Industry coverage, allowance allocation, and compliance obligations are all expected to be ramped up under China's national carbon emissions trading scheme
CBIRC approves China's first wholly foreign-owned money broker to begin operations; Chinese investment in Europe fell to decade low in 2020; and NDRC releases new rules standardizing disclosure and compilation requirements for price index providers
NPC adopts anti-foreign sanctions law in response to U.S., European restrictions; NPC adopts data security law with significantly increased penalties for illegal cross-border data transfer; and Shenzhen five-year plan promises greater financial services opening-up
Entities and individuals may bear legal liability for failure to enforce or cooperate in the implementation of sanction countering measures. Data that have a bearing on national security or key public interest are subject to more stringent administration. Private banking or insurance institutions shall establish a Party organizational structure.
Biden administration expands Trump-era investment ban on Chinese firms with alleged military ties; China customs names and shames foreign brands for importing defective children's products; and SAFE approves record QDII quota
Specific non-financial organizations are also subject to anti-money laundering obligations. Restrictions on establishment of entertainment venues are relaxed for foreign investment. Shenzhen imposes heavy penalties to protect data privacy.
