On 12 February 2025, the Cyberspace Administration of China (CAC) issued the Measures for the Administration of Personal Information Compliance Audit (“Audit Measures”), which will take effect from 1 May 2025. The draft of the Audit Measures was first released for solicitation of public comments on 3 August 2023, and it took a year and a half for CAC to finalize the Audit Measures. In the final version of the Audit Measures, there are a few notable changes compared with the draft version, which reflect the evolving and more relaxed data protection regulatory stance of the CAC.

On March 22, 2024, the Cyberspace Administration of China issued the long-awaited Provisions on Facilitating and Standardizing Cross-Border Data Flow (the “New CBDT Rules”), which took effect from the same date. With the New CBDT Rules being promulgated, the Chinese government finally released positive signals with moderate relaxation of its stringent control over CBDT activities since the promulgation of the Personal Information Protection Law of the PRC in 2021, and the implementation of CBDT security assessment and China Standard Contract for Cross-Border Transfer of Personal Information starting from late 2022.

On 6 February 2024, the State Administration for Market Regulation of the People’s Republic of China issued the draft Regulations of the State Council on Implementing the Registration and Management of Registered Capital under the Company Law of the People’s Republic of China for public consultation.

On 29 December 2023, the Standing Committee of the National People’s Congress of the People’s Republic of China promulgated the amended Company Law of the People’s Republic of China (“2023 Company Law”), after its deliberation of four versions of draft amendments in the past three years. The 2023 Company Law will come into force on 1 July 2024.
The amendments cover a wide range of topics, including capital contribution and reduction, equity/share transfer and repurchase, corporate governance matters (such as organizational structure and responsibilities and duties of controlling shareholders, actual controllers, directors, supervisors and senior management, etc.), shareholder rights protection, company establishment and dissolution/liquidation, etc.