China's cybersecurity laws are heavily enforced for businesses of all sizes; Chinese Gotion receives CFIUS approval to build an EV battery facility in Illinois; and Former SEC Chair proposes large public companies disclose their exposure to China
China announces that overseas taxpayers will be exempt from certain taxes until the end of 2027; China attempts to boost the secondary market by introducing a phased restriction on IPOs; and PRC People's Court recognizes virtual assets as property despite crypto ban
With the European Union's revised product safety rules coming into effect in December 2024, Chinese firms should take notice of major changes to the rules and how they can comply with them.
3M pays fine to settle bribery charges on its China subsidiary; China recognizes data as an asset in financial statements; and China revises company law to increase controlling shareholder responsibility in companies.
China meets executives of international firms in order to reassure them over data security regulations; CSRC seeks regulatory opinion for the frist time for overseas listing; and Chinese automobile parts included in U.S. import detention over Xinjiang concerns
New draft measures on personal information protection compliance audits have been released for public comment. Jianwei (Jerry) Fang and Chuchen (Julie) Hou of Zhong Lun Law Firm analyze the legislative basis and specific requirements of the new draft, and provide some practical recommendations for PI processors who are planning for an upcoming compliance audit.
Companies that collect a large amount of personal information are required to conduct a compliance audit of its protection of personal information annually
