The new E-signature Law has passed through all of its hoops and is now ready to become effective on April 1, 2005.

This new law legalizes electronic evidence and allows Internet users to use an e-seal, confidential codes, fingerprints, voice, or even retina scans to ensure the safety of their online transactions.

According to existing Chinese regulations, securities traders have to bear all losses caused by their password and account being controlled by others, regardless of the reason. With the new law, not only will traders have better security at their disposal, but they can now rely on the law to protect them against certain losses caused by phishing or hacking.