The scope of China's cross-border personal information transfer regulatory regime is edging closer to being finalized, but businesses are in no rush to overhaul their data transfer practices

Goldman Sachs set for full ownership of Chinese securities JV; U.S. Treasury fails to identify any financial institutions for secondary sanctions under Hong Kong Autonomy Act; FCC launches official review of China Telecom's operations in the U.S.

SPC clarifies producer and dealer's liability for food safety compensation, pre-tax deduction on advertising expenses continues for pharmaceuticals and leverage ratio is used as a criterion for evaluating systematically important banks

The draft Personal Information Protection Law introduces two new data transfer mechanisms that do not seem to directly require government approval

Insurance companies bear legal liability for authorized acts of their agents

Foreign financial institutions are allowed to invest in trust companies

U.S. House unanimously passes Holding Foreign Companies Accountable Act; China releases first export control list under new regime, targetting encryption technologies; CBIRC publishes shadow banking report, defining sector for first time

A party may file applications for arbitration enforcement with both the mainland China court and Hong Kong court respectively, e-commerce platforms are required to set guidelines for handling IP infringement and mobile apps are restricted to collection of necessary personal information.

The acceptance of the commitment of a business operator does not affect the determination of a monopoly act