China Brief Notes

Hong Kong’s Pivotal Role in RMB Internationalization

Executive Summary: The People’s Republic of China (PRC) continues to use Hong Kong to test policies and build support for the internationalization of its currency, the renminbi (RMB). The city is now the world’s largest offshore RMB clearing center. The Cross-border Interbank Payment System (CIPS)... MORE

PRC Unveils New Space Plan

Executive Summary: The first national-level long-term plan for space science development from the People’s Republic of China (PRC) sets the goal of becoming a global leader by 2050, by which point it aims to lead in revolutionary scientific breakthroughs, deep space missions, and by becoming... MORE

Beijing’s Latest Data Security Regulations Create Framework for Broad Domestic and Extraterritorial Supervision

Executive Summary: The State Council-approved “Network Data Security Management Regulations” impose stringent compliance requirements on data processors and platform service providers to safeguard personal information, important data, and cross-border data. The “Regulations” signal continued efforts by the People’s Republic of China (PRC) to assert control... MORE