A proposed TikTok bill could give rise to a U.S. equivalent to the VIE structure; The EU's new AI Act has a wide scope that could affect Chinese firms; and Quant funds respond to regulators' crackdown of their industry.
Special audits may be required targeting personal information and data security compliance. Shanghai FTZ exempts stamp tax for offshore trade. The carrying out of specialized subcontracting of road works is encouraged
U.S. government agencies publish compliance note for foreign persons regarding sanctions and export controls; The European Union to ban products made with forced labor; and U.S. bill aims to protect data that would reveal the personal health and genetic information of Americans.
Work secrets are also required to be kept confidential. Limited liability companies are required to have their capital contributions paid in full in five years. Criteria for providing classified surveying and mapping product to a foreign party are set forth.
