Central Bank Digital Currencies (CBDCs) is an electronic form of currency and developed by the government to supplement traditional fiat money such as backnotes and coins. With the accelerating digital economy around the world, digital currency allows government and financial institutions to continue the transition to digital infrastructure and increase access to financial services. Namely…
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From March 2022, several cities in China have established citywide or block static management control (lockdown) to contain the new variant of COVID-19 virus – Omicron. Namely in Shanghai, the citywide lockdown from 1 April has continued into May and more cities are experiencing epidemic control and prevention measures. As a result, companies may face…
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Personal Information Protection Law ('PIPL'), effective from 1 November 2021, regulates those collecting and handling personal information. For companies processing employee data, a robust data security system should be integrated into the IT infrastructure and in line with PIPL. Whilst PIPL largely affects companies handling consumer data, employers are not immune from PIPL and should…
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On Saturday, 16 April 2022, the Shanghai Commission of Economy and Informatization issued a guideline (‘Guideline’) for industrial enterprises to start the orderly resumption of work and production with controlled risks to prevent COVID-19 outbreaks. Overall, enterprises that are required to return to work shall implement robust controls to prevent the spread of COVID-19 and…
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A new framework between China and HKSAR courts establishes mutual recognition of and assistance in cross-border corporate bankruptcy proceedings On 14th May 2021, the Secretary for Justice of Hong Kong and the Vice-President of the Supreme People's Court (“SPC”) of China signed a record meeting on the mutual recognition of and assistance to bankruptcy…
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