EU Commission releases guidance on updated standard clauses for GDPR-regulated parties; Xiaohongshu invests in US-based Web3 startup; Regulations on price labelling and price gouging
Certification institutions may be engaged for data security certification. Shanghai encourages pre-reorganization to avoid bankruptcies. Business operators should clearly mark prices and the pricing units/methods.
Banks and insurance companies to boost green finance development; PRC courts to develop standard uses of blockchain technology by 2025; strengthened internal management requirements ensures probity of intermediaries
Social insurance reductions are extended to the manufacturing industry. Banks are required to apply the expected credit loss method. Securities, accounting and law firms shall strengthen their management of insider information.
Potential economic downturn prompts the State Council to announce multiple significant measures aimed at supporting SMEs and foreign trade enterprises, and unlocking value in existing infrastructure projects.
Shanghai and Shenzhen Stock Exchanges issue rules on corporate science and technology innovation bonds. CNIPA issues guidelines assisting the catering industry in trademarking their names. Banking and insurance institutions shall safeguard consumers' right to fair trading
PBOC lowers first-home buyer interest rates by 0.2%; Shenzhen establishes China's first ABS credit protection certificate; CSRC promulates prescriptive rules on public fund managers
Foreign investment catalogues continue to encourage foreign investment in manufacturing. CBIRC has new requirements for insurance capital investment in financial products. Liability for damages shall be borne for ecological and environmental destruction in addition to the criminal liability.
Chinese court imposes stringent requirements on NFT marketplaces to monitor copyright compliance; New rules on dissemination of false and price-sensitive information and pricing; Heightened burden on live-streaming platforms to protect minors
Guidelines on certification of personal information protection for cross-border PI data transfers are set forth. Business cooperation in retirement financial business between banking and insurance institutions is supported. MOJ allows for overseas remote video notarization.
