Chinese Regulatory Trends in TMT from 2023 to 2024
April 06, 2024
China’s TMT regulation in 2023 and looking forward to the remainder of 2024 is largely maintaining the priorities and momentum of recent years, including a focus on AI and other emerging technologies, consolidation of the existing administration system for digital services, key sectors such as chips, and a maturing system for market competition, along with more developed censorship and data protection compliance. New rules and interpretations continue to be issued at a rapid pace, in support of the evergreen priority of fostering a digital ecosystem that is, on the one hand, innovative and competitive, and on the other hand, secure and strongly supportive of the government’s authority and stability.
To this end, while high-growth sectors and functions such as AI, apps, and digital services have inspired a flurry of new, targeted legislation, the overall expectations for both companies and users remain similar to what has been seen in past years. And while there were ostensible liberalizations in some sub-sectors in support of economic growth and foreign investment in 2023, in practice there have not been material changes to overall market access trends.