SEC begins asking Chinese companies for more VIE-related disclosures; SPC publishes model cases involving labor disputes as "996" crackdown continues; and CAC publishes draft rules for algorithm recommendation services
Hong Kong has played a key role in familiarizing PRC clients with tightening ESG requirements, lawyers say, and it will continue to do so as the city further bolsters rules in this area
Edward Tung, legal counsel for Hong Kong-based venture capital firm ORI Capital, discusses the growing importance of ESG, the rise of special purpose acquisition companies (SPACs) and the advantage of having scientific expertise when representing healthcare and biotechnology companies.
Hong Kong buyers make first cross-border CCER deal under new national ETS; Arbitration Law proposed revisions released to align further with international practice; and Standard Chartered application for securities venture accepted by CSRC
JPMorgan becomes first fully foreign-owned securities venture in China; Fidelity approved to set up new fully-owned mutual fund business; and SEC approves new board diversity quota and disclosure requirements
SEC to require Chinese issuers clarify VIE structures and whether listing has government backing; SPC issues judicial interpretation with restrictions on commercial applications of facial recognition technology; and MOFCOM unveils separate negative list for cross-border trade in services in Hainan
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
CAC releases updated draft cybersecurity review measures to cover overseas listings; HKEX to launch T+2 settlement platform in Q4 2022 at the earliest; and Guangdong outlines data sharing plans for GBA
