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2026-08-20From "Formal Compliance" to "Substantive Compliance" – A Shift in Regulatory FocusAgainst a backdrop of geopolitical volatility and fiscal pressure, "substance over form" and "reasonable commercial purpose" have become core principles across tax, accounting and legal regulation. This article traces their historical
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2026-08-20Outbound Investment Series | State Council Decree No. 837 Takes Effect – A Compliance Guide for Technology Transfer in Overseas InvestmentsOn 1 July 2026, the State Council Decree No. 837 (hereinafter "Decree No. 837" or the "Regulations") on outbound investment officially took effect. Article 13 draws a clear red line: investors shall not export or use goods, technologie
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2026-08-20Outbound Investment Series | 1 August Take Effect! Thailand DBD Order No. 2/2569 Brings New Substantive Control Rules – Nominee Shareholding Loopholes for Chinese Investors Are ClosingOn 1 August 2026, Thailand's Department of Business Development (DBD) issued Order No. 2/2569, marking a fundamental shift in foreign investment regulation—from documentary compliance to substantive control and economic substance review. Previously, DBD
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2026-07-02New Policy Focus | An Analysis of the Action Plan for Consolidating, Stabilizing and Optimizing Foreign Investment UtilizationRecently, the Ministry of Commerce (MOFCOM), together with the National Development and Reform Commission (NDRC) and the Ministry of Finance, jointly issued the Action Plan for Consolidating, Stabilizing and Optimizing Foreign Investment Utilization(herei
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2026-06-11Breaking! Effective July 1 – In-depth Interpretation of the State Council's New Overseas Investment Regulations | Series III: After the New Regulations, Which Key Issues Remain Unresolved?The Regulations of the State Council on Outbound Investment(State Council Order No. 837, hereinafter "Order No. 837"), officially announced on June 1, 2026, represents a landmark piece of top-level legislation in the history of China's outbound
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2026-06-11Interpretation of the State Council's New Outbound Investment Regulations (Order No. 837): Five Core Dimensions of Regulatory Upgrade Introduction
On July 1, 2026, the Regulations of the State Council on Outbound Investment(State Council Order No. 837, hereinafter referred to as the "Order No. 837") will officially come into force. Following its release, a key question for market particip
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2026-06-11Breaking! Effective July 1 – In-depth Interpretation of the State Council's New Overseas Investment Regulations | Series I: Full Article Clause-by-Clause Interpretation
This article is compiled based on the full text of the "Regulations of the State Council on Outbound Investment" (State Council Order No. 837) published on the Chinese government website on June 1, 2026, effective from July 1, 2026. The followin
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2026-05-28From "Data Traffic" to "Token": How AI Is Becoming a Utility Like Water and Electricity
Over the past decade, the fundamental unit of measurement for the digital economy was "data traffic."Now, in the AI era, a new unit is entering the everyday vocabulary of businesses and individual users: the Token. In Chinese, it has been offici
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2026-05-16Accelerating the Opening-up of the Service Sector: China's High-Level Opening-up as Seen Through Shanghai's Experience
At a recent press briefing held in Shanghai on the expansion of high-level opening-up, relevant officials from the Shanghai municipal government stated that openness is Shanghai’s greatest strength. In accordance with central government directives and wit
