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Comment: Review of Mingcha Zhegang, Huansheng IT joint venture rekindles VIE speculation in China

By MLex Staff ( April 29, 2020, 04:55 GMT | Comment) -- The proposed joint venture between Shanghai Mingcha Zhegang Management Consulting and Huansheng Information Technology (Shanghai) published for a simple-case review in China last week has sparked a new round of speculation about regulatory scrutiny of variable-interest entities, or VIEs. Lawyers who follow the work of the State Administration for Market Regulation point out that Mingcha Zhegang’s ownership and control arrangement is a typical VIE structure, prompting some to conclude that the regulator may now be willing to break with tradition and scrutinize transactions involving VIEs that include foreign-invested companies. The proposed joint venture between Shanghai Mingcha Zhegang Management Consulting and Huansheng Information Technology (Shanghai) published for a simple-case review in China last week has sparked a new round of speculation about regulatory scrutiny of variable-interest entities, or VIEs....

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