China is overhauling its now 30-years old regulations for cosmetics, a fast-growing industry of now 260 billion Renminbi (euro 34 billion). The new rules remove some of the red tape, says lawyer Mark Schaub, but also gives the authorities more leverage over the industry, he writes at the China Law Insight.
For years the business community feared China’s central government would kill the so-called VIE’s (variable-interest entity). The tool to circumvent the country’s strict ownership regulations was never endorsed by the government but has also never been in serious trouble, tells China veteran and lawyer Mark Schaub to Bloomberg. The ban even did not show up in the draft foreign investment law, last week.
The new foreign investment law is no longer mentioning the ban on VIE’s like an earlier edition did in 2015. The tool to circumvent Chinese regulations by channeling investments through foreign tax havens is no longer needed, says financial expert Paul Gillis, a professor at Beida University. Controlling capital streams
Equal treatment for foreign companies and a more open economy are just two of the positive issues China new foreign investment law offers, writes China veteran and lawyer Mark Schaub at the China Law Insight. The draft will be debated in the upcoming parliamentary conferences and includes a few interesting twists, including a revival of the VIEs (Variable Interest Entities)
China banned in September 2017 ICOs (Initial Coins Offerings) after some high-profile cases of fraud but certainly not block all blockchain activities. Lawyer Mark Schaub looks at the China Law Insight at how the government tries to regulate blockchain, one year after the initial ICO ban.
Islam has been high on the hitlist of the central government, but Christian faiths seem to get a different treatment. journalist Ian Johnson, author of The Souls of China: The Return of Religion After Mao, dives for the Independent into the differences between Protestants and Roman Catholics.
Journalist Ian Johnson, author of The Souls of China: The Return of Religion After Mao, did spend much time with pastor Wang Yi and his Early Rain Covenant Church during his research of his book. Now the government is cracking down, it means a drastic change of attitude by the authorities, but Johnson does not expect the religious revolution in China is over, he writes on his website.