The U.S. released new regulations that will bring SPAC disclosure requirements more in line with traditional IPOs; First Chinese VC firm is included in U.S. Defense Department's military-related company list; and China is working on expanding its Anti-Money Laundering Law to cover virtual assets
Antitrust filing thresholds are raised. Jiangsu lists matters covered in the registration of intellectual property rights in data. The limit on a commercial property loan may not exceed 70% of the appraised value of the property.
Shanghai plans a three-tiered cross-border data flow regime in the Lingang free trade zone to boost foreign investment; the U.S. proposes a "know your customer" regulation for cloud computing companies over China AI concerns; and a bill introduced in Congress called the BIOSECURE Act, is designed to broaden current sanctions on China
U.S. Commerce official expects higher penalties for violations of U.S. export controls; Shein must satisfy both the U.S. and China to pull off its IPO; and U.S. lawmakers work to further limit U.S. investment in Chinese tech sector.
Entities doing business in the U.S. must report information about their beneficial ownership to FinCEN; China bans researchers for listing AI-generated content as a co-author of their papers; and Italian Generali conducts first-ever foreign insurance acquisition in China
Jiangsu publishes the first guidelines on handling criminal cases involving trade secret infringement. Specific key data may be determined by the relevant authority in data transfer within the Greater Bay Area. Total asset requirements of main promoters of financial leasing companies are increased.
Thousands of cross-border data export applications await CAC approval; China continues to crack down on the use of cryptocurrency in foreign exchange transactions while Hong Kong proposes licensing them; and China again allows net-selling of stocks for mutual funds.
SPC clarifies application of international practice in foreign-related civil and commercial cases. Rules for deregistration of companies are revised. Revised Patent Law rules specify compensation requests for an invention patent term for a new drug.
