State Council has lowered the investment capital percentage requirements, the QFII system is streamlined and the entry conditions for foreign insurance companies are relaxed.

CAC specifies procedures for reporting of cybersecurity threats

Fang Zhou and Yue (Brett) Zhang of JunHe review the old regulatory system of cryptography law and how the newly introduced PRC Cryptography Law brings a more flexible approach for cipher products to flourish in China.

The State Administration for Market Regulation prohibits bad faith trademark registrations

New consumption tax draft law puts State Council center stage; major mobile apps caught for illegal data collection practices; and NPC launches online platform for submitting constitutional review requests

China will set up a punitive damages system for intellectual property infringements

Law drafts are released on value-added and consumption taxes redefining eligible taxpayers while online audio and video information service providers are required to establish a rumor refutation mechanism.

Encryption security standards are set for critical information infrastructure

Frank Jiang and Emily Xu of Zhong Lun Law Firm highlight the newly introduced regulations aimed at foreign-invested banks and insurers to encourage foreign investors to expand their presence in China and strengthen the competitiveness in the financial sector