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.
CAC prohibits violent online information.
More requirements are specified for agreements on international human genetic resources cooperation.
Tax is a key consideration when divesting a foreign investment, with a number of implications for a company's bottom line. Daisy Duan, Wang Yan and Chen Xiaohong of King & Wood Mallesons highlight the main impacts when exiting a Chinese investment
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
AI service providers are required to protect users' personal information. More requirements are specified for agreements on international human genetic resources cooperation. CAC prohibits violent online information.
SAMR sets forth particulars of special attention in concentrations of business operators
CAC revises cybersecurity products catalogue
Jue Li and Joel Evans of DaHui Lawyers look at the difficulties foreign investors face when divesting from China, in particular those associated with dissolution and non-bankruptcy liquidation.
