Banking and Finance Laws

Three Chinese companies ordered out of Canada's lithium industry; CFIUS publishes first-ever enforcement and penalty guidelines; and China’s metaverse IPO starts in Hong Kong.

CBIRC revises regulations to achieve equal treatment for domestic and foreign bank investment

CSRC plans to exempt foreign investors from short-term profit rules; Foshan Government vastly increases financial support for overseas IP protection; BNP Paribas gains regulatory approval from CBIRC for wealth management joint venture with Agricultural Bank of China.

Shenzhen issues rules for the country's first register of personal bankruptcy administrators

Banks are encouraged to take railroad transport documents as documents acceptable for settlement and financing.

Guidance for CFIUS assessments; Possibility of PBOC intervention against falling RMB; China leads in blockchain patent applications

A wealth management company is required to continuously track the changes in the risk monitoring indicators of each wealth management product

PCAOB and Beijing reach audit agreement to prevent mass delisting; U.S.-China merger abandoned following U.S. antitrust investigation; new compliance rules for wealth management companies

Zhenyu Ruan, Yangdi Zhao of Baker McKenzie FenXun (FTZ) Joint Operation highlight notable legal developments in the three main legal areas of the virtual world called the metaverse, namely cryptocurrency regulation, NFT copyright infringement and data privacy

Loan prime rates slightly lowered; 3-year development blueprint for the Lingang Free Trade Zone unveiled; New rules on exercise of administrative discretion