Publication | April 2018
On April 17, 2018, the National Development and Reform Commission (NDRC) announced at a press conference that a new negative list for foreign investment is being formulated and is expected to be published in the first half of this year. The new negative list will lift up restrictions on foreign investment in the automobile manufacturing industry within 5 years, and in the aviation and shipbuilding manufacturing sectors before the end of this year.
This entire sector will be opened by 2022, subject to the following timetable:
The 50 per cent foreign shareholding limit will be removed:
The restriction on setting up no more than two joint ventures for producing the same type of vehicles by one foreign investor will also be removed under the same timetable.
Within 2018, the foreign shareholding restrictions for the following business will be removed:
Within 2018, the requirement for Chinese parties to control the joint ventures for designing, manufacturing and repairing ships will cease.
You should carefully consider your insurance policies to determine which of them may help to recover loss sustained. This might include the cost of cancelled travel or corporate events or any extra costs of working where staff have been told not to come into the workplace for prolonged periods.
The disruption caused by the COVID-19 virus across the supply chains of businesses in almost every industry has resulted in business’ contractual rights and obligations coming under the spotlight – specifically in terms of what can be used to excuse a party from performing their contractual obligations temporarily or, in some cases, indefinitely.
There is a regulatory framework which might provide options if you are experiencing ‘financial difficulty/financial hardship’ which, according to the Banking Code of Practice, means you are unable to repay what you owe and are experiencing difficulty meeting your repayment obligations.
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