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☆ If the US bans TikTok, China will be getting a taste of its own medicine
▼ + stars: | 2024-03-14 | by ( Laura He | ) edition.cnn.com time to read: +7 min

But American apps have long been barred in China. “The TikTok bill appears likely to become law and China’s displeasure seems ironic, if not hypocritical, given its stance toward American social apps,” said Brock Silvers, managing director at Kaiyuan Capital. The Chinese government has said it strongly opposes a forced sale of TikTok, and it has the legal ability to do so. A man walks past the headquarters of ByteDance, the parent company of TikTok, in Beijing. “While China has completely banned [these] American apps, TikTok enjoys all the benefits of America’s free and open legal and political systems,” he said.

Persons: Hong Kong CNN — TikTok, ByteDance doesn’t, Wang Wenbin, ”, Brock Silvers, Wang, Joe Biden, TikTok, CNN Beijing’s, Trump, Greg Baker, “, Winston Ma, Silvers, Alex Capri, Craig Singleton, “ We’ve, ” Capri Organizations: Hong Kong CNN, US, Foreign Ministry, Google, Kaiyuan, Chinese Commerce Ministry, ByteDance, Trump, CNN, Commerce Ministry, Getty, New York University School of Law, Foundation, National University of Singapore Business School, Foundation for Defense of Democracies, Weibo, Twitter, Facebook Locations: China, Hong Kong, United States, Beijing, TikTok, ByteDance, AFP, Washington, Washington , DC

☆ What Biden's executive order means for U.S. investors in China
▼ + stars: | 2023-08-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +8 min

Chris Hondros | Getty Images News | Getty ImagesBEIJING — The Biden administration's long-awaited executive order on U.S. investments in Chinese companies leaves open plenty of questions on how it will be implemented. "The executive order obviously gives an outline of what the program's scope is going to be like," said Brian P. Curran, a partner, global regulatory at law firm Hogan Lovells in Washington, D.C. "It's not even a proposed rule. U.S. President Joe Biden on Wednesday signed an executive order aimed at restricting U.S. investments into Chinese semiconductor, quantum computing and artificial intelligence companies over national security concerns. This week's announcements don't explicitly prohibit U.S. investments into Chinese businesses, but the documents indicate what policymakers are focused on. But the Treasury said it may request information about transactions completed or agreed to since the issuance of the executive order.

Persons: Goldman Sachs, Chris Hondros, Biden, Brian P, Curran, Hogan Lovells, It's, Joe Biden, Janet Yellen, Winston Ma, what's, We've, Anne Salladin, Jonathan Levy, Pitchbook Organizations: U.S, Getty, Wednesday, Treasury Department, NYU Law, CIC, Treasury, University, Bank, Global, University of Chicago, China VC, China Locations: New York, BEIJING, Washington ,, China, U.S, Greenfield, United States, Pitchbook

☆ China may prefer TikTok to be banned than fall into US hands
▼ + stars: | 2023-03-22 | by ( Laura He | ) edition.cnn.com time to read: +7 min

TikTok’s algorithms, which keep users glued to the app, are believed to be key to its success. The intended sale of TikTok in 2020 to Oracle and Walmart hit a snag after Beijing added algorithms to its export control list. Under the plans, known as Project Texas, the US government and third-party companies such as Oracle would also have some degree of oversight of TikTok’s data practices. But that hasn’t reassured US officials, likely because no matter what TikTok does internally, China would still theoretically have leverage over TikTok’s Chinese owners. But, he believes Beijing would ultimately prefer for TikTok leave the US market rather than surrender its algorithm.

☆ China plans to revamp finance, tech oversight
▼ + stars: | 2023-03-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Lintao Zhang | Getty Images News | Getty ImagesBEIJING — China plans to overhaul its financial regulatory system by consolidating aspects of the central bank and securities regulator under a new entity, while doing away with the existing banking regulator. The moves also come as Beijing has increased regulation on parts of the economy that had developed quickly, with little oversight. The latest plan calls for the establishment of a National Financial Regulatory Administration, which replaces the China Banking and Insurance Regulatory Commission and expands its role. watch nowThe China Securities Regulatory Commission's investor protection responsibilities are set to shift to the new financial regulator. "China's consolidated financial regulatory body is [a] paradigm shift to ramp up oversight of its vast financial system," said Winston Ma, adjunct professor of law at New York University.

SYDNEY/HONG KONG, Feb 20 (Reuters) - New rules laying out how Chinese companies can list outside mainland China will often mean getting a nod from several domestic government agencies, potentially making for a lengthy approval process, investment bankers say. On one hand, the rules provide clarity after a regulatory crackdown by Beijing since mid-2021 that has slowed U.S. listings by Chinese firms to a trickle. Those hoops, combined with U.S.-Sino tensions over a multitude of issues from suspected spy balloons to trade friction, means a rush of Chinese firms seeking initial public offerings in New York is unlikely. Last year, U.S. listings of Chinese firms were worth less than $230 million, according to Refinitiv data, a massive drop from $12.9 billion in 2021. "I don't think an overseas listing for the start-up would get the Chinese regulatory nod due to data security.

☆ 'Unclear' messaging over delisting risk of Chinese firms in the U.S., professor says
▼ + stars: | 2023-01-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Unclear' messaging over delisting risk of Chinese firms in the U.S., professor saysWinston Ma of New York University says it's up to the U.S. Securities and Exchange Commission to clarify if Chinese companies are at "year one or year zero of the two year clock."

☆ Ant gets approval to expand its consumer finance business
▼ + stars: | 2023-01-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Ant Group's consumer finance unit has received approval to more than double its registered capital, a sign of progress in resolving regulators' concerns. Since the abrupt suspension of its massive IPO in late 2020, Ant has been working with Chinese regulators to restructure its business. Ant launched its consumer finance company in 2021 as part of the restructuring. On Friday, the China Banking and Insurance Regulatory Commission said it approved Ant's request to increase the amount of registered capital for the consumer unit, to 18.5 billion yuan from 8 billion yuan. Ant will still hold a 50% stake in the consumer finance company, according to the announcement.

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