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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…
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 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…
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, …
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…
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…
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…
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…
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…
Understanding China’s foreign exchange rules is never an easy job, esp in an era when China is aggressively reforming its financial systems. A new rule can well be revised in a few months.
On June 9, 2016, China SAFE (State Administration of Foreign Exchange) issued its new Decree No. 16, entitled “关于改革和规范资本项目结汇管理政策的通知” (in English, …
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 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
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。…
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）
津高法〔2014〕251号
为正确审理保理合同纠纷案件，依法保护当事人合法权益，规范保理业务经营行为，促进保理业健康发展，服务和保障金融改革创新，防范应收账款融资风险，2014年10月27日高院召开2014年第27次审判委员会会议，专题研究关于保理合同纠纷案件审理中的若干问题。经过认真讨论，与会委员对目前审理保理合同纠纷案件的一些问题达成一致意见。现纪要如下：
一、会议纪要的形成背景
保理是以应收账款转让为前提的综合性金融服务。近年来，随着购货商赊销付款逐渐成为主要结算方式，供货商对应收账款的管理和融资需求推动了国内贸易中保理业务的产生和发展。2006年5月，国务院发布《关于推进天津滨海新区开发开放有关问题的意见》（国发〔2006〕20号），鼓励天津滨海新区在金融企业、金融业务、金融市场和金融开放等方面先行先试。2009年10月，经国务院同意，国家发改委批复原则上同意商业保理企业在天津注册。2012年6月，商务部下发《关于商业保理试点有关工作的通知》，同年10月又下发《关于商业保理试点实施方案的复函》，同意在天津滨海新区、上海浦东新区开展商业保理试点，设立商业保理公司，为企业提供贸易融资、销售分户账管理、客户资信调查与评估、应收账款管理与催收、信用风险担保等服务。2012年12月，天津市发布《天津市商业保理业试点管理办法》，对商业保理公司的注册资金、从业人员及风险资本等各个方面做出了要求。天津市作为商务部确定的第一批商业保理试点城市，保理业务得到快速发展。与此同时，各类保理纠纷不断出现，诉讼至法院的保理合同纠纷案件数量呈不断上升趋势。由于保理合同属于无名合同，有关保理问题的法律、行政法规和司法解释明显欠缺，审判实践中存在许多亟待研究和解决的难题。例如：案由、管辖和当事人的诉讼地位问题；保理法律关系认定问题；保理合同效力问题；应收账款质押和转让的冲突问题等。…
News on Sohu has it that Shanghai local industry and commerce bureau (the agency in China in charge of company registry) has called a halt to setup of commercial factoring firms, following the suits of Beijing and Shenzhen, the other two major first-tiered cities in China.
Commercial factoring is indeed something newly imported from abroad into China economy.…
As a part of the China’s planned financial reforms on the so called capital account, China has not expressly allowed its citizens to purchase overseas properties, despite some attempts in the past by some local government, which were called off by the central government.
October 30, China Central Bank together with some other central ministries issued…
China’s role in the global economy has rapidly changed. As Chinese FDI outflows are rapidly closing the gap with inflows, the country is expected to be the most important net investor in the world in the coming two years (Unctad, 2014).
The increasing importance of state-owned enterprises (国有企业，国营企业) in …
The State Council passed a comprehensive plan to set up a free trade experiment zone in Shanghai on August 26, 2013 [see our analysis of the New Rules for Commercial Factoring in Shanghai Free Trade Zone] . Few months later, how to evaluate the real impact of Shanghai pilot FTZ in China ?
The Shanghai FTZ is made up of three extant bonded areas – Yangshan, Waigaoqiao…
I am referring to foreign exchange accounts not RMB account (foreigners are allowed to open RMB accounts in China just as Chinese citizens).
Currently, there are two options for foreign entities or legal persons (body corporates) when they wish to open a foreign exchange account in China.
1. Offshore Account
Back in 1998, China has started its offshore banking…
Many of us know that there is underground banking in Chinese grey financial market, allowing money flowing across Chinese border without undergoing the cumbersome and lengthy procedures and formalities laid down by China State Administration of Foreign Exchange.
The case offers a quite clear picture of how one of the these underground banking systems works. …
