LEHMAN, LEE & XU provides a wide range of legal services including corporate-commercial, regulatory, intellectual property, and dispute resolution. The firm serves clients in China and globally.

LEHMAN, LEE & XU LLP

LEHMAN, LEE &amp; XU China Lawyers | 3,118 followers on LinkedIn. Providing seamless, individual bespoke, proactive, client-centered, corporate litigation &amp; IP China legal solutions. | Throw out the old China paradigm. In fact, throw out the word paradigm – and anything else tired, trite, sluggish or slow to describe China legal professionals. Lehman, Lee &amp; Xu is a law firm designed for speed and performance.

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LEHMAN, LEE & XU China Lawyers

CSRC's Power Grab: Local Offices Get New Teeth, Law Firms Bite Back The China Securities Regulatory Commission (CSRC) is shaking up the legal world. Effective May 18, 2024, the CSRC has handed over significant oversight powers to its local offices. This power grab means law firms will now deal with multiple regulatory bodies, each with its own rules and expectations. While the CSRC claims this move will streamline processes, many fear it could lead to a regulatory patchwork. With local offices having the final say on changes in material matters and annual registrations, law firms face a daunting task of complying with potentially conflicting rules. This could stifle innovation and increase costs for businesses. Moreover, the decentralization of power raises concerns about the overall effectiveness of oversight. The CSRC's ability to detect systemic issues or fraudulent activities could be compromised. As the dust settles, law firms will need to adapt quickly to this new landscape. Building strong relationships with local CSRC offices will be crucial. But the broader implications for the Chinese legal and business environment remain to be seen. Only time will tell if this power shift will be a boon or a bane for the industry. [Insert link to CSRC Notice] #CSRC #lawfirms #oversight #china #securities #regulation #compliance #localoffices #decentralization #financialmarkets #legal #business #economy #investing #finance #news #policy #government #change #impact #risk #opportunity #reform #powergrab #regulatory #legalindustry #china

A recent revised Chinese law has captured international attention - the revised State Secrets Law. Enacted in May 2024, this law now includes "work secrets" in its definition of state secrets. Here are the key implications to consider: 1. The expanded definition could encompass a wide range of information, potentially impacting businesses and individuals in China. 2. The law's vague language creates ambiguity for foreign companies operating in China, leading to uncertainty about what constitutes a state secret. 3. Concerns have been raised about the possibility of using the law to target foreign entities or suppress dissent. This change underscores China's growing emphasis on national security and information control. It's crucial for businesses and individuals in China to remain informed about this development and its implications. Stay tuned for more updates on legal changes in China or a deeper dive into the State Secrets Law

Hainan has officially launched the Catalogue of Industries Encouraged to Develop in Hainan Free Trade Port (the “2024 Catalogue”) of encouraged industries. The new catalogue includes over thirty new industries encouraged for investment and development in Hainan, ranging from tourism to high-tech, and specialized services. https://lnkd.in/gGh9SjPA #China #Hainan

Any company that provides online commercial services within China must secure an Internet Content Provider (ICP) license. https://lnkd.in/gueDKWXH #China #OnlineBusiness #ICP

The new five-year period for pay-in of Registered Capital is now in effect. https://lnkd.in/g64TcbHJ

New regulations issued under the Anti-Monopoly law mandate that administrative authorities perform fair competition reviews when drafting laws, regulations, and policies to ensure equitable treatment of all market participants. https://lnkd.in/geQiu8kS #China #Anti -Monopoly #FairCompetion

China just announced plans to create a corporate sustainability reporting system by 2030, designed to align with the International Sustainability Standards Board (ISSB). They're kicking things off with a domestic set of disclosure standards, slated to roll out by 2027. https://lnkd.in/g-_uPmcP #China #ESG

Starting May 1, 2024, the management of human #genetic resources will no longer be under the Ministry of Science and Technology (MST). The National Health Commission (NHC) will take over regulation of this critical area in #China . https://lnkd.in/gFUJ7qXW

China's new regulations on registration of Beneficial Owners, define a Beneficial Owner as a natural person who ultimately owns or controls the a company or enjoys the ultimate benefits of the company, and appear to cover Variable Interest Entity (VIE) structures. Newsletter: https://lnkd.in/g48YDsRK #China #AML

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