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In Cybersecurity, Data and Tech

China: CAC issued detailed rules on personal information protection compliance audit

by and 3 Mins Read

On 12 February 2025, the Cyberspace Administration of China (CAC) issued the Measures for the Administration of Personal Information Compliance Audit (“Audit Measures”), which will take effect from 1 May 2025. The draft of the Audit Measures was first released for solicitation of public comments on 3 August 2023, and it took a year and a half for CAC to finalize the Audit Measures. In the final version of the Audit Measures, there are a few notable changes compared with the draft version, which reflect the evolving and more relaxed data protection regulatory stance of the CAC.

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In Antitrust / Competition

China’s new guidelines offer a prescriptive roadmap for horizontal merger review

by , , , , and 9 Mins Read

On 20 December 2024, China’s State Administration for Market Regulation (SAMR) officially released the final version of its Guidelines on the Review of Horizontal Mergers (the “Guidelines”), which came into effect on the same day. The Guidelines provide a comprehensive framework of the key regulatory considerations under China’s merger control regime, setting out potential competition law concerns arising from M&A transactions between actual or potential competitors, and outlining possible arguments to mitigate these concerns.

In Employment

China: China extends statutory retirement age – What does this mean for employers?

by , and 6 Mins Read

On 13 September 2024, the Standing Committee of the National People’s Congress announced its “Decision on Implementing the Gradual Extension of the Statutory Retirement Age”. On the same date, the State Council issued its “Measures on the Gradual Extension of the Statutory Retirement Age”, which go into more detail on how the new retirement policy will be implemented.

In Antitrust / Competition

China: Antitrust compliance credit now available for SAMR-verified programs

by , and 6 Mins Read

With effect from 26 April 2024, the State Administration of Market Regulation’s Amended Anti-monopoly Compliance Guidelines for Business Operators notably features the provision of credit for antitrust programs verified by the authority.
The Guidelines set out for the first time the conditions and process for such credit to be granted. The specific prerequisites for granting credit and the type of credit granted varies, depending on the stage of enforcement. Compared with the original 2020 Guidelines, the amended version is more detailed and includes helpful guidance on key antirust risks alongside case studies.

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In Cybersecurity, Data and Tech

China: New Rules to Facilitate and Standardize Cross-Border Transfer of Data Outside China

by , , and 2 Mins Read

On March 22, 2024, the Cyberspace Administration of China issued the long-awaited Provisions on Facilitating and Standardizing Cross-Border Data Flow (the “New CBDT Rules”), which took effect from the same date. With the New CBDT Rules being promulgated, the Chinese government finally released positive signals with moderate relaxation of its stringent control over CBDT activities since the promulgation of the Personal Information Protection Law of the PRC in 2021, and the implementation of CBDT security assessment and China Standard Contract for Cross-Border Transfer of Personal Information starting from late 2022.

In Corporate Compliance

China further enhances state secrets protection

by 4 Mins Read

On 27 February 2024, China published the amended Law on Guarding State Secrets, which will take effect on 1 May 2024. The Amended SSL enhances state secrets protection from multiple aspects, together with the Counterespionage Law amended in 2023, the National Security Law, and other national security related laws and regulations.

In Cybersecurity, Data and Tech

China: Navigating cross-border data transfers in the Greater Bay Area

by 2 Mins Read

The introduction of the Standard Contract for the Cross-boundary Flow of Personal Information within the Guangdong-Hong Kong-Macao Greater Bay Area (Mainland, Hong Kong) (comprising a set of standard contractual clauses, GBA SCC), together with its Implementation Guidelines marks a significant milestone in facilitating cross-border data flows between major cities in Guangdong province and Hong Kong, key cities in the Greater Bay Area (GBA). It provides an alternative to the existing requirements under the Personal Information Protection Law of the PRC to use one of three methods for transferring personal data outside of mainland China, namely by use of China standard contractual clauses (China SCC), obtaining certification from professional institutions and, if certain types of data are to be transferred or data quantity thresholds are met, submitting to a government-led security assessment review.

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In ESG

China: China’s first Regulations on administration of mandatory carbon market

by and 2 Mins Read

On 25 January 2024, the State Council of the People’s Republic of China promulgated the Interim Regulations on Administration of Carbon Emissions Trading (“Regulations”), which will come into force on 1 May 2024.
The Regulations set out the regulatory regime over carbon emission allowance (CEA) in the mandatory carbon market, while the Administrative Measures for Voluntary Trading of Greenhouse Gas Emission Reduction (Trial), effective from 19 October 2023, regulate the China Certified Emission Reduction (CCER) in the voluntary carbon market.

In AML & Financial Services Regulatory

China: Charting China’s booming panda bonds market

by 2 Mins Read

China’s panda bonds market is gaining momentum and attracting great interest. The National Association of Financial Market Institutional Investors’ recent move in granting licenses to three foreign banks to be lead underwriters for panda bonds is a positive signal of China’s further opening up of its financial market. In an interview with IFR Asia, Shirley Wang and Samuel He of FenXun, Baker McKenzie’s Joint Operation platform partner, discuss what lies ahead in 2024 in the panda bonds market and what it means for foreign banks and bond issuers.

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