What Financial Institutions Need to Know About China’s Recent Enforcement Measures on the Operation of Securities Business in the Mainland

Jianwei (Jerry) Fang and Rui Yang of Zhong Lun Law Firm analyze the implications of China’s new rules targeting the illegal operation of securities business in the Mainland by offshore institutions and their onshore affiliates, intermediaries and internet platforms, and offer practical guidance for foreign financial institutions to cope with recent enforcement trends

Latest News More News

A Guide to Investing in Southeast Asia and Middle East

In the News: US Enforcement of Divestiture Order; Chinese Container Manufacturers' Alleged Cartel; and Data Center PE Investments Leave China

Legislation Roundup: Pharma Data Protection, and Beijing and Guangdong Data Transfers

Navigating China’s New Regulations on Countering Unlawful Extraterritorial Jurisdiction: Key Rules and Practical Takeaways

Features & Analyses More Features & Analyses

Untangling the Gordian Knot in the Age of US and Chinese Innovation and Competition: 2025 Year in Review of US Policy Impacting China

In 2025, there was continuity and change in U.S. policy that impacted both Chinese and APAC investment into the U.S., and U.S. investment into China. For the investment community, a key question has become how to navigate the U.S. regulatory environment while maximizing business opportunities in the two jurisdictions. A U.S. corporate and regulatory lawyer at a U.S. firm helps make sense of the developments

April 02, 2026

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2025 Annual Review of US Litigation Involving Chinese Companies

Jianwei (Jerry) Fang, Haoyi Sun, Junda He and Yi Dai of Zhong Lun Law Firm examine and discuss the key types, trends, and observations in U.S. litigation involving Chinese enterprises in 2025

March 31, 2026

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2025 Annual Review of China’s Medical and Healthcare Industry: Legal and Regulatory Developments

Xiangxiang Ma of Anjie Broad Law Firm explores the key legal and regulatory developments affecting China’s vital healthcare sector in 2025

March 31, 2026

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Clarity, Expansion, and Vigilance: 2025 China Antitrust Year in Review

In 2025, China's antitrust landscape continued to evolve with greater sophistication across legislation, merger control, administrative enforcement, and litigation. Here, Huang Wei, Zhu Fan, Gao Chang and Chen Kexin of Tian Yuan Law Firm give an overview of the major developments and key takeaways

March 31, 2026

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Full Text Translations More Full Text Translations

• Provisions for the Protection of Trade Secrets

  商业秘密保护规定

  SAMR extends the protection of trade secrets to cover data and algorithms / CLP Reference: 5100/26.02.24 ; Promulgated: 2026-02-24 ; Effective: 2026-06-01

• Circular on Matters Relevant to Adjusting the Offshore Lending Business of Banking Financial Institutions

  关于调整银行业金融机构境外贷款业务有关事宜的通知

  PBOC and SAFE raise the leverage ratio for offshore loans of foreign banks / CLP Reference: 3600/26.04.11 ; Issued: 2026-04-11 ; Effective: 2026-04-11

• Announcement on Further Improving the System for the Delegated Review of Concentrations of Business Operators

  市场监管总局关于进一步完善经营者集中委托审查制度的公告

  SAMR delegates certain antitrust reviews to local market regulators / CLP Reference: 5000/26.03.19 ; Issued: 2026-03-19 ; Effective: 2026-08-01

• Q&A on Policies for Administration of the Security of Overseas Data Transfers (October 2025)

  数据出境安全管理政策问答 (2025年10月)

  CAC issues an Q&A to clarify exemptions of data transfer requirements. CLP Reference: 5600/25.10.31 ; Issued: 2025-10-31

• Announcement on Continuing Implementation of Enterprise Income Tax and Value-Added Tax Policies for Foreign Institutions That Invest in the Domestic Bond Market

  关于延续实施境外机构投资境内债券市场企业所得税、增值税政策的公告

  Tax exemption for foreign bond investors continues.

Law Digests More Law Digests

• People’s Bank of China, Ministry of Industry and Information Technology, State Administration for Market Regulation and Others, Measures for the Administration of the Online Marketing of Financial Products (Draft for Comments)

  中国人民银行、工业和信息化部、国家市场监督管理总局等金融产品网络营销管理办法 

  Financial institutions take responsibilities for online marketing of financial products via third-party platforms.

• State Administration for Market Regulation, Circular on Further Thoroughly Implementing the «PRC Anti-Unfair Competition Law»

  国家市场监督管理总局关于进一步贯彻实施《中华人民共和国反不正当竞争法》的通知

  China explores the extraterritorial application of China’s unfair competition laws / CLP Reference: 5000/26.03.25 ; Issued: 2026-03-25

• Supreme People’s Court and Supreme People’s Procuratorate, Interpretation of Several Issues Concerning the Application of the Law in the Handling of Criminal Embezzlement and Bribery Cases

  最高人民法院 最高人民检察院关于办理贪污贿赂刑事案件适用法律若干问题的解释 (二)

  SPC interpretation targets intermediaries in bribery acts / CLP Reference: 1430/26.04.10 ; Promulgated: 2026-04-10 ; Effective: 2026-05-01

• State Council , Provisions on the Security of Industrial and Supply Chains

  国务院关于产业链供应链安全的规定

  State Council departments may impose trade restrictions on foreign organizations that take restrictive supply chain measures against China / Promulgated: 2026-03-31 ; Effective: 2026-03-31

• Cyberspace Administration of China, Provisions for Simplified Measures for the Protection of Personal Information by Small-Scale Personal Information Handlers (Draft for Comments)

  国家互联网信息办公室小型个人信息处理者个人信息保护简化措施规定 (征求意见稿)

  Processing of personal information of less than 100,000 persons may apply public notification.