China

Recent Articles

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  05.12.2023

  International

  ROAD TO COP28: What to expect?

  With record temperatures sweeping, wildfires raging, and the onset of the hottest week ever documented worldwide in early July, there is much less to be optimistic about the climate change since COP27. Apart from a few vital takeaways - such as the establishment of a Loss and Damage Fund - COP27 had its controversies. Many countries - specifically, developing nations - are frustrated with the slow progress, which some deem no progress at all. With COP27 arguably failing to demonstrate a reassuring plan to put the world on a more sustainable path, focus is now on the upcoming COP28 which will take...

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  04.12.2023

  International

  Hague 2019 and recognition and enforcement of foreign judgments – a welcome step in the right direction

  UK Government confirms entry into Hague 2019On 23 November 2023 it was confirmed that the UK government will sign the Hague Convention of 2 July 2019 on the Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters (“Hague 2019”).  The decision paves the way to the implementation of an effective and uniform approach for the mutual recognition and enforcement of judgments between the UK and other contracting states, including EU member states (other than Denmark), Ukraine and Uruguay.  The United States, Israel and Russia are also expected shortly to ratify...

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  24.11.2023

  International

  Carbon Border Adjustment Mechanism transition in effect since 1 October 2023

  On 1 October 2023, a two-year transitional period began for implementation of Regulation (EU) 2023/956, which introduces the Carbon Border Adjustment Mechanism (CBAM). CBAM levies punitive CO2 charges against third-country importers of certain goods and only permits CBAM declarants to import these goods into the EU. Although reporting obligations have been imposed for the two-year transition period, CBAM does not fully go into effect until 1 January 2026.A. General InformationFrom 1 January 2026, importers of specific goods from third countries will be required to pay punitive CO2 charges under...

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  16.11.2023

  International

  NFTs under MiCAR – are they regulated or not?

  The Markets in Crypto-Assets Regulation (MiCAR) sets down a harmonised regulatory framework for crypto-assets. MiCAR's overarching goal is to extend regulatory oversight to those categories of cryptos and tokens that have so far remained outside the scope of regulation. The following focuses specifically on non-fungible tokens (NFTs) and examines whether they are covered by MiCAR.What are NFTs?NFTs are cryptographic records stored on a blockchain that are unique in that they are linked to a specific asset. They primarily serve as the electronic "embodiment" of mainly digital, but also physical...

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  06.11.2023

  International

  Delay claims under the FIDIC form: Obrascon challenged

  A recent decision of the Court of Appeal of the Dubai International Financial Centre has adopted a stricter interpretation of the requirements for notifying delay claims under the FIDIC form, disagreeing with earlier caselaw from the English courts. A failure to notify claims on time results in a loss of entitlement under the FIDIC form. The Court of Appeal decision will therefore be of great importance to those dealing with extension of time claims under the FIDIC form. Claims notification under FIDIC and the rule in Obrascon Clause 20.1 of the FIDIC 1st Edition contracts (clause 20.2 in the 2nd...

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  03.11.2023

  China

  China Tax Regulation Update - September & October 2023

  03/11/2023The latest development in China Tax Regulation mainly includes:Announcement [2023] No. 43 jointly released by the Ministry of Finance (“MOF”) and the State Administration of Taxation (“SAT”)Announcement [2023] No. 44 jointly released by the MOF, the SAT, the National Development and Reform Commission (“NDRC”) and the Ministry of Industry and Information Technology (“MIIT”)Please click here to read the full article.

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