State Council applies more favorable oversight on venture capital funds. SAT clarifies activities that are not R&D. CAC revises cybersecurity products catalogue.
July 11, 2023
China Law News
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.
July 06, 2023China passes Foreign Relations Law countering foreign sanctions. Foreign financial institutions are offered same treatment as domestic counterparts in free trade zones. New rules are issued to regulate drones.
July 04, 2023Shake Shack and Starbucks were summoned by Shanghai for excessive data collection; Hong Kong rules that trustees of keepwell trusts can gain monetary compensation for contractual breaches; and European Union firms blame regulatory hurdles and limited market access for record low investment into China.
June 28, 2023SAMR sets forth particulars of special attention in concentrations of business operators, as well as explaining standard terms of consumer contracts. CSRC enhances the reform of the bond registration system
June 27, 2023The U.S. government is debating whether to renew the U.S.-China Science and Technology Agreement; AstraZeneca plans to break up its business in China and list it separately in Hong Kong; the Italian government applies Golden Power regulations to limit the influence of China's Sinochem on tyremaker Pirelli
June 21, 2023CSRC issues draft rules in a bid to regulate fund investment advisors. Data shall not be collected other than when facial recognition is active. Shanghai requires the establishment of a chief data officer system.
June 19, 2023China's data security laws lead to increasing costs for firms; CFIUS clarifies rules regarding the "completion date" for filing and requests for information from foreign investors; fewer firms are choosing Hong Kong for international arbitration due to the National Security Law
June 14, 2023The National Information Security Standardization Technical Committee issues guidelines on assessing network data risks. CAC issues a law draft regulating cybersecurity when using Bluetooth and Wi-Fi. Foreign institutions may not collect PRC human genetic resources.
June 09, 2023Chinese 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.
June 07, 2023
