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.
A number of preferential tax policies have recently been extended for four years, with implementing circulars also providing important clarifications on applicable rules. Daisy Duan, Wang Yan and Li Cuishi of King & Wood Mallesons explore the details.
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
CIETAC accepts application for early dismissal of arbitration claims. SAMR does not compel an enterprise to separately establish a compliance system for concentrations of business operators. China issues rules for data asset appraisal.
