushing up local property price, precipitating homes out of the reach of a lot more ordinary families. But sorry, I am not here to alleviate the problem but to add fuel on the fire.

Many foreign property developers have been targeting Chinese…

Property Management Services in Shanghai

Through my real estate legal practice, I have noted that quite a number of foreign clients leave their properties either to friends or relatives for care, and even some clients just simply leave their property unattended for years after purchase.

On the other hand, we do also note that many clients entrust their properties to properties to property management…

关于应收账款银行保理业务的监管提示

国际保理律师点评本则监管提示是中国证券监督管理委员会于2015年1月份发出的。通报的保理融资案件显示,在中国保理业务仍然是一个较为新鲜的融资品种。案件中的债权人转让人是一家新三板挂牌公司,按说规模应该不会太小,但对于保理融资的理解仍然存在重大的误差。对于无追索权的保理业务,简单地误以为,无论发生什么债务人不付款的情形,保理银行均无权向债权人追索。精准的理解是,无论是国内保理还是国际保理,保理商在无追索权保理业务中,其承担的风险仅仅在于债务人因自身信用问题而导致的付款不能的风险。一旦债务人就基础合同项下的任何问题提出纠纷,则认为存在一项商业风险(与债务人信用风险相对应)于此情形,保理商不会承担此类风险,将会按照约定将应收账款反转让给债权人或由债权人回购该出现商业纠纷的应收账款。

International Factoring In China Part II: assignment of receivables

YOU MAY DOWNLOAD THE PDF VERSION OF THIS POST HERE: china-factoring-law-assignment-of-account-receivables.

Assignment of receivables is the core of factoring business. An accurate and clear understanding of Chinese laws in respect of assignment of receivable is vital and paramount for engaging in factoring business in China.

As you may have noticed…

Again, be aware and vigilant about who you are trading with in China

It is not the first time I write about this topic for foreign companies trading with Chinese seller. You can check on this post “Check out who you are trading with in China“.

An American client recently complained to me about his problem with his Chinese vendor. The client has been purchasing aluminum sheets from the Chinese seller for years and they…

无权处分合同效力与善意取得-以单方处分夫妻共同财产为视角

笔者近期处理的一起离婚后财产分割案件引发了对无权处分合同效力以及善意取得制度的思考。相关法律问题着实让人为难,难怪法学家将“无权处分”称为“法学上的精灵”。

案件情况如下:夫妻婚后购买一套住宅,但仅登记在妻子名下(老公是外国人,没有购买资格)。不久,双方感情破裂,经法院判决离婚。但在离婚诉讼中,因为特殊原因,双方同意夫妻财产离婚之后再行分割。但妻子为隐匿财产,离婚后立即将房产转让给其一个朋友(但无法查证),价格远低于市场价格(可能会有百分三十左右的差价),且同时把一辆高级轿车亦转让给这位朋友。房屋的转让已经完成。…

China Family Law: spouse interests in real properties and corporate equities

As a part of family law practice, divorce cases are increasing in China esp in first-tiered cities such as Shanghai, Beijing and Shenzhen.

With the number of cross-border marriages between Chinese and foreigners, it is good for the foreigner spouse to understand the legal environment in China in case of an inevitable divorce, in particular, in terms of the …

Right and Power: a new understanding of their relationship

I have just read two articles regarding “right” which reactivate my interests on the jurisprudence issue and other related thoughts on some basic civil law issues. The two articles are “Rights” and “Legal Rights“.

Back ten years ago, when I was preparing my graduation paper for master degree, I was intrigued by the…

Bill of Lading in the perspective of China laws: a case study

In the year of 2016, a court judgement concerning Letter of Credit dispute handed down by China Supreme Court has caught immense attention from banks, freight forwarders, sea carriers and maritime lawyers.

I. Basic Facts

For a detailed account of the case facts, you can refer to another post on this blog, but unfortunately, it is in Chinese.

A China bank (CCB)…

信用证开证纠纷经典案例:中国建设银行与广东蓝粤能源发展有限公司等信用证开证纠纷案

中国建设银行股份有限公司广州荔湾支行与广东蓝粤能源发展有限公司等信用证开证纠纷案

 

[裁判摘要]

提单具有债权凭证和所有权凭证的双重属性,提单持有人是否因受领提单的交付而取得物权以及取得何种类型的物权,取决于合同的约定。本案中,开证行根据其与开证申请人之间的合同约定持有提单,结合当事人的真实意思表示以及信用证交易的特点,应认定开证行对信用证项下单据中的提单以及提单项下的货物享有质权,开证行行使提单质权的方式与行使提单项下动产质权的方式相同,即对提单项下货物折价、变卖、拍卖后所得价款享有优先受偿权。…

The Skeleton Regime of China Administration of Foreign Debts

China is still on the way to open up its capital account in terms of cross-border capital flow, in a well-calculated manner.

When looking at China's management of its foreign debts, one can easily get dizzy while navigating through tons of rules that have been issued, revised and replaced frequently over time.

This post only attempts to give you a basic idea on…

11 reasons divorce is better than staying in a bad marriage

This post is copied from huffingtonpost.com. Good points for people in failing marriages to know and consider. However, when it comes to divorce, or anything involving deep feeling and emotion, no one is as sober as a third party bystander. But, I am not saying the bystanders know the best thing for the people caught in divorce. People are just different.

For…

A frequent inheritance-related scam many foreigners succumb to

Does it, the following cited paragraph, look familiar to you in any way?

Good Day Sir

I am an American and was contacted by Citic Bank in November of 2015 some months ago as heir to a sum of money from there bank.  They have set fees for months and I have paid all but this final fee which is in route to them by transfer, but they only give me 72 hours.  They have never

China tightened control over money outflow via personal bank accounts

China has witnessed its foreign exchange reserve dwindling over the last couple of years on the backdrop of its economy slowing down and its attempt to maintain its currency value.

With that concern, China is trying to manage, if not stop, the holes from which its money is flowing out to overseas. Many foreigners have already felt the pinch and I did get a couple…

foreigners in Beijing not allowed to receive gifted real properties if not eligible for purchasing

First of all, please note that I have not been able to locate the related decree or notice issued by Beijing local government, therefore not able to verify the captioned statement.

Just recently, in advising a foreign client in inheriting estate apartment left by his late father, I came to learn from local notary office a piece of new rule that was said to take…

Notarize your will to avoid trouble for your heirs/beneficiaries thereunder

Every year I deal with quite a few inheritance cases (litigious or non-litigious) involving foreigners inheriting estate (properties, shares and bank deposits) in China.

Very often, there is a written will produced by one heir to support his or her claim over the estate. The problem is that these wills are not properly notarized, leaving a great deal of uncertainty…

Sell your China property in Beijing: your marital status matters

Maybe it is really time to sell your China properties, either in Shanghai, Beijing or Shenzhen, these first-tiered cities in China.

Despite the fact that China applies its uniform sets of laws throughout the country as a centralized political system, it is not uncommon to find out that different places may have different interpretations of the same piece…