Preface

The world is undergoing complex and profound changes. Underlying impacts from international financial crisis continue to appear, global economy is in slow recovery with wider development gap, international investment and trade pattern and multilateral investment and trade rules will be readjusted profoundly, and many countries around the globe are still facing pressing developmental challenges. During his visit to Central Asia and Russia in 2013, Xi Jinping, the General Secretary of the Communist Party of China and the President of the People􀆳s Republic of China, delivered a speech in a university in Kazakhstan where he officially announced the idea of Silk Road Economic Belt. During the APEC meeting in November 2014, the President put forward the 21st Century Maritime Silk Road. On 28 March 2015,, the National Development and Reform Commission, Ministry of Foreign Affairs and Ministry of Commerce of People􀆳s Republic of China jointly issued the “Vision and Proposed Actions Outlined on Jointly Building Silk Road Economic Belt and 21st-Century Maritime Silk Road”, marking the official launch of “Belt and Road” Initiative. “Belt and Road” Initiative has been launched in abreast with the trends of world multi-polarization, economic globalization, cultural diversification and social informationization. In the spirit of open regional cooperation, we are committed to safeguard the global free trade system and the world􀆳s open economy. “Belt and Road” Initiative aims at facilitating orderly and free flow of economic elements, efficient allocation of resources and greater harmonization of markets, promoting the coordination of economic policies of countries along the routes, developing a wider, higher and deeper regional cooperation and co-establishing a regional economic cooperation framework that is open, inclusive and balanced. “Belt and Road” Initiative is in line with the fundamental interests of international community which reflects the aspiration of well-beings and common goals of the human society. It actively serves to explore the new model of international cooperation and global governance, which will infill new positive energy in the pursuit of world peace and development.

Shenzhen is one of the 15 pivot cities designated for maritime cooperation strategies as outlined in the national plan of “Belt and Road”. This gives Shenzhen incomparable advantages than other cities, including its deep participation in “Belt and Road”, especially the benefits generated from the construction of the 21st Century Maritime Silk Road. Under the requirements of the Central Committee of Communist Party of China, Shenzhen municipal communist party committee and the government of Shenzhen is acting in line with the national strategic layout of “Belt and Road” and strictly following the general requirements of four-pronged comprehensive strategies for deepening reform, so as to give full play to the fundamental and leading role that economic and trade cooperation plays in the construction of the Belt and the Road. Shenzhen has also placed Guangdong-HongKong-Macao Great Bay Area and Qianhai and Shekou Free Trade Zone as the core of development with the support from deepening trade cooperation with other countries and regions along the routes and the expanded investment with these countries and regions as breakthrough, in order to actively integrate in bilateral and multi-lateral free trade arrangements. Moreover, focuses have been placed on the exploration of new mechanism for international economic and trade cooperation, facilitation of trade and investment, advancement of Shenzhen􀆳s position in global value chain and increment of bargaining power in global allocation of resources. Under such circumstances, Shenzhen can be forged as an important platform to serve the country􀆳s “go east” strategy in a wider and deeper scope and in a greater extent of integration with the global economy. Shenzhen will also be forged as the frontrunner and pioneer of “Belt and Road”, especially in constructing the Maritime Silk Road for economic and trade cooperation. This will offer our country exploratory experience in building a balanced and open system comprised of multiple players under new economic and trade environment.

Shenzhen Branch of China Council for the Promotion of International Trade (CCPIT Shenzhen) serves as an important platform for exchanges and cooperation between Shenzhen and the world. Faced with both domestic and overseas markets and two resources therefrom, the CCPIT Shenzhen is devoted to promote corporate development, facilitate international economic and trade cooperation, establish a service system for international trade and investment and promote a sound business environment in Shenzhen. CCPIT Shenzhen has also played an important and constructive role in enhancing Shenzhen􀆳s international economic competitiveness and internationalization of economy. Under the national policy of “Belt and Road”, CCPIT Shenzhen will take the lead in forming the “Alliance of Silk Road Trade Promotion Institutes”, which will perform as an official platform for economic and trade exchange and cooperation between Shenzhen and countries along the routes. Moreover, CCPIT Shenzhen will create a matching network for “Belt and Road” investment projects targeting on Shenzhen and overseas investors. CCPIT Shenzhen will also integrate the professional firms in the fields of law, finance and technology in order to provide Shenzhen enterprises with full professional supports in investing and constructing the“Belt and Road”.

In order to fully implement the strategic deployment of “Belt and Road”, Shenzhen municipal party committee and the government has directed CCPIT Shenzhen, together with Chinese Academy of Social Sciences, China Commercial Lam Lee Lai (Qianhai) Law Firm, HOGAN LOVELLS International LLP, Lam Lee & Lai, Coolpad Group, and various colleges and universities of finance and economics with extensive experience in international investment to conduct research on the investment environment of “Belt and Road”. The research is designed to introduce “going-out” investment cases and previous experience therein to Chinese enterprises in “Belt and Road”, and provide intellectual support and strategic reference for the government to enact and implement the foreign economic policies.

This book provides thorough introduction of the national strategy of “Belt and Road” in the first part, from which readers can acquire a comprehensive and in-depth understanding of the policy. In the second part, the authors provide analysis of typical investment cases on the basis that the target investment would be made based on a country􀆳s fundamental phenomenon. The investment environment analysis and risk warnings in this part can be seen as precious experience and reference for China􀆳s “going-out” enterprises under “Belt and Road”. At last, the writers highlight several key issues as to what Chinese enterprise should be aware of in the implementation of “Belt and Road”.

The authors of this book comprise specialists at the Chinese Academy of Social Science, lawyers with rich experience, senior legal personnel in business and university professors and lecturers. It is a team that embraces both sound theoretical knowledge and abundant practice experience. Most of the projects used by the authors in the books are the projects they have been actually involved in. This book, as a combination of theory and practice, can be used as a guidebook for readers in “Belt and Road” strategy.

Contributors:

Part One: The Strategic Importance and Policy Implication of “Belt and Road”

Chapter 1, Lixin Yu, director and researcher of IFTE of CASS;

Chapter 2, Huifang Shen, professor and the executive vice president of Wuyi University􀆳s Commercial College;

Lixin Yu, director and researcher of IFTE of CASS;

Chapter 3, Lixin Yu, director and researcher of IFTE of CASS;

Ying Qiu, lecturer of Jiangxi University of Finance and Economics;

Chapter 4, Ying Qiu, lecturer of Jiangxi University of Finance and Economics;

Qingyun Liu, master candidate of Zhejiang Sci-tech University;

Chapter 5, Lixin Yu, director and researcher of IFTE of CASS;

Dongfang Wang, lecturer and master of Wuyi University􀆳s Commercial College;

Chapter 6, Ying Qiu, lecturer of Jiangxi University of Finance and Economics;

Feifei Yang, lecturer and master of Wuyi University􀆳s Commercial College;

Chapter 7, Ying Qiu, lecturer of Jiangxi University of Finance and Economics;

Lixin Yu, director and researcher of IFTE of CASS.

Part Two: Cases Study on Investment Practice

Chapter 8, Ambrose Lam, Managing Partner of Lam Lee Lai Law Firm;

Michelle Yang, Trainee Solicitor of Lam Lee Lai Law Firm

Chapter 9, Shouqun Wang, Managing Partner of China Commercial Lam Lee Lai (Qianhai) Law Firm;

Lijia Deng, assistant lawyer, China Commercial Lam Lee Lai (Qianhai) Law Firm;

Chapter 10,12,14, Guorong Zou, Partner of HOGAN LOVELLS International LLP;

Yongzhong Zou, Lawyer of HOGAN LOWELLS International LLP;

Chapter 11,13, Jianjun Guo, Vice President and Chief Legal Officer of Coolpad Group;

Xianliang Deng, Director of Legal Affairs of Coolpad Group;

Yun Zhang, legal personnel of Coolpad Group;

Ning Hu, legal personnel of Coolpad Group.

Part Three: Important Issues in the Investment Practice of “Belt and Road”

Shouqun Wang, Chengjiao Li, China Commercial Lam Lee Lai (Qianhai) Law Firm;(Qianhai)

Dongmin He, Lijia Deng, China Commercial Lam Lee Lai (Qianhai) Law Firm.

We would like to express our sincere gratitude to the original authors for their provision of relevant materials that are used as reference to the compilation of this book. As “Belt and Road” initiative is still in its initial stage, many theories are still constantly being experimented and perfected which would require more exploration and conclusions. Due to the time constraints of the authors, omissions may be inequitable. Hence, you are cordially invited to give us your thoughts and comments.