Simon Leung, Partner of Baker McKenzie, and Terry Xu, Senior Counsel at FenXun Partners, examine key regulatory shifts in 2024 and provide an outlook of potential regulatory trends for the banking and finance sector in 2025
February 24, 2025
Banking and Finance Laws
Calvin Klein parent PVH investigated by Chinese government after pulling out of Xinjiang; Chinese biotech firms targeted by U.S. BIOSECURE Act seek to sell U.S. subsidiaries; and China promises to protect private business while maintaining the existing economic order is still important.
October 16, 2024SPC sets forth criteria for serious money laundering cases / CLP reference:1430/24.08.19 ; promulgated: 2024-08-19 ; effective: 2024-08-20
September 13, 2024China allows fully foreign-owned hospitals and foreign investment in gene technologies; China is assessing the compatibility of the international AI agreement with its own strategic plans; and China's Ministry of Finance strengthens its regulation of foreign accounting organizations, particularly for those that do not have offices in China
September 11, 2024U.S. lawmakers call on the government to scrutinize drugmakers' clinical trials in China; China removes restrictions for foreign investments in the manufacturing and services industries; and Cross-Boundary Wealth Connect gains 10 new additional securities firms for increased offshore investment opportunities.
August 28, 2024PBOC specifies minimum registered capital requirements of non-bank payment institutions
August 16, 2024A QFII may select at its own discretion the currency it remits inwards to invest in domestic securities or futures
August 16, 2024Alleged receiving of kickbacks by senior executives in China could subject Adidas to Chinese, as well as German and U.S. investigations; U.S. convertible bond market is used to raise funds by Chinese big tech amid IPO restrictions; and EU tariffs may lead to localization of Chinese EV production.
June 21, 2024Measures are laid out for handling of sensitive data by banking and insurance institutions
April 12, 2024U.S. expands its ban on forced labor and restricts domestic companies from supplying Chinese microchip factories; NFRA publishes draft measures designed to improve loan syndication in China and align with international standards; and Chinese EV company CH Auto Technology merges with a Delaware SPAC company.
April 03, 2024
