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
Yuanmei Lu is special counsel in the Corporate Practice Group in the firm’s Shanghai office.
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
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
On March 21, 2022, the Ministry of Science and Technology of the People’s Republic of China published 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”) to solicit public comments therefor. The comment period will open until April 21, 2022.
Continue Reading China Proposed Draft Implementing Rules for Human Genetic Resources Management
Cyberspace Administration of China, Ministry of Industry and Information Technology, Ministry of Public Security, and State Administration for Market Regulation jointly promulgated, on December 31, 2021, the Provisions on Administration of Algorithmic Recommendation in the Internet Information Service (互联网信息服务算法推荐管理规定) (the “Provisions”), which became effective as of March 1, 2022.
Continue Reading Provisions on Administration of Algorithmic Recommendation Took Effect on March 1
China’s Cybersecurity Law (the “Cybersecurity Law”) took effect on June 1, 2017. The Cybersecurity Law consists of 79 articles in total. According to Article 2 thereof, the Cybersecurity Law would apply to the construction, operation, maintenance and use of cyberspace within the territory of China, as well as to the supervision and administration of cybersecurity within the territory of China. This blog post will discuss those provisions of the Cybersecurity Law that would be most relevant to the protection of personal information. Any company which collects, stores, or processes personal information within the territory of China may find it useful to get familiar with such provisions.
Continue Reading Cross-Border Transfer of Personal Information under China’s Cybersecurity Law