China

China

China

China and Australia are natural partners, with bilateral trade between the two countries worth A$105 billion. Investment between the two continues to grow.

The Corrs China Business Group works on behalf of clients to effectively and efficiently navigate Australia’s legal and regulatory environment. Collaboration is fundamental to how we do business. Our clients’ success in investing and operating in Australia for the long term is the benchmark for our success.

Corrs’ China Business Group is co-chaired by Dr Geoff Raby, former Australian Ambassador to the People’s Republic of China. It focuses on providing practical and strategic advice to Chinese clients investing and operating in Australia. Our China Group has advised on some of the largest and most complex investments by Chinese businesses in Australia. We know that successfully executing a transaction for Chinese businesses requires long term relationships to facilitate a deep understanding of our clients’ strategic objectives. We have acted for Chinese clients over many years and members of our team have lived and worked in China, so we appreciate the framework in which Chinese business operates.

Our outstanding track record of executing deals on behalf of Chinese businesses and obtaining foreign investment approvals speaks for itself. We deal regularly with the Australian Government on foreign investment issues and by taking a practical approach can facilitate even the most politically sensitive applications through the Foreign Investment Review Board to achieve a successful outcome.

A commitment to teamwork forms the cornerstone of our approach to client service. We are proud of our longstanding relationships with many leading Chinese companies.

Our clients include both state-owned enterprises and private companies, including those operating in energy and resources, mining and metals, agribusiness, technology and communications and manufacturing.

Current Chinese President Xi Jinping with Corrs CEO John W.H. Denton

Former Chinese President Hu Jintao with Corrs CEO John W.H. Denton

Our Experience

COFCO Corporation’s investment in Proserpine Sugar

Corrs advised COFCO Corporation and its wholly-owned subsidiary Tully Sugar Limited on its proposed acquisition of the Proserpine Co-operative Sugar Milling Association Limited for A$120 million.

Power transformer investigation

On 29 July 2013 the Australian Anti-Dumping Commission initiated an anti-dumping investigation into exports of liquid dielectic power transformers with power ratings equal to or greater than 10 mega volt amperes and a voltage rating of less than 500 kilo volts from the People’s Republic of China, the Republic of Indonesia, Taiwan, Thailand and the Socialist Republic of Vietnam.

Corrs is assisting, in the investigation, a range of exporters of those types of transformers from China, Taiwan and Indonesia, as well as an end-user in Australia.

More

Round-up export investigation

Corrs has been advising the China Chamber of Commerce of Metals, Minerals & Chemicals in relation to an application by Nufarm and Accensi for the Australian Customs and Border Protection Service to investigate the alleged dumping of formulated glyphosate imported into Australia from China.

Formulated glyphosate is a weed killer and is marketed in Australia under a variety of names, including Round Up. The China Chamber of Commerce represents, among others, Chinese exporters of glyphosate.

Following an initial investigation by Customs, a review by the Trade Measures Review Officer, and a re-investigation by Customs, the investigation was ultimately terminated, and no anti-dumping measures imposed on exports from our client’s members.

More

Steeling Chinese exporters against customs investigation

When Australian Customs and Border Protection Service initiated dumping and subsidy investigations into exports of galvanised steel and plate steel from the People’s Republic of China and Taiwan, Corrs stepped in.

Corrs worked together with domestic Chinese and Taiwanese law firms to assist exporters of galvanised steel and plate steel from China and in Taiwan to respond to the investigation, which was initiated by Customs following an application by BlueScope Steel Limited, the sole producer of galvanised steel and plate steel in Australia.

More

Tai Shan Kam Kiu Aluminium Extrusion Co Ltd

After the Attorney-General imposed anti-dumping and countervailing measures on aluminium extrusions exported from the People’s Republic of China, Corrs represented the Kam Kiu group of companies in Federal Court of Australia proceedings challenging various aspects of the investigation and decision-making process, including a decision to vary the initial measures that had been imposed on our client’s exports.

Our challenge to that decision – made on the basis that it was out of step with WTO appellate caselaw - was successful, with the Federal Court determining that the measures should be treated as if they had never been varied.

More

Yancoal Australia Ltd's acquisition of Syntech Resources

Corrs Chambers Westgarth advised Yancoal Australia Ltd, a wholly owned subsidiary of Yanzhou Coal Mining Company in China, on its acquisition of Syntech Resources Pty Ltd.

Yancoal acquired a number of large thermal coal exploration and production assets located between Miles and Chinchilla in the Surat Basin, southern Queensland from GS Power Holdings LLP, including the Cameby Downs Mine. Syntech currently has JORC compliance coal resources of 723 million and reserves of 440 million tonnes.

The acquisition was made through the purchase of 100 per cent of the equity interests in Syntech Holdings Pty Ltd and Syntech Holdings II Pty Ltd by a Yancoal Australia.

The Corrs team was led by partners Andrew Lumsden and Bruce Adkins, and supported by senior associates David Sim and Franka Cheung and lawyers Maggie Wong and Jennifer Leung.

Click here to read the full media release.

More

Yanzhou Coal Mining Company’s $3.5 billion acquisition of Felix Resources

Yanzhou Coal became the first Chinese state-owned enterprise to acquire 100% of an Australian listed company through the A$3.5 billion acquisition of Felix Resources.

The deal featured an innovative undertaking whereby Yanzhou Coal would list Yancoal Australia on the Australian Securities Exchange by no later than the end of 2012, thereby guaranteeing public ownership.

Corrs advised Yanzhou Coal on what was the biggest ever Chinese deal in the Australian coal sector at the time.

The implementation of the transaction involved managing disclosures on three key stock exchanges - ASX, Shanghai and Hong Kong. A tight timeframe of only four months was met, even though all documents had to be translated and there were significant language and cultural differences that the team had to overcome.

More

Yanzhou Coal’s acquisition and sale of interests in the Ashton Coal Joint Venture (NSW) and Minerva Coal Joint Venture (QLD)

Corrs recently assisted Yanzhou Coal on its USD$250 million acquisition of a 30% interest in the Ashton Coal Joint Venture (Ashton JV).

The Ashton JV operates a major coal mine, the Ashton Coal Mine, which is an open cut and underground coal mining operation located near Singleton in New South Wales.

The Ashton Coal Mine produces semi-soft coking coal which is primarily exported to Asian steelmakers.

Yanzhou Coal had originally acquired a 60% interest in the Ashton JV following its acquisition of Felix Resources Limited (Felix Resources) (also advised by Corrs) in 2009, and as a result of this acquisition has increased its ownership of the joint venture to a 90% interest.

Corrs also assisted Yanzhou Coal in late 2010 with the sale of its 51% interest in the Minerva Coal Joint Venture (Minerva JV) located near Queensland’s Bowen Basin for AUD$201 million. The Minerva JV had also been acquired as a part of Yanzhou Coal’s acquisition of Felix Resources in 2009.

More

Our Thinking

M&A Year in Review 2016

Our latest M&A Year in Review highlights five key considerations ranging from pre-bid strategy during these uncertain times, through to the tactics necessary to edge deals over the line.

More

Chinese investment in Australia - The rooster crows before sunrise breaks the dawn

In this year of the Fire Rooster, Chinese investors will focus on healthcare and tourism in Australia.

More

Doing Business in Australia

Australia is an exceptional place in which to do business. Find out how we can help you develop your business in Australia.

More Download

Global Foreign Direct Investment: What Is New?

On 8 December, Corrs Partner and CEO John W.H. Denton AO participated in a panel session entitled ‘Global FDI: What is New?’ at the BOAO Forum for Asia Melbourne Conference: The Future of Globalisation.

More

Managing the Complexity of Asian Geopolitics

On 28 November, Corrs Partner and CEO John W.H. Denton AO spoke at the Horasis Asia Meeting on how the region’s many cultural differences can be faced, understood and acknowledged to derive a better future for all.

More

Managing the Next Stage of Globalisation

On 11 November, Corrs Partner and CEO John W.H. Denton AO presented to delegates at the 2016 China Advanced Leadership Program (CALP) on the next stage of globalisation.

More

A Trump Administration is a reality. So, now what?

We can still make intelligent decisions despite US policy under Donald Trump being so unclear.

More

Delivering Impact for the Asia Pacific: Challenges for Trade and Investment

On 21 October 2016, Corrs Partner and CEO John W.H. Denton AO participated in a panel discussion at the International Chamber of Commerce (ICC) Conference, Asia-Pacific: Transforming the Future. John is also the First Vice Chairman of the ICC.

More

Corrs CEO and ICC First Vice Chairman John W. H. Denton AO addresses B20 Summit in Hangzhou, China

Corrs CEO John Denton this week reinforced the importance of the international business community playing a part in shaping the G20 agenda ahead of the 2016 summit in Hangzhou.

More

Leaving nothing to the imagination

Discriminatory practices are outpacing liberalisation efforts by more than two-to-one around the globe. As world leaders gather for g20 in Hangzhou, Corrs CEO John Denton asks what role can business play in this landscape?

More

Doubling Australia’s trade with China will take a bold approach

Corrs CEO John Denton says this week’s Partnership for Change Report can maximise opportunities between Australia and China for the long term.

More

Asia and how Australia can engage at a time of global geopolitical uncertainty

On July 20, Corrs Partner and Chief Executive John Denton gave a speech to the Leading Education Circle on Asia and how Australia can engage at a time of global geopolitical uncertainty.

More

Growing Bilateral trade with China 一带一路

As China’s economic policy has evolved, Australia has constantly managed to keep pace. But are existing policy mechanisms sufficient to support Beijing’s latest transition?

More

Why trade matters: If jade is not carved, it doesn’t turn into jewellery 笑一笑,十年少

The powerful opportunities presented by Australia’s trade agreements.

More

Cutting red tape while ensuring quality control – rising to the challenge of export law reform

The Commonwealth Government is in the process of reforming Australia’s agricultural export legislation in recognition of the current regulatory complexity.

More

Will the year of the fire monkey burn corporate Australia’s ambitions in 2016?

Our key predictions on what Australia can expect from the Chinese year of the fire monkey.

More

It’s time to make good on the innovation nation and welcome foreign investment in agriculture

Treasury issued its report on Thursday 18 February 2016 - “Foreign Investment into Australia”.

More

Year of the Monkey – Riding the third wave

In 2015 China’s outbound M&A volume increased for the sixth consecutive year to a record high of $111.9 billion in 2015, breaching the $100 billion mark for the first time ever.

More

The challenge of building Australia’s gateway to the Indo-Pacific

The development of Northern Australia is attracting renewed investor interest and government support. What are the key challenges to developing Australia’s northern frontier?

More

Regional China rises: Australian businesses should venture beyond Shanghai and Shenzhen to ride the Project of the Century

The central Chinese city of Xi’an offers a wealth of business opportunity.

More

China’s economy: Whatever is going on?

The reaction of international markets to China’s stock market volatility says more about the precarious state of global confidence than China’s economy.

More

Investing in the Australian mining industry: A focus on coal and iron ore

Australia is a country with vast mineral wealth. This fact, coupled with its stable political, legal and economic environment, a highly skilled workforce, and a welcoming attitude to foreign investment, makes Australia a favoured destination.

More Download

China’s One Belt One Road - A new opportunity for Australian expertise

Australia’s strengths in delivering large projects are clearly aligned with China’s new infrastructure vision.

More

The Treasurer is right to have pushed for Australia to join the Asian Infrastructure Investment Bank

There is a clear connection between infrastructure and trade opportunities for Australia.

More

Modernising the foreign investment regime - Conditional approvals and enforceable undertakings

The ability to attach conditions to foreign investment approvals has been highly successful in Australia, but the policy needs changing so that it can be better enforced.

More

From Facebook friends to tomorrow’s leaders: Understanding the impact of demographic change in Asia

A new generation of Asian leaders is presenting opportunities to Australian businesses.

More

Connectedness: The key to unlocking Asia?

There is more than one strategy for dealing and engaging with Asia.

More

Changes to the foreign investment framework

Will Australia’s Foreign Investment Review Board’s new penalty and fee regime affect Australia’s attractiveness to foreign investors?

More

Australia's M&A market 2015 - Ten trends that are shaping the market

Conditions seem ripe for M&A in 2015. So, what’s driving the market and how can bidders and targets improve their prospects for deal success?

More

Free trade with China - What does this mean for Australian services firms?

Unprecedented market access to China puts Aussie businesses at a significant competitive advantage.

More

Is Australia still attractive to Chinese investors?

China’s investment appetite is changing, away from a focus on resources. What does this mean for Australia?

More

China’s hope to see the stars - CHAFTA the platform for collaboration

Under the Dome is a prime opportunity for Australian/Chinese collaboration and Australian business prospects.

More

Five aged care trends to watch

Australia’s aged care sector is transforming and there are opportunities aplenty.

More

How Chinese farmers can reap more than they sow

Capital and technology are key to helping Chinese farmers stay on their land.

More

One justice can overpower a hundred evils

China’s reform of its judicial system has real meaning for Australian companies doing business in China.

More

China’s tariffs on coal imports are being imposed to Australia’s chagrin but is this a question of throwing stones in glass houses?

Reinstating tariffs on coal provides China with a strong bargaining chip to push Australia to compromise on its treatment of Chinese imports.

More

China’s bans on foreign consulting firms are not about cybercrime

China’s policy moves are more about boosting its own consulting and professional services sector than about national security.

More

M&A Review: 2014 mid-year update

As we pass the first half of the calendar year, we have checked in on the state of the public M&A market and here are our top ten findings.

More

Investing in the Australian petroleum industry

The Australian resources sector is moving into a new era, with the future of the industry marked by major emerging opportunities in the petroleum industry.

More Download

Australia’s infrastructure deficit and China’s investment appetite: The perfect match?

China can and should be as an important investor in Australian infrastructure.

More

Boost in Chinese buyers is good news for Australian companies, but understanding the drivers for this is key

There have been more Chinese bidders in the public M&A market in the last three months than for the whole of 2013.

More

What do China’s MOFCOM’s recent merger clearance decisions mean for you?

Merger parties will be encouraged by MOFCOM’s willingness to use creative remedies to manage competition issues.

More

POE investors - Travelling a thousand miles in one day

2014 looks to be the year Chinese privately-owned investors will emerge as a force in cross border M&A.

More

First you get the money

Recent announcements by the Chinese government confirm the importance of private Chinese investors to Australia.

More

Making your mark in Australia: A guide for Chinese companies

There are opportunities for Chinese companies wishing to build their brands and business in Australia.

More

Third Plenum decision: A reform manifesto

China’s Third Plenum has set the course for a more open and market-driven China.

More

A passport to growth - A step closer to an Asia Region Funds Passport

Australia will join New Zealand, South Korea and Singapore in signing a statement of intent to formalise the Passport.

More

Why now is the time to break through to an Australia-China FTA and a suggested step in the right direction

Australia’s offer to soften regulatory scrutiny of Chinese investment is a golden opportunity for the FTA.

More

State-owned enterprises offer vast opportunities…but some governments just don’t get it

While suspicion and fear is driving some governments’ responses to SOEs, Australia’s response has been measured.

More

Breathing life into the Asian Century White Paper

A new Implementation Plan sets out the paths of action and time-frames to achieve the Australia in the Asian Century White Paper’s 25 key objectives.

More

Chinese outbound investment - The growing sophistication of China’s “Go Global” policy

China seems to be committed to its Go Global Policy and increasingly adept at managing legitimate competing policy objectives.

More

Chinese investment - A tale of two deals

In a fragile M&A market anxious about deal completion risk, how can Chinese investors give confidence to Australian targets and investors?

More

Solving Australia’s mining productivity problem

Australia can restore its competitive edge in resources but it requires serious reform.

More

Will the Asian Century be the rebirth or death of Australian manufacturing?

A rising Asia is both an opportunity and a threat to Australian manufacturers and not all will survive.

More

Reverse break fees payable upfront - The new name of the PRC M&A game

An innovative structure of paying reverse break fees as an upfront deposit provides targets with some protection from the risk of bidders walking away from a deal.

More

Australia’s irrational approach to trade with China

Is Australia jeopardising its goal of free trade with China for the sake of short term protectionism?

More

Sow a character, reap a destiny

Canada’s new policy on investment by State Owned Enterprises is a timely reminder that there is no monopoly on securing Chinese capital.

More

Chinese investment - A new, bolder approach

China’s private investment firms are emerging as a global investment force, but how does their investment approach compare to their state-owned cousins?

More

China's aging population

China's one child policy is showing its long term impact with an aging population. But other factors can off set some of this impact.

More

Managed funds in the Asian Century - A real opportunity for Australia?

Australia may have missed the opportunity to become the Asia Pacific financial services hub, but not the beacon of best practice.

More

Surfing the wave of the Asian Century

Opinion piece published in The Australian on Saturday 27 October by Asian Century White Paper panel member and Corrs CEO John W. H. Denton.

More

Capabilities - The key to connection

The Asian Century White Paper sets 25 national goals, but two stand out. The connections we make with Asia and the capabilities we need to do that.

More

A snapshot of the Asian Century White Paper

Thriving in the Asian Century will require a clear plan to seize the opportunities it will bring.

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Reform in China

The world watches reform in China closely. Some perceive that slower economic growth has an impact on reform. Is there a trade-off between the two?

More

Engaging with Asia: Are Australia’s law firms ready?

While opportunity abounds for Australia’s law firms to capitalise on growing trade and investment flows, success will be elusive in the absence of proper engagement.

More

Balanced growth in China

China's growth has been born out of market imbalances. So what does it mean for China to have a goal of balanced growth?

More

China and India

Analysts often liken China and India in terms of growth. But the two are growing differently. Are there lessons here?

More

The significance of inflation in China

Inflation is a key economic indicator for China. Chinese leadership is keen to keep it under control for the sake of social stability.

More

Slower growth in China

Is China's phenomenal growth slowing? And if it is, what does that mean for the rest of the world?

More

Preparing business for the Asian Century

The Government's White Paper on Australia in the Asian Century outlines what the country needs to do to succeed in this challenge. John Denton looks at what business can do.

More

RMB currency reforms gather strength

As the Chinese government continues its reform, increasing numbers of Australian companies are discovering the benefits of trading in RMB.

More

The implications of explosive growth in China and India

The Asian Century phenomenon is having huge impacts worldwide.

More

A brief lesson on China's State Owned Enterprises

An influential part of the Chinese economy is in the hands of state owned enterprises. These are heavily concentrated in the heavy industry sectors of the Chinese economy in energy, steel, chemicals and other major areas of the Chinese economy.

More

Cultural understanding is key to Chinese literacy

Chinese literacy is not just about speaking Mandarin - it's just as important to have a thorough understanding of the differences, perspectives and practices of the Chinese culture.

More

China-Australia relations - The question of courtesy

Courtesy plays a very important role in the business world, but the approach of China and Australia is a key difference between the two nations.

More

High end products are the solution to Australia’s manufacturing woes, not more anti-dumping reforms

The Federal Government’s new legislation to strengthen the anti-dumping system, and Manufacturing Australia’s calls for reform, are misguided.

More

The internationalisation of China's currency

The gradual internationalisation of China’s currency is the beginning of a very important trend that is gaining momentum on a global scale.

More

Australia in the Asian Century - Foreign Investment 2010/11 Annual Report

At a time when Australia is considering its position in the Asian Century, the Foreign Investment Review Board has released its 2010/2011 Annual Report.

More

New SASAC rules signal greater transparency and accountability

There has been some suggestion that there is a “crackdown” by Chinese authorities on outbound foreign direct investment (OFDI) by Chinese State-owned Enterprises.

More

Crossing the river by feeling stones - China's internationalisation of the RMB

The currency swap agreement between Australia and China is a positive step forward in our relationship with our largest trading partner. But it’s about more than that…

More

Australia's place in China's urbanisation

Over 20 years, the Chinese population now living in cities has grown from 18-50%. This rapid urban migration has underpinned the biggest resources boom in world history and leaves many wondering how this impacts Australia's trade with China.

More

Change on the horizon for China-Australia relations?

China's upcoming leadership change has many guessing how it will impact Australia's relationship with the region.

More

What's the secret to doing business in China?

Business in China is a very different operating environment than Australia. So it’s very important to have good advice on the ground and to spend ample working out what it is you really seek to want to achieve.

More

China's role on the global stage

How will China's ongoing management of its currency in the international market impact economic reform and new policies within its borders?

More

Procurement from China - Managing expectations

We live in a global economy and face increasing pressures on price in delivering projects. How can companies in Australia and globally meet the challenge of finding ways to procure the most efficient product?

More

Challenges and choices: Universal service in Australia and China

Australia and China face similar challenges in the provision of universal telecommunications services to remote areas, providing an opportunity for knowledge sharing and co-operation between the two countries.

More

New rules for M&A in the PRC

Commencing 1 September 2011, China has a new ‘security review’ system for mergers and acquisitions of domestic enterprises by foreign investors.

More

Our Experience

COFCO Corporation’s investment in Proserpine Sugar

Corrs advised COFCO Corporation and its wholly-owned subsidiary Tully Sugar Limited on its proposed acquisition of the Proserpine Co-operative Sugar Milling Association Limited for A$120 million.

Power transformer investigation

On 29 July 2013 the Australian Anti-Dumping Commission initiated an anti-dumping investigation into exports of liquid dielectic power transformers with power ratings equal to or greater than 10 mega volt amperes and a voltage rating of less than 500 kilo volts from the People’s Republic of China, the Republic of Indonesia, Taiwan, Thailand and the Socialist Republic of Vietnam.

Corrs is assisting, in the investigation, a range of exporters of those types of transformers from China, Taiwan and Indonesia, as well as an end-user in Australia.

Round-up export investigation

Corrs has been advising the China Chamber of Commerce of Metals, Minerals & Chemicals in relation to an application by Nufarm and Accensi for the Australian Customs and Border Protection Service to investigate the alleged dumping of formulated glyphosate imported into Australia from China.

Formulated glyphosate is a weed killer and is marketed in Australia under a variety of names, including Round Up. The China Chamber of Commerce represents, among others, Chinese exporters of glyphosate.

Following an initial investigation by Customs, a review by the Trade Measures Review Officer, and a re-investigation by Customs, the investigation was ultimately terminated, and no anti-dumping measures imposed on exports from our client’s members.

Steeling Chinese exporters against customs investigation

When Australian Customs and Border Protection Service initiated dumping and subsidy investigations into exports of galvanised steel and plate steel from the People’s Republic of China and Taiwan, Corrs stepped in.

Corrs worked together with domestic Chinese and Taiwanese law firms to assist exporters of galvanised steel and plate steel from China and in Taiwan to respond to the investigation, which was initiated by Customs following an application by BlueScope Steel Limited, the sole producer of galvanised steel and plate steel in Australia.

Tai Shan Kam Kiu Aluminium Extrusion Co Ltd

After the Attorney-General imposed anti-dumping and countervailing measures on aluminium extrusions exported from the People’s Republic of China, Corrs represented the Kam Kiu group of companies in Federal Court of Australia proceedings challenging various aspects of the investigation and decision-making process, including a decision to vary the initial measures that had been imposed on our client’s exports.

Our challenge to that decision – made on the basis that it was out of step with WTO appellate caselaw - was successful, with the Federal Court determining that the measures should be treated as if they had never been varied.

Yancoal Australia Ltd's acquisition of Syntech Resources

Corrs Chambers Westgarth advised Yancoal Australia Ltd, a wholly owned subsidiary of Yanzhou Coal Mining Company in China, on its acquisition of Syntech Resources Pty Ltd.

Yancoal acquired a number of large thermal coal exploration and production assets located between Miles and Chinchilla in the Surat Basin, southern Queensland from GS Power Holdings LLP, including the Cameby Downs Mine. Syntech currently has JORC compliance coal resources of 723 million and reserves of 440 million tonnes.

The acquisition was made through the purchase of 100 per cent of the equity interests in Syntech Holdings Pty Ltd and Syntech Holdings II Pty Ltd by a Yancoal Australia.

The Corrs team was led by partners Andrew Lumsden and Bruce Adkins, and supported by senior associates David Sim and Franka Cheung and lawyers Maggie Wong and Jennifer Leung.

Click here to read the full media release.

Yanzhou Coal Mining Company’s $3.5 billion acquisition of Felix Resources

Yanzhou Coal became the first Chinese state-owned enterprise to acquire 100% of an Australian listed company through the A$3.5 billion acquisition of Felix Resources.

The deal featured an innovative undertaking whereby Yanzhou Coal would list Yancoal Australia on the Australian Securities Exchange by no later than the end of 2012, thereby guaranteeing public ownership.

Corrs advised Yanzhou Coal on what was the biggest ever Chinese deal in the Australian coal sector at the time.

The implementation of the transaction involved managing disclosures on three key stock exchanges - ASX, Shanghai and Hong Kong. A tight timeframe of only four months was met, even though all documents had to be translated and there were significant language and cultural differences that the team had to overcome.

Yanzhou Coal’s acquisition and sale of interests in the Ashton Coal Joint Venture (NSW) and Minerva Coal Joint Venture (QLD)

Corrs recently assisted Yanzhou Coal on its USD$250 million acquisition of a 30% interest in the Ashton Coal Joint Venture (Ashton JV).

The Ashton JV operates a major coal mine, the Ashton Coal Mine, which is an open cut and underground coal mining operation located near Singleton in New South Wales.

The Ashton Coal Mine produces semi-soft coking coal which is primarily exported to Asian steelmakers.

Yanzhou Coal had originally acquired a 60% interest in the Ashton JV following its acquisition of Felix Resources Limited (Felix Resources) (also advised by Corrs) in 2009, and as a result of this acquisition has increased its ownership of the joint venture to a 90% interest.

Corrs also assisted Yanzhou Coal in late 2010 with the sale of its 51% interest in the Minerva Coal Joint Venture (Minerva JV) located near Queensland’s Bowen Basin for AUD$201 million. The Minerva JV had also been acquired as a part of Yanzhou Coal’s acquisition of Felix Resources in 2009.

Our Thinking

M&A Year in Review 2016

Our latest M&A Year in Review highlights five key considerations ranging from pre-bid strategy during these uncertain times, through to the tactics necessary to edge deals over the line.

Chinese investment in Australia - The rooster crows before sunrise breaks the dawn

In this year of the Fire Rooster, Chinese investors will focus on healthcare and tourism in Australia.

Doing Business in Australia

Australia is an exceptional place in which to do business. Find out how we can help you develop your business in Australia.

Global Foreign Direct Investment: What Is New?

On 8 December, Corrs Partner and CEO John W.H. Denton AO participated in a panel session entitled ‘Global FDI: What is New?’ at the BOAO Forum for Asia Melbourne Conference: The Future of Globalisation.

Managing the Complexity of Asian Geopolitics

On 28 November, Corrs Partner and CEO John W.H. Denton AO spoke at the Horasis Asia Meeting on how the region’s many cultural differences can be faced, understood and acknowledged to derive a better future for all.

Managing the Next Stage of Globalisation

On 11 November, Corrs Partner and CEO John W.H. Denton AO presented to delegates at the 2016 China Advanced Leadership Program (CALP) on the next stage of globalisation.

A Trump Administration is a reality. So, now what?

We can still make intelligent decisions despite US policy under Donald Trump being so unclear.

Delivering Impact for the Asia Pacific: Challenges for Trade and Investment

On 21 October 2016, Corrs Partner and CEO John W.H. Denton AO participated in a panel discussion at the International Chamber of Commerce (ICC) Conference, Asia-Pacific: Transforming the Future. John is also the First Vice Chairman of the ICC.

Corrs CEO and ICC First Vice Chairman John W. H. Denton AO addresses B20 Summit in Hangzhou, China

Corrs CEO John Denton this week reinforced the importance of the international business community playing a part in shaping the G20 agenda ahead of the 2016 summit in Hangzhou.

Leaving nothing to the imagination

Discriminatory practices are outpacing liberalisation efforts by more than two-to-one around the globe. As world leaders gather for g20 in Hangzhou, Corrs CEO John Denton asks what role can business play in this landscape?

Doubling Australia’s trade with China will take a bold approach

Corrs CEO John Denton says this week’s Partnership for Change Report can maximise opportunities between Australia and China for the long term.

Asia and how Australia can engage at a time of global geopolitical uncertainty

On July 20, Corrs Partner and Chief Executive John Denton gave a speech to the Leading Education Circle on Asia and how Australia can engage at a time of global geopolitical uncertainty.

Growing Bilateral trade with China 一带一路

As China’s economic policy has evolved, Australia has constantly managed to keep pace. But are existing policy mechanisms sufficient to support Beijing’s latest transition?

Why trade matters: If jade is not carved, it doesn’t turn into jewellery 笑一笑,十年少

The powerful opportunities presented by Australia’s trade agreements.

Cutting red tape while ensuring quality control – rising to the challenge of export law reform

The Commonwealth Government is in the process of reforming Australia’s agricultural export legislation in recognition of the current regulatory complexity.

Will the year of the fire monkey burn corporate Australia’s ambitions in 2016?

Our key predictions on what Australia can expect from the Chinese year of the fire monkey.

It’s time to make good on the innovation nation and welcome foreign investment in agriculture

Treasury issued its report on Thursday 18 February 2016 - “Foreign Investment into Australia”.

Year of the Monkey – Riding the third wave

In 2015 China’s outbound M&A volume increased for the sixth consecutive year to a record high of $111.9 billion in 2015, breaching the $100 billion mark for the first time ever.

The challenge of building Australia’s gateway to the Indo-Pacific

The development of Northern Australia is attracting renewed investor interest and government support. What are the key challenges to developing Australia’s northern frontier?

Regional China rises: Australian businesses should venture beyond Shanghai and Shenzhen to ride the Project of the Century

The central Chinese city of Xi’an offers a wealth of business opportunity.

China’s economy: Whatever is going on?

The reaction of international markets to China’s stock market volatility says more about the precarious state of global confidence than China’s economy.

Investing in the Australian mining industry: A focus on coal and iron ore

Australia is a country with vast mineral wealth. This fact, coupled with its stable political, legal and economic environment, a highly skilled workforce, and a welcoming attitude to foreign investment, makes Australia a favoured destination.

China’s One Belt One Road - A new opportunity for Australian expertise

Australia’s strengths in delivering large projects are clearly aligned with China’s new infrastructure vision.

The Treasurer is right to have pushed for Australia to join the Asian Infrastructure Investment Bank

There is a clear connection between infrastructure and trade opportunities for Australia.

Modernising the foreign investment regime - Conditional approvals and enforceable undertakings

The ability to attach conditions to foreign investment approvals has been highly successful in Australia, but the policy needs changing so that it can be better enforced.

From Facebook friends to tomorrow’s leaders: Understanding the impact of demographic change in Asia

A new generation of Asian leaders is presenting opportunities to Australian businesses.

Connectedness: The key to unlocking Asia?

There is more than one strategy for dealing and engaging with Asia.

Changes to the foreign investment framework

Will Australia’s Foreign Investment Review Board’s new penalty and fee regime affect Australia’s attractiveness to foreign investors?

Australia's M&A market 2015 - Ten trends that are shaping the market

Conditions seem ripe for M&A in 2015. So, what’s driving the market and how can bidders and targets improve their prospects for deal success?

Free trade with China - What does this mean for Australian services firms?

Unprecedented market access to China puts Aussie businesses at a significant competitive advantage.

Is Australia still attractive to Chinese investors?

China’s investment appetite is changing, away from a focus on resources. What does this mean for Australia?

China’s hope to see the stars - CHAFTA the platform for collaboration

Under the Dome is a prime opportunity for Australian/Chinese collaboration and Australian business prospects.

Five aged care trends to watch

Australia’s aged care sector is transforming and there are opportunities aplenty.

How Chinese farmers can reap more than they sow

Capital and technology are key to helping Chinese farmers stay on their land.

One justice can overpower a hundred evils

China’s reform of its judicial system has real meaning for Australian companies doing business in China.

China’s tariffs on coal imports are being imposed to Australia’s chagrin but is this a question of throwing stones in glass houses?

Reinstating tariffs on coal provides China with a strong bargaining chip to push Australia to compromise on its treatment of Chinese imports.

China’s bans on foreign consulting firms are not about cybercrime

China’s policy moves are more about boosting its own consulting and professional services sector than about national security.

M&A Review: 2014 mid-year update

As we pass the first half of the calendar year, we have checked in on the state of the public M&A market and here are our top ten findings.

Investing in the Australian petroleum industry

The Australian resources sector is moving into a new era, with the future of the industry marked by major emerging opportunities in the petroleum industry.

Australia’s infrastructure deficit and China’s investment appetite: The perfect match?

China can and should be as an important investor in Australian infrastructure.

Boost in Chinese buyers is good news for Australian companies, but understanding the drivers for this is key

There have been more Chinese bidders in the public M&A market in the last three months than for the whole of 2013.

What do China’s MOFCOM’s recent merger clearance decisions mean for you?

Merger parties will be encouraged by MOFCOM’s willingness to use creative remedies to manage competition issues.

POE investors - Travelling a thousand miles in one day

2014 looks to be the year Chinese privately-owned investors will emerge as a force in cross border M&A.

First you get the money

Recent announcements by the Chinese government confirm the importance of private Chinese investors to Australia.

Making your mark in Australia: A guide for Chinese companies

There are opportunities for Chinese companies wishing to build their brands and business in Australia.

Third Plenum decision: A reform manifesto

China’s Third Plenum has set the course for a more open and market-driven China.

A passport to growth - A step closer to an Asia Region Funds Passport

Australia will join New Zealand, South Korea and Singapore in signing a statement of intent to formalise the Passport.

Why now is the time to break through to an Australia-China FTA and a suggested step in the right direction

Australia’s offer to soften regulatory scrutiny of Chinese investment is a golden opportunity for the FTA.

State-owned enterprises offer vast opportunities…but some governments just don’t get it

While suspicion and fear is driving some governments’ responses to SOEs, Australia’s response has been measured.

Breathing life into the Asian Century White Paper

A new Implementation Plan sets out the paths of action and time-frames to achieve the Australia in the Asian Century White Paper’s 25 key objectives.

Chinese outbound investment - The growing sophistication of China’s “Go Global” policy

China seems to be committed to its Go Global Policy and increasingly adept at managing legitimate competing policy objectives.

Chinese investment - A tale of two deals

In a fragile M&A market anxious about deal completion risk, how can Chinese investors give confidence to Australian targets and investors?

Solving Australia’s mining productivity problem

Australia can restore its competitive edge in resources but it requires serious reform.

Will the Asian Century be the rebirth or death of Australian manufacturing?

A rising Asia is both an opportunity and a threat to Australian manufacturers and not all will survive.

Reverse break fees payable upfront - The new name of the PRC M&A game

An innovative structure of paying reverse break fees as an upfront deposit provides targets with some protection from the risk of bidders walking away from a deal.

Australia’s irrational approach to trade with China

Is Australia jeopardising its goal of free trade with China for the sake of short term protectionism?

Sow a character, reap a destiny

Canada’s new policy on investment by State Owned Enterprises is a timely reminder that there is no monopoly on securing Chinese capital.

Chinese investment - A new, bolder approach

China’s private investment firms are emerging as a global investment force, but how does their investment approach compare to their state-owned cousins?

China's aging population

China's one child policy is showing its long term impact with an aging population. But other factors can off set some of this impact.

Managed funds in the Asian Century - A real opportunity for Australia?

Australia may have missed the opportunity to become the Asia Pacific financial services hub, but not the beacon of best practice.

Surfing the wave of the Asian Century

Opinion piece published in The Australian on Saturday 27 October by Asian Century White Paper panel member and Corrs CEO John W. H. Denton.

Capabilities - The key to connection

The Asian Century White Paper sets 25 national goals, but two stand out. The connections we make with Asia and the capabilities we need to do that.

A snapshot of the Asian Century White Paper

Thriving in the Asian Century will require a clear plan to seize the opportunities it will bring.

Reform in China

The world watches reform in China closely. Some perceive that slower economic growth has an impact on reform. Is there a trade-off between the two?

Engaging with Asia: Are Australia’s law firms ready?

While opportunity abounds for Australia’s law firms to capitalise on growing trade and investment flows, success will be elusive in the absence of proper engagement.

Balanced growth in China

China's growth has been born out of market imbalances. So what does it mean for China to have a goal of balanced growth?

China and India

Analysts often liken China and India in terms of growth. But the two are growing differently. Are there lessons here?

The significance of inflation in China

Inflation is a key economic indicator for China. Chinese leadership is keen to keep it under control for the sake of social stability.

Slower growth in China

Is China's phenomenal growth slowing? And if it is, what does that mean for the rest of the world?

Preparing business for the Asian Century

The Government's White Paper on Australia in the Asian Century outlines what the country needs to do to succeed in this challenge. John Denton looks at what business can do.

RMB currency reforms gather strength

As the Chinese government continues its reform, increasing numbers of Australian companies are discovering the benefits of trading in RMB.

The implications of explosive growth in China and India

The Asian Century phenomenon is having huge impacts worldwide.

A brief lesson on China's State Owned Enterprises

An influential part of the Chinese economy is in the hands of state owned enterprises. These are heavily concentrated in the heavy industry sectors of the Chinese economy in energy, steel, chemicals and other major areas of the Chinese economy.

Cultural understanding is key to Chinese literacy

Chinese literacy is not just about speaking Mandarin - it's just as important to have a thorough understanding of the differences, perspectives and practices of the Chinese culture.

China-Australia relations - The question of courtesy

Courtesy plays a very important role in the business world, but the approach of China and Australia is a key difference between the two nations.

High end products are the solution to Australia’s manufacturing woes, not more anti-dumping reforms

The Federal Government’s new legislation to strengthen the anti-dumping system, and Manufacturing Australia’s calls for reform, are misguided.

The internationalisation of China's currency

The gradual internationalisation of China’s currency is the beginning of a very important trend that is gaining momentum on a global scale.

Australia in the Asian Century - Foreign Investment 2010/11 Annual Report

At a time when Australia is considering its position in the Asian Century, the Foreign Investment Review Board has released its 2010/2011 Annual Report.

New SASAC rules signal greater transparency and accountability

There has been some suggestion that there is a “crackdown” by Chinese authorities on outbound foreign direct investment (OFDI) by Chinese State-owned Enterprises.

Crossing the river by feeling stones - China's internationalisation of the RMB

The currency swap agreement between Australia and China is a positive step forward in our relationship with our largest trading partner. But it’s about more than that…

Australia's place in China's urbanisation

Over 20 years, the Chinese population now living in cities has grown from 18-50%. This rapid urban migration has underpinned the biggest resources boom in world history and leaves many wondering how this impacts Australia's trade with China.

Change on the horizon for China-Australia relations?

China's upcoming leadership change has many guessing how it will impact Australia's relationship with the region.

What's the secret to doing business in China?

Business in China is a very different operating environment than Australia. So it’s very important to have good advice on the ground and to spend ample working out what it is you really seek to want to achieve.

China's role on the global stage

How will China's ongoing management of its currency in the international market impact economic reform and new policies within its borders?

Procurement from China - Managing expectations

We live in a global economy and face increasing pressures on price in delivering projects. How can companies in Australia and globally meet the challenge of finding ways to procure the most efficient product?

Challenges and choices: Universal service in Australia and China

Australia and China face similar challenges in the provision of universal telecommunications services to remote areas, providing an opportunity for knowledge sharing and co-operation between the two countries.

New rules for M&A in the PRC

Commencing 1 September 2011, China has a new ‘security review’ system for mergers and acquisitions of domestic enterprises by foreign investors.