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Brief Review of the Notice of the Ministry of Natural Resources on Strengthening the Administration of Surveying, Mapping and Geoinformation Security of Intelligent Connected Vehicles
On July 26, 2024, the Ministry of Natural Resources ("MNR") promulgated the Notice of the Ministry of Natural Resources on Strengthening the Administration of Surveying, Mapping and Geoinformation Security of Intelligent Connected Vehicles ("Notice 139"), reiterating the importance of the security of surveying, mapping and geoinformation. This is the second time within a two-year period for the MNR to clarify certain difficulties in the monitoring of surveying and mapping compliance of intelligent connected vehicles ("ICV") and the compliance focus in relation to geographic information data processing following the issuance of the Notice on Promoting the Development of Intelligent Connected Vehicles and Maintaining the Security of Surveying, Mapping and Geoinformation ("Notice 1").
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Insights into China Biotech's New Approach: Spin-off-NewCo Model
China's pharmaceutical industry is witnessing a notable surge in "pipeline spin-off projects", a model commonly referred to as the "Spin-off-NewCo" or "SON" model. Within the past two months, we've been advising on nearly ten SON projects. Leading pharmaceutical companies in China are more frequently adopting the SON model to separate parts of their pipelines into new, independent companies. These spin-off projects have garnered considerable interest from multinational industry leaders and international investment institutions, underscoring substantial opportunities for global collaboration.
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Implications of New QFI Funds Management Rules
On 26 July 2024, the People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) released the revised Provisions on the Administration of Funds of Foreign Institutional Investors for Domestic Securities and Futures Investment (《境外机构投资者境内证券期货投资资金管理规定》, the "Revised Provisions"), which will come into effect on 26 August 2024 and supersede the current version issued on 7 May 2020 (the "Current Provisions"). To facilitate your understanding of the implications of the Revised Provisions on the qualified foreign investors (QFIs) and QFI custodian banks, we set out below the key changes of the Revised Provisions against the Current Provisions, covering (1) SAFE registration, (2) foreign exchange risk management, (3) account management and (4) repatriation.
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Han Kun
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