Top news of the week:

• China highlights success of Tianwei-1 “Mars” mission

  June 14, 2021

  On 12 June, the China National Space Administration (CNSA) held a press conference in Beijing, to mark the achievement of the three goals of “orbiting, landing, and rover exploration” with a single mission of Tianwen-1. China’s Tianwen-1 Mars mission achieved six “firsts” in the country’s aerospace history including solo sample collection and interplanetary travel, among others.

   

• Experts highlight the importance of Data Security Law and the concept of “data sovereignty”

  June 15, 2021

  On 10 June, the Data Security Law was officially approved. The law will regulate the security management for data processing activities and security supervision within China’s territory. Data activities violating the law, including providing important data to overseas actors, falls under the scope of the Data Security Law’s regulation which highlights the concept of “data sovereignty”. Experts indicate that the law marks the establishment of a legal framework for data and information security.

• Continued emphasis on financial involvement in pursuing China’s environmental goals

  June 16, 2021

  Zhou Liang, vice-chairman of China’s Banking and Insurance Regulatory Commission (CBIRC), in line recent promotion of Green Finance records emphasized that China should work towards creating a regulatory framework for low-carbon development and green finance. Zhou stated that financial institutions must be involved, and legal frameworks must be clarified to accomplish China’s environmental goals.

• Three astronauts make history after successfully reaching Tianhe space station core module

  June 17, 2021

  On 17 June, the Shenzhou-12 manned spaceship was launched on the Long March 2F rocket from the Jiuquan Satellite Launch Center in northwest China. The spaceship carried three astronauts, Nie Haisheng, Liu Boming and Tang Hongbo, into space for the purpose of constructing China’s space station. The ship successfully reached and docked the Tianhe core module of the future station.

• CBIRC looks to further regulate shareholders

  June 18, 2021

  On 17 June, CBIRC released the trial version of the “measures for supervision of the behavior of major shareholders of banking and insurance institutions”. The measures aim to improve the governance of the institutions, strengthen supervision of shareholders’ equity, and effectively prevent financial risks. Analysts believe the measures follow the tone of “risk-management” set by China’s financial regulators in 2020.