w88 casino News Network (provided by the Law w88 casino)Recently, w88 casino’s Huiyuan Foreign-related Legal Practice Salon was successfully held in Conference Room 729 of Ningyuan Building. The theme of this salon is "The First Case of the EU's Foreign Subsidies Regulation and its Enlightenment to China". Lawyers Liu Cheng and Su Chang, partners of King & Wood Mallesons, were invited as keynote speakers. Professor Li Siqi from the China Institute of World w88 Organization and Professor Zhang Wei from the Foreign Rule of Law Institute of w88 casino were invited as panellists. Professor Feng Hui, Dean of the w88 casino of Law, met with Lawyer Liu and Lawyer Su and extended a warm welcome to Lawyer Liu and Lawyer Su for their visit to the Law w88 casino of the University of w88 and Economics. He also expressed his sincere gratitude to the two lawyers for helping teachers and students of w88 casino understand the latest cutting-edge issues related to foreign-related rule of law and promoting the cultivation of foreign-related rule of law talents in w88 casino.
This salon was hosted by Professor Chen Weidong, deputy director of the Institute of Foreign-related Rule of Law, a national-level foreign-related rule of law research base in w88 casino. Associate Professor Gong Hongliu, deputy dean of the Law w88 casino, and assistant researchers Shang Bowen, Sun Jiaxun and Yang Weiming of the Institute of Foreign Law and Rule of Law participated in the whole discussion.
Lawyer Liu Cheng first sorted out the basic facts of the case of Etisalat’s acquisition of Dutch PPF Telecom Group. On this basis, Lawyer Liu made an in-depth analysis of the institutional characteristics of the EU’s Foreign Subsidies Regulation (FSR) from a practical perspective. He believes that FSR presents the characteristics of "anti-monopoly style" strong authorization and wide scope in terms of procedural authority, information requirements, surprise inspections, fines and presumption mechanisms, flexible investigation period, and significant scope extension. It is less clear than the procedural certainty and scope boundaries of traditional w88 remedies.
Lawyer Su Chang further added based on WTO-related legal practice and shared the practical experience of Chinese companies in responding to FSR investigations, including relief channels at the European Court of Justice level.
Li Siqi pointed out three major problems that China faces in responding to countervailing investigations: First, broad attribution of government actions leads to an expansion of the scope of subsidy identification; second, the inversion of the burden of proof increases the pressure on companies to respond to lawsuits. The EU requires companies to self-certify that subsidies are justified when conducting a "balanced test" in foreign subsidy investigations. "Positive impact", but lacks a unified and clear evaluation indicator system. We can learn from the subsidy notification exemption situation under the EU state aid system to help companies build a universal positive impact indicator framework and carry out training guidelines; third, the assessment of the distortionary effect of subsidies lacks unified and standardized economic guidance, and has certain discretion in practice. In addition, attention needs to be paid to the trend of international subsidy regulations shifting from multilateral rules to regional agreements and unilateral legislation. The EU's unilateral countervailing practices may evolve into systemic practices, have a "Brussels" effect, and be imitated by other countries, leading to the risk of rule spillover.
Zhang Wei discussed the response plans of Chinese enterprises and the adjustment direction of relevant legal systems from both procedural and substantive levels. At the procedural level, regarding the information rights enjoyed by the European Commission, China should prepare subsidy-related information and data in advance and actively defend itself to prove the positive impact that subsidies may bring. At the entity level, in response to the European Commission’s discretion in defining foreign subsidies and identifying market distortions, China should deepen the reform of state-owned enterprises, promote the establishment of a fair competition review system, and reduce the risk of Chinese companies being reviewed.
Huiyuan Foreign-Related Legal Practice Salon is hosted by the w88 casino of Law and the Foreign-Related Rule of Law Research Institute, aiming to create a practical experience sharing platform with distinctive characteristics of the International w88 casino. The salon regularly invites well-known lawyers, judges and other experts from practical departments to conduct in-depth interpretations of the facts and legal issues of a certain case or type of cases in the foreign-related field, helping faculty and students in w88 to gain an in-depth understanding of the latest developments in international economic and w88 rules, and assisting w88 casino in cultivating foreign-related legal talents with high standards.(Writers: Yue Yangyi, Sha Tao; Reviewers: Li Huanhuan, Chen Weidong)
