China’s new foreign investment law to promote antitrust and data protection

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Victor Shen, Chief legal counsel of Henkel Greater China and Korea

Transcripts:

What do you see as the hot issues in China right now?

I think the hottest topic is China’s newly promulgated foreign investment law. I want to say that overall, this is a very encouraging legislation development because it promotes a lot of basic regulations and rules. And all of these rules are very favorable. So, the purposes are promoting foreign direct investment in China and to grant a very effective legal protection for foreign direct investment. All of these are very encouraging.

And the third is about the regulatory landscape. I want to say that the latest hot topic includes anti-trust enforcement which has been hot for several years. And our new hot topic is about data security and protection of personal data. I would expect that data security and protection of our personal data will continue to be hot through the digitization of the commercial business activities within China and beyond China.

Tell us about your legal team and its focus

Currently, I am coworking with eight-member team and among my team, five of them are legal counsels in charge of different strategic business units and in different functions. And also, on top of that, we have two IP counsels because we have a very proactive IP activities in China.

And I want to say that currently, my team is mainly focusing on two aspects. The first aspect is about M&A, divestiture, and restructuring which is a very prominent part of our daily job. And the second part is about our daily housekeeping work which includes contract management and daily legal consulting as well compliance and also legal training.

What is your opinion of CBLJ forum?

Overall this is a very good forum for the following reasons; first, the topics. This forum is focusing on the most important and the latest ones in China’s jurisdiction. And also, I want to say thanks to China Business Law Journal’s wide networking. It involved a very diversified workforce, not only including the leading local law firms, but also leading arbitration institutions and also top tier in-house legal. So, I think by such diversification, this forum will bring the attendees a lot of takeaway and learnings.

The opinions expressed by the interviewees are their own and not those of their companies. To watch the interview videos, please visit https://www.vantageasia.com/tv/. See the full interview and our coverage on CBLJ Forum 2019 here