In the News: 'Reverse CFIUS' Will Not Apply Retroactively; PBOC Drafts Rules on Data Security; and China Encourages Private Investment in Projects

President Joe Biden's much-anticipated "Reverse CFIUS" executive order, which will require the screening of U.S. investments into China, will not apply retroactively, at least initially; The PBOC drafts rules on data security for its own business areas; and China aims to inject private captial into national infrastructure projects.