The IFLR Guide to China 2004

  • Editorial

  • Introduction: China faces challenges of reform

    The rapid economic growth seen in the People's Republic of China in 2003 will slow this year, but will still probably outpace the government's target. Concerned at patches of economic overheating and unbalanced socio-economic development, the government has taken steps to control credit expansion and is emphasizing a more balanced approach, with help for rural areas. But the country faces many challenges, including a weak banking system, state enterprise reform, job creation and poverty reduction

  • Introduction: Interview: Foreign bankers seek regulatory clarity

    Hubert Lem, head of China matters in the law division of Morgan Stanley Asia, tells IFLR what more regulators should do to give foreign investors greater confidence in the mainland

  • Introduction: Interview: A-share trading triggers wider securities reform

    One year after the arrival of foreign investors in China’s $500 billion A-share market, domestic companies have slowly begun to improve corporate governance. Nicole Yuen, head of China equities at UBS, explains how and calls on the regulators to use this experience as a catalyst for further reform

  • China sets stage for more complex M&A deals

    Foreign investors can now structure onshore China acquisitions in ways that would have been impossible only a few years ago. But regulatory clarity is still needed in many areas, say Michael J Moser and Adam J Kearney of Freshfields Bruckhaus Deringer

  • How to buy state-owned shares

    Foreign investors can now buy state-owned shares in Chinese listed companies, although many approvals are needed and the regulatory framework is less than perfect. Jon L Christianson, Alec P Tracy and Fei Qiao of Skadden Arps Slate Meagher & Flom LLP & Affiliates explain

  • New trade channels open to foreign investors

    China has made it possible for foreigners to play a big role in the commercial retail and wholesale sectors. Emma Davies of Clifford Chance explains

  • What to expect from arbitration in China

    Denis Brock, Eu Jin Chua and Kathryn Sanger of Clifford Chance outline the issues foreign parties will face when involved in China's most popular method of dispute resolution

  • Foreign investors queue to buy bad debt

    Interest in China's non-performing loan market is rising. Now the government needs to follow through with additional legislative and regulatory developments, says James Olson of Heller Ehrman White & McAuliffe LLP

  • Regulations hinder new banking products

    Foreign banks have to overcome many regulatory challenges to introduce new products to the China market. Robert Chen of King & Wood explains

  • What China would gain from allowing investment overseas

    China is getting closer to formulating a legal framework to allow qualified domestic institutional investors to tap overseas capital markets, although the details need working out. Neil Torpey, Jon Lewis and Todd Liao of Paul, Hastings, Janofsky & Walker LLP explain

  • Regulators show commitment to derivatives

    Patrick Lines, Thomas E Jones and Susan Finder of Freshfields Bruckhaus Deringer explain China's new financial derivatives regulations and the opportunities they provide for institutions allowed to trade in these products for the first time

  • Why mortgage-backed deals are not possible without reform

    If China wants to make the most of mortgage-backed securitization, it will have to rethink its legal system, say Anthony Qiao and Zeng Xianwu of Zhong Lun Law Offices

  • Making a strategic investment in a Chinese bank

    As China slowly opens its banking industry, foreign financial institutions are increasingly looking to make strategic investments. Charles Qin, Jonathan Pan, Stanley Cha and Roy Zhang of Llinks Law Office outline the options for investors

  • Building world standards in China

    Changes to the construction and design regimes are needed if China wants to attract more foreign investment into the industry and increase its own standing in the global market. By John Cole, Philip Nunn and Michael Hickman of Simmons & Simmons

  • Foreigners mull options for telecoms investment

    Jeanette K Chan and Marcia Ellis of Paul Weiss Rifkind Wharton & Garrison LLP evaluate the ways to structure foreign investment in China’s telecoms companies under new M&A regulations