Legal

Shanghai plans a three-tiered cross-border data flow regime in the Lingang free trade zone to boost foreign investment; the U.S. proposes a "know your customer" regulation for cloud computing companies over China AI concerns; and a bill introduced in Congress called the BIOSECURE Act, is designed to broaden current sanctions on China

Total asset requirements of main promoters of financial leasing companies are increased

Shenzhen expands the scope of PE investments. CSRC clarifies M&A thresholds. Guidelines promote the revision of basic cloud computing standards

Jiangsu publishes the first guidelines on handling criminal cases involving trade secret infringement.

Specific key data may be determined by the relevant authority in data transfer within the Greater Bay Area

U.S. Commerce official expects higher penalties for violations of U.S. export controls; Shein must satisfy both the U.S. and China to pull off its IPO; and U.S. lawmakers work to further limit U.S. investment in Chinese tech sector.

In 2023, significant U.S. restrictions were placed on Chinese interests. Charles Wu of Clyde & Co reviews the legislative changes, and offers practical insights into their potential impact, and the path forward in 2024

2023 was a significant year for the development of legislation and case law on intellectual property rights in China, as explored by Aggie Liu, Partner, and Hao Meng, Associate, from FenXun, which operates a joint legal platform with Baker McKenzie in China

Entities doing business in the U.S. must report information about their beneficial ownership to FinCEN; China bans researchers for listing AI-generated content as a co-author of their papers; and Italian Generali conducts first-ever foreign insurance acquisition in China