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Chinese apps today face intense scrutiny, if not outright bans, in certain key overseas markets. Lawyers say that the situation demands that they adjust their thinking about how they operate in certain countries, and come up with fresh strategies for the same.
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Tian Yuan Law firm and Commerce & Finance Law Offices have led on two new health sector initial public offerings of Hygeia Healthcare and Hepalink Pharma in Hong Kong. They’ve advised the issuers and joint sponsors respectively in both deals.
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DeHeng Law Offices and Simpson Thacher & Bartlett have advised China vaping device manufacturer Smoore on its $885 million initial public offering in Hong Kong, with Reed Smith Richards Butler, Reed Smith and Zhong Lun Law Firm advising the sole sponsor Citic Securities.
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Paul Hastings and Commerce & Finance Law Offices have advised China Bohai Bank on its $1.78 billion initial public offering in Hong Kong, with Clifford Chance and Haiwen & Partners advising the joint sponsors.
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Anglo-American law firm Bryan Cave Leighton Paisner (BCLP) has recently announced that it will close its Beijing office, making it the third international firm after Stephenson Harwood and Vinson & Elkins to declare its intention to exit the Chinese capital in the past two months.
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Shanghai-based Yuanda China Law Firm has ended its 13-year relationship with Chicago-headquartered McDermott Will & Emery (MWE), and entered into a new alliance with Winston & Strawn.
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Skadden, Arps, Slate, Meagher & Flom and Han Kun Law Offices have advised Chinese car comparison website Bitauto and classifieds portal 58.com, both previously listed in New York, in going private with the transactions being valued at $1.1 billion and $8.7 billion, respectively.
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Skadden, Arps, Slate, Meagher & Flom, Gibson, Dunn & Crutcher and Zhong Lun Law Firm have advised China internet heavyweight NetEase on its $2.7 billion secondary listing in Hong Kong, with Davis Polk & Wardwell and JunHe advising the joint underwriters.
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On January 1, 2020, the new Foreign Investment Law (FIL) of the People’s Republic of China and its Implementing Regulations came into force, formally replacing the so-called Three Foreign Investment Laws which has a history of nearly 40 years in China, marking the arrival of a new era of foreign investment.
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U.S. law firm Vinson & Elkins has announced that it will close its Beijing office by the end of 2020, making it the latest international firm to cut back on its offering in the Greater China region.