King and Capital Law Firm's leading lawyer gave African and Chinese dignitaries, lawyers and businessmen gathered in Beijing for the launch of a new legal center his personal template for future success between the two trading blocs.
Honorary director and chief counsel as King & Capital, Ren Jisheng, was addressing the official opening of the African Legal Affairs Center(ALAC), which contained with a seminar on legal risk in African investment at the China International Hotel in Beijing.
The event drew African and Chinese diplomats, law firms, research institutions and businessmen keen to see trade ties improve between the two trading partners.
Mr. Ren laid out a legal services framework for investment and future prosperous relations in the form of "three levels, five aspects and six types".
He said three levels of rules should be observed: i) the fundamental principles for China-African relation, being friendship, equality, mutual benefit and common development; ii) multilateral and bilateral treaties, as well as international customs; and iii) local customs ans practice in Afirca.
The “five aspects” of his framework that needed to be managed successfully to enable buoyant trade relations include: feasibility studies and due diligence; drafting and execution of agreements; performance of agreements; solving problems arising from project implementation; and resolving disputes appropriately.
His last recommendation came in the form of “six types”, referring to legal services essential for a good relationship including: conducting studies of China-Africa related legal issues and rendering results to institutions and authorities to improve relevant provisions; protecting the rights of legal entities and individuals; services for China-Africa investment and trade, and other civil and commercial activities; services for dispute resolution; services in related criminal cases; and services for China’s aid projects in Africa.
Cheng Zhigang, secretary-general of the China-Africa Industrial Forum (CAIF), said the ALAC was possible due to an ever increasing enthusiasm from Chinese enterprises for African investment. He said the new centre will investment. He said the new center will help meet the needs of these enterprises, encourage them to learn about the African continent, and avoid legal risks in their investments.
The seminar and ceremony, held on 25 September, was hosted by King & Capital and the CAIF, and supported by the African Diplomatic Corps in Beijing.