Restructuring

   

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- Investment Criteria


Investment Vehicle Structuring


 
In every transaction, we utilize our local expertise. .

Our legal, tax and financial professionals will consult with the company and devise an optimal structure to reduce client risk to ensure a smooth transition into the capital markets.
This is a constantly evolving environment requiring an understanding and deep analysis of the latest legal changes in order to devise and implement a successful structure.

Investment Vehicle Structuring (Off and On-Shore)

Our legal professionals have the expertise to ensure our clients are in compliance with the latest international laws and guidelines, including:-

 

1) SAFE Circular 75—SAFE Circular 75 was released on November 1, 2005, replacing earlier Circular 11 (Jan. 24, 2005) and Circular 29 (April 21, 2005). The earlier Circulars made it very difficult to implement offshore structures to attract foreign investors to Chinese operations. Circular 75 liberalized the rules applying to these situations, essentially replacing the earlier restrictive rules with a registration requirement.


2) 2006 M&A Rules—in September 2006, MOFCOM,1 SAFE,2 and four other agencies promulgated a comprehensive new set of regulations dealing with all foreign M&A activity, as well as with restructurings leading to offshore offerings and other international financings.


3) SAFE Implementation Notice 106—on May 29, 2007, internal SAFE implementation guidelines were issued, which were later divulged and became publicly available. Implementing guidelines are common and often tend to smooth the rough edges of earlier regulations. In this case, however, the implementing guidelines appear to severely constrain Chinese-owned companies from accessing international capital.

 

 
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