In the news: China passes Anti-terrorism Law, the NDRC fines 8 shipping companies and the IPO system is being reformed
December 30, 2015 | BY
Katherine JoThis week the PRC Anti-terrorism Law was approved to take effect on January 1, the NDRC fined foreign shipping firms $62 million for price fixing and regulators made progress towards adopting a registration system for IPOs
Foreign companies have criticized the new PRC Anti-Terrorism Law, which will go into effect on January 1, saying it has potentially over-arching data and security obligations. A National People's Congress official defended the move at a recent press conference, asserting that the law will not affect companies' normal business operations nor will the government install backdoors to infringe IP rights. MNCs are particularly worried about Article 18, which the official said requires telecom operators and ISPs to provide technical support and assistance, including decryption, to police and authorities in order to prevent and investigate terrorist activities. Some China watchers say the authorities could enforce this provision on companies under the guise of combating terrorism or protecting national security. Foreign companies have little choice but to comply, and take China's stated aim of fighting evil in good faith.
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