SEC begins asking Chinese companies for more VIE-related disclosures; SPC publishes model cases involving labor disputes as "996" crackdown continues; and CAC publishes draft rules for algorithm recommendation services
The official Personal Information Protection Law provides for transfer of data handling.
Important auto data requires a security assessment when transferred overseas. Corporate deregistration is made easier.
Hong Kong has played a key role in familiarizing PRC clients with tightening ESG requirements, lawyers say, and it will continue to do so as the city further bolsters rules in this area
National People's Congress passes landmark personal information protection law; SAMR releases draft unfair competition rules for internet industry; and State Council finalizes long-awaited draft on CII operators
Edward Tung, legal counsel for Hong Kong-based venture capital firm ORI Capital, discusses the growing importance of ESG, the rise of special purpose acquisition companies (SPACs) and the advantage of having scientific expertise when representing healthcare and biotechnology companies.
State Council promulgates regulations helping define critical information infrastructure. SPC defines business ethics in the context of unfair competition. SAMR prohibits unfair competition acts online.