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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
Global | Publication | January 2023
Following a one-month consultation on the draft Administrative Measures for Approval Registration of Mid-to-Long Term Foreign Debts of Enterprises in September 2022 (see link to our earlier legal update), on 10 January 2023 the National Development and Reform Commission of the PRC (NDRC) has promulgated the Administrative Measures for the Approval Registration of Mid-to-Long Term Foreign Debt of Enterprises《企业中长期外债审核登记管理办法》(国家发展和改革委员会令第56号) (NDRC Order No. 56).
NDRC Order No. 56 establishes the foreign debt approval registration system, which, with effect from 10 February 2023, will replace the foreign debt filing registration system under NDRC Circular No. 20441, with NDRC Circular No. 2044 being repealed on the same day.
In this legal briefing, we will focus on the key changes to the foreign debt filing registration regime under NDRC Circular No. 2044 (as supplemented by NDRC Circular No. 2044 Practice Manual2) and highlight the relevant aspects of NDRC Order No. 56 where further guidance from NDRC (in form of new practice manual for NDRC Order No. 56 or other forms of Q&A) would be welcomed to facilitate the administration of the new foreign debt approval registration regime.
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Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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On February 2, 2024, the Belgian Presidency of the Council of the European Union confirmed that the Committee of Permanent Representatives had signed the Artificial Intelligence (AI) Regulation, referred to as the AI Act. Approval by the EU Parliament followed on 13 March 2024, and the AI Act is likely to appear in the EU’s Official Journal around May 2024. The AI Act aims to establish a stringent legal framework governing the development, marketing, and utilisation of artificial intelligence within the region, thereby marking a significant advancement in the regulation of this burgeoning domain.
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The EU’s Artificial Intelligence Regulation, commonly referred to as the AI Act, is expected to come into force during the summer of 2024 (the AI Act). The AI Act will be the first comprehensive legal framework for the use and development of artificial intelligence (AI), and is intended to ensure that AI systems developed and used in the EU are safe, transparent, traceable, non-discriminatory and environmentally friendly.
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