The European Chamber is pleased to invite you to a working group meeting on the revised Company Law. Please join us at the European Chamber’s Shanghai office or online from 14:00-15:30 on Thursday, 22^nd February. Kai Kim, partner at Taylor Wessing’s China Group, will discuss the changes that FIEs must comply with as well as the new options that the law presents for companies.

The National People’s Congress Standing Committee (NPCSC) passed a significantly revised version of the Company Law on 29^th December 2023, which will enter into force on 1^st July 2024. This timing coincides closely with the expiration of a five-year grace period for foreign-invested companies to adjust to China’s Company Law by the beginning of 2025. This grace period began when the Foreign Investment Law (FIL) came into force on 1^st January 2020.

The revised Company Law presents several new requirements for businesses, including updates to capital contribution rules for limited liability companies (LLCs), new diligence requirements for management and supervisors, and the requirement of an employee representative on boards of directors of some companies. It also includes new options for companies, such as the ability of companies with a small number of shareholders or a small scale of business to have no supervisor, the option for an audit committee in lieu of a supervisory board or individual supervisors for LLCs and greater freedom to choose which personnel can serve as legal representative.

Tentative Agenda

13:45-14:00: Arrival and registration

14:00-14:15: Opening remarks by Legal and Competiton Working Group Vice Chair Michael Tan

14:15-15:00: Main presentation by Kai Kim: How FIEs Can Make the Best Use of China's Revised Company Law in 2024

15:00-15:30: Question and answer session

Speakers

Mr. Kai Kim

Partner, Taylor Wessing’s China Group

Mr. Kai Kim

Partner, Taylor Wessing’s China Group

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Kai Kim is a partner in Taylor Wessing’s China Group and a member of the firm's Corporate/Mergers & Acquisitions practice group. He advises on a broad scope of corporate and commercial law matters, ranging from the incorporation and operation of companies to cross-border M&A transactions, with a particular focus on China-related projects. He is recognised as a key lawyer for China M&A/Corporate in the Legal 500 Asia Pacific 2024.

Besides his legal career, Kai is a graduate in Sinology and is a visiting lecturer at his alma mater, Humboldt University of Berlin and the Free University of Berlin, where he regularly teaches Chinese law. Furthermore, he collaborates with several startup programs supporting foreign startups entering the Chinese market, such as serving as a mentor with the German Accelerator program.

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