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What you need know about E-CNY – the first digital currency in China

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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The Dos and Don’ts of Processing Employee Data under Personal Information Protection Law in China

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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Resuming work for industrial enterprises in Shanghai

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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Filling for cross-border bankruptcy in mainland China (‘China’) or Hong Kong Special Administration Region (‘HKSAR’)?

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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