China’s top banking and insurance regulator, CBIRC, recently announced 12 new measures to further open up the country’s financial sector.
China recently announced a new pilot program that will cut certification requirements for a range of business activities.
China has delayed the implementation of cross-border data transfer rules that were set to go into force at the end of 2018 as part of the country’s Cybersecurity Law.
Companies in Beijing and Shanghai will no longer require a permit from the People’s Bank of China for opening a basic and temporary corporate bank account in China.
Revisions to the Trademark Law, Anti-Unfair Competition Law, and Administrative Licensing Law will strengthen intellectual property safeguards for businesses in China.
China recently issued new rules for its online gaming industry and has restarted the approvals process for licensing new games.
The new policy aims to solve migrant workers’ residency challenges, boost urbanization, and spur domestic consumption.
Foreign invested enterprises in China will need to report their investment and operation details for 2018 between April 1 and June 30, 2019.