President Joe Biden's much-anticipated "Reverse CFIUS" executive order, which will require the screening of U.S. investments into China, will not apply retroactively, at least initially; The PBOC drafts rules on data security for its own business areas; and China aims to inject private captial into national infrastructure projects.
Edward Tung, legal counsel for Hong Kong-based venture capital firm ORI Capital, discusses his firm's response to U.S. sanctions on Chinese companies, U.S. restrictions targeting foreign companies, artificial intelligence laws in China, and new ESG guidelines.
No Chinese companies have successfully listed overseas due to tight scrutiny from domestic regulators; A Beijing company succeeds in making a SCC filing for the cross-border transfer of data; and China announces measures to open up free trade zones in order to lure back foreign investors.
Chinese tech entrepreneurs are considering moving out of China in order to overcome U.S. tech restrictions; Hong Kong publishes guidelines for virtual asset operators and the licensing process; and China's proposal to impose restrictions on private securities funds causes controversy.
Shipping firms are demanding their Chinese counterparts include break clauses in contracts over concerns about sanctions; Florida and Montana have introduced laws restricting Chinese nationals from owning land; and China is investing in training and research of blockchain technology despite its harsh cryptocurrency crackdown;.
Hangzhou Court applies copyright and unfair competition law to protect virtual human intellectual property in the absence of specific legal provisions; Hong Kong's loosened cryptocurrency rules attract Chinese state-owned banks; and increased regulatory scrutiny pushes Chinese investment in Europe to an 8-year low
Timothy Bickham, Stephen Yang and Lin Yang of Steptoe & Johnson examine the impact of a tough new IP law on foreign companies conducting business in the U.S
China regulates generative AI to mitigate risks of the technology; Anti-corruption campaign targets executives in the financial sector; and New IPOs perform well
The U.S. Copyright Office suggests that some types of AI-generated content may be copyrighted; Big Four auditing firm Deloitte's Beijing Office was fined US$31 million for deficiencies in its audit of Huarong; and Chinese government officials have pledged to allow foreign firms to list when conditions are "mature."
The U.S. approved nearly 70% of license applications for exporting goods and technology to blacklisted Chinese firms in 2022; Shenzhen and London Stock Exchanges sign agreement to implement a Shenzhen-London Connect; and online-generated credit reports replace "no illegal record" certificates in Shanghai
