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
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.
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.
In the light of important new guidelines to be followed when filing the standard overseas personal information transfer contract, Casper Sek of Jingtian & Gongcheng analyses the key learning points and looks at how companies may apply this in practice
China'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
