On April 3, 2026, the Cyberspace Administration of China ("CAC") released the Draft Provisions on Simplified Personal Information Protection Measures for Small-Scale Personal Information Handlers (the "Provisions") for public comment through May 3, 2026. The draft is significant because it gives concrete regulatory content to Article 62 of the PRC Personal Information Protection Law ("PIPL"), which contemplates specialized personal information protection rules and standards for small-scale personal informlation handlers ("Small-Scale PI Handler"). Nearly five years after the PIPL took effect in November 2021, this long-anticipated legislative authorization has finally begun to take shape in operational terms.

On 20 March 2026, the Ministry of Justice, together with the People's Bank of China ("PBoC"), the National Financial Regulatory Administration ("NFRA"), the China Securities Regulatory Commission and the State Administration of Foreign Exchange, released the Financial Law of the People's Republic of China (Draft) (《中华人民共和国金融法（草案）》, the "Draft Financial Law"), which is open for public comment until 19 April 2026. The Draft Financial Law comprises 11 chapters and 95 articles, covering the modern central bank system, financial institutions, financial products and services, financial markets, financial regulations, risk management and resolution mechanisms, high-quality financial development and security, and legal liabilities. Once enacted, the Draft Financial Law is expected to provide a unified legal framework for financial regulation, marking a shift from the current sector-specific approach toward a more coordinated, principle-based system. We summarize below the key highlights of the Draft Financial Law and suggested actions for market participants.

On 6 February 2026, eight PRC authorities, including the People's Bank of China, jointly issued the Notice on Further Preventing and Addressing Risks Related to Virtual Currencies and Other Matters ("Notice No.42"). On the same day, the China Securities Regulatory Commission ("CSRC") issued the Regulatory Guidelines on the Offshore Issuance of Asset-Backed Securities Tokens Backed by Onshore Assets (the "RWA Issuance Regulatory Guidelines"). Notably, Notice No.42 repeals the 2021 Notice on Further Preventing and Disposing of Risks of Speculation in Virtual Currency Trading (Yinfa [2021] No.237, the "No.237 Notice"), which had previously served as the principal framework document governing virtual-currency-related activities in the Chinese Mainland. Although Notice No.42 largely preserves the existing regulatory approach, it also introduces several significant adjustments. This article highlights the key changes brought about by Notice No.42.