EVENTS
Partner Li Pan Attends Symposium on Indirect Overseas Listings of Domestic Enterprises in Shenzhen
Partner Li Pan Attends Symposium on Indirect Overseas Listings of Domestic Enterprises in Shenzhen
On July 2, 2010, Zhong Lun Law Firm partner Li Pan, who advised Hong Long Holdings Limited on its red chips listing on the Hong Kong Main Board, attended upon invitation a symposium on indirect overseas listings of domestic enterprises in Shenzhen.
At the symposium, Li Pan answered questions raised by participating leaders from the legal perspective. The questions involved: applicability of the No. 10 Degree (namely, Rules on Merger and Acquisition of Domestic Enterprises by Foreign Investors promulgated in 2006 and amended in 2009) in overseas red-chip listings, understanding and application of Manual of Access Management Guidelines for Foreign Investment, main reasons behind the overseas red-chip listings of domestic enterprises, approval from domestic authorities of overseas listings in the form of VIE, attitudes of overseas securities regulatory authorities towards VIE in overseas listings, foreign debenture holders involved and possible measures to be taken by overseas securities authorities in the event of dramatic decline in performance after issuance of corporate debentures at abroad by a domestic enterprise indirectly listed in Singapore.
The symposium, organized by the State Administration of Foreign Exchange, attracted participants from the State Council General Office, State Council Legislative Affairs Office Finance Department, the State Administration of Foreign Exchange Capital Division, Ministry of Commerce Law Department and Foreign Capital Department and the International Department of the State Securities Regulatory Commission.
