Banking and Finance Laws

CAC issues draft rules tightening data security and privacy protection in auto industry; PCAOB releases proposed framework to implement delisting law; and BlackRock approved to begin operating majority-owned wealth management JV

Foreign banks are exempted from risk exposure requirements

European Commission releases draft regulation tightening requirements on foreign state-backed investors; Mainland-Hong Kong wealth link imminent following release of implementation rules; and Shanghai to trial first-ever options contract available to foreign investors

Operators of critical information infrastructure bear heightened counter-espionage security obligations

China failing to protect U.S. companies' IP according to USTR report; French banking giant BNP Paribas applies for securities business; and PRC Futures Law submitted to NPCSC for first reading

Guangzhou Futures Exchange opens, offering hedging tools for imminent nationwide carbon trading market; PBOC removes eligibility of fossil fuel projects for green bond financing; and State Council approves services opening-up in four regions and cities

Operation of the interbank bond market is improved

HKEX proposes stricter ESG, corporate governance disclosures and standards; PBOC tightens rules surrounding anti-money laundering, terrorist financing efforts by financial institutions; and NDRC furthers Hukou reform with latest directive

CBIRC expands the scope of due diligence on banking customers