O’Melveny Providing Legal Guidance on New Shanghai Free Trade Zone

April 07, 2014 FOR IMMEDIATE RELEASE

CONTACT:
Julie Fei
O’Melveny & Myers LLP
+1 (213) 430.7792
jfei@omm.com

SHANGHAI -- April 7, 2014 -- O’Melveny & Myers LLP has formally joined with The American Chamber of Commerce in Shanghai (AmCham Shanghai) to provide legal advice as AmCham Shanghai rolls out a series of activities on the establishment of the new Shanghai Pilot Free Trade Zone (FTZ). O’Melveny will provide AmCham Shanghai’s members with real-time information about updated regulations for the zone and support AmCham Shanghai’s engagement with government authorities on implementation.

Officially opened in September 2013, the FTZ aims to facilitate international business and simplify foreign investment in China by easing restrictions on currency and foreign direct investment. The FTZ identifies 18 different sectors that streamline foreign investment approvals. While some implementing regulations for the zone have been released, others remain to be issued.

“The exciting prospect of the Shanghai Free Trade Zone is that it is part of China’s ongoing legal and regulatory reform and it could help transform Shanghai into a truly international city. There is great potential for multinational companies and others to conduct business in Shanghai more smoothly than ever before,” said O’Melveny’s Li Qiang, who is supporting AmCham Shanghai’s designated task force to evaluate the legal implications for international companies.

AmCham Shanghai’s members can access the information and resources that O’Melveny is providing on the FTZ through the Chamber’s website or by contacting the Firm directly. The Firm also announced that it will author monthly updates on FTZ development, which can be found here, as well as by conducting webinars and live briefings.

If you’d like more information of the FTZ, please contact Li Qiang at +86 (21) 2307-7018 or qli@omm.com.

About O’Melveny & Myers LLP
With approximately 800 lawyers in 16 offices worldwide, O’Melveny & Myers LLP helps industry leaders across a broad array of sectors manage the complex challenges of succeeding in the global economy. We are a values-driven law firm, guided by the principles of excellence, leadership, and citizenship. Our commitment to these values is reflected in our dedication to improving access to justice through pro bono work and championing initiatives that increase the diversity of the legal profession. For more information, please visit www.omm.com