TMT developments in China - May 2015
10 May 2015
The first quarter of 2015 has seen a flurry of regulatory developments in the technology, media and telecommunications (“TMT”) sector. The opening up of the e-commerce sector to foreign investors in the Shanghai Free Trade Zone is a positive development amidst a wider backdrop of concern with the draft Foreign Investment Law’s attack on variable-interest entity (VIE) structures as well as increasing security and disclosure requirements on foreign hardware and software technology providers under China’s draft antiterrorism law. In Hong Kong, privacy continues to be a priority for the regulators with the issuance of guidelines on cross border data transfer and the use of drones for collection of data.
We also see an increasing trend of enforcement of merger control rules by the regulators in the TMT sector targeting technology companies. The Supreme People’s Court has also stepped in and provided its interpretation of market dominance under the Anti-Monopoly Law in the Qihoo 360 v. Tencent case which will be important for the development of the TMT sector.
As with our prior editions, we bring you the latest and most important developments in the TMT sector covering different practice areas over the past few months.
We hope the articles provide you with an in-depth analysis into the issues behind the headlines which we strive to do. Enjoy!