China Legal Blog
Aggregated China Law Information

The total assets under management (AUM) of the Asia-Pacific exchange-traded fund (ETF) space hardly budged in the first four months of 2014, staying at around US$170 billion, according to an announcement by financial research firm Cerulli Associates. A US$2.7 billion gain in ETF AUM in Japan in the January to April period was offset by […]

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Sino-French private equity firm Cathay Capital says it has reached a first closing of 460 million euros (US$628 million) for its new investment vehicle, according to a company announcement. Cathay Midcap Growth Fund III is targeting to raise a total of 500 million euros (US$682.5 million), after being launched in March. The fund is backed […]

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China's National Social Security Fund (NSSF) recorded investment income of RMB68.59 billion (US$11 billion) in 2013, realizing an investment return of 6.2% for the year, slightly down from 7.01% in 2012, according to an annual report released by the National Council for Social Security Fund. Income from stock markets stood at RMB20.56 billion, with an […]

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In this episode of China Money Podcast, guest Steven P. Feldman, professor of business ethics at Case Western Reserve University in Cleveland, Ohio, talks to our host Nina Xiang about the latest revelation of a sex tape with the investigation of British drug-maker GlaxoSmithKline in China, the danger of electronic eavesdropping while doing business in […]

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IDG Capital is to fully exit its stakes in Chinese healthcare portal 39.net via a strategic sale. A Chinese software developer, Shenzhen-listed Longmaster Information & Technology Co., Ltd. has agreed to acquire 100% of Guangzhou Qisheng Information Technology Limited, which operates 39.net, for a total of RMB650 million (US$105 million), according to a regulatory filing submitted […]

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Shanghai-based Chinese online movie ticket booking website Gewara has received RMB200 million (US$32.2 million) from China Media Capital in series C+ financing, according to Chinese news reports. The company will use the proceeds to improve its services, as well as expanding its business to more cities in China. Established in 2008, Gewara received US$20 million […]

Visit ChinaMoneyNetwork.com for more daily finance news, including audio and video Internet podcasts covering important investment news and financial events in China. Follow us on Twitter @chinamoneypod subscribe to all episodes on iTunes.

Customs officers have arrested a truck driver after finding over a million illicit cigarettes in his vehicle in Kwun Tong today.

 

The cigarettes have an estimated market value of $2.8 million and a duty potential of $2.1 million.

 

The 49-year-old driver has been detained for questioning.

 

Call 2545 6182 to report illicit cigarette activities.

Police have arrested 511 people for illegally occupying Chater Road and blocking traffic this morning.

 

The protesters stayed on the road after a public meeting concluded yesterday, refusing to leave after repeated advice and warnings from Police.

 

Secretary for Security TK Lai told reporters the protest affected more than 30 bus and minibus routes, and Police arrested the protesters to restore order and traffic flow.

 

The 351 men and 160 women were arrested for unauthorised assembly and obstructing Police.

 

Mr Lai commended Police for their restraint and professionalism in removing the protesters.

 

He reiterated that the Government respects free expression, but law-enforcement agencies will take action when the law is breached.

There is strong public support for the RESCUE drug testing scheme, Action Committee Against Narcotics Chairman Prof Daniel Shek said today, adding the Government should continue to engage relevant parties and work out specifics.

 

Briefing reporters on the conclusions and recommendations of a recent public consultation on the scheme, Prof Shek said the committee afterwards commissioned Hong Kong University’s Public Opinion Programme to conduct an opinion poll on the scheme.

 

More than 90% of opinion poll respondents supported it, and 61% believed it would be effective in identifying drug abusers at an early stage and referring them to treatment.

 

During the four-month consultation period, the committee received about 2,800 submissions, with about 45% in support of the scheme and 54% opposed, he added.

 

Supporters noted that the scheme intended to help drug abusers and would be an effective early intervention, while opponents were concerned about  human rights infringement and possible abuse by law-enforcement officers, Prof Shek said.

 

The committee recommended the Government roll out proposals for operational details in a second-stage public consultation as soon as practicable, and examine ways to minimise concerns over human rights infringement and civil liberties.

 

The Narcotics Division agreed with the committee’s conclusion and recommendations, and said it will consider and address public views in formulating the scheme's specific proposals.

 

The division will work with the committee to dispel fears and build understanding through research, pilot projects and overseas experts' experience sharing.

I've been asked to post a note about this upcoming conference and am pleased to do so. It's July 10-11. Click here for more information.

Stanley Lubman has a column today in the…

In a Newtonian reaction to the action of the Big 4 I blogged about yesterday, an ad purporting to be from empl9yees of the Big 4 has appeared in Hong Kong. It says, "Boss, your statement does not represent our…