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.
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
AI service providers are required to protect users' personal information. More requirements are specified for agreements on international human genetic resources cooperation. CAC prohibits violent online information.
The CSRC targets screenshots of texts in Chinese social media containing speculative news affecting share prices; Management fees of mutual funds are decreased to encourage investment activity; and Delistings are reaching record levels as Chinese listing rules tighten.
State Council applies more favorable oversight on venture capital funds. SAT clarifies activities that are not R&D. CAC revises cybersecurity products catalogue.
No Chinese companies have successfully listed overseas due to tight scrutiny from domestic regulators; A Beijing company succeeds in making a SCC filing for the cross-border transfer of data; and China announces measures to open up free trade zones in order to lure back foreign investors.
China passes Foreign Relations Law countering foreign sanctions. Foreign financial institutions are offered same treatment as domestic counterparts in free trade zones. New rules are issued to regulate drones.
Shake Shack and Starbucks were summoned by Shanghai for excessive data collection; Hong Kong rules that trustees of keepwell trusts can gain monetary compensation for contractual breaches; and European Union firms blame regulatory hurdles and limited market access for record low investment into China.
SAMR sets forth particulars of special attention in concentrations of business operators, as well as explaining standard terms of consumer contracts. CSRC enhances the reform of the bond registration system
