The Chinese government announced the Interim Regulations on Online Ride-Booking Taxi Business Services (hereinafter referred to as the Interim Regulations) on July 27, 2016. The Interim Regulations will come into force as from November 1, 2016, which marks the legalization of the online ride-booking and ridesharing business services in the nationwide in the People’s Republic of China.
The ridesharing business originated from the USA in 2009, and Uber, the pathfinder of such business, currently has business presence in more than 400 cities of more than 70 countries worldwide. Uber has been growing amid fierce controversy, and has faced or is facing numerous protests and lawsuits.
Such Interim Regulations maybe the first national regulations worldwide which announces legalization of the ridesharing business, which fully shows the forward-thinking of the Chinese government on management of the innovative sharing economy.
Provisions of the New Company Law on the Dismissal and Resignation of Directors China’s new Company Law, which will come into effect on July 1, 2024, creates the following systems for the dismissal and resignation of directors: first, the shareholders’ meeting may resolve to dismiss a director, but if a director is dismissed before the
The new Company Law was amended and passed on December 29, 2023, and will come into effect on July 1, 2024. The new law shortens the deadline for subscribed capital contributions, allowing companies to adjust their registered capital according to their operational conditions. This article starts by focusing on the key provisions of the new
On March 22, 2024, the Cyberspace Administration of China officially announced the Regulations on Facilitating and Regulating Cross-border Data Flow (“Regulations”) and took effect upon the date of announcement. According to the previous regulatory requirements for data outbound transfer, there are three main methods for data outbound transfer: security assessment, standard contract, and protection certification.
