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Trump Administration Signals Hard Stance on Chinese Investment in Technology

Two recent CFIUS reviews show that the new administration is taking a hard stance on Chinese investment in technology. CFIUS, the Committee on Foreign Investment in the U.S., is an interagency committee that reviews the...more

How to Protect Your Online Games in China

Online gaming in China represents one of the largest and fastest growing internet business sectors in the world. In 2016, the online gaming industry in China saw an unprecedented total market value of RMB 165 billion (or...more

PRC Regulation on Internet-Based Live Broadcasting Businesses

On Sept. 2, 2016, the General Administration of Press Publication Radio, Film and Television of the People’s Republic of China (the “GAPP”) released the Circular on Several Issues for Strengthening the Administration of...more

2/9/2017  /  Broadcasting , China , Live Streaming

What Does China’s New Cyberspace Sovereignty Mean, and is Your Company Ready?

On Nov. 7, 2016, the official and finalized version of the Cyberspace Security Law (the “CSL”) was approved by the Standing Committee of the National People’s Congress and signed off by Chinese President Xi Jinping. Under the...more

China Report: Uniform Interchange Rates Now Apply; Differentiated Interchange Fees Based On Different Types of Merchants No Longer...

I. Highlights of the New Regulation - On September 6, 2016, a new Chinese regulation regarding fees for the use of bankcards (“Interchange”) in the PRC became effective. For these purposes, Interchange is comprised of...more

11/29/2016  /  Banking Sector , China , New Regulations , PRC

Reality and Trend of China’s Regulation on Payment Service by Non-Financial Institutions 2016

Understanding the payments regulatory environment in China—both the existing regime and pending developments—is essential for companies engaged in cross-border payments activities (particularly non-financial institutions). At...more

Federal Guidance Clarifies When and How Employers Can Accept California’s New AB 60 Driver’s Licenses from Possibly Unauthorized...

Since early 2015, qualified California residents have been able to apply for and receive a driver’s license issued by the Department of Motor Vehicles without proving that their presence in the United States is authorized...more

Chinese Government’s Announcement to Open Bank Cards Network Market

On Oct. 29, 2014, in a routine working session, the China State Council determined that the Chinese government would “open” bank card acquisition and settlement businesses in China. Qualified Chinese domestic and foreign...more

Taming the “Wild West” in the Far East: China Extends Protections for Privacy and Reputation to the Internet, Heightens the Risk...

Although laws targeting Internet-based content have lagged behind in China, the Chinese government has made sweeping changes over the past two years—most recently last fall—that extend offline legal protections to the virtual...more

China Widens Entry to Medical Device Market to Investment, Innovation While Tightening Regulations on Existing Market Products

As the medical device industry in China continues accelerated growth, investors seek to capitalize on a roughly $65 billion market that is growing at an annual rate of 21 percent. Under recent changes to the regulatory...more

Encouraging Gas Development in China—A Work In Progress

The Chinese government recently issued several reform measures intended to open up its gas industry to foreign oil and gas developers. An inflow of foreign capital and technology, it is hoped, will spur construction of the...more

New York Becomes First State to Propose Virtual Currency Regulations

On July 17, 2014, the New York State Department of Financial Services (DFS) became the first state agency to release proposed regulations specifically governing the crypto-currency industry. The proposed regulations were...more

Online Payments in China: Recent and Regulatory Actions

On March 13, 2014, People’s Bank of China (“PBC”) issued an opinion letter halting immediately the use of QR codes for payments using mobile phones (as distinguished from using QR codes at POS terminals) well as the use of...more

Nu Skin Fined in China for Improper Direct Sales Activities

The investigation was launched as a direct result of a series of news reports by the People’s Daily, China’s official newspaper released in January 2014, alleging that Nu Skin China had organized “brainwashing” gatherings,...more

4/25/2014  /  China , Marketing , Pyramid Schemes

State of Texas Issues Memorandum on Virtual Currencies

The State of Texas is the most recent state to announce a formal policy with regard to virtual currencies. The Texas Department of Banking (DOB) issued a supervisory memorandum on April 3, 2014, interpreting how virtual...more

4/14/2014  /  Bitcoin , Virtual Currency

New Regulatory Measures for Internet Transactions in China

On Jan. 26, 2014, the Chinese State Administration for Industry and Commerce (“SAIC”) promulgated the Regulatory Measures for Internet Transactions (the “New Measures”). The New Measures, which took effect on March 15, 2014,...more

4/3/2014  /  China , Internet , SAIC

Virtual Currency Year-In-Review: Bitcoin and Beyond

Bitcoin and other decentralized, math-based virtual currencies emerged in 2013 as nascent challenges to traditional payment systems, drawing widespread public attention, venture capital investment, and regulatory scrutiny....more

A Q&A on Recent Developments Involving China Union Pay

Recently, DWT payments team members Vincent Wang and Norm Page sat down in our Shanghai office to discuss recent developments involving China Union Pay (CUP). Vincent Wang has extensive experience helping U.S. companies and...more

10/16/2013  /  China , Employee Rights , Unions , WTO

The Upcoming Shanghai Free Trade Zone: An Update on the National Pilot Project

Following the announcement in July of an ambitious plan to develop mainland China’s first free trade zone in Shanghai, there have been several recent developments relating to the forming and unveiling of the zone. ...more

Legal Overview of China’s Regulation on Payment Service by Non-Financial Institutions

At ACI’s 2nd Advanced Forum on International & Cross-Border Payments in San Francisco, DWT partner Vincent Wang gave a presentation entitled “Legal Overview of China’s Regulation on Payment Service by Non-Financial...more

Developments in Chinese Mobile and E-Payments

The year end is seeing many potentially significant developments in mobile and electronic payments in China. Several of these developments are noted below....more

Reduced Interchange Fees in China Effective February 25, 2013

The ten year-old regime governing merchant fees in China is about to change – and the fees are, in general, about to be reduced by one-fourth or more....more

12/17/2012  /  China , Merchant Fees
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