Crypto-fundraising criminally outlawed; Delisting process to be streamlined and modernized; Controversial anti-spying initiative comes to an end
Important and core data are required to be stored in mainland China
Shanghai issues the first data compliance guidelines
Interbank bond market to see changes in subject bond requirements, documentation, risk management, and collateral; rules governing processors of "important and core data" are tightened; Ministry of Education aims to strengthen enforcement actions against non-compliance private tutoring institutions
2021 regulatory trends in China, including antitrust, data privacy, sanctions, healthcare, PE/VC, capital markets, IP, banking & finance, TMT and arbitration.
Overseas listings of data processors will be subject to cybersecurity reviews
A mobile app distribution platform is required to authenticate the true identity information of app providers
Throughout 2021, China's legislative and enforcement authorities accelerated their all-encompassing regulation of the country's TMT sector, from anti-monopoly enforcement against internet platform giants to further crackdowns on cryptocurrencies, as well as tightening controls on the Internet content industry and online games. Casper Sek of Jingtian & Gongcheng discusses these challenges and the broader context of the regulators' continuing positive attitude towards new technology and overarching goal of safeguarding national security.
Kevin Yuan, Lucca Li and Jocelyn Chen of FenXun Partners discuss China's efforts to support continuous financial innovation in 2021 based on steady development including taking steps to protect the security of personal data in the midst of rapid developments in finance and technology, implementing detailed rules and new initiatives related to fintech innovation, and taking clear steps to open up the financial market to the outside world.
Chinese IPOs in the United States have slowed for several years now, but a raft of regulatory developments in the past year mainly driven by cybersecurity and national security concerns have likely rung the closing bell
