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China is implementing a flurry of regulations to manage its non-performing loan (NPL) crisis. The IMF estimates the country's non-financial sector debt will exceed 290% of GDP by 2022, up from 235% in 2016. According to one of the country's four national state-owned asset management companies China Orient Asset Management, NPLs reached RMB1.7 trillion ($270 billion) at the end of 2017 and are expected not to stop growing until 2019 at the earliest. The emergence of zombie banks lending to zombie companies has exacerbated the problem.

Colin Raftery, director of mergers at the CMA, discusses policy developments, priorities and Brexit

Switzerland has long established itself as an attractive base for cutting-edge technological innovators, notably in the financial sector and related areas. Among other factors, this development has been supported by the Swiss legal and regulatory landscape. Swiss financial regulation in particular is characteristically principle-based rather than rule-based, allowing it to cope well with new, original business models. Furthermore, the Swiss authorities are welcoming of innovation reinforcing Switzerland's position as a successful financial marketplace.

Katten Muchin Rosenman has opened a new office in Dallas. Leading the new operation will be six new corporate partners, all formerly with law firm Andrews Kurth Kenyon.

The Cyprus Securities and Exchange Commission (CySEC) has issued a notification to entities it regulates and to participants in the market in general of the consultation process regarding a proposed amendment of the EU prudential rules for investment firms.

The Eastern Economic Corridor (EEC), covering the Rayong, Chonburi, and Chachoengsao provinces, is part of the Thai government's Area-Based Development Policy and is intended to implement the Thailand 4.0 policy. The goal is to make the EEC ASEAN's leading centre for trade, investment, and logistics. To achieve this, the Board of Investment (BOI), established under the Investment Promotion Act (1977), encourages both foreign and domestic investment through tax and non-tax incentives. The EEC Bill was approved by the NLA on February 14 2018 and will soon be enacted as an Act.

On January 15 2018, the Vietnamese government issued Decree 09/2018/ND-CP which came into force on the same day. Decree 09/2018/ND-CP replaced Decree 23/2007/ND-CP in governing trading goods and other directly related activities by foreign investors and foreign-invested companies in Vietnam. Decree 09/2018/ND-CP sheds light on some issues which were not clear under Decree 23/2007/ND-CP, but on the other hand raises doubts on others. There are five takeaways affecting the retail business sector.

Caroline Jury Eduardo Fiordiliso In Egypt, Gide Loyrette Nouel became the first French law firm with a presence in the country after launching in the capital, Cairo. Senior partner Baudouin de Moucheron will lead the new branch.

For the past two decades, technology has permeated the financial services market. Developing countries such as Costa Rica and its neighbours are being favoured by these emerging fintech startups. Entrepreneurs are focusing on developing financial tech tools in areas such as lending, payments, alternative scoring, data management, digital banking, personal finance management and crowfunding in order to offer a varied and accessible range of services for different market segments.

Richard Hawkins Prakash Segaran In Australia HWL Ebsworth Lawyers and TressCox Lawyers announced their merger in January. The bulk of TressCox's lawyers will be joining HWL under the plan. Elsewhere Jones Day opened its fourth office in Australia in Melbourne. Three partners will relocate to head up the operation.