This monthly report outlines key developments in China’s data protection sector for May. The following events merit special attention...more
The People’s Bank of China (PBOC) released a September 24 statement declaring that all cryptocurrency-related transactions will be deemed illegal and that foreign exchanges are banned from providing services to residents in...more
China is marching on to be the world's pioneering cashless society but unfortunately there is an almost complete absence of foreign counterparts in the huge Chinese domestic or cross border transactions initiated from China. ...more
On 11 January 2017, the People's Bank of China ("PBOC"), China's central bank, issued the People's Bank of China Circular on Matters relating to the Full Bore Macroprudential Administration of Cross-Border Financings ("New...more
In 2016, the value of RMB depreciated over 6% against the US dollar and China’s foreign exchange reserves dropped sharply. Such depreciation of RMB and the continuous capital outflow at extraordinary levels have caused the...more
An explicit and limited-coverage deposit insurance system is ready to replace the historical implicit and blanket governmental guarantee for failed financial institutions. On November 30, 2014, the Legislative Affairs...more
On December 2, 2013, the People’s Bank of China (“PBOC”) has issued the Opinions on the Financial Support for the Building of the China (Shanghai) Pilot Free Trade Zone....more
The nature and prospects of “virtual currencies”, and bitcoin in particular, have been keenly debated. These issues again attracted attention when Chinese government authorities issued a notice on bitcoin, defining its status...more