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Expert Insight on Business Laws of China


Two new books from West focus on mergers and acquisitions, shareholder agreements and joint ventures in China

EAGAN, Minn. – The People’s Republic of China is now the world’s third-largest economy and the recipient of more foreign investment each year than any other country, yet its business laws and the practice of deal-making have long been a source of confusion or mystery.

West, part of Thomson Reuters, is releasing two books that provide relevant information for doing business in China: Mergers and Acquisitions in China and Shareholder Agreements and Joint Ventures in China.

Mergers and Acquisitions in China is co-authored by two veteran China law practitioners, Owen D. Nee Jr., of counsel with Jones Day; and Jingzhou Tao, partner at Jones Day. Shareholder Agreements and Joint Ventures in China was written by Nee.

Mergers and Acquisitions in China examines steps involved in acquiring a business in China, including the antitrust, tax and labor laws that affect M&A deals. The book provides practice-oriented examples and case studies to illustrate legal principles to address this fast- changing and challenging environment.

Shareholder Agreements and Joint Ventures in China deals with the legal framework and structuring of a joint venture in China, focusing on both the more traditional forms of joint ventures and the more recent use of shareholder agreements when acquiring shares in an existing company.

Nee believes the failure of many joint ventures is linked to basic misunderstandings of the deal-making process, which too often occur because the investor or its counsel fail to study the applicable legal ground rules.

“I think the principal reason for failure is that often the mistakes are made right at the beginning of the negotiations of a joint venture in China. The foreign side is quite unfamiliar with what the rules of the game are,” says Nee. “When the Chinese talk about a joint venture, they mean something that is quite different than what an American lawyer or what an American business has in mind – to use the Chinese phrase, ‘sleeping in the same bed but dreaming different dreams’ – and this leads to problems down the road.”

Note to editors: A Westcast podcast featuring a discussion about mergers and acquisitions, shareholder agreements and joint ventures in China with Owen Nee is available on the Westcast Web site at or go to iTunes and enter “Westcast” in the search box.

About West
Headquartered in Eagan, Minn., West is the foremost provider of integrated information solutions, software and services to the U.S. legal market. West is part of Thomson Reuters. For more information, please visit the West Web site at

About Thomson Reuters
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, scientific, healthcare and media markets, powered by the world’s most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minn., Thomson Reuters employs more than 50,000 people in 93 countries. Thomson Reuters shares are listed on the New York Stock Exchange, Toronto Stock Exchange, London Stock Exchange and Nasdaq. For more information, go to


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