China meets executives of international firms in order to reassure them over data security regulations; CSRC seeks regulatory opinion for the frist time for overseas listing; and Chinese automobile parts included in U.S. import detention over Xinjiang concerns
New draft measures on personal information protection compliance audits have been released for public comment. Jianwei (Jerry) Fang and Chuchen (Julie) Hou of Zhong Lun Law Firm analyze the legislative basis and specific requirements of the new draft, and provide some practical recommendations for PI processors who are planning for an upcoming compliance audit.
Companies that collect a large amount of personal information are required to conduct a compliance audit of its protection of personal information annually
Facial recognition may not be carried out if other non-biometric identification technology solutions are available
People's Bank of China issues rules restricting cross-border transfer of its business data
A new set of Measures have been published by the People's Bank of China. In this article, Zhou Yang of Jingtian & Gongcheng examines the provisions and reveal how they will impact and assist data handlers in the financial sector
AI service providers are required to protect users' personal information
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.
U.S. senators propose amendment to defense bill requiring the tracking of U.S. investments in China; Foreign firms are accelerating their push to decouple their data in China from the rest of the world; and China's commerce minister pledges to open up more opportunities to foreign pharmaceutical firms in a roundtable meeting
The CSRC targets screenshots of texts in Chinese social media containing speculative news affecting share prices; Management fees of mutual funds are decreased to encourage investment activity; and Delistings are reaching record levels as Chinese listing rules tighten.
