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News & Analysis

Long Service Payment and Severance Payment in Hong Kong - Abolishment of Offsetting Arrangement

05 July 2022 by LC Lawyers

The Government passed the Employment and Retirement Schemes Legislation (Offsetting Arrangement) (Amendment) Bill 2022 on 9 June 2022 to abolish the use of the accrued benefits of employers' mandatory contributions under the Mandatory Provident Fund (“MPF”) System to offset severance payment (“SP”) and long service payment (“LSP”). While this development is welcome by employees, certain preparation should be made by Hong Kong employers especially for those whose workforce experiences low turnover.

News & Analysis

Revised Hong Kong listing regime for overseas issuers

04 July 2022 by LC Lawyers

A revised listing regime for overseas issuers on the Stock Exchange of Hong Kong (SEHK) took effect following consultation on 1 January 2022.

News & Analysis

Hong Kong: ESG Series – Green and Sustainable Finance Grant Scheme of Hong Kong

01 July 2022 by LC Lawyers

It has been one year since the launch of the Green and Sustainable Finance Grant Scheme (Scheme) in May 2021.

News & Analysis

Hong Kong: ESG Series – External reviews on sustainable bonds and loans

30 June 2022 by LC Lawyers

The principles on sustainable bonds (ICMA Bond Principles) formulated by the International Capital Market Association (ICMA) are widely applied in Hong Kong listed bonds, as discussed in our previous articles.

News & Analysis

Hong Kong: ESG Series – International Capital Market Association: Principles on Sustainable Finance Instruments - Applications in Hong Kong listed bonds

29 June 2022 by LC Lawyers

As of 10 May 2022, the Hong Kong Stock Exchange included 94 bonds in its “Sustainable Finance Products” bond repository , out of which 79 issuances are categorized as green bonds. The other categories are 2 social, 1 sustainability, 3 sustainability-linked, 2 blue, 6 transition and 1 COVID-19 bonds.

News & Analysis

Hong Kong: ESG Series – International Capital Market Association, Principles on Sustainable Finance Instruments

28 June 2022 by LC Lawyers

Green, social and sustainability-linked bonds listed on the Hong Kong Stock Exchange adopt principles formulated by the International Capital Market Association (ICMA) . This article introduces the core elements in those principles.

News & Analysis

Hong Kong: Synergize GBA series - Cross-border data transfers in mainland China

27 June 2022 by LC Lawyers

In 2021, we have seen significant changes in the data protection regime in mainland China. Specifically, the Data Security Law (DSL) and the Personal Information Protection Law (PIPL) came into effect on 1 September 2021 and 1 November 2021 respectively.

News & Analysis

Hong Kong: Stock Exchange Conclusions on Corporate Governance Code

06 January 2022 by LC Lawyers

The Stock Exchange of Hong Kong Limited (“Stock Exchange”) published in December 2021 the conclusions to its consultation paper of April 2021 titled “Review of Corporate Governance Code and Related Listing Rules”, with an aim to enhance the corporate governance practices and reporting by listed companies.

News & Analysis

Integrity is key: Hong Kong’s new Corporate Governance Code mandates that issuers establish anti-corruption and whistleblowing policies

04 January 2022 by LC Lawyers

In our earlier publication “COVID-19 heightened corruption risks – A Hong Kong guide”1, we forewarned that COVID-19 and the challenges it posed to enforcement authorities, organizations and their workforce would allow corruption to thrive.

News & Analysis

Hong Kong: ESG Series – What is COP26?

22 November 2021 by LC Lawyers

As COP26 is making global headlines, what exactly is this gathering and what makes it different from other global summits in the past?