Enhanced Protection of Privacy to Change the Business Environment in China

When the Chinese legislature enacted a new criminal statute in 2009 penalizing unlawful acquisition and misappropriation of citizens’ private information, no one thought that the government would be serious in enforcing it. The reason was simple: privacy rights have not been fully defined in China, and unscrupulous exploitation of personal information, including sale and purchase…

China Explores Emerging Opportunities in Mexico

China and Mexico share important priorities that have forged the basis for cooperative relations between the two nations.  For Chinese investors, Mexico has become a desirable investment destination because of its wealth of natural resources, modern infrastructure, internationally qualified workforce, and predictable legal environment. The fact that Mexico has been blessed with natural resources so…

Will PayPal Thrive in China? – China’s New Regulation of Third Party Payment Services

On June 21, 2010, the central bank of China issued long-awaited regulation for third-party payment providers. According to the regulation, non-bank payment service providers must apply for a license from the central bank and use banking institutions as agents when they transfer capital from each other. In addition, payment providers must keep customers’ funds in…