Biden's AI executive order lays the foundation for AI export control rules; New Chinese super-financial regulator takes power away from existing state institutions; and U.S. orders immediate halt to some AI chip shipments to China.
Law firms may not simultaneously serve different parties in the same securities deal. IP courts now accept only major and complex utility model patents, technical secrets and computer software appeal cases. Online service providers shall require the provision of the true identity information of minors
China's proposed amendment of its state secrets law has alarmed foreign businesses; a U.S. Congressional committee will probe Sequoia over its China tech investments; and China will scrap its price cap on land sales to revive its property market
SAMR sets forth permit requirements for drug dealers. Lawful property rights of private enterprises is protected. Qualified third-party enterprises engaged in pollution prevention and treatment enjoy reduced tax rate.
U.S. further restricts export of chips to curb China's technological advancement; China bans domestic brokerages from offshore trading in order to stabilize its currency; and Chinese court continues to not recognize crypto lending in civil litigation cases
CAC relaxes cross-border data transfers by multinationals. A handler of key data or core data in the industry and information technology sector shall complete data security risk assessments. Intellectual property infringements are required to be identified when providing generative AI services.
China proposes to allow businesses to transfer certain types of data overseas without restrictions; IBM's former IT services arm Kyndryl plans to split its China business over data security rules and tech restrictions; and Shenzhen's government introduces initiatives to raise funding for local tech companies amidst U.S. tech restrictions
Beijing promotes free flow of ordinary data for foreign-invested enterprises. Shanghai allows free flow of foreign capital for foreign investors. Shanghai and Shenzhen Stock Exchanges prohibit shareholding reductions.
GGV capital is breaking up its business into two, separating its Asia partnership; A Shanghai court has recognized Bitcoin as a currency; and China eases capital controls in an effort to attract foreign investment.
China approves the U.S. listing plans of VIE-structured company CheChe; Chinese IP court helps mediate dispute between Dyson and Dreame; and CSRC proposes rules to encourage companies to pay their dividends
