Instructions are laid out for overseas transfer of key data. Practice guidelines are issued specifying labeling of AI content. Individual income tax policy is extended for VC firms.
3M pays fine to settle bribery charges on its China subsidiary; China recognizes data as an asset in financial statements; and China revises company law to increase controlling shareholder responsibility in companies.
Guidelines are given for informing individuals of automated decision processing of their personal information. Website platforms are responsible for dealing with online enterprise-related infringement information. Banking and financial institutions should report the outcome of their assessment of the prevention and control of criminal case risks annually.
China meets executives of international firms in order to reassure them over data security regulations; CSRC seeks regulatory opinion for the frist time for overseas listing; and Chinese automobile parts included in U.S. import detention over Xinjiang concerns
Biden's new Executive Order simplifies the proposed "Reverse CFIUS" review process of outbound investment into China; Small hedge funds in China are threatened with a minimum asset requirement; and Shanghai Stock Exchange further scrutinizes medical companies as an anti-corruption campaign intensifies.
Processing of sensitive personal information may require written consent of the individual. Mobile smart terminals, applications and application distribution platforms shall provide information and services suitable for minors. Lenient treatment of environmental contamination may be allowed.
Processors of personal data face a new annual audit; Dentons leaves China - another case of data decoupling; China and Saudi Arabia in talks about ETF cross-listing
Companies that collect a large amount of personal information are required to conduct a compliance audit of its protection of personal information annually. Facial recognition may not be carried out if other non-biometric identification technology solutions are available.
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
