The Wirecard affair is also making waves in China. The now insolvent company was to be the first German payment service provider to enter the Chinese market. In addition to the Chinese company Allscore Payment Services, which was taken over in November 2019, Wirecard also cooperated with Chinese giants such as Alipay, WeChat Pay and… Continue reading The Wirecard Case Promotes the Compliance also in China
Four years have passed since the first proposal of the strategic plan Made in China 2025 (MiC 2025). Although China is toning down the public media coverage and official statements regarding the MiC 2025, the plan is still running. Its goals focus on high-tech areas, including the pharmaceutical industry. The MiC 2025 plan sets ambitious… Continue reading Know-How Protection in Pharmaceutical Companies
Last year FBI started criminal prosecutions against a former Apple employee who stole the secret technology for self-driving cars. Now, Tesla is suing out of same reasons a former employee of their Autopilot team. What is the connection between the two defendants? Mr. Zhang and Mr. Cao are not only countrymen but were also switching… Continue reading E-Car Start Up XPeng: New Trade Secrets Theft Accusations
Changes in legal framework, successful market entry and IP protection Thursday, 29. January 2019 | 10:00 – 11:00 EST / 16:00 – 17:00 CET China is the world’s second largest market for pharmaceuticals and medical devices. Many Western manufacturers are still reluctant in entering the Chinese market. So far, their reasoning often included non-transparent regulations… Continue reading Webinar Invitation: Pharma and Biotech in China
With a new regulation on the Cybersecurity Law enforcement, China enables the state police, Public Security Bureaus (PSB), to inspect companies in regard to their cybersecurity compliance. The regulation comes into force on November 1, 2018 and aims at Internet providers and “network using companies”. The definition of network using companies however is extremely vague… Continue reading Cybersecurity Law: Company Inspections by the Chinese Police
China’s NITSSTC (National Information Security Standardization Technical Committee) published new standards on Cybersecurity Law as draft for the solicitation of public opinion. The new standards cover some topics that many international companies with operations in China were wrestling with in the last couple of months. As the Cybersecurity Law contains a lot of vague expressions… Continue reading China’s Cybersecurity Law – More Clarification to Come
Most international companies have adopted a mere wait-and-see approach regarding the compliance with China’s new Cybersecurity Law. Now, the recent investigation against the country’s top social media providers definitely sets off alarm bells – it is time to take compliance with China’s Cybersecurity Law seriously. In early August, the Cyberspace Administration of China (CAC) has… Continue reading China’s Top Social Networks Face Investigation under the Cybersecurity Law
China’s Social Credit System is a big data-enabled toolkit for constant monitoring of all market participants in respect to compliance with laws and rules. Its core concept is the self-restriction of economic actors. Based on massive data collection, ratings are generated for each market participant. These ratings are publicly available and can result in rewards… Continue reading China’s Social Credit System – A Revolution in the Market Regulation?