中国西部国际投资贸易洽谈会_Photo News _The 7th WCIFIT | Chongqing Releases Top Ten International Legal Service Products to Support Enterprises' Global Expansion

On May 23, the "Chongqing Legal Navigation for Global Economic and Trade Development" International Legal Services Networking Event was held at Chongqing International Expo Center, jointly organized by the Chongqing Municipal Bureau of Justice and the Chongqing Municipal Commission of Commerce, and co-organized by the Chongqing Bar Association and the Chongqing Court of International Commercial Arbitration. As one of the themed activities of this year's WCIFIT, the event focused on the legal service needs of foreign-related enterprises, built a supply-demand matchmaking platform to safeguard high-quality development of enterprises. At the event, ten foreign-related legal service products were released, covering multiple areas including the international compliance review and international commercial mediation, empowering Chinese enterprises in their global expansion.

It is learned that the 10 foreign-related legal service products are provided by 8 law firms and 2 notary organizations in Chongqing, involving different foreign-related legal service areas. For example, ZHH Law Firm provided a practical guide to investment and plant establishment in Malaysia, offering Chinese enterprises full-process legal services for investing and setting up factories in Malaysia, including preliminary consultation, compliance assessment, and government approvals. It integrates Chinese and Malaysian legal resources to help enterprises avoid risks and operate smoothly.

The "one-stop butler service", "customized notarization service" and other notarization solutions provided by Chongqing Guoxin Notary Public Office cover scenarios like investment, bidding, and cross-border e-commerce, facilitating enterprises to carry out foreign-related businesses efficiently; The Chongqing Yubei Notary Office offered foreign-related notarization products that provide notarization services for outbound enterprises in areas such as subject qualification, qualification certification, and intellectual property, and also offer full-process services such as business registration agency and intellectual property risk warning to safeguard overseas development.

In addition, the event also released ten typical foreign-related legal service cases jointly selected by the Chongqing Municipal Bureau of Justice and the Chongqing Municipal Commission of Commerce. The cases came from various sectors including law, arbitration, and notarization, and covered fields such as cross-border investment, international trade, and foreign-related intellectual property. These cases serve as vivid examples to help enterprises understand international trade rules, respond to cross-border investment risks, and safeguard their legitimate rights and interests overseas.

▲ The site of the "Chongqing Legal Navigation for Global Economic and Trade Development" International Legal Services Networking Event of the 7th WCIFIT, Chongqing International Expo Center, May 23. Photograph courtesy of reporter Cui Li / Visual Chongqing

What legal risks might enterprises encounter when "going global"? How to resolve cross-border disputes? During the dialogue session, experts and scholars from across the country offered practical advice and insights for Chongqing's foreign-related enterprises.

Yang Laike, Executive President of the Chongqing Chamber of Commerce for Import and Export, introduced that the legal problems encountered during overseas expansion are as follows: First, information asymmetry. Enterprises have insufficient understanding of the target market, including policies and regulations, cultural customs, and market demands, leading to some decision-making errors; second, high trade risks, such as political risk, exchange rate fluctuations, and trade barriers, with enterprises lacking effective risk prevention mechanisms; third, legal compliance issues. Because the legal rules of different countries and regions vary greatly, enterprises are prone to legal risks in the process of going global, such as intellectual property issues and contract disputes; Fourth, many small and medium-sized enterprises face capital shortages when going global, and their financing channels are limited, directly affecting enterprise development.

To address these challenges, Yang suggested that enterprises must be fully prepared before going global and should rely on chambers of commerce and foreign-related institutions, especially legal service support.

As a leading automobile enterprise in Chongqing, what experiences does Changan Automobile Group Co., Ltd. (CCAG) have in its "Chongqing Vehicles Going Global" process? Jiang Yue, Director of the Personal Data Protection Office (Data Protection Officer) and Deputy General Manager of the Legal Compliance Department of CCAG, stated that Changan Automobile has built a "152" Legal Team. Internally, it not only has a legal team based in Chongqing but also legal teams in Southeast Asia, South America, Europe, and other overseas regions.

"The overseas legal teams mainly handle legal affairs such as contracts, cases, and project compliance. In addition to building a global legal compliance system, they focus on vehicle export control and antitrust compliance." Jiang explained. "Especially in recent years, as the automotive industry is facing global risks, we require legal personnel to understand professions, industries, and enterprises. We also need lawyers to conduct in-depth research in their specialties to help us coordinate and integrate global resources."

"Before overseas investment, we must conduct detailed research on the political system, legal system, religious and cultural background, various tax laws, and related restrictions of the investment destination", said Liu Jian, Deputy General Manager of BOSAI Group.

The Chongqing Arbitration Commission is a commercial arbitration institution established by the municipality. According to He Jing, Deputy Director of Arbitration Affairs Division I of Chongqing Court of International Commercial Arbitration, by this year, the Chongqing Arbitration Commission has handled more than 140 foreign-related arbitration cases, with a total value of the cases exceeding RMB16 billion. The arbitration awards have been recognized and enforced in more than 20 countries and regions, including the UK, the US, Canada, and Malaysia. Last year, it handled disputes amounting to over RMB5 billion, ranking sixth nationwide.

Meanwhile, at the event, 11 entities including the Chongqing Bar Association, Chongqing Court of International Commercial Arbitration, Trade and Economic Multifunctional Platform for SCO Countries, Chongqing Notary Association, Chongqing Chamber of Commerce for International Cooperation of Private Economy, Chongqing Chamber of Commerce for Import and Export jointly signed the Strategic Cooperation Framework Agreement on Building Chongqing's International Commercial Legal Services Ecosystem. The 11 entities will carry out legal cooperation in aspects such as jointly preventing foreign-related legal risks, promoting resource flow, and empowering the development of private economy to help optimize the law-based business environment.

At the event, ZHH Law Firm signed the Strategic Cooperation Framework Agreement for Deepening Cross-Border Legal Services with Singapore CHP Law LLC and Malaysia Mohamed Ridza & Co respectively; Chongqing Jingsheng Law Firm signed the Memorandum of Understanding on Deepening International Commercial Legal Services and Cross-Border Investment and Trade Cooperation with Rajah & Tann (Thailand) Limited. The signing parties agreed to establish cross-border law firm collaboration and form joint legal teams to provide full-chain protection for enterprises "going global", effectively promoting the alignment of economic and trade rules and innovation in legal cooperation between China and ASEAN.

Source: New Chongqing - Chongqing Daily

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