Outbound Investment

PBOC reaffirms nationwide ban on cryptocurrencies and related transactions; President Xi announces pause on coal-fired projects abroad; and PCAOB adopts final rule to implement US delisting regime

The HKEX has published a consultation paper to introduce its SPAC listing regime; US-China bilateral tech investment plummets 96%; and MIIT calls on telecoms and auto companies to strengthen data protection policies.

Enterprise income tax treatment of cross-border hybrid investments is clarified.

CBIRC approves China's first wholly foreign-owned money broker to begin operations; Chinese investment in Europe fell to decade low in 2020; and NDRC releases new rules standardizing disclosure and compilation requirements for price index providers

The Vietnamese government has tightened provisions surrounding national security and nominee transactions in its new foreign investment regime

European Commission releases draft regulation tightening requirements on foreign state-backed investors; Mainland-Hong Kong wealth link imminent following release of implementation rules; and Shanghai to trial first-ever options contract available to foreign investors

Chinese investors should prepare information about their operations and other investments in order to convince both sellers and regulators of their reliability

In fast-paced M&A auctions, potential Chinese buyers must ensure that they are not disadvantaged by the new rules or be perceived as such

FTSE Russell proposes index re-inclusion following Xiaomi court success; Commerce, FCC ramp up scrutiny of Chinese ICTS, telecom companies; and China bans Tesla from military bases over security concerns

Most high-tech MNCs expect greater difficulties in China even with more market access; Chinese investment in Australia plummets in 2020 amid pandemic and regulatory scrutiny; and China approves Schroders majority-owned wealth management JV