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2026-08-20From "Formal Compliance" to "Substantive Compliance" – A Shift in Regulatory FocusAgainst a backdrop of geopolitical volatility and fiscal pressure, "substance over form" and "reasonable commercial purpose" have become core principles across tax, accounting and legal regulation. This article traces their historical
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2026-08-20Outbound Investment Series | State Council Decree No. 837 Takes Effect – A Compliance Guide for Technology Transfer in Overseas InvestmentsOn 1 July 2026, the State Council Decree No. 837 (hereinafter "Decree No. 837" or the "Regulations") on outbound investment officially took effect. Article 13 draws a clear red line: investors shall not export or use goods, technologie
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2026-08-20Outbound Investment Series | 1 August Take Effect! Thailand DBD Order No. 2/2569 Brings New Substantive Control Rules – Nominee Shareholding Loopholes for Chinese Investors Are ClosingOn 1 August 2026, Thailand's Department of Business Development (DBD) issued Order No. 2/2569, marking a fundamental shift in foreign investment regulation—from documentary compliance to substantive control and economic substance review. Previously, DBD
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2026-07-02New Policy Focus | An Analysis of the Action Plan for Consolidating, Stabilizing and Optimizing Foreign Investment UtilizationRecently, the Ministry of Commerce (MOFCOM), together with the National Development and Reform Commission (NDRC) and the Ministry of Finance, jointly issued the Action Plan for Consolidating, Stabilizing and Optimizing Foreign Investment Utilization(herei
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2026-06-11Breaking! Effective July 1 – In-depth Interpretation of the State Council's New Overseas Investment Regulations | Series III: After the New Regulations, Which Key Issues Remain Unresolved?The Regulations of the State Council on Outbound Investment(State Council Order No. 837, hereinafter "Order No. 837"), officially announced on June 1, 2026, represents a landmark piece of top-level legislation in the history of China's outbound
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2023-08-28OFFSHORE Series | A Quick Overview of Significant Controller Register (SCR) Compliance for Hong Kong Companies
Amendments have been made to the Companies Ordinance (Chapter 622) (with Part 2A added to Division 2 of Part 12), stating that companies incorporated in Hong Kong must take reasonable steps to identify their significant controllers. The significant contro
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2023-08-21ODI Series | Overseas Greenfield Investment: Exploring Japan
Following Warren Buffett's investment in Japan and the increasing attention from global investors, China's enterprises expanding overseas have set their sights on Japan's capital market. As the world's third-largest economy, Japan boasts a robust legal fr
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2023-08-14OFFSHORE Series | A Comprehensive Guide to Establishing Hong Kong Limited Liability Partnership (LLP)
As a significant global financial hub, Hong Kong remains a sought-after investment destination for investors worldwide. To facilitate business activities, the current regulatory framework in Hong Kong offers various types of business entities for investor
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2023-07-31Foreign Exchange Compliance | In-Depth Analysis of Foreign Employees Participating in Equity Incentive Plans of Domestic Listed Companies
As Chinese companies continue to expand into international markets, the recruitment and incentivization of foreign employees have garnered widespread attention among domestic firms, particularly those listed on the stock market. In recent years, regulatio
