Foreign Direct Investment

Beijing promotes free flow of ordinary data for foreign-invested enterprises

China proposes to allow businesses to transfer certain types of data overseas without restrictions; IBM's former IT services arm Kyndryl plans to split its China business over data security rules and tech restrictions; and Shenzhen's government introduces initiatives to raise funding for local tech companies amidst U.S. tech restrictions

A number of preferential tax policies have recently been extended for four years, with implementing circulars also providing important clarifications on applicable rules. Daisy Duan, Wang Yan and Li Cuishi of King & Wood Mallesons explore the details.

GGV capital is breaking up its business into two, separating its Asia partnership; A Shanghai court has recognized Bitcoin as a currency; and China eases capital controls in an effort to attract foreign investment.

China approves the U.S. listing plans of VIE-structured company CheChe; Chinese IP court helps mediate dispute between Dyson and Dreame; and CSRC proposes rules to encourage companies to pay their dividends

Liu Yuxiang and Wu Qiong, labor law specialists at Haiwen & Partners examine the important and sometimes difficult labor law issues which can arise for foreign investors seeking to exit China

China announces that overseas taxpayers will be exempt from certain taxes until the end of 2027; China attempts to boost the secondary market by introducing a phased restriction on IPOs; and PRC People's Court recognizes virtual assets as property despite crypto ban

3M pays fine to settle bribery charges on its China subsidiary; China recognizes data as an asset in financial statements; and China revises company law to increase controlling shareholder responsibility in companies.

National Administration of Financial Regulation permits overseas non-financial institutions to serve as investors in financial asset management companies.