Manufacturing and service industries further opens up to foreign investment but loophole allowing foreign investment in restricted sectors is plugged; food producers warn of major disruptions as all foodstuffs now subject to import regulation; and trial macroprudential policy guidelines provide key definitions and high-level guidance for managing systemic financial risks
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
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
SAMR sets forth criteria for calculating illegal income
Public outrage at Canada Goose's discriminatory return policy; SEC rules implement submission and disclosure requirements for U.S.-listed foreign companies; e-cigarettes to be regulated as a tobacco product
Compliance advice that recognizes business necessities is crucial for effective in-house work
Apps are required to inform users of third party use of their personal information
Senior legal counsel discusses how IP rights must be proactively and creatively defended. China's strict scrutiny of its jewelry industry may further tighten, with specific AML rules expected to arrive in the near future.
