China’s updated Company Law (the “new Law”) took effect on July 1, 2024. First promulgated on December 29, 1993, the PRC Company Law has undergone two substantial updates during its 30 years of development, the previous one...more
China’s amended Law on Guarding State Secrets (“SSL”) took effect on May 1, 2024. This amendment is part of a broader legislative push to enhance national security and data protection, aligning with other recent laws such as...more
China’s telecommunications regulator, the Ministry of Industry and Information Technology (MIIT), has announced a pilot scheme that would allow foreign investors to establish wholly owned subsidiaries in Beijing, Shanghai,...more
We are kicking off Cybersecurity Month early with a masterclass on China’s Personal Information Protection Law (“PIPL”).
The PIPL was issued on August 20 and came into effect on November 1, 2021. A year later, PIPL remains...more
9/6/2022
/ China ,
Continuing Legal Education ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
Data Security ,
Enforcement Actions ,
International Data Transfers ,
Personal Information ,
Personal Information Protection Law (PIPL) ,
Webinars
China’s new Anti-Foreign Sanctions Law (AFSL) (中华人民共和国反外国制裁法) achieves two goals. First, it creates a menu of countersanctions available to Chinese authorities—visa restrictions, asset and transaction blocks within...more
China’s recently promulgated Measures to Block the Improper Extraterritorial Application of Foreign Laws and Measures (the “Measures”) has established a new framework for mitigating the impact of foreign legal measures,...more
China’s new Rules on Counteracting Unjustified Extraterritorial Application of Foreign Legislation and Other Measures (《阻断外国法律与措施不当域外适用办法》) (the “Rules”) create a new framework to mitigate the impact of foreign legal...more
On December 30, 2020, the European Commission announced an in principle agreement with China on the terms of an EU-China Comprehensive Agreement on Investments (“CAI”). It contemplates what the Commission’s press release...more
On December 2, 2020, the U.S. House of Representatives passed, by unanimous vote, the Holding Foreign Companies Accountable Act (“HFCAA” or “Act”). Following enactment, foreign issuers, especially Chinese issuers, and their...more
China has recently introduced unreliable entity list ("Entity List") regulations to provide a framework for China's upcoming list of economic sanctions. As early as October 2018 and March 2020, China has implemented "blocking...more
10/12/2020
/ China ,
Criminal Investigations ,
Enforcement Actions ,
Entity List ,
Foreign Entities ,
Huawei ,
MInistry of Commerce ,
Office of Foreign Assets Control (OFAC) ,
Sanctions ,
U.S. Commerce Department ,
U.S. Treasury ,
US Department of State
Newly issued Unreliable Entity List (“UEL”) regulations establish a framework for list-based economic sanctions to be administered by China. Viewed together with “blocking statutes” implemented in March 2020 and October 2018...more
As widely reported, the Standing Committee of the National People’s Congress (the “NPC”) completed its deliberation of and formally promulgated the Law of the People’s Republic of China on Safeguarding National Security in...more
On April 20, 2020, China’s Supreme People’s Court (“SPC”) published its Guiding Opinion on Several Issues Concerning Proper Trial of Civil Cases Involving COVID-19 Pandemic (I) (“Opinion”). In this long-awaited Opinion, the...more
In Part I of this article, we discussed the possibility of PE investors, their portfolio companies, or their respective counterparties invoking material adverse change (MAC) or force majeure (FM) clauses to be relieved of...more
In Part I of this article, we discussed the possibility of PE investors, their portfolio companies, or their respective counterparties invoking material adverse change (MAC) or force majeure (FM) clauses to be relieved of...more
The COVID-19 (the official name of the 2019 novel coronavirus) outbreak is likely to have an effect on the PE landscape in Asia and on anyone with interests in Asia. In this three-part article, we examine how PE buyers,...more
The outbreak of a new coronavirus has severely hampered business activities in mainland China and has had a ripple effect across Asia and elsewhere. As a result of the outbreak, companies in mainland China, Hong Kong, and...more
The coronavirus outbreak has severely hindered business activities in mainland China, with ripple effects throughout Asia and beyond. As a result of the outbreak, companies in mainland China, Hong Kong, and other places in...more
China’s Foreign Investment Law (“FIL”) came into force on January 1, 2020, effecting far-reaching changes to the regulatory framework that has governed foreign investment in China for the last 40 years.
In many...more
For international investors looking at opportunities in China, this summer has been largely a waiting game. Investors have been waiting and hoping as the Chinese government and the Trump administration continue their...more
Amid the uncertainty Brexit has created, foreign investors are assessing their existing and prospective investments in the UK, with particular focus on Brexit’s potential impact on EU-UK trade and labor mobility. No one has a...more
What You Need to Know:
China has issued a new draft law tightening the regulation of cloud services. The draft:
..covers onshore hosted SaaS and PaaS (but possibly not IaaS)
..imposes new restrictions on...more
A February 2015 Morrison & Foerster client alert reported on the issuance of a new draft Foreign Investment Law (“FIL”) that, if promulgated, would institute far-reaching changes to the Chinese government’s oversight of...more
Overseas investment from China has experienced rapid growth each year in the last several years, with the Ministry of Commerce (“MOFCOM”) reporting USD735.1 billion in new investment having been deployed overseas by Chinese...more
More than twelve years after the promulgation in 2003 of the Catalogue of Telecommunications Services; the “2003 Catalogue”) China’s Ministry of Industry and Information Technology (“MIIT”) finally promulgated the amended...more
1/21/2016
/ China ,
Cloud Computing ,
Foreign Investment ,
MIIT Provisions ,
Mobile Apps ,
PaaS ,
SaaS ,
Software ,
Team Telecom ,
Telecommunications ,
Value-Added Tax (VAT)