Technology Media and Telecom

China's much-anticipated national carbon trading market sees carbon price rise on first day of trading; MIIT, CAC forbid sharing of cybersecurity vulnerabilities information with overseas entities; and Biden administration adds dozens more Chinese companies to export control blacklist

Data that have a bearing on national security are subject to more stringent administration

PRC companies wanting to list outside China face extended cybersecurity reviews and potentially burdensome documentation submission requirements

CAC releases updated draft cybersecurity review measures to cover overseas listings; HKEX to launch T+2 settlement platform in Q4 2022 at the earliest; and Guangdong outlines data sharing plans for GBA

First high-profile cybersecurity reviews indicate that overseas-listed Chinese tech firms are prime targets for new cybersecurity regime

Cybersecurity review office investigates U.S.-listed Chinese tech giant Didi and others; CSRC updates disclosure rules for listed companies, strengthens ESG provisions; and Shenzhen legislature completes second reading of country's first intelligent vehicle rules

Rongwei (Ron) Cai, Jianwei (Jerry) Fang, and Dianmeng Zhu of Zhong Lun Law Firm introduce the newly enacted PRC Data Security Law, highlight the core data security protection obligations imposed on companies, and set out steps companies should be taking immediately in order to ensure compliance

Shenzhen imposes heavy penalties to protect data privacy

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