fodrch3.html
ORDRE DES AVOCATS
DE PARIS
FORMATION EN DROIT CHINOIS
sous l'égide de
l'Association
Franco-Chinoise pour le Droit Economique
LA REGULATION DES FLUX FINANCIERS
AVEC
LA REPUBLIQUE POPULAIRE DE CHINE
par
Daniel
Arthur Laprès
Avocat au Barreau de Paris
Barrister & Solicitor (Nova Scotia Canada)
Of counsel to Kunlun
Law Firm, Beijing, China
Paris, le 5 avril 2008
TABLE DES MATIÈRES
La conférence
Les sources
Encadrement des investissements
en portefeuille par les étrangers
QFII
State-shares
Les investissements stratégiques
par les étrangers
Encadrement juridique
de la levée de fonds à l'étranger par les sociétés
chinoises
B shares
H shares
Encadrement des investissements
chinois à l'étranger
Investissements directs
Round trips
Foreign investment by insurance
companies
Foreign projects
Qualified Domestic Institutional
Investors (QDIIs)
Opening of Hong Kong capital markets
to Chinese investors
Les risques juridiques
dans les relations financières avec la RPC
Les aspects financiers
Le droit pénal
Tableaux de bord
Macroéconomie chinoise au plan international
Commerce extérieur de la RPC - OMC
Finance internationale de la RPC
FMI,
page index concernant la Chine
NEWS/ACTUALITÉS
au 5 avril 2008
Archives
March
31, 2008
February
5, 2008
January
8, 2008
October
22, 2007
September
20, 2007
Investissements chinois à l'étranger
Bank of China 2nd-Half Profit Growth Curbed by Subprime Loss (Bloomberg), by Luo Jun and Chia-peck Wong, March 25 (Bloomberg)
China rising: Its private firms set sights on rest of world (IHT) The Associated Press,March 16, 2008
Ping An in $ 2bn deal with Fortis, (FT) by Sarah Laitner in Brussels and Jamil Anderlini in Beijing, March 19 2008
Citic investors' sigh of relief at avoiding a Bear hug (FT) by Jamil Anderlini, Andrew Hill and Paul Betts, March 17 2008
China's champions (FT) by Geoff Dyer and Richard McGregor, March 17 2008
China signals it could ease share curbs (FT) by Jamil Anderlini, March 6 2008
Just what is in China's portfolio? And do foreign central banks think Agencies are treasuries? Brad Sester, RGE Monitor, March 12, 2007
China's
overseas investment totals $ 5.5 billion in 2004, People's Daily Online,
September 2, 2005
Le marché boursier chinois
China Stocks Set for Worst Quarterly Drop; Vanke, Baoshan Fall (Bloomberg) by Zhang Shidong, March 31
View of the day: Chinese investors more choosy (FT) by Jing Ulrich, March 10 2008
China May Allow Short Selling This Year, Securities News Says (Bloomberg)by Zhao Yidi, March 4 (Bloomberg)
Statistiques concernant le marché boursier chinois 1995-2004
China
stocks close at record high, People's daily online, March 28, 2007
Le marché étranger pour les valeurs chinoises
Hang Seng's China Enterprise Index (H-shares)
Investors hanker no more for HK and China IPOs (FT) by Andrew Wood and Justine Lau in Hong Kong, March 27 2008
ExxonMobil redevient la première entreprise mondiale en Bourse (les Echos) 26/03/08
Une société chinoise rouvre les introductions sur Alternext(les Echos), 25/03/08
China's Banks Duck Credit Crisis Mostly, (NYT) by The Associated Press
Large
China issues rouse fear of oversupply (FT), by Geoff Dyer, March 5,
2008
Le régime de change chinois
Pékin ne veut pas laisser s'apprécier sa devise (Le Monde) 31.03.08
Chinese exporters shun flagging dollar (FT) by Robin Kwong in Hong Kong, March 27 2008
China Sets Yuan Reference Rate at 7.1175 Against U.S. Dollar, by Kim Kyoungwha, March 4 (Bloomberg)
Les touristes chinois à l'assaut du monde, (le Figaro) 07/03/2008
Moins
d'excédents commerciaux en Chine, Le Monde 12.03.08
ENCADREMENT JURIDIQUE
Encadrement juridique de la levée de fonds à l'étranger par les sociétés chinoises
B shares
- B-Share Regulation, adopted at the 37th Executive Meeting of the State Council on November 2, 1995, and was promulgated by the State Council on December 25, 1995.
- Notice Regarding B-share Investment by Chinese Citizens allowing domestic individual investors to open B-share accounts and trade B shares in foreign currency issued by the China Securities Regulatory Commission (CSRC) on February 19, 2001.
H shares
-
Special Regulations concerning Issuing and Listing of Shares Overseas by
Companies, adopted at the 22nd Executive Meeting of the State Council on
July 4, 1994, promulgated by the State Council on August 4, 1994 and effective
as of the date of promulgation.
Encadrement des investissements par les étrangers sur les marchés financiers chinois
QFII
- Measures for the Administration of Investment in Domestic Securities by Qualified Foreign Institutional Investors, jointly adopted by the CSRC, the PBOC, the SAFE on.
- Circular on Implementing the Administrative Measures for Securities Investment in the Territory of Qualified Foreign Institutional Investors, issued by the CSRC on August 24, 2006.
- Amendment to the Provisions on the Establishment of Investment Companies by Foreign Investors of November 13, 2004 thereafter)
State-shares
- Notice Regarding the Transfer of State Shares and Legal Person Shares of Listed Companies to Foreign Parties jointly issued by the CSRC, the MOFCOM and the State Economic and Trade Commission (SETC) effective from November 4, 2002.
- Tentative Provisions on the Use of Foreign Investment to Restructure State Owned Enterprises jointly issued by the SETC, the MOFCOM, the State Administration for Industry and Commerce (SAIC), and the SAFE, to be effective from January 1, 2003.
Investments by foreigners in Chinese companies
- Measures for Strategic Investments by Foreign Investors in Listed Companies, issued jointly by the MOFCOM, the CSRC, the SAT, the SAIC and the SAFE on December 30, 2005.
- The Interim Provisions on the Takeover of Domestic Enterprises by Foreign Investors adopted by the MOFCOM promulgated with effect as of September 8, 2006)
Encadrement des investissements chinois à l'étranger
Investissements directs
- Circular on Foreign Exchange Policy Adjusting on Some Overseas Investment, issued by the SAFE on July 1, 2006.
- Interim Measures for the Administration of Examination and Approval of the Overseas Investment Projects, issued by the NDRC promulgated on October 9, 2004.
Round trips
- Notice Regarding Certain Issues relating to Foreign Exchange Administration of Equity Financings and Return Investments by Domestic Residents through Offshore Special Purpose Vehicles, issued by the SAFE on October 21, 2005 which entered into effect on November 1, 2005.
Foreign investment by insurance companies
- Temporary measures on overseas use of foreign exchange insurance funds issued jointly by the China Insurance regulatory Commission (CIRC) and the China Banking Regulatory Commission on August 9, 2004 with immediate effect.
Foreign projects
- Temporary Procedures for the Administration of Project Financing Conducted Outside China were promulgated by the NDRC and the SAFE effective as of April 16, 1997.
Qualified Domestic Institutional Investors (QDIIs)
- Trial Measures for the Administration of Securities Investment Outside the Territory of China by Qualified Domestic Institutional Investors, promulgated by the CSRC on June 18, 2007 and effective as of July 5, 2007.
-
Circular of the CSRC on Issues Concerning the Implementation of Trial Measures
for the Administration of Overseas Securities Investments of Qualified
Domestic Institutional Investors, N° 81, effective as July 5, 2007.
Opening of the HK market to Chinese investors
Le 21 août 2007 la SAFE a annoncé
que les chinois auront la possibilité d'ouvrir des comptes auprès
des succursales de la Bank of China pour faire des échanges sur
les bourses à Hong Kong. Pourtant les mesures ne sont encore pas
entrées en vigueur.
LES RISQUES JURIDIQUES DANS LES RELATIONS FINANCIERES AVEC LA CHINE
Les aspects financiers
L'article VIII
des
Statuts du Fonds Monétaire International
L'audit juridique
Le droit pénal
Le
risque pénal dans les relations d'affaires avec la République
Populaire de Chine
Coopération
franco-chinoise en matière de coopération et de sécurité
Le
Système financier face aux défis de la transition Christian
Aubin, Jean-Pierre Berdot, Daniel Goyeau et Jacques Leonard
Types of Mergers and Acquisitions of Domestic Enterprises by Foreign Investors in China by Xiaomin Sun
Development and Problems in China's Financial System by Ya Hwei Yang
China's
Financial Markets, An Insider's Guide to How the Markets Work by Liu
Lisheng
External
Liberalization and the Evolution of China's Exchange System: an Empirical
Approach by Min Zhao
PUBLICATIONS DE DANIEL LAPRES CONCERNANT LA CHINE
Business Law in China: Trade, Finance, and Investment
Actualités du commerce électronique en Chine
La gouvernance des entreprises en Chine
Le
droit du commerce électronique en République Populaire de
Chine
(text
in Chinese)
The EU_China WTO Agreement Compared with the US-China Agreement
Legal Dos and Don'ts of Web Use in China
Réglementation
des nouveaux marchés financiers
Cabinet d'avocats
Section 1. Introduction
Outre les obligations assumées en vertu d'autres dispositions des présents Statuts, chaque état membre s'engage à respecter les obligations énoncées au présent article.
Section 2. Non-recours aux restrictions sur les paiements courants
a) Sous réserve des dispositions de la section 3, paragraphe b), de l'article VII et de la section 2 de l'article XIV, aucun àtat membre n'impose, sans l'approbation du Fonds, de restrictions à la réalisation des paiements et transferts afférents à des transactions internationales courantes.
b) Les contrats de change qui mettent en jeu la monnaie d'un état membre et sont contraires à la réglementation du contrôle des changes de cet état membre maintenue ou imposée conformément aux présents Statuts ne sont exécutoires sur les territoires d'aucun état membre. En outre, les états membres peuvent, par accord mutuel, coopérer à des mesures destinées à rendre plus efficace la réglementation du contrôle des changes de l'un d'eux, à condition que lesdites mesures et réglementations soient conformes aux présents Statuts.