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Good Wind Brings Me to Qingyun: Discussion on Legal Compliance and Other Key Points of New Energy REITS
2023 03/16Author:Xian YuREITs products have been brewing in China for nearly 20 years. Ten years ago, when the author discussed the REITs he had served with the industry elites in the infrastructure field who worked at the Red Circle Institute at that time, he exclaimed, "Without the tax policy and related supporting support for the balance sheet, what I did was actually only REITs.". However, ten years later, a strong wind blew in: In April 2020, the National Development and Reform Commission and the Securities Regulatory Commission issued the "Notice on Promoting the Pilot Work of Real Estate Investment Trusts (REITs) in the Infrastructure Sector" and the "Guidelines for Public Offering of Infrastructure Securities Investment Funds (Trial Implementation)" (hereinafter referred to as the "Guidelines for Infrastructure Funds"), marking the final implementation of relevant policies for REITs. After more than a year of deliberation, in July 2021, the first batch of 9 publicly offered REITs funds received approval from the CSRC for listing, raising more than 31.4 billion yuan. Based on national conditions, the main goal of the first batch of REITs products is to effectively activate existing assets and stimulate new investment. Therefore, strict restrictions are imposed on pilot areas and industries, focusing on economic infrastructure areas such as warehousing and logistics, transportation facilities, municipal engineering, and other areas where government investment is large, business cycles are long, and it is relatively difficult to realize. Since then, the National Development and Reform Commission has issued the "Notice on Further Improving the Pilot Work of Real Estate Investment Trusts (REITs) in the Infrastructure Sector" to expand the scope of the pilot project from specific regions to the whole country, and also significantly expand the capacity in the industry, including energy infrastructure such as wind power and photovoltaic. At the end of December 2022, both AVIC Jingneng Photovoltaic REITs and CITIC Construction Investment National Power Investment Offshore Wind Power REITs products had received unanimous approval letters from the Shanghai Stock Exchange, and a breakthrough in new energy REITs was imminent, triggering widespread attention in the industry. -
"Burial" 377 boxes of financial information hinder law enforcement. Who is the winner behind the A-share version of "Rage"?
2023 03/09Author:Sun Jiaqi"The public security department found buried accounting original documents, production and operation data on the barren slope of the factory area." "A total of 377 boxes (50cm plastic turnover boxes) were excavated." × 40cm × "The pit for excavating and burying accounting documents is about 9 meters long, about 5 meters wide, and about 5 meters deep." "Most of the documents are directly exposed and buried without packaging, and the numbers on most documents are fuzzy and unrecognizable." " -
The US government has added 28 Chinese enterprises to the entity list
2023 03/08Author:Qin WenjieIn the early morning of March 3, 2023 Beijing time, the Bureau of Industry and Security (BIS) of the United States Department of Commerce included 28 Chinese enterprises and individuals such as Dragon Core Technology and Inspur Group in the Entity List, limiting their access to relevant products and technologies from the United States. BIS believes that these enterprises and individuals pose a threat to the national security and foreign policy interests of the United States, and therefore must obtain permission from BIS before selling controlled items and technologies originating in the United States to them. -
Should the death penalty be retained—— From the case of Cai Tianfeng
2023 03/03Author:Zhu TingRecently, the case of Hong Kong celebrity Cai Tianfeng who was premeditated to be killed, dismembered, and cooked and dumped shocked the entire society. It is reported that Cai Tianfeng's ex husband, parents, and brother, who are suspected of committing such a shocking crime, have been arrested by the Hong Kong police. On February 27, the four people were brought before the Kowloon City Court in Hong Kong (to appear before the court). Kuang's three sons were charged with murder, and Kuang's mother was charged with obstructing justice. The magistrate postponed the case to May 8 for questioning, and did not allow the four people to be released on bail. -
How to Say No to Cyber Defamation?
2023 03/03Author:GUO Jinhui 、Yao LijunIn recent years, a number of online defamation cases have aroused widespread concern in society, including the "defamation case of a woman taking delivery of a courier", which has been named by the Supreme People's Procuratorate and has become a typical case. The victim of the case, Gu Moumou, was secretly filming a video by a stranger, Lang Moumou. Later, Lang Moumou and He Moumou jointly slandered Gu Moumou as a "derailed courier". The two people faked the identities of Gu Moumou and the courier and fabricated chat records, and forwarded the fabricated chat records and the secretly captured video to WeChat group. Later, these contents were spread to many WeChat groups and WeChat official account, causing a large number of clicks, reading and vulgar comments, causing hot online discussions. The victim, Gu Moumou, suffered a lot of abuse and bad reviews as a result, became depressed and was tactfully persuaded to quit by the company. Gu Moumou couldn't bear the humiliation and reported the case to the public security organ, which took administrative detention measures against the online defamation perpetrators Lang Moumou and He Moumou. However, even after being detained administratively, Lang and He refused to repent and apologize to the victim Gu. In order to argue for a statement, Gu Moumou filed a criminal private prosecution with the Yuhang District People's Court of Hangzhou City, requesting that the two persons be held criminally responsible for their actions, which constituted a crime of libel. After the court accepted the criminal private prosecution filed by Gu, the Yuhang District People's Procuratorate of Hangzhou City recommended that the Yuhang Branch of the Hangzhou Public Security Bureau file a case for investigation of Lang and He suspected of defamation. Subsequently, the Yuhang District Procuratorate filed a public prosecution with the court on the grounds that the actions of Lang and He were suspected of constituting a crime of defamation. This case was converted from a private prosecution case to a public prosecution case. After the court heard the case, it was finally judged that the actions of Lang and He constituted a crime of defamation. The two persons were sentenced to one year's imprisonment and two years' probation. The victim Gu finally waited for justice. -
Tax treatment of valuation adjustment after gambling failure
2023 02/23Author:Jia MengmengGambling agreements are also known as valuation adjustment agreements. "An agreement designed by investors and financiers to address the uncertainty of the future development of the target company when they reach an investment and financing agreement, which includes equity buybacks, monetary compensation, and other adjustments to the valuation of the future target company.". However, when equity buybacks and monetary compensation occur, there is currently no legal document specifying how to make tax treatment, and in practice, the treatment methods of local tax authorities vary. -
The legal relationship between the network anchor and the "signing platform"
2023 02/22Author:Peng MeiyangIn recent years, the online live streaming industry has developed rapidly, with the number of live streaming platforms, online anchors, and viewers showing a blowout growth. What legal relationships exist between individual anchors and the platforms they sign up for have also attracted increasing attention. -
Why is it difficult to hold a second instance of a criminal case? How to strive for a court session?
2023 02/13Author:Sun JiaqiThe difficulty of holding a second instance trial in criminal cases has always been a pain point for criminal defense lawyers. According to research data, the criminal second instance hearing rate of intermediate people's courts is less than 15%, and some even less than 7%. The second instance hearing rate of higher people's courts has slightly increased, reaching 25% to 33%. However, the death penalty and death sentence suspension cases that should be tried in court account for a large proportion of them. "And the vast majority of cases that are not tried in court will maintain the original judgment. This sense of loss that has been frustrated without showing the sword makes criminal defense lawyers both helpless and powerless, and also makes some lawyers shy away from criminal second instance cases.". Therefore, seeking a court hearing has become a phased goal of the second instance defense. -
Overseas Capital Markets Series | Listing in Switzerland
2023 02/10Author:Xian YuAt the 2015 Sino UK Economic and Financial Dialogue, the Chinese and British governments announced the launch of a feasibility study of the Shanghai Luntong mechanism. Since then, the curtain has opened for Chinese companies to go to the London Exchange to raise funds. In 2018, relevant regulations of the Shanghai Luntong Stock Exchange were introduced, formally establishing a mechanism for mutual issuance of depositary receipts between the Shanghai Stock Exchange and the London Stock Exchange. In 2019, the first GDR issued by an A-share listed company under the Shanghai Luntong mechanism was listed on the London Stock Exchange. In 2021, the CSRC solicited opinions on the new regulations of the China Europe Link mechanism and expanded and optimized the capacity of Shanghai Luntong. In 2022, China Securities Regulatory Commission (CSRC) issued new regulations on the China Europe Link mechanism, which included Germany and Switzerland into the scope of application of the interconnection and exchange of depository receipts business between domestic and foreign stock exchanges. At the same time, the Shanghai and Shenzhen Stock Exchange also issued relevant supporting rules.