Banking and Finance Laws

State Council unveils strict rules barring for-profit tutoring companies; MIIT launches six-month campaign targeting internet industry bad practices; and UBS launches family trust services for wealthy clients

Contractual clauses dealing with the consequences of sanctions might be deemed as sanctions implementation or enforcement, potentially in violation of the new anti-foreign sanctions law

CBIRC defines affiliated transactions of banks and insurance companies

Hear from the in-house head at BlackRock CCB Wealth Management, China's second-ever foreign-controlled wealth management business

New China asset management rules tighten requirements on the due diligence of distributors

Shanghai energy exchange releases details of carbon emissions trading; first options products open to foreign investors begin trading in Shanghai, Dalian; and PBOC orders major banks and payment services institutions to clamp down on OTC crypto merchants

Private banking or insurance institutions shall establish a Party organizational structure

CBIRC approves China's first wholly foreign-owned money broker to begin operations; Chinese investment in Europe fell to decade low in 2020; and NDRC releases new rules standardizing disclosure and compilation requirements for price index providers

NPC adopts anti-foreign sanctions law in response to U.S., European restrictions; NPC adopts data security law with significantly increased penalties for illegal cross-border data transfer; and Shenzhen five-year plan promises greater financial services opening-up

Specific non-financial organizations are also subject to anti-money laundering obligations