U.S. Commerce official expects higher penalties for violations of U.S. export controls; Shein must satisfy both the U.S. and China to pull off its IPO; and U.S. lawmakers work to further limit U.S. investment in Chinese tech sector.
In 2023, significant U.S. restrictions were placed on Chinese interests. Charles Wu of Clyde & Co reviews the legislative changes, and offers practical insights into their potential impact, and the path forward in 2024
2023 was a significant year for the development of legislation and case law on intellectual property rights in China, as explored by Aggie Liu, Partner, and Hao Meng, Associate, from FenXun, which operates a joint legal platform with Baker McKenzie in China
Entities doing business in the U.S. must report information about their beneficial ownership to FinCEN; China bans researchers for listing AI-generated content as a co-author of their papers; and Italian Generali conducts first-ever foreign insurance acquisition in China
Jiangsu publishes the first guidelines on handling criminal cases involving trade secret infringement. Specific key data may be determined by the relevant authority in data transfer within the Greater Bay Area. Total asset requirements of main promoters of financial leasing companies are increased.
Current sanctions, the risk of future sanctions, and foreign investment controls are some of the increasingly prominent challenges facing merger & acquisition (M&A) deals involving Chinese parties this year. While there is no universal solution for each transaction, there are still ways parties and lawyers can minimize the risk of problems arising.
Thousands of cross-border data export applications await CAC approval; China continues to crack down on the use of cryptocurrency in foreign exchange transactions while Hong Kong proposes licensing them; and China again allows net-selling of stocks for mutual funds.