Professional Interpretation

<p class="MsoNormal"> <i>Guidelines on Debt Financing Instruments of Overseas Non-financial Enterprises (for Trial Implementation)</i>&nbsp;(the "<b>Guidelines</b>") on January 17, 2019.&nbsp; The Guidelines provides specific rules and operational requirements for overseas non-financial enterprises to issue debt financing instruments in the China Interbank Bond Market. </p> <p class="MsoNormal"> <br /> </p>

<p class="MsoNormal"> Offshore business refers to an international financial business that utilizes funds absorbed from non-residents to meet the financial needs of other non-residents. The client is a non-resident and the currency is limited to freely convertible currencies. As a special business organization, offshore companies have played an important role in the operation of international investment, international trade, property protection, international tax planning&nbsp;and other field. Most offshore registration sites have the following traditional features: </p>

<span>Most recently on December 29, 2018, National Development and Reform Commission (NDRC) jointly with other six government authorities issued Compliance Management Guidelines for Chinese Companies Doing Business Overseas&nbsp;(hereinafter referred to as Guidelines for Overseas Business).&nbsp;Compliance is a call for Chinese businesses going global including along the One Belt&amp; One Road, and to a large extent dictates whether the business can succeed or fail. Compliance failures have been found in many bankrupted or problematic outbound&nbsp;projects.</span>

<span>A draft of the proposed legislation, Foreign Investment Law&nbsp;(the “Draft”), was presented at a meeting of the Standing Committee of the National People's Congress (NPC)&nbsp;on 23 December 2018. China's legislature is considering a new law governing foreign investment that will streamline existing rules and prevent the forced transfer of technology.&nbsp;The new "unified law" will replace three existing laws on Chinese and foreign equity joint ventures, non-equity joint ventures and wholly foreign-owned enterprise.&nbsp;</span>

<p class="p" align="justify" style="text-align:justify;background:#FFFFFF;"> <span style="font-family:" font-size:16px;background-color:#ffffff;"="">With the continued depreciation of the RMB, the net outflow of capital has increased, and the risk of foreign exchange loss has intensified. The SAFE has strengthened supervision over the exchange of arbitrage. It seems that only the virtual currency trading platform is still outside the direct supervision of foreign exchange. However, in September 2017, the People's Bank of China, the Central Network Information Office, the Ministry of Industry and Information Technology, the State Administration for Industry and Commerce, the China Banking Regulatory Commission, the China Securities Regulatory Commission, the China Insurance Regulatory Commission on the Prevention of the Risk of Issuing Token Financing" (hereinafter referred to as "Announcement" ), which cut off the exchange between virtual currency and fiat money in China, thus fundamentally curbing the tendency to use tokens to circumvent foreign exchange controls. The International Department of Beijing Docvit Law Firm intends to analyze the reasons and inevitability of the prohibition of Bitcoin transactions from the perspective of foreign exchange supervision.</span> </p>

<b>Abstract</b><span>: The risk management of sports events is a systematic and complex project. With the increase of sports events held in China, the risk management of sports events is getting more attention from organizers. What measures should be taken to avoid and deal with the risks in the implementation of sports events has become the primary consideration of organizers and managers.&nbsp;</span><b>The Sports Business Team of Beijing Docvit Law Firm&nbsp;</b><span>will analyze the legal risks in sports events and make suggestions on how to deal with them.</span>

<p class="MsoNormal"> At present, the United States and Hong Kong capital markets are the most popular choices for domestic&nbsp;companies to list overseas. Due to its important position in the world capital&nbsp;market and special&nbsp;geographical location, listing in Hong Kong is the best choice for many domestic companies. However, many applicants have recently been rejected by&nbsp;the Hong Kong Exchanges and Clearing Market&nbsp;(including Main Board and GEM). This note by&nbsp;<b>the International Affairs team form Beijing Docvit Law Firm</b><b>&nbsp;</b>briefly discusses the&nbsp;reasons for the failure of listing in Hong Kong. </p>

<span style="font-family:" font-size:16px;"="">In recent years, the number of mainlanders who have purchased insurance in Hong Kong has shown a sharp upward trend. Compared with similar products in the Mainland, Hong Kong's insurance has the characteristics of low rates, high returns and wide coverage, which&nbsp;are&nbsp;the most important factors&nbsp;in attracting mainland policyholders. However, overseas insurance policies are not suitable for everyone. Those who go to Hong Kong to buy insurance should buy appropriate insurance from the actual situation.&nbsp;This note by&nbsp;the International Affairs team form Beijing Docvit Law Firm&nbsp;briefly discusses the&nbsp;risk analysis of Hong Kong insurance.</span>

<p class="MsoNormal"> The Internet broadcast rights of sports events is the result of a combination of sports and new media. The broadcast of sports events dates back to the 1936 Olympic Games in Berlin. The rapid development of network technology has greatly expanded the way and content of sports events broadcast. At present, the legal concept of internet broadcast rights for sports events is not clear in China, and the protection measures are not perfect. <b>The Sports Business Team of Beijing Docvit Law Firm&nbsp;</b>will analyze the legal nature of internet broadcast rights of sports events and discuss the legal protection issues.&nbsp; </p>

<span>subrogation right, which is the guarantors recourse right against the debtor after the guarantor paying back for the debtor. In the dispute arising between guarantor and DOCVIT dispute resolve team will discuss today is if the jurisdiction agreed upon on in the main contract should be applied or the statutory jurisdiction should dominate when to exercise the subrogation right.</span><b>&nbsp;Beijing DOCVIT dispute resolve team</b><span>&nbsp;will discuss this problem.</span>