Roy Zou
PBOC opens the door for foreign payment institutions
China’s revised draft data localisation measures
On 19 May 2017, the Cyberspace Administration of China (the “CAC“) released a revised draft of its Security Assessment for Personal Information and Important Data Transmitted Outside of the People’s Republic of China Measures (the “Second Draft Export Review Measures“).
The draft emerged just over a week after public comments closed on the first draft of … Continue Reading
China to grow big on e-healthcare data
On June 21, 2016, the State Council issued the Guiding Opinions on Promoting and Regulating the Development of the Application of Healthcare Big Data (“Guiding Opinions“). The Guiding Opinions declare that healthcare big data is a fundamental, strategic national resource; recognize that its development will have a significant impact on healthcare and medical treatment; and formulate programmatic plans … Continue Reading
China regulates online payment business of non-bank players
China’s online payment market is growing at breakneck speed. In the first three quarters of 2015, the total volume of online transactions processed by payment institutions exceeded RMB 56 billion, and the monetary value of transactions reached close to RMB 3.3 trillion.
But these impressive figures have come with significant “growing pains” in the industry, as the quality of some … Continue Reading
Third Party Payment Licences in China – Are They within The Grasp of Foreign Investors?
Online sales in China are booming. Gigantic figures are regularly trotted out by commentators to illustrate the size of the online market, such as the recent jaw-dropping figures for online sales for China’s answer to St. Valentine’s Day, Singles’ Day (光棍节). That market is underpinned by payment services, and the number of payment services providers, and online payment services providers … Continue Reading
China: Draft administrative measure for transaction rules of online retailing conducted on third-party platform
On 26 September 2013, China’s Ministry of Commerce (“MOFCOM“) released a draft of the Online Retailing Conducted on Third-Party Platforms Transaction Rules Administrative Procedures (网络零售第三方平台交易规则管理办法) (the “Draft Transaction Rules Procedures“), which aims to regulate transaction rules stipulated by third-party service platforms. The Draft Transaction Rules Procedures appear to cover new legislative ground, no doubt prompted by … Continue Reading
Will China’s revision to its E-Commerce legislation make a difference?
China’s State Administration of Industry and Commerce (“SAIC“) issued a draft of the new Administrative Measures for Online Commodity Trading and Relevant Services (网络商品交易及有关服务管理办法) on 11 September 2013 (the “Draft Online Trading Procedures“), with the objective to revise and clarify the Interim Measures for the Administration of Online Commodities Trading and Relevant Services (网络商品交易及有关服务行为管理暂行办法) issued by … Continue Reading