Cybersecurity

OFAC prohibits U.S. investments in AI company SenseTime, Hong Kong listing postponed; CBIRC to remove foreign ownership cap for insurance asset management firms; MIIT orders removal of 106 apps over data violations

China publishes its GDPR law

The U.S. adds 12 Chinese entities to its export blacklist; Rules regulating listed companies to be consolidated; Didi ordered by regulators to delist from NYSE

Data processors may not take biometric features as the sole method of authenticating individuals' identities

Compliance advice that recognizes business necessities is crucial for effective in-house work

Apps are required to inform users of third party use of their personal information

Different types of internet platforms bear different responsibilities

Jianwei (Jerry) Fang and Runyang Liu of Zhong Lun Law Firm highlight provisions from the newly released Measures for the Security Assessment of Overseas Transfer of Data (Draft for Comments) issued by the Cyberspace Administration of China (CAC) and discuss the issues arising out of outbound data transfer

Hong Kong IPOs also subject to cybersecurity review; social, sustainability bond issuance pilot for foreign issuers; and U.S. law bars new equipment licenses for Chinese telecoms firms