Calvin Klein parent PVH investigated by Chinese government after pulling out of Xinjiang; Chinese biotech firms targeted by U.S. BIOSECURE Act seek to sell U.S. subsidiaries; and China promises to protect private business while maintaining the existing economic order is still important.
Casper Sek and Alan Zhang of Jingtian & Gongcheng analyze the first court judgment on cross-border data transfer, which answers practical questions relating to the operation of the Personal Information Protection Law in the context of a hotel booking app, and prompts companies to review their privacy policies
Chinese court rules against international hotel brand for misuse of cross-border personal data; EU and China establish mechanism to address difficulties in data transfers; and High-frequency futures traders question their survival in an increasingly hostile Chinese futures market
U.S. lawmakers call on the government to scrutinize drugmakers' clinical trials in China; China removes restrictions for foreign investments in the manufacturing and services industries; and Cross-Boundary Wealth Connect gains 10 new additional securities firms for increased offshore investment opportunities.
Export pharmaceuticals commissioned for production from a foreign pharmaceutical manufacturer may not be sold and used in the PRC
Nasdaq questioned the identities and backgrounds of Chinese IPO investors; China rolls out new phase of Golden Tax System; and U.S. Congress attempts to prevent Chinese companies from using de minimis loophole to avoid tariffs
Revised Chinese Company Law requires mandatory worker representation in boardrooms; Shanghai's biomedical measures catch the most attention; and Merchants of Pinduoduo's international arm, Temu, struggle to sue the company due to its complex structure.
State Council relaxes foreign investment in value-added telecommunications services in five cities.
The U.S. has added additional Chinese companies to its Entity List and Unverified List; China's State Council has taken steps to encourage foreign venture capital in the tech sector; and Chinese electrolyzer manufacturers are "Europeanizing" their products in anticipation of an EU crackdown.
The U.S. publishes details on "Reverse CFIUS;" Shein's London listing might face obstacles; and two of the top 10 VC deals globally involve China, with much of the funding coming from Chinese state-backed investors.
