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Yuanmei Lu is special counsel in the Corporate Practice Group in the firm’s Shanghai office.

中国将对航空航天领域的技术、软件和设备实施出口管制措施

On May 30, 2024, the Ministry of Commerce of China (the “Ministry of Commerce”), the General Administration of Customs of China, and the Equipment Development Department of the Central Military Commission of China issued Announcement No. 21 of 2024 to implement export control measures on technology, software, and equipment in the aerospace sector (the “Measures”). The Measures will become effective on July 1, 2024. We have summarized the key provisions of the Measures in this post as follows:Continue Reading China to Implement Export Controls on Aerospace Technology, Software, and Equipment

China’s Company Law was initially enacted in 1993, and was subsequently amended in 1999, 2004, 2013, 2018, and 2005. On December 29, 2023, the Standing Committee of the National People’s Congress approved a comprehensive amendment to the Company Law (as amended, the “New Company Law”). The New Company Law will come into effect on July 1, 2024. Under the New Company Law, 228 articles have been amended, which will impact many aspects of the governance and operations of Chinese companies, including but not limited to a company’s capital structure, corporate governance, shareholders’ obligation to contribute capital, duties of directors and officers, the effects of corporate resolutions, corporate bonds, the registration of a company, etc. In this and a few subsequent posts, we will explain in more detail the changes introduced under the New Company Law.Continue Reading Amendment to China’s Company Law (1): Contribution of Capital and Authorized Capital Concept

中国正式发布《促进和规范数据跨境流动规定》

On March 22, 2024, nearly six months after the release of the “draft Provisions on Regulating and Promoting Cross-border Data Transfer” (the “Draft Rules”), the Cybersecurity Administration of China (the “CAC”) formally released the “Regulations on Facilitating and Regulating Cross-border Data Flow” (the “New Regulations”), which came into effect on the date of release.Continue Reading China Issues Regulations on Facilitating and Regulating Cross-Border Data Flow

On January 26, 2024, the State Council of China published the “Regulations of the Filing Threshold for Operators’ Concentration (2024 Revision)” (the “New Filing Threshold”), which took effect on the same day. This amendment to the filing thresholds for operators’ concentration will enhance the allocation of anti-monopoly enforcement resources, and represents another step China takes to improve its competition policy, and foster the development of a more transparent and efficient competition regulatory framework.Continue Reading China Raises Turnover Threshold for Anti-Monopoly Filing in M&A Deals

In September 2022, the Cyberspace Administration of China (the “CAC”) officially enacted the Measures on Security Assessment for the Cross-border Transfer of Data (the “Measures”). Under the Measures, an entity (the “data processor”) shall conduct a security assessment if its cross-border data transfer activities involves any of the following scenarios:Continue Reading Companies in Beijing are Submitting Application Materials Relating to the Security Assessment for Cross-border Data Transfer 

On September 28, 2023, the Cybersecurity Administration of China (the “CAC”) published a set of draft Provisions on Regulating and Promoting Cross-border Data Transfer (the “Draft Rules”) to solicit public comments. It has not been publicly announced when the Draft Rules will come into effect. Some legal practitioners speculate that they would take effect before the expiration of the grace period for filing the standard contracts as stipulated in Measures on the Standard Contract for Cross-Border Transfer of Personal Information[i]. However, these remain speculations and are not confirmed by the authorities in any official announcement.Continue Reading China Released Draft Rules Regulating and Promoting Cross-Border Data Transfer

On May 8, 2023, the National Health Commission of the People’s Republic of China (the “PRC”), along with 13 other government departments of the PRC, issued the “Key Highlights for Combating Corruption in the Medicine Purchase and Sale Industry and Medical Services Industry for the Year 2023” to launch a comprehensive anti-corruption campaign in the pharmaceutical industry. Subsequently, local health commissions in Beijing, Shanghai, Guangdong, Hainan, and various other provinces and cities in the PRC released notices for corrective actions specifically targeting the pharmaceutical industry. On August 15, 2023, the National Health Commission of the PRC further unveiled the “Questions and Answers Regarding the Comprehensive Anti-Corruption Campaign in the Pharmaceutical Industry,” providing additional direction and guidance on the anti-corruption campaign. All these actions collectively have had and will continue to have a profound impact on the pharmaceutical industry in China.Continue Reading Overview of Recent Anti-Corruption Enforcement Actions in the Pharmaceutical Industry in China

Introduction:

This article examines the regulatory framework outlined in the “Regulations on the Supervision and Administration of Privately-Offered Investment Funds” in China. It provides an overview of the new regulations and their implications for privately-offered fund managers, custodians, and service agencies. Understanding and complying with these regulations is essential for stakeholders in the Chinese investment fund industry.Continue Reading Regulatory Framework for Privately-Offered Investment Funds in China: Implications and Compliance

On July 7, 2022, the Cyberspace Administration of China (“CAC”) released the Security Assessment Measures of Cross-border Data Transfer ( the “Measures”) which will be effective from September 1, 2022. Previously on October 29, 2021, CAC has published a draft version of such Measures for public comments (which we covered in this blog post: here). In this blog post, we will present the major differences between this final version of the Measures and the prior draft version.Continue Reading China Issues Security Assessment Measures of Data Cross-border Transfer

In a previous post, we blogged about certain proposed rules issued by China Securities Regulatory Commission (the “CSRC”) on December 24, 2021. The proposed rules consist of general management rules on offshore listings of onshore companies (the “Management Rules”), as well as implementation measures related to the filing of such offshore listings (the “Filing Measures”). Those proposed rules require onshore companies to file certain reports and information with the CSRC and other competent governmental authorities prior to seeking either direct or indirect offshore listings. By including “indirect” offshore listings in the proposed rules, CSRC intends to state that the filing requirements also apply to offshore companies which are controlled by domestic companies or beneficial owners through the “VIE control documents”, also named “red chip companies” by some.Continue Reading China Securities Regulatory Commission issued Proposed Provisions Related to Offshore Listing

In the previous blog post, we discussed a few highlights of the Implementing Rules for Human Genetic Resources Management (draft for comment) (人类遗传资源管理条例实施细则(征求意见稿))(the “Draft Rules”). In this blog post, we will discuss a few other provisions of the Draft Rules that are related to international cooperation involving human genetic resources of China.
Continue Reading International Cooperation under China’s Proposed Implementing Rules for Human Genetic Resources Management