Publication
Blue Bonds: Making a splash in the Capital Markets
In 2018, the Republic of Seychelles launched the first-ever “blue bond”, with the support of the World Bank Group and the Global Environment Facility.
NDRC's New Mid-to-Long Term Foreign Debt Approval Registration Regime
Global | Publication | January 2023
Following a one-month consultation on the draft Administrative Measures for Approval Registration of Mid-to-Long Term Foreign Debts of Enterprises in September 2022 (see link to our earlier legal update), on 10 January 2023 the National Development and Reform Commission of the PRC (NDRC) has promulgated the Administrative Measures for the Approval Registration of Mid-to-Long Term Foreign Debt of Enterprises《企业中长期外债审核登记管理办法》（国家发展和改革委员会令第56号） (NDRC Order No. 56).
NDRC Order No. 56 establishes the foreign debt approval registration system, which, with effect from 10 February 2023, will replace the foreign debt filing registration system under NDRC Circular No. 20441, with NDRC Circular No. 2044 being repealed on the same day.
In this legal briefing, we will focus on the key changes to the foreign debt filing registration regime under NDRC Circular No. 2044 (as supplemented by NDRC Circular No. 2044 Practice Manual2) and highlight the relevant aspects of NDRC Order No. 56 where further guidance from NDRC (in form of new practice manual for NDRC Order No. 56 or other forms of Q&A) would be welcomed to facilitate the administration of the new foreign debt approval registration regime.
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Marine Money Week New York 2025
We are delighted to be participating in Marine Money Week New York 2025. As one of the landmark events for the global shipping finance community, and with the global shipping and maritime industry at such a pivotal juncture, we look forward to catching up with clients and contacts to continue discussions around navigating the current challenges and opportunities.
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The parallel imposition requirement in exclusive distribution systems: key takeaways from the CJEU’s ruling in Beevers Kaas
On 8 May 2025, the Court of Justice of the European Union (the CJEU) delivered its ruling in case C-581/23 (the Ruling), providing guidance on one of the conditions for an exclusive distribution agreement to benefit from the block exemption under Article 4(b)(i) of the 2010 Vertical Block Exemption Regulation (the VBER)1, notably the so-called ‘parallel imposition requirement’.
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