Legal

Guo Yongmao of Haiwen & Partners discusses the various types of taxes under the PRC tax regime that new companies must consider when setting up a business in mainland China and highlights how tax impacts investors of a PRC company if they are foreign entities when considering dividends distribution, interest payment and transfer pricing

CSRC permits Chinese companies to list overseas with VIE structure after filing; SEC updates disclosure guidance for China-based companies to highlight VIE risks; and Xinjiang forced labor ban signed into law

Both multinationals and domestic companies have already enacted changes to their internal policies and operations in response to China's new data and personal information processing requirements, from human resources management to customer privacy authorizations

CBIRC revises regulations to enhance the effective use of insurance capital. Wealth management companies shall consider impact of sales agency on liquidity risk. Project approval procedures are streamlined.

More details are required for working papers of securities sponsorship

China opens up its insurance brokerage market

PCAOB accuses PRC authorities of not allowing inspection and investigations of audits; E-commerce live streamer "Viya" fined USD$210 million for tax evasion and social media accounts suspended; and credit card regulation on the horizon

Important auto data requires a security assessment when transferred outside of mainland China

Live streamers may bear advertising liability. Commercial banks may calculate their exposure to the default risk of the derivative transaction counterparty on a net basis. Beijing is the first in the country to permit paid autonomous driving travel experience services.