Technology Media and Telecom

CAC relaxes cross-border data transfers by multinationals

Casper Sek of Jingtian & Gongcheng examines the implications of a new set of draft provisions aimed at regulating and facilitating the cross-border flow of data

U.S. further restricts export of chips to curb China's technological advancement; China bans domestic brokerages from offshore trading in order to stabilize its currency; and Chinese court continues to not recognize crypto lending in civil litigation cases

Instructions are laid out for overseas transfer of key data

Beijing promotes free flow of ordinary data for foreign-invested enterprises

China proposes to allow businesses to transfer certain types of data overseas without restrictions; IBM's former IT services arm Kyndryl plans to split its China business over data security rules and tech restrictions; and Shenzhen's government introduces initiatives to raise funding for local tech companies amidst U.S. tech restrictions

Practice guidelines are issued specifying labeling of AI content

Processing of sensitive personal information may require written consent of the individual

GGV capital is breaking up its business into two, separating its Asia partnership; A Shanghai court has recognized Bitcoin as a currency; and China eases capital controls in an effort to attract foreign investment.