This article is the result of collaboration between Gao Feng Advisory Company and King & Wood Mallesons. The rapid rise of generative AI brings tremendous opportunities alongside ethical risks. Complex challenges have emerged around data privacy, authenticity, intellectual property, and regulation. Balanced governance is needed to spur innovation responsibly and laws alone are insufficient. We need to build collaborative solutions spanning policy, corporate ethics, and public awareness that can enable businesses to deploy the technology responsibly, particularly across international borders.