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Voices for reform: institutional changes are on the horizon as calls for reform gain momentum
11/06/2008. A new era is in the making as Asia’s institutions seek to liberalise their investment programmes, with private equity and venture capital expected to benefit from such reforms, according to Asia Private Equity Review (APER). 
China goes green: the drive for clean air is gathering momentum in China
07/05/2008. According to the Netherlands Environmental Assessment Agency, China had overtaken the USA as the world’s largest emitter of carbon in 2006. During those twelve months, China produced 6,200m tonnes of carbon dioxide, compared with 5,800m tonnes from the US, while Britain produced about 600m tonnes. The government of the world’s most populous nation also recognises the pressing need for clean air, as industrial growth of the country continues to accelerate. In April this year, the State Council moved to launch the largest environment fund in China, and has set the country’s clean air drive in motion.
Test of strength: exit performance of China portfolio comes under test
16/04/2008. It was a bleak first quarter for China investors. The Shanghai Composite Index has lost more than 34% of its value during the first three months of the year, its worst slump in 15 years. During the same period, Hong Kong’s Hang Seng Index also recorded a drastic slide by 17.85%. With initial public offerings and sales of shares on the public market (‘public offering route’) being the principal source of realised capital for private equity investors, the prevailing stock market condition has an immediate impact on exit performance of China portfolios, according to Asia Private Equity Review (APER).
The power of funds
06/02/2008. Direct equity funds are employed by various government units to advance their applicable goals, according to the Asia Private Equity Review (APER). A private equity fund, or direct equity investment, has become one of the most popular tools now being used by an increasing number of government units within China. For them, a pool of capital with a long-term investment horizon could help to achieve some of the tasks that require both time and monetary support.
China's new anti-monopoly law
19/12/2007. On 30 August 2007, China introduced a New Law, which is scheduled to commence on 1 August 2008. The New Law is China's first comprehensive competition law. It is of particular importance to private equity investors, as it may impact on their investment activities moving forward, as well as the activities of companies operating in China in which they hold an interest, says Pacific Rim law firm, Johnson Stokes & Master.
China Quarterly Venture Capital Report
21/11/2007. Venture capital firms invested a record amount in services-oriented companies in Mainland China during the third quarter of 2007 as overall venture investment produced 59 deals and reached $677m. This is a five per cent increase over the $645m invested in 76 deals during the same period last year, according to the China Quarterly Venture Capital Report released today by Ernst & Young and Dow Jones VentureOne, publisher of the VentureSource database.
The Beauty of Being Quoted
14/11/2007. Private equity-backed companies race to become public on various listing platforms. There has been no respite in the number of private companies seeking to become publicly-quoted stocks. Between 5th October and 2nd November, there were 11 initial public offerings in which private equity investors have had an interest, and they have successfully raised US$6 billion from the public.
The IPO Show
17/10/2007. A number of debuts drew investors’ overwhelming response There has been no end to the Greater China initial public offering (‘IPO’) stampede. The month of September continued to register investors’ feverish responses to recent listings on both the Hong Kong and Shanghai bourses.
Opportunities arise as private equity in China evolves
10/10/2007. China’s economic growth has been phenomenal and this growth has made the country a magnet for investors, says Nixon Peabody. The evolution of the laws governing private investment are creating more opportunities for funds that do their homework and have the patience and flexibility to understand and work with the unique characteristics of private equity investment in China.
Reality & Mirage
19/09/2007. It was not long ago when China's A-share market was described as the world's worst performer on the global market. In a study undertaken by ABN Amro released in February 2006, it revealed China's stock market lagged behind all of its global counterparts and was the only market that recorded negative returns. It was a short page in China's A-share history. Since Beijing engaged in earnest efforts to revitalise its domestic stock market over the past year, this new direction in the pursuit of market economy bore the fruits of success.
Private Equity Summit in Beijing: an upbeat affair, but words of caution as well
12/09/2007. KnowledgeWharton looks at the state of the private equity industry in China. While investment by PE funds in China was only $11.7bn out of a global total of $738bn in 2006, in the first three months of this year Asian PE funds alone pumped in $7.6bn.
Resolving disputes in China through arbitration (2007)
29/08/2007. Arbitration is usually the preferred method of dispute resolution for investors in China and this guide from Freshfields Bruckhaus Deringer aims to describe the most significant features of the arbitral process and the requirements for an arbitration clause.
2006 Venture capital report for the Chinese market
04/07/2007. ChinaVenture's statistics show that the total VC investment in the Chinese market last year was US$ 2.181bn, with 63.3 per cent for the TMT industry. Among the 99 VC/PE-backed exit deals, the exit type for 33 per cent of the deals was overseas IPO. There were 41 newly raised funds in the Chinese VC market with a total financing of US$ 4.443bn.
Chinese clean energy development to beat targets
23/05/2007. New Energy Finance forecasts that China’s clean energy industry will outstrip even the ambitious targets being set by the country’s National Development and Reform Commission (NDRC). Renewable energy will supply up to 19.0 per cent of the country’s needs by 2020, but will require total investment of $267bn - around 50 per cent more than forecast by the NDRC.
A crucible of competition: the emerging Chinese company
18/04/2007. It's hard to believe today, says Knowledge Wharton, but private companies are still a relatively new phenomenon in modern China. In 1988, the Chinese government began breaking up state-owned enterprises into individually directed, but still largely state owned, companies. At around the same time, some private companies began to form, but only in 1993 did the government pass its first comprehensive law permitting private enterprise.
Focus and actions
18/04/2007. Investors are flocking to Greater China, but with a clear investment focus, says the Asia Private Equity Review. The Greater China region, which has all the credentials to win foreign investors’ capital, witnessed vibrant investment activities during the few weeks leading up to the end of 2006. An unprecedented number of transactions were consummated in companies based in both the People’s Republic of China, as well as Taiwan. But investors were clear in choosing the preferred industrial sectors to which they preferred to commit funds. While they were prepared to inject capital into an array of industrial sectors in the PRC, financial investors are keen on Taiwan’s banking and finance activities.
One billion, three hundred million: the new Chinese consumer
04/04/2007. One billion, three hundred million customers, says Knowledge Wharton, It's a number that has captured the attention of every company in the world that wants to do business in China, hoping to market everything from toothpaste to financial services to luxury cars.
Buying spree
28/03/2007. A surge of buy-out activities are taking place in China, says the Asia Private Equity Review. The recent spate of buy-out commitments is not only unprecedented, but is also a clear statement from foreign investors that their investment activities are in not anyway being impeded by the recently-implemented mergers and acquisitions rules.
China’s emerging venture capital opportunities
21/02/2007. Without question, China has quickly become the new economic growth frontier, says Igor M. Sill of Geneva Venture Partners. Pursuing investment opportunities in China have become far easier as a result of recent changes in China’s law. Until just three years ago, China did not have an enabling law for the formation and availability of venture capital funds. Without such a law, substantial capital from China's private sector could not be effectively channeled into development of a high-tech sector for venture funding.
The new breeds
06/12/2006. Two different profiles of private equity managers are emerging in China and Indian, says APER, while, they discover, the Asian private equity party is still in full swing.
China or India: Which is the better long-term investment for private equity firms?
18/10/2006. India and China are both vast countries just opening to development, says Knowledge Wharton, filled with opportunity and risk for private equity investors. Inevitably, the two countries' rising economic fortunes invite debate over which offers the better climate for investment.
China PMI report on manufacturing
04/10/2006. The China PMI report on manufacturing finds modest month-on-month increases in output and new orders, while input prices rise for first time in four months.
Resolving disputes in China through arbitration
13/09/2006. Arbitration is usually the preferred method of dispute resolution for investors in China and this guide from Freshfields Bruckhaus Deringer aims to describe the most significant features of the arbitral process and the requirements for an arbitration clause.
The partnership
16/08/2006. China’s aspiring entrepreneurs are positive on venture capital financing, says the AVCJ. Within a short space of one month, China’s venture capital industry welcomed an additional US$490m into the market.
Guide to mergers & acquisitions: Hong Kong
16/08/2006. Mergers and acquisitions are extremely common in Hong Kong and continue to represent a significant means by which corporations pursue the objectives of economic growth, expansion, diversification and wealth realisation, says Baker & McKenzie. Hong Kong law does not provide for a pure merger of companies, they add.
Guide to mergers and acquisitions: China
09/08/2006. The foreign investment regime of the People's Republic of China has evolved considerably since the reformist policies of China's former leader, the late Deng Xiaoping, first opened China to the outside world, says Baker & McKenzie. With its vast reserve of inexpensive labour and its rapidly expanding and potentially enormous market size, the consensus of international investors is that by most counts China is currently one of the most promising jurisdictions in the world for foreign investment. However, international investors have also pointed out that the current foreign investment regime in China is far from perfect.
2006 Update to granting stock options in China
12/07/2006. Fenwick & West give an overview of the legal and strategic issues related to granting stock options in China, including understanding Chinese cultural views of employment and compensation, structuring option grants to comply with applicable Chinese currency controls and securities law restrictions, and the tax consequences of options.
China M&A report
12/07/2006. China's M&A activity is given a lift by favourable regulatory changes and an influx of private equity investment. China’s M&A deals increased 34 percent in value between 2004 and 2005 thanks to major one-off investments in the financial services sector and significant deal activity in Hong Kong, according to a PricewaterhouseCoopers analysis based on data supplied by M&A Asia.
2006 Update to doing business in China via the Caymen Islands
28/06/2006. Many companies doing business in China are using a structure which includes a company formed under the laws of the Cayman Islands, says Fenwick & West. The primary business reasons for an offshore structure are flexibility in an exit strategy, whether in connection with an initial public offering or an acquisition; the possibility of reducing US taxes; and reducing the impact of China’s currency exchange restrictions.
Conducting successful transactions in China
07/06/2006. China's venture capital industry has experienced strong growth in recent years, both in the scale and breadth of activity. Existing foreign and local venture capitalists have stepped up the pace of investment in early-stage and private equity deals, while new entrant investors join the market as a China strategy becomes increasingly essential.
Energy Outlook for China 2006
10/05/2006. This KPMG paper assesses the complexities and challenges of meeting the growing energy needs of China in 2006, and paints the background private equity need to be aware of when entering this seemingly insatiable market.
China reopens the door to offshore restructurings for overseas private financings and IPOs
25/04/2006. In a rare about-face, China's State Administration of Foreign Exchange (SAFE) has replaced regulations issued earlier this year that had stifled the market for private equity financings and overseas listings. Clifford Chance look at how the new system will lessen some of these hurdles.
Common grounds
08/02/2006. China and the US companies are in a bind as economic disparity between these two super powers narrows, says the Asia Private Equity Review.
Chosen
18/01/2006. Hong Kong has firmly established its position as the bourse for Chinese companies and a principal exit route for private equity investors, says the Asia Private Equity Review.
The emergence of China as a global engine of growth
16/11/2005. In this presentation Chin Bay Chong looks at the private equity business in China, including both investment and exit opportunities. There is a huge potential, but investors need to be aware of the differences between the Chinese and other more developed private equity markets, he says.
Harvest in China
09/11/2005. Exit records in Greater China continue to dominate the Asian private equity scene, finds APER. In this feature they examine the healthy state of the Chinese private equity market and hang some details on the current harvest.
China: Recent legal updates and decisions
26/10/2005. Baker & McKenzie look at recent developments which may impact venture capital and private equity firms operating in China, including the Chinese inquiry system for IPOs and the new Forex rules on acquisitions.
China could yet swing to power over-supply as generation continues apace
14/09/2005. Despite constant reminders of China’s insatiable appetite for all forms of energy, private equity investors should be aware that fears still remain that the country could actually swing rapidly from shortage to over-supply, according to an energy sector report from KPMG in China.
Centre of Focus
23/08/2005. A host of foreign private equity firms are making deals in China, underscoring the country's irresistible allure, says the Asia Private Equity Review.
Waiting for the winds
20/07/2005. Greater China could potentially be Asia's buy-out Mecca as each market complements the others in developing buy-out, says the Asia Private Equity Review. In the Greater China market, Hong Kong is the undisputed centre of buy-out funds management, outside of Japan. The territory is home to four globally-known buy-out houses: CVC Asia Pacific, Newbridge Capital, JP Morgan Partners Asia and The Carlyle Group. Their combined fund pool amounts to US$3.3bn. Although buy-outs expertise is clearly absent in both mainland China and Taiwan, there is, however, significant movement taking place in these two markets.
The ICT Landscape in the PRC
04/07/2005. China’s growth story, for ICT companies specifically, has been astonishing, says the International Finance Corporation. China, often referred to as the factory of the world has traditionally had a strong manufacturing base, including a core focus on the electronics industry. In addition, in the past 10 years, we have seen an explosion of the mobile phone population to over 300 million subscribers, larger than any other country in the world. Further, the country’s total number of Internet users has surpassed 90 million subscribers.
Chinese Automotive Market 2010
25/05/2005. Private equity practioners will discover that brand management and customer retention, not production strategies, will decide who wins the battle for the Chinese automotive market. These are the principal findings of the latest study from Mercer Management Consulting, which concludes that only producers with strong and distinctive brands will survive the impending consolidation of the industry.
M&A in China
21/03/2005. M&A activity in China is being driven by continued restructuring and privatisation of former state-owned enterprises, finds PricewaterhouseCoopers.
Bankruptcy reform in China
19/01/2005. The introduction of a new draft bankruptcy law to China’s top legislature could mark the beginning of major changes to China’s investment climate, says Freshfields Bruckhaus Deringer. Its enactment would signal a sincere effort by the Chinese authorities to reform China’s outdated and inadequate bankruptcy system. The implications for international business are likely to be significant.
China Venture Capital Survey 2004
20/12/2004. China's annual venture capital investments surpassed US$1 billion for the first time, says Zero2IPO. Compared to 2003, they found the number of deals increased by 43% while the total investments increased by 28%.
Annual venture capital insights report 2003/4: Focus China
16/09/2004. Anyone who has regularly attended venture capital conferences in the U.S. or Europe over the past year will have noticed the remarkable increase in the industry buzz about China. Where a year ago one heard about China only from a small avant garde of American venture capitalists, now panel discussions on how to make sense of the opportunities in China are de rigeur conference fare, according to the Ernst & Young venture capital advisory group.
So you're thinking of investing in China?
26/08/2004. Venture capital industry consultant Dr. Martin Haemmig recently returned from China where he was assessing the country's investment environment and rapidly developing venture capital industry. In this article the Israel Venture Capital Journal interviews Dr. Haemmig about a range of challenges facing investors in the Chinese market including legislation and regulation, management issues and investment strategy.
Exiting distressed investments in China
14/01/2004. Exiting an investment in China can be more challenging than making the initial investment and requires careful planning and implementation. Knowledge of the documents, laws, and regulations are vital, but equally critical is first-hand experience of what has actually been achieved in similar circumstances, according to PricewaterhouseCoopers.
Corporate governance and enterprise reform in China
10/12/2003. Over the past decade, China has made significant progress in developing the institutional foundations for a modern corporate governance system, according to the International Finance Corporation. But there is still vast scope for further institution-building to improve the practices of Chinese companies.
Provisional rule on acquisitions of domestic enterprises by foreign investors
19/11/2003. The Provisional Rule on Acquisitions of Domestic Enterprises by Foreign Investors was introduced in China in March 2003. Steven Robinson of Hogan & Hartson summarises the new regulations and provides guidance for foreign investors engaging in acquisition transactions in mainland China.
China's New Foreign-Invested Venture Capital Regulation
05/11/2003. Despite the increased interest in China, most venture capital funds investing there base their operations overseas. But under new regulations, which came into force earlier this year, venture firms may find it more attractive than previously to domicile a fund in China itself. Xiaohu Ma, Steven L Toronto, Charles C Comey and Jun Deng of Morrison Foerster outline the implications of these reforms.
Welcomed development in foreign-invested venture capital holding structure in China
01/10/2003. The developments in the Chinese venture capital industry since the country joined the World Trade Organisation have been the subject of much commentary among industry players. Here, Cassie Wong and Howard Yu give their assessment of how the new rules might affect China's venture capital landscape.
Getting nowhere: private equity in China
09/09/2003. The structure of the Chinese venture capital market is very different to its western counterparts. Jonathan Zhou of Fangda Partners examines how the region's market is structured and how this has contributed to its current state.
Investment Funds Chinese Style: China's revised private equity rules
28/05/2003. Initial attempts by the Chinese government to promote China's venture capital industry, made in 2001, fell well short of what was required to encourage large scale international investment. This year the rules have been rewritten. Debevoise & Plimpton provides a detailed overview of the regulatory reform and how it will facilitate access for global private equity firms wishing to invest in China.
Powering up the power industry
16/04/2003. China's State Council recently approved a structural reform plan for China's power industry. It is expected that this development will open the door to more foreign investment. Petrina Tam and Kai Jiang of PricewaterhouseCoopers discuss the reforms and the potential modes of entry for foreign investors.
China notes January 2003
09/04/2003. It's essential for investors interested in making a commitment to the Chinese market to be aware of the complexities of Chinese tax and regulatory environment. Freshfields Bruckhaus Deringer's China Notes provide a useful background.
The Good Earth
02/04/2003. A swelling pool of Chinese privately owned enterprises may provide an exciting prospect for investors willing to risk the inherent dangers of this rapidly developing emerging market. Asian Private Equity Review balances the positives of an unprecedented level of consumer purchasing power and multi-national trade sale exit opportunities with the negatives of a convoluted regulatory system and underlying corruption.
Foreign investors on a slow boat to China
26/02/2003. Recent regulations introduced in China have served to promote the venture capital industry to foreign investors. The China Venture Capital Association discusses the current state of the market in the region and assesses the opportunities for overseas investors.
MBO - coming of age in China
04/02/2003. MBO fever is raging in China as Beijing further liberalises its protected economy. The Asia Private Equity Review provides an overview of the current status of the market, as well as future challenges.
China notes (June 2002)
18/12/2002. Freshfields Bruckhaus Deringer's China Notes provide a background for investors interested in moving into a market notorious for its complexity, corruption and – conversely – rich opportunities.
China notes
03/12/2002. China remains a conundrum to many foreign investors. But its vast size and rapid economic growth seem to indicate that China will be a source of rich opportunities for those private equity firms prepared to take the risk. In the July/August edition of China Notes, global law firm Freshfields Bruckhaus Deringer gives an update on legal developments in China.
People's Republic of Capital
26/11/2002. China has been embracing Western-style capitalism with increasing enthusiasm in recent months, as evidenced by the recent formation of the China Venture Capital Association. Julie Landry of Red Herring discusses what the creation of this association will mean for the region.
A tune-up for China's auto industry
22/11/2002. Global carmakers can not only manage their costs and capital better by contracting out the manufacture of whole vehicles to Chinese companies but also work their way toward an even more valuable endgame: building Chinese automakers into a global manufacturing resource.
Investing in life sciences - things for VCs to look out for
12/11/2002. Biotechnology has become the hottest topic around for private equity investors. Yet investing in the sector must not be undertaken lightly – especially in emerging markets. CMS McKenna discusses these issues for the Chinese venture capital industry.
Solving PRC legal issues to minimise risks for private equity investors
23/10/2002. China has recently opened its doors to foreign private equity investors but there still remain several hurdles to overcome. Luke Filei of CMS Cameron McKenna discusses some of the legal issues affecting overseas investors, including those in the private equity arena, in their investments in China and suggests some practical solutions for those issues.
China is viewed as a source of profits - and frustration
01/10/2002. After China's admission into the WTO this year, and taking into account its economic growth rate of eight per cent a year, China has become a country with real potential for a venture firm willing to brave the administrative problems and widespread corruption, argues Beth Healy of the Boston Globe. There are still problems with entry into such a difficult market, not least of which is the formative capital markets which make the outlook for exit opportunities uncertain. But one or two US firms have opened Chinese offices, including IDG, Vertex Venture Holdings and KLM Capital Group.
China issues long-awaited rules on foreign investment in fund management companies
10/09/2002. China, long predicted to offer rich venture capital opportunities, has traditionally been a difficult arena for foreign investors. But the China Securities Regulatory Commission has issued rules that clarify what is and is not feasible. Vivienne Bath and Cecily Pang of Coudert Brothers point out the most important issues.
New map for foreign venture capital investments in China
04/09/2002. China's accession to the World Trade Organisation and recent changes to regulations governing foreign investment have opened up new opportunities for venture capital investors. CMS Cameron McKenna discusses the new regulations that are now in place and how they may affect the region's venture capital landscape.
‘Informal' entrepreneurship is the key to China's success
19/08/2002. China's economy continues to thrive despite an absence of sound financial and legal systems. This is largely due to the country's dependence on ‘informal' structures and the growth of entrepreneurship in the region. But, warns Knowledge Wharton, entrepreneurship is very different in China from that in the US and Europe and therefore traditional Western models do not always apply.
Greater China regional venture capital survey 2002
23/07/2002. China's venture capital industry is undergoing development and is showing some very positive signs. The second Greater China regional venture capital survey from CMS Cameron McKenna reflects some interesting trends in the market and demonstrates the potential that China offers for this year and next.
Venturing in China's internet market
15/07/2002. The Chinese government now actively promotes the internet, and e-commerce in particular, say Yongfu Li and Aili Zhao of Cameron McKenna. It recognises the technology as a way of improving efficiency and sharpening the competitive edge of companies, particularly state-owned enterprises. In addition to government encouragement, investors can expect rapid expansion in the sector, with turnover increasing from $94.6m to $1.2bn over the coming year.
The China syndrome
10/07/2002. China's entry to the World Trade Organisation will bring about some massive changes – many of them to the overseas investor's benefit. Its private equity pool has grown to over $24bn and its government is eager to promote the industry. However, as David Leidl of the AVCJ discusses, while offering a multitude of benefits, investors must also be cautious of the inevitable pitfalls.
Entering the dragon: venture capital investment in China after WTO
01/07/2002. Until recently, China had no specific laws or regulations on venture capital investment, and foreign venture capital investors have therefore had to rely on China's general corporate law and its foreign investment regime when structuring investments in the PRC. This has presented a number of difficulties for investors. Last year saw dramatic changes, say Vivienne Bath and Cecily Pang at Coudert Brothers, considering the impact that the reformed regulations will have on the industry.
The middle kingdom beckons
25/06/2002. With China's recent accession into the World Trade Organisation, barriers to trade and investment have all but vanished. VG Kulkarni of the Asian Venture Capital Journal discusses the rise of private equity in the country and examines some of the remaining hurdles.
Getting nowhere: private equity in China
04/06/2002. Just two years ago private equity was still a new concept in China. Despite this, China still experienced a new economy bubble, along with the rest of the world, before the 2000 Nasdaq crash. During that period entrepreneurs began to raise money for start-ups that presented ambitious but untested business models. By the time the Chinese market had begun to understand private equity, the frenzy was suddenly gone, says Jonathan Zhou of Fangda Partners.
China gives preference to high-tech industries
27/05/2002. China has a stated policy of encouraging investment into high-tech industries and, as a result, a variety of special concessions are on offer to foreign investors. Yunfang Wendy Guo of KPMG seeks to help foreign investors understand and take advantage of these preferential policies.
Pay your dues before, not after
21/05/2002. Until recently, investors in China found that the greatest barrier to the success of its venture capital industry lay in its limited opportunities for exit. However, as Chris Boddington of PricewaterhouseCoopers discusses, exit routes are becoming easier to identify and increased due diligence prior to investment is taking over as the stumbling block.
China vs Japan: the race to create a market economy
30/04/2002. Japan's deteriorating economy is of great concern. If China stabilises its own economic climate and implements market reform it may well reap the benefits from Japan's current difficulties. Knowledge Wharton speaks to William Overholt, a senior fellow at the Harvard University Asia Centre, to discuss the future for these countries.
China permits foreign investors to establish venture capital companies in China
27/03/2002. Over the last three years, China has acknowledged that to sustain its high growth rate it must open its doors to foreign investment in venture capital funds. This in turn will allow the country to develop its technology and knowledge-focused industries. Lawyers at Squire, Sanders & Dempsey discuss the opening for foreign investors in China's venture capital market.
China's first national foreign venture capital rules what they do and what needs to be done
12/03/2002. Restrictions on foreign investment in China's private companies have eased since the government established a set of rules on establishing foreign-invested venture capital enterprises. Jeffrey Wood and Richard Xu of Debevoise & Plimpton examine these ground-breaking rules that should attract foreign investors, but also suggest that they do not go far enough.
Tentative rules on establishment of foreign invested venture capital enterprises
05/03/2002. The Chinese market has the potential to offer investors a wealth of opportunities, provided that the regulatory and economic conditions are right. The government is looking at creating those conditions and in September 2001 the ministry of foreign trade and economic cooperation, the ministry of science and technology, and the state administration for industry and commerce brought into effect tentative rules on the establishment of foreign invested venture capital enterprises. The following is an unofficial translation of the rules conducted by law firm Debevoise & Plimpton.
Venture capital investment in China after WTO entry
18/02/2002. Until recently, China had no specific laws or regulations on venture capital investments. Foreign investors have therefore relied on China's general corporate law and its foreign investment regime when structuring investments in the PRC, which has presented them with a range of difficulties. Vivienne Bath from Courdert Brothers looks at how new Chinese regulations aim to define a legal framework for venture capital investment.
Foreign investment in the PRC
21/01/2002. For most overseas investment, including venture capital, there are procedures that must be followed and specific methods for investing. Here, Deacons provides an overview of the different vehicles available for foreign investment in the People's Republic of China – an untapped venture capital market.
China spurs venture capital investment
09/01/2002. The Chinese authorities are creating a framework that they hope will attract venture capital funds onshore. Lawyers from Morrison & Foerster present the pros and cons of the new regime.
Dragon equity: thoughts on the role and future of private equity in China
11/12/2001. The boom years for foreign investment in China are over. China will have to offer more than the chimerical dream of accessing the huge market its 1.3 billion people represent. It will have to offer foreigners ease of investment and a variety of forms for that investment, ease of doing business in China and the reality of profits rather than endless promise. Daniel Burstein of Millennium Technology Ventures seeks to explain how this may be achieved.
China's entry into the WTO: What lies ahead?
03/12/2001. After years of negotiation, the World Trade Organization agreed on Nov. 10 to open its doors to the world's most populous country and bring its 1.3 billion consumers more closely into the global economy. The decision will create new sets of business winners and losers for years to come. But perhaps more important, it presents a fresh opportunity for governments, industries and individual companies to reshape the very nature of the global marketplace. In a report prepared in collaboration with Beijing-based People's Daily Online, Knowledge Wharton interviewed experts for their assessment of what lies ahead for China.
Tapping China's venture capital market
03/12/2001. Venture capital, is a relatively new concept in China. Although some claim that venture capital funds have been active in China for more than 20 years, the more modern breed of high-tech venture capital only began to appear in 1993, according to Janine Canham and Catherine Guo of CMS Cameron McKenna
Venture capital in China
13/11/2001. China's entry to the World Trade Organisation will provide a wealth of opportunities for venture capitalists operating in Asia. A new and open Chinese economy offers investors a huge potential market just waiting to be developed. Lord Sainsbury outlines his vision for the future of venture capital in China.
What the WTO really means for China
24/08/2001. Membership of the World Trade Organisation is expected to have a great impact on the Chinese economy. However, this article from the McKinsey Quarterly explains why the expected transformation will only occur in certain sectors and may not be as widespread as people believe.
Tapping China's venture capital market - a legal perspective
29/05/2001. The Chinese venture capital market is still young but, with some government support and foreign investment, it looks very promising. Cameron McKenna identifies some of the legal issues involved in investing in this emerging market.
Venture capital fund formation in China
29/05/2001. Pursuing investment opportunities in China should become far easier in the future. Deacons discusses the emerging legal framework for establishing venture capital funds which promises to change the nature of the industry. As foreign VC firms gain access, so do their institutional investors.
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