Insights

Hong Kong’s Intellectual Property Department has concluded a two-month public consultation on copyright concerns related to AI advancements. The consultation focused on protecting AI-generated works, addressing copyright infringement liability, and introducing a potential text and data mining exception. The existing Copyright Ordinance can protect AI-generated works, treating them as “computer-generated” creations. The proposed changes aim to balance AI development promotion with copyright protection.

Effective November 1, 2024, the Administrative Measures on Beneficial Owner Information mandate that companies, partnerships, and foreign company branches in China disclose beneficial ownership details to enhance market transparency and combat money laundering. Issued by the People’s Bank of China (PBC) and State Administration for Market Regulation (SAMR), the Measures align China with global standards set by the G20 and FATF. Non-compliance may lead to fines up to 50,000 yuan. The disclosed information remains confidential and accessible only to authorized government and AML institutions, emphasizing the need for proactive compliance.