Hong Kong national security law comes into effect with U.S. sanctions imminent; China launches wealth management connect scheme with Hong Kong, Macao; and NPC publishes draft Data Security Law tightening data protection rules
July 06, 2020
China Law News
Foreign investors are allowed controlling shareholding in securities companies, futures companies and life insurance companies according to the 2020 national and FTZ negative lists. Insurance companies are required to keep records of online insurance transactions.
July 03, 2020U.S. Senate passes bill threatening sanctions against financial institutions, officials over Hong Kong; China shortens negative lists to further open up economy to foreign investment; and CSRC plans to grant securities licenses to domestic commercial banks
June 29, 2020The period for reduction of social insurance payments of enterprises is extended, regulation on the controlling interests of securities companies is tightened and draft of the Criminal Law amendments targets financial crimes.
June 26, 2020Xinhua reveals details of planned Hong Kong national security law; JPMorgan becomes first fully-owned futures business following CSRC approval; and U.S. companies allowed to work with Huawei on next-generation technology standards
June 22, 2020The Supreme People's Court has issued the 3rd set of guiding opinions clarifying the trial of COVID-19 related force majeure cases. It has also published two law drafts on the burden of proof and amount of losses of trade secrets in IP cases.
June 19, 2020ChiNext finalizes reforms liberalizing listing process while tightening disclosure requirements; Hong Kong sees major secondary listings in quick succession with Nasdaq-listed NetEase and JD.com; and American Express becomes first foreign player approved to offer card-clearing services in China
June 15, 2020The Supreme People's Court has issued three law drafts clarifying the commercial value of trade secrets and liability of online service providers and e-commerce platform operators in IP infringement cases. Stricter regulation is imposed on lease financing companies in a bid to control risks.
June 11, 2020Major plan for Hainan to become globally-recognized free trade port released; Swiss bank Credit Suisse takes majority control of securities JV; and U.S.-China animosity extends to aviation industry with bans and walk backs
June 08, 2020Business financing is supported by allowing New Third Board companies to transfer and list on other boards, as well as allowing securities companies to publicly offer subordinated debt. Commercial cryptography products require certification.
June 05, 2020
