Legal

European Union takes China to World Trade Organization over patent anti-suit injunctions; China sanctions U.S. defense giants under anti-foreign sanctions law; and ride-hailing operators on notice to increase compliance

CSRC issues new rules on qualifications of senior securities executives. Domestic and foreign Stock Connect is expanded to include bourses in Shenzhen, Switzerland and Germany. Pre-set applications on mobile devices should allow uninstallation.

Important and core data are required to be stored in mainland China

Shanghai issues the first data compliance guidelines

Interbank bond market to see changes in subject bond requirements, documentation, risk management, and collateral; rules governing processors of "important and core data" are tightened; Ministry of Education aims to strengthen enforcement actions against non-compliance private tutoring institutions

Important and core data are required to be stored in mainland China. Shanghai issues the first data compliance guidelines. Favorable tax policy is offered to REITS.

Financial institutions are given due diligence instructions on corporate customers

Financial institutions shall bear management responsibilities when engaging third-party online marketers for their financial products

2021 regulatory trends in China, including antitrust, data privacy, sanctions, healthcare, PE/VC, capital markets, IP, banking & finance, TMT and arbitration.