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A group of influential Chinese AI policy scholars released a recommended draft version of China's proposed AI Law, signaling a significant step towards the country's approach to AI governance. The draft, proposed by experts from seven institutions on March 16, focuses on the protection of user rights, including equal rights and the right to be informed, and advocates for a dynamic approach to intellectual property. This development comes amid warnings from Angela Zhang, Director at @cclhku, about the potential regulatory crisis due to the current lax approach to AI by Chinese regulators, as discussed in a new PS Say More interview. The proposed law aims to balance the benefits and risks associated with AI, emphasizing the need for strong, forward-looking financial protection rules to prevent potential dangers and abuses.