PDF《CHINA》

1 CHINA REGULATORY UPDATES May

2019 瀚一律师事务所HAN YI LAW OFFICES TABLE OF CONTENTS / 本期内容 www.

hanyilaw.com OUTBOUND INVESTMENTS / 境外投资 MOFCOM Solicits Public Comments on Updated Draft Rules Governing Report of Outbound Investments / 商务部就对外投资报告 制度细则征求公众意见

2 COMPANY LAW / 公司法 Judicial Interpretations (V) of Company Law Issued / 最高院发布《公 司法》司法解释

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2 CAPITAL MARKET / 资本市场 CSRC Updated Guidelines on Articles of Association of Listed Companies / 证监会修订《上市公司章程指引》

3 SHSE Released Guidelines for Offering and Underwriting of Stocks on Sci-Tech Innovation Board / 上交所发布科创板股票发行与承销业务指 引3INTELLECTUAL PROPERTY RIGHTS / 知识产权 Trademark Law and Anti-Unfair Competition Law Amended to Enhance Protection of Intellectual Property Rights / 《商标法》和《反 不正当竞争法》同时修订,加强对知识产权的保护

4 2 MOFCOM Solicits Public Comments on Updated Draft Rules Governing Report of Outbound Investments 商务部就对外投资报告制度细则征求公众意见 2019年4月8日,商务部发布了《对外投资备案(核准)报告实施细则》(征求意见稿)( 《征求意见 稿》 )并向社会公开征求意见.《征求意见稿》乃 根据2018年1月七部门联合发布的《对外投资备案 (核准)报告暂行办法》(详情请见我所《每月立法 动态》2018年2月刊)制定,进一步细化了企业境外 投资的报告事项、报送时间以及未履行报告义务的责 任后果. 根据《征求意见稿》,所有取得境外投资备案(核准)的投资主体均应履行对外投资报告义务,对于返 程投资情形,《征求意见稿》给予了报告义务的部分 豁免,即投资主体仅需报告每月投向境外第一层级企 业的实际投资额,无需履行《征求意见稿》中的其他 报告义务.在处罚措施方面,商务主管部门可视情况 对未按规定履行报告义务的投资主体采取一定措施, 包括暂停为其办理对外投资备案(核准)手续等. 总体而言,《征求意见稿》较为全面地规定了对外投 资在商务部门层面的报告要求及操作细则,根据现行 规定,投资主体还需另行向发改委及外汇管理部门报 送对外投资项目信息,对于各部门之间如何进行信息 共享与联合监管、是否会开展联合报告等问题,《征 求意见稿》暂未明确.对此,我们将保持持续关注. OUTBOUND INVESTMENTS / 境外投资 On April 8, 2019, the Ministry of Commerce ( MOFCOM ) released a new draft of the Detailed Rules on Reporting of Outbound Investments Subject to Filing or Approval Requirements (the Draft Rules ) for public comments. In accordance with the Interim Measures on Reporting of Outbound Investments Subject to Filing or Approval (please refer to our January

2018 issue of China Regulatory Updates for details) issued in January 2018, the Draft Rules has refined guidance and regulations on the matters subject to reporting, the reporting time limits and the liabilities for failure to report or failure of a timely report. It is further clarified in the Draft Rules that any investor who has obtained filing or approval with respect to its overseas investment has an obligation to report to MOFCOM or its local counterpart. For round-trip investments, the domestic investors will be exempted from all the other overseas reporting obligations associated with such investments as provided in the Draft Rules except for the obligation to monthly report the actual investment amount made by the domestic investors in the first layer offshore entity. In terms of punitive measures, the Draft Rules has authorized competent authorities to take certain measures against the investors who fail to fulfill their reporting obligations, including among others, suspending the filing or approval procedure for existing or future outbound investments. In general, with respect to the reporting system administered by MOFCOM, the Draft Rules has provided detailed procedures and requirements in all major aspects. According to applicable laws and regulations, investors shall also report to competent foreign exchange regulators and the National Development and Reform Commission regarding their outbound investments. But it remains unclear under the Draft Rules as to whether and when a unified reporting system will be launched to facilitate information sharing and joint supervision among various departments. We will continue to monitor and timely update major developments in this connection. CHINA REGULATORY UPDATES May,