China meets executives of international firms in order to reassure them over data security regulations; CSRC seeks regulatory opinion for the frist time for overseas listing; and Chinese automobile parts included in U.S. import detention over Xinjiang concerns
Biden's new Executive Order simplifies the proposed "Reverse CFIUS" review process of outbound investment into China; Small hedge funds in China are threatened with a minimum asset requirement; and Shanghai Stock Exchange further scrutinizes medical companies as an anti-corruption campaign intensifies.
Processing of sensitive personal information may require written consent of the individual. Mobile smart terminals, applications and application distribution platforms shall provide information and services suitable for minors. Lenient treatment of environmental contamination may be allowed.
Processors of personal data face a new annual audit; Dentons leaves China - another case of data decoupling; China and Saudi Arabia in talks about ETF cross-listing
Companies that collect a large amount of personal information are required to conduct a compliance audit of its protection of personal information annually. Facial recognition may not be carried out if other non-biometric identification technology solutions are available.
Banks and insurance institutions are required to establish a basic system for the management of operational risks. Criteria are set forth for the recognition of critical railway information infrastructure. Shenzhen allows land payments made in installments.
China's securities watchdog instruct lawyers to tone down China-related risk disclosures in prospectuses; new rules restrict export of drones and related technologies; and bubble tea companies seek foreign listings amidst growing regulatory scrutiny
President Joe Biden's much-anticipated "Reverse CFIUS" executive order, which will require the screening of U.S. investments into China, will not apply retroactively, at least initially; The PBOC drafts rules on data security for its own business areas; and China aims to inject private captial into national infrastructure projects.
People's Bank of China issues rules restricting cross-border transfer of its business data. The National Administration of Financial Regulation permits overseas non-financial institutions to serve as investors in financial asset management companies. The financial requirements for establishing auto finance companies are substantially increased.
U.S. senators propose amendment to defense bill requiring the tracking of U.S. investments in China; Foreign firms are accelerating their push to decouple their data in China from the rest of the world; and China's commerce minister pledges to open up more opportunities to foreign pharmaceutical firms in a roundtable meeting
