China's internet regulator releases a draft of data protection law for public consultation; regulators take over Baoshang Bank due to serious credit risk exposure; and CSRC vice chair Yan Qingmin pushes for tougher penalties.
CAC lists the conditions when a cybersecurity review is required, push advertising should offer online users the option to refuse receipt of information, and economic and technology development zones will allow approvals with minor filing lapses.
As the U.S. targets Chinese high tech in the escalating trade war, China introduces more tax incentives to boost its domestic software and integrated circuitry sectors.
New tax incentives are issued for Chinese software and integrated circuitry companies, as international companies withdraw from Huawei's supply chain under U.S. pressure; former head of the CSRC, Liu Shiyu, is facing a likely corruption investigation; and China's private equity sector comes under CSRC scrutiny, with warnings issued to several firms.
The People's Bank of China and State Administration of Foreign Exchange have issued draft rules that will allow foreign investors to switch bond investments between China's foreign investment channels.
