Trade Blog

Trade Blog

Hong Kong Stock Exchange Proposes to Restrict “Backdoor Listings” and Shell Activities

On June 29, 2018, the Hong Kong Stock Exchange (the “Exchange”) published a consultation paper (the “Consultation Paper”) on backdoor listing, continuing listing criteria and other rule amendments[1], which contained proposals to amend the Rules of the Exchange (the “Rules”) in order to prevent such activities. Separately, the Exchange published a guidance letter on listed issuer’s suitability for continued listing

CKR Law LLP Announces Formation of China International Trade Policies Task Force

CKR Law LLP recently announced the formation of its China International Trade Policies Task Force. This task force enables the law firm to assist the Chinese legal industry to efficiently and effectively address the numerous intricate international trade and tariff related client matters primarily involving China and the United States (U.S.).

US PROPOSES NEW TARIFFS ON CHINA AHEAD OF FURTHER TRADE TALKS

On May 17 and 18, 2018, a Chinese delegation led by State Council Vice Premier Liu He met with its U.S. counterpart in Washington D.C. and reached a broad consensus to reduce the U.S. trade deficit with China. Currently, the trade deficit stands at almost 4 to 1.

U.S. Imposes Unprecedented Russia Sanctions

On April 6, 2018, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced new sanctions against Russia by adding seven Russian oligarchs and 12 companies they own or control, 17 senior Russian government officials, the primary state-owned Russian weapons trading company and its subsidiary, a Russian bank, to its list of Specially Designated Nationals and Blocked Persons List (“SDN List”).

President Trump Announces Withdrawal from Iran Nuclear Deal

On May 8, 2018, President Trump terminated the U.S.’s participation in the Joint Comprehensive Plan of Action (“JCPOA”) with Iran and will begin re-imposing, following a wind-down period, the U.S. nuclear-related sanctions lifted under the JCPOA.