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
The U.S. government is debating whether to renew the U.S.-China Science and Technology Agreement; AstraZeneca plans to break up its business in China and list it separately in Hong Kong; the Italian government applies Golden Power regulations to limit the influence of China's Sinochem on tyremaker Pirelli
CSRC issues draft rules in a bid to regulate fund investment advisors. Data shall not be collected other than when facial recognition is active. Shanghai requires the establishment of a chief data officer system.
China's data security laws lead to increasing costs for firms; CFIUS clarifies rules regarding the "completion date" for filing and requests for information from foreign investors; fewer firms are choosing Hong Kong for international arbitration due to the National Security Law
The National Information Security Standardization Technical Committee issues guidelines on assessing network data risks. CAC issues a law draft regulating cybersecurity when using Bluetooth and Wi-Fi. Foreign institutions may not collect PRC human genetic resources.
Chinese tech entrepreneurs are considering moving out of China in order to overcome U.S. tech restrictions; Hong Kong publishes guidelines for virtual asset operators and the licensing process; and China's proposal to impose restrictions on private securities funds causes controversy.
CAC sets forth guidelines for filing of standard contracts of overseas data transfers. Guidelines are proposed detailing when notification and consent is required from individuals when processing personal data. CNIPA defines irregular patent application acts.
British firms in China are concerned about the way China introduces new regulations and the vagueness of its laws; the European Union introduces additional product safety-related requirements for businesses selling products online to domestic consumers; Hong Kong seeks to allow offerors and their concert parties to vote in a shareholders' meeting regarding a firm's privatization.
