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A momentous year: recent legislative developments in Taiwan
A brief look at regulations that shaped Taiwan's investment landscape over the past year

People’s Bank of China, Measures for the Administration of Payment Services of Non-financial Institutions [Legislation Digest]
中国人民银行非金融机构支付服务管理办法
PBOC puts online payment services under scrutiny.

Supreme People’s Court, Circular on Several Issues Concerning the Application of the «PRC Tort Liability Law» [Legislation Digest]
最高人民法院关于适用《中华人民共和国侵权责任法》若干问题的通知
Applicability of the Tort Liability Law clarified.

Provisions for the Regulation of Food Additive Production [Full Text Translation]
食品添加剂生产监督管理规定
The Provisions set forth the application procedure for a food additive production permit, require the keeping of production management records and specify the particulars to be listed on the label and instructions for use.

Online accountability
Two sub-clauses in the new PRC Tort Liability Law determine for the first time the responsibility of network service providers regarding online infringement matters. But implementation and how the courts interpret unclear aspects of the clauses await testing

Guarding intangible assets
Even though new rules on the protection of state secrets fail to fully clarify existing definitions of classified information, they do provide guidance on standards and internal administrative reform for greater consistency across the classification regime

PRC Tort Liability Law [Legislation Digest]
中华人民共和国侵权责任法
China’s first tort liability law.

State Council, Approval and Transmission of the «National Development and Reform Commission, Circular on the Opinion on the Major Work on Deepening the Reform of the Economic System in Year 2010» [Legislation Digest]
国务院批转发展改革委关于2010年深化经济体制改革重点工作意见的通知
China seeks to levy property taxes.

PRC Tort Liability Law [Full Text Translation]
中华人民共和国侵权责任法
The Law deals with tort liability relating to products, motor vehicle traffic accidents, medical treatment, environmental pollution, high risk operations, kept animals and things.

State Council, Several Opinions on Encouraging and Guiding the Healthy Development of Investments from the Private Sector [Legislation Digest]
国务院关于鼓励和引导民间投资健康发展的若干意见
Private sector investments allowed in commercial bank equity investment.

Protecting the people
After eight years, China’s long-awaited Tort Liability Law is primed to wholesale regulate tort liability and re-set quality standards for PRC-made products. Clarifications on product liability, punitive damages and statutes of limitation are addressed, but enforcement and integration with existing regulations, along with other vagaries, remain to be tested

Circular on Measures for Reviewing the Qualifications of Foreign-invested Research and Development Centres for Tax Exemptions/Refunds on Procured Equipment [Full Text Translation]
关于外资研发中心采购设备免/退税资格审核办法的通知
The Circular clarifies matters relating to the exemption of import taxes on articles imported by foreign-invested research and development centres for scientific and technological development purposes and the refund in full of the value-added tax on Chinese-made equipment procured by them.

State Administration of Foreign Exchange, Provisions on the Pilot Reform of the System of Verification of Foreign Exchange Payments for Imports [Legislation Digest]
国家外汇管理局进口付汇核销制度改革试点规定
Forex verification procedure simplified for importers.

State Council, Several Opinions on Further Improving the Work on the Use of Foreign Investment [Legislation Digest]
国务院关于进一步做好利用外资工作的若干意见
State Council delegates approval of foreign investment to lower level authorities.

Ministry of Commerce, Ministry of Finance, General Administration of Customs and State Administration of Taxation, Circular on Measures for Reviewing the Qualifications of Foreign-invested Research and Development Centres for Tax Exemptions/Refunds on Procured Equipment [Legislation Digest]
商务部、财政部、海关总署、国家税务总局关于外资研发中心采购设备免/退税资格审核办法的通知
Tax exemption for foreign-invested R&D centres clarified.

Ministry of Finance, General Administration of Customs and State Administration of Taxation, Circular on Launching the Pilot Project for Export Tax Rebate for Vessels under Lease Financing in the Tianjin Municipality [Legislation Digest]
财政部、海关总署、国家税务总局关于在天津市开展融资租赁船舶出口退税试点的通知
Tianjin exempts tax on sale of vessels to foreign lessees.

A new law, a new look
Upgrading the "Made in China" image

Rural reform
In a recent push to jumpstart initiatives that would develop its countryside, the central Chinese government has issued a new opinion that offers rural inhabitants much needed financial support and resources

Stay on target with due diligence
At Asialaw’s In-house Counsel Summit in Hong Kong on March 17 2010, Danone’s Asia-Pacific general counsel David Flavell reviewed recent trends in target due diligence practices

China's rural reform: Looking inward (and a little bit outward)

Central Committee of the Communist Party of China and State Council, Several Opinions on Intensifying the Co-ordination of Urban and Rural Development and Further Strengthening the Basis for Agricultural and Rural Development [Legislation Digest]
中共中央国务院关于加大统筹城乡发展力度进一步夯实农业农村发展基础的若干意见
China urbanises rural towns.

China's legal system: a work in progress that demands respect

A trustee's duty of care

UK Bribery Bill: The long arm of the Crown
A new British law will force any company with a business presence in the UK to operate an adequate anti-bribery policy overseas. The burden is likely to be particularly heavy for those operating in China

Ministry of Justice, Measures for the Administration of Names of Law Firms [Legislation Digest]
司法部律师事务所名称管理办法
“Lawyers Group” and “Lawyers Alliance” not allowed in law firm names.

Circular on Strengthening the Administration of Enterprise Income Tax on Income Derived from the Transfer of Equity of Non-tax-resident Enterprises [Full Text Translation]
关于加强非居民企业股权转让所得企业所得税管理的通知
The Circular aims to prevent tax evasion by non-tax-resident enterprises through transfer of equity.

State Administration of Taxation, Circular on Strengthening the Administration of Enterprise Income Tax on Income Derived from the Transfer of Equity of Non-tax-resident Enterprises [Legislation Digest]
国家税务总局关于加强非居民企业股权转让所得企业所得税管理的通知
SAT cracks down on tax evasion by non-tax-resident enterprises.

Foreign-invested partnership regulations: radical reform or unmet expectations?
New rules on foreign-invested partnerships have raised hopes of a new investment vehicle for inbound business. But their effectiveness appears limited

Extraterritorial enforcement of corporate income tax
A tax circular which seeks to strengthen the administration of tax on income derived from equity transfer may have a profound impact on non-resident investors using offshore vehicles. But the authorities have some legal hurdles to clear

Shanghai Municipality, Seven Measures for Providing Convenience in Entry into and Exit from China for Foreign High-level Skilled Personnel and Investors [Legislation Digest]
上海市外国籍高层次人才和投资者7项出入境便利措施
Foreign skilled personnel in Shanghai allowed for a five-year stay.