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O’Melveny’s Zhang Quoted on Proposed Ban of VIE Corporate StructureApril 29, 2015 O’Melveny & Myers counsel Ning Zhang is quoted in The Wall Street Journal’s April 19, 2015, article, “Foreign Companies at Risk from Proposed Chinese Law,” regarding China’s proposed ban the corporate structure known as a variable interest entity, or VIE. The structure is currently used by major foreign companies and several Chinese Internet companies with US stock exchange listings, the article reports. “The VIE structure has never been legal per se,” Zhang told The Wall Street Journal. “It is time [for companies] to consider restructuring the VIE,” he said, adding that he does not see the proposed ban as “a cause for panic.”
Zhang is a member of O’Melveny’s Mergers and Acquisitions and Capital Markets Practices. He resides in the Firm’s Beijing office.