H&W Law Firm Group 宏威法律集团

Attending the first China CELAC Legal Forum in Shanghai! 🌏 Working Together for Prosperity: Sharing Opportunities between China and Latin America🤝. Ecuadorian lawyer and partner at H&W Law Firm, Luis Felipe Borja 博路斐律师, was invited to be a key speaker on the topic of "Legal Implications and Opportunities of the China-Ecuador Free Trade Agreement"

China-Ecuador FTA Opens a "Gateway of Opportunities" for High-Quality Ecuadorian Products Since the implementation of the China-Ecuador Free Trade Agreement (FTA) on May 1st of this year, Ecuador's exports to China have seen a remarkable surge, opening a "Gateway of Opportunities" for high-quality products such as pitaya, bananas, and shrimp. Data from the Chinese customs shows that from May to October, the bilateral trade volume was approximately $7.585 billion, a year-on-year increase of 8.43%, with China's import volume from Ecuador being about $4.407 billion, a year-on-year increase of 12.77%. Ecuadorian products like pitaya are highly favored in the Chinese market due to their superior quality, leading to a substantial rise in export volumes. This growth has facilitated closer alignment between local producers and the demands of the Chinese market, fostering increased collaboration to meet the rising export needs. The banana industry has also benefited from the FTA, with the Ecuadorian Banana Exporters Association noting that the agreement has streamlined access to the Chinese market for bananas and processed banana products alike. The President of the Latin American Chamber of Commerce in Shanghai (LAC+) highlighted that the FTA has invigorated Ecuador's exports to China. The rapid development of the Chinese market has driven Ecuadorian producers to pursue higher product standards, contributing positively to the domestic industry's growth. Moreover, the opening of the Chancay Port in Peru presents new growth opportunities for Sino-South American trade, potentially significantly reducing the transit time for Ecuadorian goods to reach China. This development is expected to synergize with the FTA, jointly promoting economic and trade development between the two countries. 中厄自贸协定为厄瓜多尔优质商品开启“机遇之门” 自中厄自贸协定于今年5月1日生效以来，厄瓜多尔对华出口显著增长，为厄瓜多尔优质商品如麒麟果、香蕉、对虾等开启了“机遇之门”。中国海关数据显示，5月至10月双边贸易额约75.85亿美元，同比增长8.43%，中国对厄进口额约44.07亿美元，同比增长12.77%。厄瓜多尔麒麟果等商品因其高品质受到中国市场的青睐，出口量大幅增加，促使当地生产商与中国市场需求对接，增加合作以满足不断增长的出口需求。香蕉产业也因自贸协定受益，厄瓜多尔香蕉出口商协会表示，自贸协定使香蕉进入中国市场更通畅，加工产品同样受欢迎。厄瓜多尔-中国商会会长指出，自贸协定增强了厄瓜多尔对华出口活力，中国市场的快速发展推动了厄瓜多尔生产商对产品质量的追求，促进了本土产业的良性发展。此外，秘鲁钱凯港的开港为南美地区对华贸易带来新增长机遇，有望大幅减少厄瓜多尔出口商品运抵中国的时间，与自贸协定形成协同效应，共同推动双边经贸发展。

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China Ensures Timely Payment for Farmers Selling Autumn Grain As the national autumn grain procurement season enters its peak, various regions in China are implementing measures to ensure farmers receive timely payments after selling their grain, guaranteeing that every grain is stored properly. In Jiamusi, Heilongjiang, long queues have formed at rice procurement points. Facing this year's lower market prices, Heilongjiang Province has preemptively initiated its minimum purchase price policy, setting the price at 1.31 yuan per kilogram of rice, to stabilize farmers' income. To support this initiative, the local Agricultural Development Bank of China (ADBC) has prepared a credit fund of 90 billion yuan and opened a green channel to ensure that acquisition loans can be applied for, approved, and disbursed on the same day, accelerating the flow of funds. Financial institutions are not only focusing on the grain storage phase but also expanding financial support for grain processing, transportation companies, and large-scale grain growers purchasing agricultural machinery, achieving comprehensive service coverage across the entire industry chain. Data from the Agricultural Bank of China shows that during the autumn grain procurement period, it has cumulatively issued 220 billion yuan in loans to ensure supply in grain and key agricultural products, fully supporting all links from procurement to sales. The Agricultural Development Bank of China (ADBC) has allocated at least 200 billion yuan in special credit funds, ready to mobilize additional resources as needed, ensuring smooth grain sales by farmers and stable market operations. Moreover, local financial regulatory authorities in Jiangsu, Anhui, Hubei, Chongqing, Henan, and Hebei provinces have guided local financial institutions to pre-arrange credit funds and introduce preferential credit products to meet the capital needs of grain enterprises in critical stages such as procurement and storage, assisting the smooth progress of autumn grain procurement. These measures reflect the determination of the government and financial institutions to safeguard national food security and protect the interests of farmers. 随着全国秋粮收购进入旺季，各地正采取措施确保农民售粮后能够及时获得资金，保障粮食颗粒归仓。在黑龙江佳木斯，水稻收购网点前排起了长队，面对今年较低的市场价格，黑龙江省提前启动了最低价收购政策，每斤水稻定价1.31元，以稳定农户收入。 为了支持这项工作，当地的农业发展银行准备了900亿元信贷资金，并开通了绿色通道，保证收购贷款当日申请、审批和投放，加快资金流转速度。同时，金融机构不仅关注粮食收储环节，还扩大了对粮食加工、运输企业及种粮大户购买农机的资金支持，实现了全产业链的服务覆盖。 农业银行数据显示，在秋粮收购期间已累计发放2200亿元贷款，用于粮食和重要农产品的保供领域，全面支持从收购到销售的各个环节。中国农业发展银行也安排了至少2000亿元专项信贷资金，视需求调配更多资源，确保农民售粮过程顺畅和市场稳定运行。 此外，江苏、安徽、湖北、重庆、河南、河北等地的地方金融监管机构指导当地金融机构，预先安排信贷资金，推出优惠信贷产品，满足粮食企业在收购、储存等关键环节的资金需求，助力秋粮收购工作的顺利进行。这些措施体现了政府和金融机构对于保障国家粮食安全和维护农民利益的决心。

H&W Law Firm Attends the LAC+ and CIIE Business Connectivity Gala Dinner

𝘾𝙝𝙞𝙣𝙖 𝙐𝙧𝙜𝙚𝙨 𝙁𝙞𝙧𝙢𝙨 𝙩𝙤 𝘼𝙫𝙤𝙞𝙙 𝙐.𝙎. 𝘾𝙝𝙞𝙥𝙨 𝘼𝙢𝙞𝙙 𝙏𝙧𝙖𝙙𝙚 𝙏𝙚𝙣𝙨𝙞𝙤𝙣𝙨      Chinese industry associations have urged domestic companies to reduce reliance on U.S. chips, citing concerns over their safety and reliability 🦺, following new U.S. 𝗲𝘅𝗽𝗼𝗿𝘁 𝗰𝗼𝗻𝘁𝗿𝗼𝗹𝘀 targeting 140 Chinese entities. These restrictions, the third major crackdown on China’s chip sector in three years, have further escalated tensions between the two nations 🌎. In response, Beijing has banned the export of rare minerals 𝗰𝗿𝗶𝘁𝗶𝗰𝗮𝗹 𝗳𝗼𝗿 𝗺𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗶𝗻𝗴, signaling its intent to retaliate. The U.S. Semiconductor Industry Association dismissed the safety concerns as baseless and called for narrowly targeted controls to prevent worsening the situation.      The Chinese associations advised companies to 𝗽𝗿𝗶𝗼𝗿𝗶𝘁𝗶𝘇𝗲 𝗱𝗼𝗺𝗲𝘀𝘁𝗶𝗰 𝗰𝗵𝗶𝗽𝘀 and strengthen partnerships with suppliers from regions outside the U.S., emphasizing self-reliance in critical technologies 🔬. While some experts interpret these warnings as soft guidance, they reflect Beijing’s broader push to 𝗹𝗼𝗰𝗮𝗹𝗶𝘇𝗲 𝗸𝗲𝘆 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗲𝘀. U.S. firms like Nvidia, AMD, and Intel, which have continued operations in China despite previous restrictions 🚫, now face increased scrutiny and operational uncertainty, underscoring the growing challenges for foreign businesses in the Chinese market.      Foreign firms operating in China will encounter 𝗺𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗱𝗶𝗳𝗳𝗶𝗰𝘂𝗹𝘁𝗶𝗲𝘀 as Beijing prioritizes reducing dependency on U.S. technology while bolstering domestic production 🏭. These measures could 𝘀𝗶𝗴𝗻𝗶𝗳𝗶𝗰𝗮𝗻𝘁𝗹𝘆 𝗱𝗶𝘀𝗿𝘂𝗽𝘁 the market access of U.S. chipmakers and impact companies reliant on Chinese supply chains. To adapt, foreign firms may need to diversify supply chains, develop partnerships with local or non-U.S. entities, and align with China’s shifting 𝗿𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗽𝗿𝗶𝗼𝗿𝗶𝘁𝗶𝗲𝘀 📜. The increasing emphasis on technological sovereignty could compel international companies to rethink their long-term strategies to remain competitive in this evolving landscape. 标题:中国呼吁企业减少对美芯片依赖      中国行业协会呼吁国内企业减少对美国芯片的依赖，声称这些芯片存在安全和可靠性问题。这一呼吁是在美国对140家中国企业实施最新出口限制之后发出的，这是三年来对中国半导体行业的第三次重大打击。作为回应，中国宣布禁止出口对制造业至关重要的稀有矿物，表明其采取反制措施的决心。美国半导体行业协会则否认相关安全问题的指控，呼吁采取更有针对性的出口管制，以避免局势进一步恶化。      中国行业协会建议企业优先选择本地芯片，并加强与非美国地区供应商的合作，凸显出中国在关键技术领域推动自力更生的努力。虽然一些专家认为这些建议更像是软性指导，但它们反映了中国本地化产业发展的整体趋势。尽管此前受到出口限制，英伟达、AMD和英特尔等美国公司仍在中国运营，但如今面临着更严格的审查，突显出外企在华经营环境日益复杂。      随着中国减少对美国技术的依赖并大力发展本地产业，外国公司在中国的业务将面临更多挑战。此类措施可能对美国芯片制造商的市场准入造成重大影响，并扰乱依赖中国供应链的企业运作。为适应这一变化，外国公司需要多元化其供应链，建立与本地或非美国供应商的合作，并调整战略以应对中国不断变化的监管优先事项。中国日益重视技术自主权，这将迫使国际公司重新思考其长期战略，以在这一动态环境中保持竞争力。

H&W Law Firm Participates in the CIIE Business Connectivity Forum

President Xi Jinping Meets with U.S. President Joe Biden in Lima Local time on November 16, President Xi Jinping of China met with U.S. President Joe Biden in Lima, Peru. President Xi emphasized that over the past four years, despite the ups and downs in Sino-U.S. relations, both sides have maintained a certain level of stability and cooperation through their joint efforts. He noted that the 45-year history of diplomatic relations between China and the United States has shown that when the two countries act as partners, they can promote the development of their relationship through seeking common ground while reserving differences and mutual benefit. Conversely, viewing each other as adversaries leads to volatility and even regression in the relationship. Facing the current world's turbulence and challenges, President Xi believes that major countries should avoid letting competition dominate and instead overcome difficulties through unity and cooperation. In the context of the ongoing technological revolution and industrial transformation, "decoupling and disconnection" are not effective solutions; rather, openness and sharing are the right paths forward. As two of the world's largest economies, China and the United States should prioritize the interests of all humanity and bring more certainty and positive energy to the world. Regarding the recent U.S. general election, President Xi stated that China remains committed to the goal of stable and healthy development of Sino-U.S. relations. China is determined to handle the relationship based on the principles of mutual respect, peaceful coexistence, and win-win cooperation. China's stance on safeguarding its core interests remains unchanged, and its desire to continue friendly exchanges between the Chinese and American peoples also remains unchanged. China looks forward to maintaining continuous dialogue with the U.S. government, deepening cooperation, managing differences properly, and ensuring a smooth transition in Sino-U.S. relations to benefit the people of both countries and the world at large. 国家主席习近平于当地时间11月16日在利马与美国总统拜登会面。习近平强调，在过去的四年里，尽管中美关系经历了起伏，但在双方的共同努力下，仍保持了一定程度的稳定与合作。他指出，中美建交45年的历史表明，两国作为伙伴时，能够通过求同存异、互惠互利的方式促进关系的发展；而将对方视为对手，则会导致中美关系出现波动乃至倒退。 面对当前世界的动荡与挑战，习近平认为，大国之间应避免竞争成为主导，而是通过团结协作来克服困难。在科技革命和产业升级的大背景下，“脱钩断链”并非解决问题的良策，开放共享才是正道。中美两国作为全球最大的经济体之一，应当以全人类的利益为重，为世界带来更多的确定性和积极能量。 针对美国最近举行的大选，习近平表示，中国对于中美关系稳定、健康发展的目标不变，遵循相互尊重、和平共处、合作共赢的原则处理两国关系的决心不变，维护自身核心利益的立场不变，延续中美民间友好往来的愿望也不变。中国期待与美国政府持续对话，深化合作，妥善管理分歧，确保中美关系顺利过渡，为两国及全世界人民谋福利。

China’s Evolving Stance on Cryptocurrency: Legal Ownership, Market Restrictions, and Global Implications A Shanghai court has officially recognized that owning 𝗕𝗶𝘁𝗰𝗼𝗶𝗻🪙 and cryptocurrencies is legal in China, affirming that they qualify as property assets. This clarification comes despite the Chinese government’s 𝟮𝟬𝟮𝟭 𝗯𝗮𝗻🚫 on cryptocurrency mining and trading, which disrupted the market but did not stop individuals from holding or trading assets through foreign exchanges. While ownership is legal, commercial activities like buying, selling, or token issuance remain prohibited to maintain financial stability. 𝗝𝘂𝗱𝗴𝗲 𝗦𝘂𝗻 𝗝𝗶𝗲 of the Shanghai Songjiang People’s Court 🧑⚖️ recently reinforced this distinction in an article published on an official platform. In contrast, Hong Kong, as a special administrative region of China, has adopted a more open stance on cryptocurrencies🪙. In Hong Kong, buying, selling, and trading cryptocurrencies is fully legal, and 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗮𝗻𝗱 𝗘𝘁𝗵𝗲𝗿𝗲𝘂𝗺 𝘀𝗽𝗼𝘁 𝗘𝗧𝗙𝘀 are authorized on its stock exchange. This difference highlights Hong Kong’s role as a testing ground for financial innovations, potentially signaling a future reassessment of the crypto ban in mainland China. However, China's 𝗱𝗶𝗴𝗶𝘁𝗮𝗹 𝘆𝘂𝗮𝗻💹, a state-controlled digital currency, has faced challenges, including slow adoption and corruption scandals, raising questions about the viability of centralized digital currencies compared to decentralized options like Bitcoin. For foreign businesses, this ruling in China underscores a cautious yet evolving approach to cryptocurrency regulation. Companies considering entry into the Chinese market must navigate the regulatory landscape carefully, distinguishing between permissible ownership and prohibited commercial activities📊. Meanwhile, Hong Kong’s crypto-friendly policies present opportunities for foreign enterprises to engage with the region’s financial markets, serving as a gateway to broader Chinese business ventures. Understanding these dynamics will be crucial for 𝗹𝗲𝘃𝗲𝗿𝗮𝗴𝗶𝗻𝗴 𝗰𝗿𝘆𝗽𝘁𝗼𝗰𝘂𝗿𝗿𝗲𝗻𝗰𝘆-𝗿𝗲𝗹𝗮𝘁𝗲𝗱 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀 while staying compliant with regional laws📜. Photo: South China Morning Post

On October 21, 2024, the U.S. Department of Commerce announced adjustments to the "double anti" (anti-dumping and countervailing) duties on specific crystalline silicon photovoltaic (PV) cells from China, primarily targeting small, low-wattage, off-grid products. This marks the first time since the initiation of Sino-U.S. PV trade disputes in 2011 that the United States has proactively reduced these rates, signaling a potential turning point in bilateral PV trade relations. The Sino-U.S. PV trade friction began in 2011 when the United States launched anti-dumping and countervailing investigations into Chinese PV products. In 2012, the U.S. imposed "double anti" tariffs on Chinese PV products, with rates as high as 250%, effectively blocking Chinese goods from entering the American market. The second round of investigations followed in 2014, leading to punitive tariffs of up to 165% on Chinese PV products in 2015. Despite facing stringent trade barriers, China's PV industry has experienced rapid growth over the past two decades. In 2005, China's position in the global PV industry was negligible, with polysilicon production accounting for only 0.3% of the global total. By 2022, however, China's polysilicon production had surged to 85.6% of the global total, and its silicon wafer production reached an impressive 97.4%. This remarkable success can be attributed to technological innovation and industrial upgrading, which have enabled China to establish a strong competitive edge in the global market. While this adjustment in tariffs applies only to specific products, it carries significant symbolic weight. The demand for Chinese PV products in the U.S. market has been steadily increasing, and high tariffs have not only failed to support domestic enterprises but have also inflated the prices of PV products, harming consumer interests. Moreover, the development of the U.S. domestic PV manufacturing sector has lagged behind, with production capacity far from meeting market demands. Industry observers generally believe that this policy adjustment reflects the U.S. recognition of the demand for Chinese PV products and a reevaluation of the effectiveness of previous policies. Under high pressure, China's PV industry has not only survived but has thrived through independent innovation, achieving high-quality development. High tariffs imposed by the U.S. have not curbed the growth of China's PV industry; instead, they have driven Chinese companies toward more advanced manufacturing sectors. In summary, the decision by the U.S. Department of Commerce to adjust the "double anti" rates on Chinese PV products is not merely a technical adjustment but may herald a new chapter in Sino-U.S. PV trade relations. How both sides will balance cooperation and competition in the future remains a key focus of attention.