China Banking & Financing

legal information about China financial world in particular, banking, trust and wealth management, foreign exchange issues of both capital and current accounts in relation to foreign investment and foreigner expat life

Experience Sharing: Headache and Pain of Inheriting Bank Deposits in China

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We have roughly wrapped up all the work for a client in relation to her inheritance of bank deposits in China left by her late husband.

Inheritance of Bank Deposits in China

We have written quite a few posts talking about inheritance of bank deposits in China, and this newly completed matter adds more juice to our experience in helping foreign clients inheriting…

Foreign Grantor Trust: A Pre-immigration Tax Planning for Assets in China

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As a cross-border family lawyer in China, there are always clients from USA or China dealing with estates inheritance or asset transfer to United States. Very often, American tax issues are one of the core concerns. Thus, I have endeavored to take the trouble to understand American complex federal tax systems esp in regard of estate planning issues.

American

Can a Foreigner Take Life Insurance Proceeds Out of China?

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Insurances are popular in China. People in China rural villages are buying various insurance products, mainly, health insurance, and personal accident insurance. In urban population, many people buy life insurances (with dividend payout or investment components), and annuity insurance as well.

Problem of China Life Insurance with Foreign Beneficiaries

Sell Life Insurances to Chinese Customers?

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Insurances are big and important things in our lives. For family lawyers and lawyers who do estate planning, insurances, in particular health insurances and life insurances are powerful and indispensable instruments, though I admit that I have not given enough attention to insurances laws in the past.

China Insurance Law

With more Chinese people getting…

Borrow or Lend Money in China: Rules Governing Private Lending

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Estimated reading time: 5 minutes

Recently, one of our clients is involved in a thorny private lending dispute in China. In providing legal advice to the client, we searched the latest regulations and related cases from which we obtained some valuable information to share. Here we summarized the key points which should be paid attention to in private lending…

Inheritance by Foreigners of Personal Properties in China: Bank Deposits (II)

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We have written a lot of posts related to inheritance of real estate (real properties) in China. Frequently, we get inquiries about and deal with inheritance of personal properties such as stock/equity interests in a company or bank deposits/cash in China.

It is worth a separate post because the rules regarding inheritance of personal properties are quite…

China Foreign Investment Law and Cross-Border Inheritance and Estate Planning

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China has enacted its long-awaited Foreign Investment Law this March but will only come into effect as of January 1, 2020. So far this law is warmly welcomed and hailed at large by the international communities.


Well, there are a lot of comments on the Law and its impact and implications on existing and future foreign investment in China. But hardly is there any…

The Ways of Moving Money Out of China by Individuals

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Image result for USD 50,000 per year China
USD 50,000 per year?

This is a hot topic in today’s China: how to move money in China to a foreign country. With the backdrop of the trade-war and tech-war between China and USA simmering with no assuring sign of cooling down, China economy has been hurt somehow, and 2019 is a tough year for China and in the meantime, United States is still looking buoyant, …

Loans made between enterprises in China still invalid?

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For many years, loaning activities were tightly controlled and regulated, only duly licensed banks are allowed to lend money to the public, and loans made between domestic enterprises are often held as invalid, and consequently, the borrowed shall return the loan principal to the lender and interests are seized by the state. With this rule in place, borrowings…

Security provided to foreign creditors by Chinese citizens

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Here is the situation presented before me: a Chinese citizen who does business in Singapore (or USA) wishes to borrow money in USD from an American citizen, and the American lender requires security or collateral to guarantee that the borrower will be able to pay off the debts (principal and interest). Fortunately, the Chinese debtor has an apartment in Shanghai…

Foreign Corporate Owners of China Properties: How to Sell Property and Take Money Out of China

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Image result for corporate property owner in china

There has been quite a few inquiries in the past from foreign companies that own properties in China (either residential or commercial) on how they can sell their China properties and then convert the sale proceeds into foreign hard currencies such as USD or Euros and take the same out of China.

I wrote a post regarding foreign corporate owners intending to sell…

See what China says about its capital outflow restrictions

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News started telling that China is tightening its foreign exchange rules to restrict money outflow from the beginning of this year or late last year, and recently, we saw an explosion of internet discourse on this topic. Many panic.

Right, China is worried about its capital outflow which will surely have adverse impact on China’s economy which is struggling…

Cross-border Financing: offshore loan against onshore security

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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…

The Skeleton Regime of China Administration of Foreign Debts

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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…

China tightened control over money outflow via personal bank accounts

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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…

天津市高级人民法院关于审理保理合同纠纷案件若干问题的审判委员会纪要(二)及律师解读

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天津市高级人民法院关于审理保理合同纠纷案件若干问题的审判委员会纪要(二)及律师解读

 

为了妥善审理保理合同纠纷案件,进一步解决保理合同纠纷审判实践中遇到的疑难问题,依法保护当事人合法权益,规范保理经营行为,促进保理业健康发展,为天津市金融创新提供司法保障和支持,2015年7月27日我院召开2015年第22次审判委员会会议,专题研究了保理合同纠纷案件审理中的若干问题。经过认真讨论,与会委员对于依法解决审判实践中的疑难问题达成一致意见。现纪要如下:

一、会议纪要的形成背景

2014年10月27日,我院2014年第27次审判委员会专题研究了保理合同纠纷案件审理中的问题,形成了《天津市高级人民法院关于审理保理合同纠纷案件若干问题的审判委员会纪要(一)》,较好地解决了保理法律关系的认定、保理合同的效力、案由的确定、管辖的确定、当事人的诉讼地位、权利冲突的解决、登记公示和查询的效力等问题。随着保理合同纠纷数量的不断增长,审判实践中仍然存在许多疑难问题亟待解决。例如:债权转让通知的形式与效力、债务人对应收账款进行确认的效力、基础合同中债权禁止转让的约定对保理商的影响、基础合同变更对保理合同的影响、债务人的抗辩权和抵销权、保理专户中保理回款的性质认定、保理商的权利救济、破产抵销权的行使等。…

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