Banking and Finance Laws

• Square Pegs in Round Holes: U.S. Investment and Technology Restrictions on Chinese Interests

  In 2023, significant U.S. restrictions were placed on Chinese interests. Charles Wu of Clyde & Co reviews the legislative changes, and offers practical insights into their potential impact, and the path forward in 2024

  January 24, 2024

  

• The Foreign Controls Challenges Facing China M&A

  Current sanctions, the risk of future sanctions, and foreign investment controls are some of the increasingly prominent challenges facing merger & acquisition (M&A) deals involving Chinese parties this year. While there is no universal solution for each transaction, there are still ways parties and lawyers can minimize the risk of problems arising.

  January 14, 2024

  

• In the News: China Approves Only One-Quarter of Cross-Border Data Transfers; China and Hong Kong Take Opposite Stances on Stablecoins; and China Reverses on Net-Selling Policy

  Thousands of cross-border data export applications await CAC approval; China continues to crack down on the use of cryptocurrency in foreign exchange transactions while Hong Kong proposes licensing them; and China again allows net-selling of stocks for mutual funds.

  January 10, 2024

  

• National Administration of Financial Regulation, Tentative Measures for the Oversight of the Regulatory Rating and Classification of Trust Companies

  国家金融监督管理总局信托公司监管评级与分级分类监管暂行办法

  Trust companies are rated for different levels of regulation

  December 18, 2023

• In the News: UK is Updating Investment Act; China Relaxes Rules for QFIIs; and Stealing NFTs is a Criminal Offense in China

  UK NSI Act update may bring new opportunities for foreign companies; Fund registration and operational requirements are relaxed to lower cost of foreign investment in China capital markets; and NFT theft is considered criminal theft due to its property and data characteristics.

  November 15, 2023

  

• In the News: US Regulates AI; Chinese Financial Super-Regulator Created; and NVIDIA Stops Chinese Chip Shipments

  Biden's AI executive order lays the foundation for AI export control rules; New Chinese super-financial regulator takes power away from existing state institutions; and U.S. orders immediate halt to some AI chip shipments to China.

  November 02, 2023

  

• Shanghai Municipality, Implementing Plan for the Implementation of the «Several Measures for Promoting Systematic Liberalization in Qualified Pilot Free Trade Zones and Free Trade Ports to Align with High International Standards»

  上海市落实〈关于在有条件的自由贸易试验区和自由贸易港试点对接国际高标准推进制度型开放的若干措施〉实施方案

  Shanghai allows free flow of foreign capital for foreign investors

  October 20, 2023

• In the News: US Reinforces Chip Export Controls; Brokers' Offshore Trading Ban; and Court Denies Crypto Lending

  U.S. further restricts export of chips to curb China's technological advancement; China bans domestic brokerages from offshore trading in order to stabilize its currency; and Chinese court continues to not recognize crypto lending in civil litigation cases

  October 18, 2023

  

• Beijing Municipality, Foreign Investment Regulations (Draft for Comments)

  北京市外商投资条例 (草案征求意见稿)

  Beijing promotes free flow of ordinary data for foreign-invested enterprises

  October 13, 2023

• In the News: Data Transfer Rules Loosened; Kyndryl Splits China Business; and Shenzhen Finances Tech Companies

  China proposes to allow businesses to transfer certain types of data overseas without restrictions; IBM's former IT services arm Kyndryl plans to split its China business over data security rules and tech restrictions; and Shenzhen's government introduces initiatives to raise funding for local tech companies amidst U.S. tech restrictions

  October 11, 2023