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Recently, Attorney Harry Yang, Founding Partner of iLead Law Group, was invited to the Oxford China Forum. Through an online video presentation, Attorney Yang shared the latest legal challenges and practical strategies for Chinese enterprises investing in the United States and navigating cross-border compliance. The forum focused on fostering dialogue and cooperation between the East and West in the fields of economics and law, with Attorney Yang’s presentation being one of the highlights of the event.
The Oxford China Forum, organized annually by students of the University of Oxford, serves as a bridge for exchange between the East and West in business, academia, and culture. The forum regularly invites renowned scholars, entrepreneurs, and policymakers to engage in in-depth discussions on China’s role in globalization. It is recognized as an important platform for the international community to engage with issues related to China.
In his presentation, Attorney Yang provided an in-depth analysis of the key provisions of the U.S. Corporate Transparency Act (CTA) and its implications for Chinese enterprises. The law, which came into effect in 2024, mandates businesses registered in the U.S. to disclose their Beneficial Ownership Information (BOI).
Attorney Yang noted that while the law aims to enhance business transparency and combat illicit financial activities, its reporting requirements could pose compliance challenges for Chinese enterprises entering the U.S. market for the first time. He highlighted the scope of the law and certain exemption conditions, such as special arrangements under trust structures and exemptions applicable to specific types of entities.
“The implementation of the Corporate Transparency Act is part of a global trend toward financial compliance,” Attorney Yang stated. “For Chinese enterprises competing on an international scale, it is critical to have a comprehensive understanding of various legal environments.” Drawing on his extensive professional experience, he also provided actionable advice through several case studies.
Attorney Yang’s insights extended beyond the legal interpretation of the CTA. He outlined several practical compliance recommendations:
1. Internal Due Diligence: Companies should review their shareholder structures and operational models to assess their BOI reporting obligations.
2. Optimizing Reporting Processes: Ensure that submitted information is accurate and complete while maintaining proper documentation for potential regulatory inspections.
3. Staying Updated on Legal Developments: Monitor court decisions at the state level concerning the CTA to adapt compliance strategies accordingly.
He emphasized that small and medium-sized enterprises (SMEs) and startups, in particular, need to strike a balance between business growth and compliance costs when entering international markets. “Not all companies are directly subject to the CTA, but understanding its core principles is essential for long-term development,” Attorney Yang said.
“Legal services should focus on solving real-world problems rather than merely providing technical answers.” Participation in the Oxford China Forum offered iLead Law Group a valuable opportunity to exchange ideas with international counterparts, while also showcasing the firm’s practical experience and industry insights in cross-border legal services.
Looking ahead, iLead Law Group will continue to monitor developments in the U.S.-China legal landscape and share practical legal expertise through forums, seminars, and other channels. The firm remains committed to helping its clients achieve greater success in the globalization process.
