In August 2021, the Amended Anti-Money Laundering Law of the People’s Republic of China ("Amended AML Law") came into effect. The International Monetary Fund estimates the total amount of laundered money to be 2-5% of the global GDP in one year. Money laundering refers to transforming illegal money generated from criminal activity (such as drug…
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Personal Information Protection and Maternity Leave Currently, companies worldwide are called by both domestic and international regulations to become corporate citizens rather than merely profitable entities. In China, 2021, domestic legislation focused on data and cyber protection and introduced measures to support the third-child policy. Namely, Personal Information Protection Law (“PIPL”), effective from November 1…
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China issues algorithm provisions to protect online consumers and prohibit unfair competition behaviour. The recently released Administrative Provisions on Algorithm Recommendation of Internet Information Service (“Provisions”) substantially affects technology companies by regulating the use of algorithms. Released by the Cyberspace Administration of China and three other government bodies on 4 January 2022, the Provisions come…
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