VIE架构有关近期案件法律分析(汉坤memo).pdfVIP

漢 坤 律 師 事 務 所 HAN KUN LAW OFFICES Suite 906, Office Tower C1, Oriental Plaza, 1 East Chang An Avenue, Beijing 100738, P. R. China TEL : (86 10) 8525-5500; FAX : (86 10) 8525-5511/ 5522 M E M O R A N D U M 备忘录 To: Our Friends and Clients 致： 我们的朋友和客户 From: Han Kun Law Offices 自： 汉坤律师事务所 Date: July 8, 2013 日期： 2013年7月8 日 Re: Legal Analysis on Recent Rulings related to VIE Structure 关于： 与VIE架构有关的近期案件的法律分析 It has recently been widely reported that several PRC judicial, arbitral and administrative decisions on cases involving VIEs indicate the PRC government’s negative attitude towards the use of VIE arrangements in China. This memorandum will analyze these cases and decisions, distinguish between these cases and a typical VIE structure, and illustrate how these decisions may impact use of VIE arrangements in China. 近期，多家媒体报道了中国法院、仲裁机构和行政机关对一些涉及 VIE 协议的 案件的判决、裁决或决定，认为它们反映了中国政府对 VIE 结构在中国的使用 持否定态度。本备忘录将分析这些案件与典型 VIE 结构的差别以及这些判决、 裁决或决定可能会对VIE 结构在中国的使用产生的影响。 1. Summary of recent judicial judgments, arbitration awards and administrative decisions concerning the VIE structure 近期涉及VIE 架构的法院判决、仲裁裁决及行政决定的简述 1.1 Arbitration awards of CIETAC Shanghai in two related cases involving an online game operating company using the VIE structure 贸仲上海分会在两起涉及同一网络游戏运营公司的VIE 结构的案件中的 仲裁裁决 According to an article published in China Business Law Journal, a tribunal of the China International Economic and Trade Arbitration Commission (“CIETAC”) Shanghai ruled in 2010 and 2011 in two related cases involving the VIE arrangement of an online game operating compa