On January 17, Chuck Peng, Head of China Practice, participated in the online discussion of the “Introduction to China's Legal System” program at the National Research University Higher School of Economics.
The event attracted a wide range of participants, including senior executives and lawyers from various industries, who shared a deep interest in understanding the nuances of Chinese law and its practical application.
During his presentation, Chuck focused on recent legal developments regarding the corporate governance framework and contractual processes under the recently revised Chinese Company Law. He detailed how the new regulations adjust corporate governance requirements, clarify stakeholder rights and obligations, and standardize contractual practices to meet both domestic market needs and international norms.
Particular attention was paid to the choice of organizational and legal forms for doing business in light of the new law, as well as to clarifying the powers and mechanisms of interaction of corporate governance bodies. Chuck also elaborated on topics such as legal representation of companies, co-signing procedures and formalization of corporate decisions to help participants understand the updated compliance requirements.
During the discussion, Chuck elaborated with the attendees on their questions:
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how to make sure a document is properly signed by a Chinese company under the new law;
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scope and protection of powers in Chinese law (including in cross-border transactions);
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corporate rules and risk control points for companies with a sole director and no board of directors (permitted under the new version of the law).
Chuck provided detailed answers based on practical examples, breaking down complex legal concepts into easy-to-understand recommendations.
The discussion provided an effective platform for solving practical problems, gave a deeper understanding of the peculiarities and recent developments in Chinese corporate law, and facilitated knowledge sharing among participants, helping them to better navigate legal risks and optimize business strategies in the Chinese market.
