New national security restrictions on investments by U.S. persons in sensitive technologies involving Chinese-controlled entities will affect due diligence and contracting practices for tech deals throughout Asia. Nathan Bush of DLA Piper examines the rules and their likely impact.
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
Beijing promotes free flow of ordinary data for foreign-invested enterprises. Shanghai allows free flow of foreign capital for foreign investors. Shanghai and Shenzhen Stock Exchanges prohibit shareholding reductions.
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.
