Banks and insurance institutions are required to establish a basic system for the management of operational risks. Criteria are set forth for the recognition of critical railway information infrastructure. Shenzhen allows land payments made in installments.
China's securities watchdog instruct lawyers to tone down China-related risk disclosures in prospectuses; new rules restrict export of drones and related technologies; and bubble tea companies seek foreign listings amidst growing regulatory scrutiny
James Yong Wang and Ziyang Li from Jingtian & Gongcheng examine an unprecedented and significant new Regulation which represents the beginning of a new stage for the private investment fund industry in China
President Joe Biden's much-anticipated "Reverse CFIUS" executive order, which will require the screening of U.S. investments into China, will not apply retroactively, at least initially; The PBOC drafts rules on data security for its own business areas; and China aims to inject private captial into national infrastructure projects.
People's Bank of China issues rules restricting cross-border transfer of its business data. The National Administration of Financial Regulation permits overseas non-financial institutions to serve as investors in financial asset management companies. The financial requirements for establishing auto finance companies are substantially increased.
Tax is a key consideration when divesting a foreign investment, with a number of implications for a company's bottom line. Daisy Duan, Wang Yan and Chen Xiaohong of King & Wood Mallesons highlight the main impacts when exiting a Chinese investment
U.S. senators propose amendment to defense bill requiring the tracking of U.S. investments in China; Foreign firms are accelerating their push to decouple their data in China from the rest of the world; and China's commerce minister pledges to open up more opportunities to foreign pharmaceutical firms in a roundtable meeting