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Recent Mainland regulation changes on private loans and personal bankruptcy may affect Hong Kong companies doing business across the border.

With the aim of making it easier for small businesses and individuals to access loans, China's Supreme Court has reduced the maximum interest rate to effectively 15%, significantly down from the previous cap of 24%. This would lower margins for private lenders. It could possibly lead to credit being issued to certain borrowers at a rate that does not reflect the risk.

In the meantime, Shenzhen's personal bankruptcy regulations, the first in China, will come into effect on 1 March, 2021. During the three-year observation period, bankrupt debtors will not be banned from taking flights and high-speed trains, or from checking in to hotels. There has been some concerns that debtors might use this provision to evade debts, leaving the creditors with huge losses.

To better understand the new regulations, the Chamber is delighted to have Bernard Lam and Wilson Yan from Gold Partners Holdings Limited share their thoughts on the subject at a 4 November webinar. They will discuss the impact of these changes on Hong Kong enterprises through practical case studies.

Programme highlights:
- Details of China's private-lending rate cap
- Introduction to personal bankruptcy in China
- Introduction to personal bankruptcy in Hong Kong
- How Hong Kong enterprises can reduce the risks associated with the new regulations

DISCLAIMER
Speakers' presentations at this event are intended for educational purposes only and do not replace independent professional judgment. Statements of fact and opinions expressed during this event are those of the speakers and participants and, unless expressly stated to the contrary, are not the opinion or position of the Hong Kong General Chamber of Commerce, its members, or its committees. The Chamber does not endorse or approve, and assumes no responsibility for, the content, accuracy or completeness of the information presented. Attendees should note that, with the approval of speakers, this event may be recorded, and possibly published on the Chamber's website in audio and/or video formats without further notice.

Recording, duplication or distribution of the contents of the online event is prohibited without prior written permission from the Chamber.

Speaker(s) Bernard Lam, Advisor, Gold Partners Holdings Limited
Lam specializes in dispute resolution, insolvency, and commercial, criminal and regulatory investigations. He is the Secretary General of The Basic Law Institute and a Committee Member of the H.K. China Economic Development Association Ltd. Lam is also the Principal of Tung, Ng, Tse & Lam.

Wilson Yan, Advisor, Gold Partners Holdings Limited
Yan worked at the Shenzhen Municipal Public Security Bureau from 2004 to 2013, specializing in economic and financial criminal offence investigations. He has focused on dispute resolution and enforcement issues in the finance sector. He has acted as the legal advisor for clients, including Huatai Futures and CITIC Capital Asset Management, and listed companies like Chow Tai Fook and Pulse Electronics, in litigation and arbitration cases.
Language Putonghua
Date and Time 2020/11/04 11:00 to 12:15
Venue This event will take place online via ZOOM
Media Closed to media
Enquiries West Lam
Tel: 2823 1265
Email: west@chamber.org.hk
Fee Members @ HK$100 / Non-Members @ HK$200
+$50 for booking offline
This event accepts Chamber Coupon (terms and conditions)
Members enjoy 30% discount with BOC HKGCC VISA Card
Notes - Bookings are only confirmed upon receipt of payment, on a first come first served basis.
- Booking transfer is allowed for corporate members with advanced notice, walk-ins are normally not accepted.
- The Chamber reserves the right to decline any booking or cancel the event. In such case, a full refund of the participation fee will be issued.
- Members paying with their BOC HKGCC Visa Card will enjoy a 30% discount on their reservation. The discount is only applicable to the card holder, and does not extend to their guests. The discount cannot be used in conjunction with Chamber Coupons.
- A $50 handling fee per person will be charged for all offline bookings (e.g. fax, e-mail, post) for all Chamber events. Go online today by downloading our app or registering on the HKGCC website to save the environment and money.
- Priority is given to corporate members. The decision to accept or decline any booking shall be at sole discretion of the Chamber.
- Access details to be sent to registered guests three days ahead of the event.
- The registration fee is non-refundable for this event.