In This Issue
This China Newsletter provides an overview of key developments during Q1 2023 in the following areas:
Advertising & Marketing
– The State Administration for Market Regulation (SAMR) issues guidelines on the use of absolute terms in advertising: clarifying the scope of “absolute terms” and associated penalties.
– SAMR promulgates new regulations for online advertising: providing new guidelines for internet advertisements.
Civil Law
– China’s Supreme Court proposes judicial interpretations regarding the Tort Part of PRC Civil Code: clarifying the tort liabilities in certain scenarios.
Data, Privacy & Cybersecurity
– China finalizes standard contractual clauses (SCCs) for cross-border data transfers: data exporters using SCCs as the legal basis to transfer personal data offshore to execute China SCCs and complete filing with the Cyberspace Administration of China before Nov. 30, 2023.
– TC260 solicits opinions on National Standard of certification requirements for cross-border transfers of personal information: maintaining the former provisions proposed by TC260.
Labor
– China releases reference text for better protection of female employees: aiming to eliminate workplace sexual harassment and providing special protections to female employees.
Private Equity Funds
– Asset Management Association of China (AMAC) releases guidelines for real estate private investment fund pilot filing: providing new requirements on the scope of targets of real estate investment and on qualifications of fund managers.
– AMAC issues updated rules on private equity fund registration and filing: providing guidance on registration requirements on private fund managers and relevant entities and individuals.
Securities
– China fully implements registration-based IPO regime: issuer to be listed on mainboards of stock exchanges in Shanghai and Shenzhen no longer subject to thorough review and approval by the China Securities Regulatory Commission (CSRC).
– CSRC finalizes regulations for filing-based administration of overseas offering and listing of China-based enterprises: China-based enterprises to complete the filing at CSRC before being listed on overseas markets.
Trademark
– China National Intellectual Property Administration (CNIPA) proposes new amendments to China’s Trademark Law, aiming to combat bad faith filing and streamline the trademark application process.
* This GT Newsletter is limited to non-U.S. matters and law.