Banking and Finance Laws

Biden administration expands Trump-era investment ban on Chinese firms with alleged military ties; China customs names and shames foreign brands for importing defective children's products; and SAFE approves record QDII quota

Goldman Sachs receives initial approval for majority-controlled wealth management JV with ICBC; CBIRC finalizes wealth management product sales rules with new six month transition period; and government push for more financing options for agricultural firms

Liquidity management is the core requirement for issuance of short-term commercial paper by securities companies

Mini vandePol, Gerald Lam and Andrea Kan of Baker McKenzie and Vivian Wu of FenXun Partners set out the framework of the various U.S. and PRC sanction regimes, and discuss best practices for financial institutions to consider and implement

MEE issues carbon trading rules ahead of national market launch; PBOC expands ban on financial institutions providing crypto-related services; and CAC identifies 105 mobile applications for personal information collection violations

New rules are set out for banking and insurance permits

CAC issues draft rules tightening data security and privacy protection in auto industry; PCAOB releases proposed framework to implement delisting law; and BlackRock approved to begin operating majority-owned wealth management JV

Foreign banks are exempted from risk exposure requirements

European Commission releases draft regulation tightening requirements on foreign state-backed investors; Mainland-Hong Kong wealth link imminent following release of implementation rules; and Shanghai to trial first-ever options contract available to foreign investors