UK NSI Act update may bring new opportunities for foreign companies; Fund registration and operational requirements are relaxed to lower cost of foreign investment in China capital markets; and NFT theft is considered criminal theft due to its property and data characteristics.
Revised state secrets protection law specifies acts of violation. State Cryptography Administration issues rules on security assessment of commercial cryptography, as well as qualifications for commercial cryptography testing institutions.
China bans those holding state secrets from traveling abroad during the 'confidentiality period'; the European Union requires Alibaba's subsidiary AliExpress to provide information on its measures to deal with illegal products; and the British fashion retailer Missguided is now under the management of SHEIN
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
