CN
CN
Focus
Key Distinctions in U.S. and Chinese Employment Laws & Practices
The employment laws and practices in the U.S. and China exhibit significant differences across various aspects. Chinese investors, when conducting business in the U.S., frequently encounter challenges stemming from the application of Chinese employment ideas and experience to their labor and employment practices in the U.S. This newsletter aims to assist Chinese investors in understanding the below key differences in employment laws and practices between the two countries, thereby enabling them to avoid potential problems and issues.
View More
Venturing Out: Web 3.0 (I) — Hong Kong Virtual Asset Regime Overview
Web 3.0 is the latest evolution of the World Wide Web that envisages a more decentralized version of the web, underpinned by a constellation of advanced technologies and applications such as virtual assets ("VA(s)") of cryptocurrencies and non-fungible tokens ("NFT(s)"), and blockchain technology. Hong Kong has taken significant steps to establish an appropriate regulatory framework for the VA sector. Cybersecurity alongside investor protection are matters of utmost importance in Web 3.0 development. The regulation of VA trading platforms ("VATP(s)") took effect in June 2023, after an amendment to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Chapter 615 of the laws of Hong Kong) ("AMLO"). The Financial Services and the Treasury Bureau ("FSTB") consulted the public in February 2024 on legislative proposals to regulate over-the-counter ("OTC") trading of VAs. The Hong Kong Monetary Authority ("HKMA") and the FSTB also proposed a licensing and regulatory regime for fiat-referenced stablecoins ("FRS") in December 2023. This article aims to highlight the key points to note for commencing Web 3.0 VA-related businesses in Hong Kong.
View More
CSRC to Fill in Gaps in Program Trading Regulation
On April 12, 2024, the China Securities Regulatory Committee ("CSRC") released a public consultation draft of the Provisions on Program Trading Management in Securities Markets (for Trial Implementation) (《证券市场程序化交易管理规定(试行)(征求意见稿)》, the "Draft Provisions"). The consultation period will end on April 27, 2024. The Draft Provisions are the first comprehensive rules on program trading to be issued at the central financial regulator level, which intend to address a series of critical issues relating to program trading in China's securities markets.
View More
Han Kun
Send regular emails covering market and industry trends.
Subscribe