Global asset manager BlackRock became the first to obtain permission to start an onshore mutual fund business in China, as Beijing launches the $3.5 trillion industry, reported Reuters. The Chinese fund management unit at BlackRock announced on Friday that they had received approval from the China Securities Regulatory Commission (CSRC) to begin operations. The announcement […]
Category: Law & Regulation
China’s northwest province of Qinghai ordered the closure of all cryptocurrency mining operations in the region, reported Caixin. According to the provincial industry and information technology regulator, all existing operations will be closed, and no new virtual currency mining projects will be permitted in the province. The move follows similar orders enacted in northern Inner […]
On Tuesday, the US Commerce Department was prohibited from removing Huawei from a trade blacklist after a bill was passed by the US senate meant to strengthen US technological power, reported the South China Morning Post. According to the United States Innovation and Competition Act, the only way that Chinese telecoms giant Huawei can be […]
China passed a law on Thursday aimed at countering foreign sanctions while resisting US and EU pressure over trade, technology, Hong Kong, and Xinjiang, reported Reuters. Entities involved in the implementation of discriminatory practices against Chinese citizens or entities could be put on an anti-sanctions list. Entities on the list could be denied entry or […]
The tutoring company Zuoyebang, backed by Jack Ma’s Alibaba, is reducing its sales staff numbers as government authorities continue to increase restrictions on the after-school training industry, reports Caixin. Zuoyebang, registered as Xiaochuan Chuhai Education Technology (Beijing) Co. Ltd., said the company is making business adjustments, including normal personnel optimization and turnover, and recruitment of […]