China, AnJie Law Firm updates

Competition & Antitrust

Contributed by AnJie Law Firm
Merger control review 2018
  • China
  • 28 February 2019

In 2018 the newly formed State Administration for Market Regulation (SAMR) maintained a rigorous and prudent attitude towards merger control review. There was a significant increase in the number of cases concluded and the efficiency with which they were done so. As regards the cases which were conditionally approved, the SAMR imposed various tailored conditions. In addition, the SAMR investigated more non-filing cases and imposed more penalties on non-filers compared with 2017.

A new era – 2018 Anti-monopoly Law enforcement highlights
  • China
  • 07 February 2019

China reached a number of Anti-monopoly Law enforcement and development milestones in 2018. For example, the newly established State Administration for Market Regulation completed the consolidation of the country's former government antitrust agencies and amended a number of Anti-monopoly Law regulations. Although this institutional reform took a significant amount of time, public enforcement remained active. In addition, there were a number of private antitrust enforcement developments.

SAMR revamps procedural penalty rules
  • China
  • 29 November 2018

The newly established State Administration for Market Regulation recently embarked on its first major overhaul of procedural rules by publishing the draft Interim Provisions on Administrative Penalty Procedures in Market Regulation and the related interim measures for public comment. Unsurprisingly, market observers and practitioners promptly examined the draft documents in an attempt to deduce any changes to the intended-to-be-repealed State Administration for Industry and Commerce rules.

Court examines refusal to deal in private antitrust litigation against Tencent
  • China
  • 18 October 2018

The Shenzhen Intermediate People's Court recently issued its judgment in the private antitrust litigation brought by domestic software company Shenzhen Micro Source Code Software Development Co Ltd (SMSCSD) against tech giant Tencent. SMSCSD had alleged that Tencent possessed a dominant position in the China mainland market for mobile instant messaging and social platform services and had abused this dominance by blocking its WeChat Official Accounts and engaging in discriminatory practices.

The global influence of Chinese merger control
  • China
  • 04 October 2018

China's rise to prominence as an antitrust regime of major importance for companies engaging in global M&A activity has granted it considerable leverage to influence the landscape of the industries in which its domestic companies participate. However, recent events have raised the prospects for greater activism by the national regulators in determining whether a merger or acquisition should go ahead and, if so, on what conditions.


Insurance

Contributed by AnJie Law Firm
Shift towards digital insurance and its regulation
  • China
  • 02 October 2018

Ping An Insurance (Group), a relative newcomer to the insurance industry, now ranks among the world's largest and most valuable insurers. Notably, its use of technology to embrace new business models that supplement its core insurance offerings is indicative of a wider global trend of providing customers with digital, added-value services. However, in China, this evolution towards added-value ecosystem-related services and the potential advantages on offer is marked by a different set of market considerations.

Rise of private health insurance: challenges and opportunities
  • China
  • 17 July 2018

Despite a range of stakeholders having vested interests in developing the private health insurance market, it has remained underdeveloped and is generally considered by Chinese insurers to be unprofitable compared with life insurance lines. Insurers have also found it hard to stimulate uptake by a consumer base that is relatively unfamiliar with the added value of such products. As such, the Chinese health insurance market is not as mature, innovative or profitable as it could be.

How can foreign-invested insurers apply new CIRC regulation by reference?
  • China
  • 17 April 2018

The China Insurance Regulatory Committee recently promulgated the new Measures for the Administration of Equity in Insurance Companies, which state that if the shareholding proportion of an insurer's foreign shareholders accounts for more than 25% of its registered capital, the relevant provisions of the measures must be applied by reference. This express inclusion of foreign-invested insurers represents a substantial shift away from current practice.

CIRC's assertive action underlines renewed emphasis on controlling financial risks
  • China
  • 20 March 2018

Since the end of 2017, the China Insurance Regulatory Committee has taken numerous regulatory measures to address disorder in the insurance market, some of which have brought certain domestic life insurers to task. The measures are notable, as they underline a renewed emphasis on controlling financial risks, which is of utmost concern for the government.

Increased insurance investment limits further liberalise insurance industry
  • China
  • 16 January 2018

Following the resumption of bilateral trade treaty talks between China and the United States, a 100-day plan was mooted which promised to improve trade ties going forward. One area of focus in this regard has been the foreign ownership limits that apply to inbound investment in Chinese financial services groups, including those pertaining to the country's insurance industry. This policy shift has given rise to expectations that further foreign investment in the insurance industry will increase significantly.


Litigation

Contributed by AnJie Law Firm
Blockchain evidence accepted in judicial proceedings for first time
  • China
  • 27 November 2018

The Hangzhou Internet Court recently confirmed, for the first time, the effectiveness of evidence recorded via blockchain. Shortly after, the Supreme People's Court cemented the lower court's view by implementing the Provisions on the Trial of Cases by the Internet Courts. This is the first time that blockchain technology has been officially accepted in a judicial interpretation as a valid technical means for preserving and presenting evidence.

Court examines refusal to deal in private antitrust litigation against Tencent
  • China
  • 23 October 2018

The Shenzhen Intermediate People's Court recently issued its judgment in the private antitrust litigation brought by domestic software company Shenzhen Micro Source Code Software Development Co Ltd (SMSCSD) against tech giant Tencent. SMSCSD had alleged that Tencent possessed a dominant position in the China mainland market for mobile instant messaging and social platform services and had abused this dominance by blocking its WeChat Official Accounts and engaging in discriminatory practices.


Tech, Data, Telecoms & Media

Contributed by AnJie Law Firm
New campaign to stop apps from unlawfully collecting and processing personal data
  • China
  • 01 March 2019

The Cyberspace Administration of China, the Ministry of Industry and Information Technology, the Ministry of Public Security and the State Administration for Market Regulation recently announced that they had launched a campaign to stop apps from unlawfully collecting and processing personal data. The announcement sets out the obligations of various parties with regard to the collection and processing of personal data, including app operators, associations, authorities and public security organs.

Amended personal information security specifications released for public comment
  • China
  • 22 February 2019

The National Information Security Standardisation Technical Committee recently published the draft Information Security Technology – Personal Information Security Specifications for public comment. Among other amendments, the draft has revised the exceptions regarding authorisation and consent by personal information subjects, introduced rules concerning the merger of personal information and promoted the importance of data protection officers and departments.

MIIT notifies inspected telecom enterprises to rectify loopholes and vulnerabilities
  • China
  • 01 February 2019

The Cybersecurity Bureau of the Ministry of Industry and Information Technology recently released its checking results for seven inspected telecom enterprises and required them to rectify the loopholes and vulnerabilities of their networks or systems as notified. The inspected telecom enterprises were found to have had a number of major issues, including medium and high-risk loopholes in their business systems and equipment (including their official websites).

Ministry of Public Security releases Guideline for Internet Personal Information Security Protection
  • China
  • 25 January 2019

The Ministry of Public Security recently released the Guideline for Internet Personal Information Security Protection (Draft for Comment) to solicit public opinions. The guideline requires that personal information holders implement a series of security protection measures. Among others, these include a management mechanism, which involves building firewalls to protect enterprises from criminal risks, and technical measures to ensure that network operations are secure for internet inspection purposes.

Cyberspace Administration of China issues regulations for financial information service providers
  • China
  • 18 January 2019

The Cyberspace Administration of China recently issued the Administrative Regulations on the Provision of Financial Information Services. Under the regulations, parties must obtain the corresponding permits before they can provide various financial information services. Further, service providers must establish service specifications regarding information content auditing, data retention, information security and personal information and IP protection.


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