The world's largest drone manufacturer fights allegations by the U.S. Defense Department, Commerce Department, and House of Representatives; Chinese government invests in Chinese startups after U.S. venture capital and private equity funds leave China; and Chinese insurance regulator approves insurance firms set up by BNP Paribas and Prudential.
Calvin Klein parent PVH investigated by Chinese government after pulling out of Xinjiang; Chinese biotech firms targeted by U.S. BIOSECURE Act seek to sell U.S. subsidiaries; and China promises to protect private business while maintaining the existing economic order is still important.
According to the Foreign Investment Law, the Five-Year Transition Period Deadline for FIEs to complete their adjustments pursuant to the law is approaching. Jianwei (Jerry) Fang, Qianwen (Emily) Gu and Chen (Cissy) Chen of Zhong Lun Law Firm analyze the specific requirements of the law and provide practical guidance for FIEs to identify and carry out relevant adjustments.
Bayer successfully files for the first cross-border data transfer in Beijing Free Trade Zone; Yuanbao plans to list on Nasdaq after some Chinese IPO successes, but setbacks also exist; and China's environmental regulator merges approval procedures to encourage private business
Casper Sek and Alan Zhang of Jingtian & Gongcheng analyze the first court judgment on cross-border data transfer, which answers practical questions relating to the operation of the Personal Information Protection Law in the context of a hotel booking app, and prompts companies to review their privacy policies
Jianwei (Jerry) Fang and Jiaying Jiang of Zhong Lun Law Firm discuss the newly released First Batch of Typical Cases for Ascertaining and Applying Foreign Law by the Supreme People's Court of China, and discover a significant shift of focus which will impact parties - and their attorneys - involved in international disputes
China allows fully foreign-owned hospitals and foreign investment in gene technologies; China is assessing the compatibility of the international AI agreement with its own strategic plans; and China's Ministry of Finance strengthens its regulation of foreign accounting organizations, particularly for those that do not have offices in China
Chinese court rules against international hotel brand for misuse of cross-border personal data; EU and China establish mechanism to address difficulties in data transfers; and High-frequency futures traders question their survival in an increasingly hostile Chinese futures market
U.S. lawmakers call on the government to scrutinize drugmakers' clinical trials in China; China removes restrictions for foreign investments in the manufacturing and services industries; and Cross-Boundary Wealth Connect gains 10 new additional securities firms for increased offshore investment opportunities.
