Conference: “Recent legal developments in China”, 14 December 2011 at 3.30 p.m., Jones Day, Brussels
Nov-28-2011 By : agxadmin
The Flanders-China Chamber of Commerce (FCCC) and Jones Day are organizing a conference on “Recent legal developments in China”. Highly experienced attorneys from Jones Day’s China offices will share their insights. The conference will take place at 3.30 p.m. on Wednesday, 14 December 2011 at Jones Day’s Brussels office, Brand Whitlocklaan 165, 1200 Brussels. The programme is as follows:
3.30 p.m. Registration
3.45 p.m. Welcome and Introduction by Mrs Gwenn Sonck, Executive Director, Flanders-China Chamber of Commerce and Serge Clerckx, Partner, Jones Day Brussels, Responsible China Desk
3.55 p.m.
“Is IP Enforcement a Myth in China?” by Horace Lam, Partner, Jones Day Beijing
“Major Legal Issues in Evaluating M&A Targets in China” by Ian Liao, Partner, Jones Day Beijing
“Dealing with MOFCOM’s Merger Review Procedure” by Sébastien Evrard, Partner, Jones Day Beijing
5.15 p.m. Questions and Answers
5.45 p.m. Cocktail and networking
If you wish to attend the conference, please register online before 9 December 2011.
The participation fee for member of the FCCC is €55. The fee for non-members is €85.
China Forum, 21 November 2011, Ghent
By : agxadmin
On the occasion of its 5th anniversary, the Ghent University China Platform organized the China Forum. Since five years the China Platform has further developed the relationships between Ghent University and China, and has been promoting and facilitating institutional cooperation.
The China Platform is a cooperation between the University of Ghent, the Province of East Flanders, the city of Ghent and the Flanders-China Chamber of Commerce (FCCC). The China Platform aims to be an academic center for information exchange. One of its most important tasks is to actively establish more cooperation in education and research.
During the China Forum Mr Karel De Gucht, European Commissioner for Trade, explained how to make the EU-China relationship work. Mr Liao Liqiang, Ambassador of the People’s Republic of China to Belgium gave us a view on the further development of the China-Belgium relationship.
Rector Prof dr Paul Van Cauwenberge explained the internationalization strategy of the University of Ghent and Mr Marc De Buck, Vice Governor of the Province of East Flanders gave us a clear view of what the policy of East Flanders on China is.
The China Forum was ended by an interesting panel discussion moderated by Professor dr Martin Valcke of the Department of Educational Studies. The panel discussion was joined by Mr Liao Liqiang, Ambassador of the People’s Republic of China to Belgium, Mr Bertrand de Crombrugghe, Ambassador and Director Asia and Oceania of the Belgium Ministry of Foreign Affairs, Prof dr Bart Dessein of the Department of Languages and Cultures of South and East Asia, Mr Rene De Keyzer, Manager External R&D of Agfa Graphics and Founding Member of the Flanders-China Chamber of Commerce and Mr Zhao Ningning, Researcher at the Department of Educational Studies.
HNA Group calls for lifting of U.S. visa restrictions
By : agxadmin
HNA Group Co, parent company of Hainan Airlines, is urging the United States to lift restrictions on visas for Chinese visitors. “The United States government should give more visas to Chinese visitors and more support for direct flights from China to the U.S.,” said Chen Feng, Board Chairman of Hainan-based HNA Group. “Limited visas mean a limited number of potential travelers, and that increases the risk of starting a new direct flight,” he said. Hainan Airlines, China’s fourth-largest airline by fleet size, buys aircraft from Boeing in the U.S. every year. However, Chen said, even the company’s purchasing agents are denied U.S. visas. “It’s ridiculous.” Chinese applicants might have to wait for more than a month for the personal interview they need to obtain their U.S. visa. Some applicants are repeatedly denied a visa without being given a reason. In October 2009, Hainan Airlines obtained approval from the U.S. Department of Transportation to begin regular non-stop flights from Beijing to Honolulu, but the airline never launched the service, Chen said, because of the visa problem.
Unauthorized exchanges to be shut down
By : agxadmin
The Chinese government has launched a crackdown on hundreds of unregulated electronic equity and futures exchanges that have sprung up in recent years to trade everything from fine art and commodities to insurance products. The exchanges had been approved by local governments hoping to foster financial markets in their jurisdictions. A task force will check the exchanges and those engaged in “unauthorized and illegal” activities would be shut down. Apart from the country’s two main stock exchanges, three commodities exchanges and one financial futures exchange, no other exchanges are allowed. Even the use of the name “exchange” in Chinese will be strictly regulated from now on and must be approved by provincial-level authorities following consultations with the China Securities Regulatory Commission (CSRC). “Serious speculation and price manipulation has occurred” at some exchanges and cases of embezzlement and fraud have also emerged, the government said. Chinese analysts estimate there are over 300 exchanges, up from just a handful five years ago. In the first 10 months of this year, 58 new exchanges were established, according to reports. Beijing-based Hantang Artworks Exchange, where investors could trade shares in precious artworks owned by the exchange, announced it was halting all trading immediately following the government’s orders, the Financial Times reports.
China doubles currency swap agreement with Hong Kong
By : agxadmin
China has doubled its currency swap arrangement with Hong Kong to CNY400 billion. It gives Hong Kong greater access to the People’s Bank of China’s yuan pool and will encourage more businesses to use the yuan as an invoicing currency. HKMA Chief Executive Norman Chan said the new agreement “is crucial in helping us to provide liquidity, when necessary, to maintain the stability of the offshore renminbi market in Hong Kong”. More than 9% of China’s total trade has been settled in yuan this year, up from just 0.7% a year ago. Of all China’s yuan-based trade in the first half of this year, 84% was carried out by Hong Kong banks, up from 73% over the whole of 2010. The Hong Kong government has listed developing offshore yuan as a strategic direction for the city’s future economy. The explosion in yuan trade has boosted yuan deposits in Hong Kong to CNY622 billion as of the end of September, totaling more than 10% of total deposits, up from around 1% in January last year, HKMA data shows. “The importance of the yuan business to Hong Kong has been limited by the currency’s convertibility,” said Zhao Xijun, Economist at Renmin University in Beijing. “The expanded amount of yuan available in Hong Kong will make it easier to get hold of and use the currency.”
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