Legislation roundup: Forex hedge, data privacy and private equity

It may trade directly with a domestic financial institution as a client or directly enter the interbank bond market to trade by applying to become a member of the China Foreign Exchange Trading System.

See the full translation.

Further reading

Circular on Matters Relevant to Further Facilitating Investment in the Interbank Bond Market by Foreign Institutional Investors

Circular on Issues Relevant to Control of the Foreign Exchange Risks of Foreign Institutional Investors on the Interbank Bond Market

Cybersecurity

Secretariat of the Cyberspace Administration of China, General Office of the Ministry of Industry and Information Technology, General Office of the Ministry of Public Security and General Office of the State Administration for Market Regulation, Methods for Determining Whether an App is Collecting and Using Personal Information in Violation of Laws and Regulations

国家互联网信息办公室秘书局、工业和信息化部办公厅、公安部办公厅、市场监管总局办公厅App违法违规收集使用个人信息行为认定方法

The following acts may be found to be "collecting and using personal information without the user's consent":

1. beginning to collect personal information or activating the authority for collecting personal information before securing the user's consent;

2. after a user has expressly expressed his/her non-consent, still collecting personal information or activating the authority for collecting personal information, or repeatedly seeking the user's consent or interfering with his/her normal use; and

1. the actual personal information collected or the activated authority for collecting personal information exceeding the scope of the user's authorization.

Further reading

Announcement on Launching a Campaign Against Apps That Collect and Use Personal Information in Violation of Laws or Regulations

Information Security Technology—Basic Specification for Collecting Personal Information in Mobile Internet Applications (App) (Draft)

Private Equity

Asset Management Association of China, Remarks on the Record Filing of Private Investment Funds

中国证券投资基金业协会私募投资基金备案须知

The following offering and investment activities that are not in keeping with the essence of "funds" fall outside the scope of record filing of private investment funds:

1. engaging in a disguised manner in the lending (deposit taking) business of financial institutions or directly investing in the credit assets of financial institutions;

2. engaging in regular, for-profit private lending activities, including but not limited to engaging in the aforementioned activities by means of entrusted loans, trust loans, etc.; and

2. engaging in a disguised manner in lending (deposit taking) activities by providing unconditional hard buyback arrangements and the fund returns being unconnected to the business performance or returns of the investment target.

Further reading

Zhuhai City, Tentative Measures for the Administration of the Pilot Foreign-invested Equity Investment Enterprise Project

Questions and Answers Concerning Registration and Record Filing of Private Funds (10)

Measures for the Administration of the Offering of Private Investment Funds