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Since the 1990s, all the financial institutions in China's loan market have determined their interest rate by floating up or down certain proportions of the benchmark interest rate announced by the People's Bank of China (PBOC Base Rate). Because the PBOC Base Rate is not closely aligned to the immediate supply-demand dynamics and also because it lacks a transparent pricing calculation formula, the PBOC Base Rate is generally considered as an administrative guidance price rather than a market-oriented price.

In Hong Kong SAR, PRC firm DeHeng Law Offices opened in cooperation with local firm Chungs Lawyers.

Panama and the UK have shared diplomatic ties since 1908. The US brought the highest amount of foreign direct investment (FDI) into Panama in 2018, with the UK coming in eighth position in the FDI stakes. The 2015 FDI figures saw the UK in fourth spot after the US, Colombia and Switzerland (with a total of 6% of FDI into Panama).

On January 22 2020 the instrument of ratification of the Multilateral Convention to Implement Tax Treaty Related Matters (MLI), and the Cyprus position on the minimum standards of the MLI and explanatory statement, were published in the Official Gazette of the Republic.

Loyens & Loeff associate Diana Lafita explains what portfolio managers need to know about the new requirements and how they fit into the existing regulatory framework

On November 26 2019, the National Assembly approved the Law on Securities 54/2019/QH14 (Securities Law 2019). This Law will replace the Law on Securities 70/2006/QH11, as amended in 2010, (Securities Law 2006) and will be effective from January 1 2021. In an attempt to improve the securities market, the Securities Law 2019 introduces, among other amendments, notable changes in relation to certain requirements for private placements of shares in public companies (Private Placement).

Paris-based DLA Piper lawyers explain what investors, digital asset providers and their advisors need to know

An amendment to the Commercial Code, introducing several important changes concerning the liquidation of companies, will come into force on October 1 2020. The amendment seeks to improve transparency in the business environment by taking aim at tax fraud as well as the deceptive practices associated with company liquidations.

The effective failure of Mercosur highlights a greater need for the continent to work together to establish peace, regulatory control and stability.

In late December, 2019, a new and consequential step toward fiscal transparency and accountability on par with international standards was decisively taken by the Government of the Macau Special Administrative Region with the approval of Law No. 21/2019, a revision of the Complementary Tax Law.