Legislation Digest

State Administration for Industry and Commerce, Measures for the Administration of the Registration of Debt-for-equity Swaps of Companies [Legislation Digest]
国家工商行政管理总局公司债权转股权登记管理办法
Debts have to be appraised for a debt-for-equity swap.

National Statistics Bureau and State Administration for Industry and Commerce, Provisions for the Classification of Types of Enterprise Registration (Revised) [Legislation Digest]
国家统计局、国家工商行政管理总局关于划分企业登记注册类型的规定(修订)
Classification of enterprise registration revised to incorporate foreign partnerships.

State-owned Assets Supervision and Administration Commission of the State Council, Tentative Measures for the Administration of Overseas State-owned Assets and Equity of Enterprises Directly under the Central Government [Legislation Digest]
国务院国有资产监督管理委员会中央企业境外国有产权管理暂行办法
Sasac tightens control of overseas state-owned subsidiaries.

China Insurance Regulatory Commission, Measures for the Administration of the Capital Guarantee Funds of Insurance Companies [Legislation Digest]
中国保险监督管理委员会保险险公司资本保证金管理办法
Insurance companies required to deposit capital guarantee funds in more than one bank.

China Securities Regulatory Commission, Trial Measures for the Regulation of the Securities and Loan Lending Business [Legislation Digest]
中国证券监督管理委员会转融通业务监督管理试行办法
Securities and loan lending to facilitate margin trading and short selling.

State Administration of Foreign Exchange, Circular on Issues Relevant to the Handling of the Renminbi-foreign Exchange Option Portfolio Business by Banks [Legislation Digest]
国家外汇管理局关于银行办理人民币对外汇期权组合业务有关问题的通知
Safe puts forward risk-reversal option portfolios.

State Council, PRC Tentative Regulations on Resource Tax (Revised) [Legislation Digest]
国务院中华人民共和国资源税暂行条例 (修订)
Ad valorem method used for calculation of resource tax for crude oil and natural gas.

Ministry of Finance, Ministry of Commerce, General Administration of Customs and State Administration of Taxation, Circular on Continuing Implementation of the Tax Policy for the Procurement of Equipment by Research and Development Institutions [Legislation Digest]
财政部、商务部、海关总署、国家税务总局关于继续执行研发机构采购设备税收政策的通知
Tax policy continued to encourage R&D institutions.

Ministry of Finance and State Administration of Taxation, Plan for Pilot Projects for the Levy of Value-added Tax in Replace of Business Tax [Legislation Digest]
财政部、国家税务总局营业税改征增值税试点方案
Transport and logistics sectors benefit from the new VAT reform.

Ministry of Finance, Implementing Rules for the PRC Tentative Regulations on Value-added Tax (2nd Revision) [Legislation Digest]
财政部中华人民共和国增值税暂行条例实施细则 (第二次修正)
Thresholds for levy of value-added tax raised.

Ministry of Finance, Implementing Rules for the PRC Tentative Regulations on Business Tax (2nd Revision) [Legislation Digest]
财政部中华人民共和国营业税暂行条例实施细则 (第二次修正)
Thresholds for levy of business tax raised.

State Administration of Taxation, Announcement on the Issue Concerning Whether Entities that Employ Disabled Persons are Eligible for More than One Preferential Value-added Tax Policies [Legislation Digest]
国家税务总局关于安置残疾人单位是否可以同时享受多项增值税优惠政策问题的公告
Employers hiring disabled persons may enjoy multiple VAT tax refunds.

Other Recent Legislation for This Month [Legislation Digest]

China Banking Regulatory Commission, Measures for the Administration of the Sale of Wealth Management Products of Commercial Banks [Legislation Digest]
中国银行业监督管理委员会商业银行理财产品销售管理办法
Assessment of the risk bearing capacities of customers required for the sale of wealth management products of banks.

State Administration of Foreign Exchange, State Administration of Taxation and General Administration of Customs, Announcement on the Pilot Reform of the Foreign Exchange Control System for Trade in Goods [Legislation Digest]
国家外汇管理局、国家税务总局、海关总署关于货物贸易外汇管理制度改革试点的公告
Export foreign exchange procedures streamlined.

People’s Bank of China, Measures for the Administration of Renminbi Settlement Matters Relating to Foreign Direct Investment [Legislation Digest]
中国人民银行外商直接投资人民币结算业务管理办法
More outbound cross-border Rmb investments expected from FDI earnings.

Ministry of Commerce, Circular on Issues Relevant to Cross-border Direct Investment in Renminbi [Legislation Digest]
商务部关于跨境人民币直接投资有关问题的通知
FDI in Rmb officially allowed.

China Insurance Regulatory Commission, Tentative Measures for Administration of the Transfer of Insurance Business by Insurance Companies [Legislation Digest]
中国保险监督管理委员会保险公司保险业务转让管理暂行办法
Exit mechanism created for insurance companies.

China Insurance Regulatory Commission, Measures for the Administration of the Anti-money Laundering Work in the Insurance Industry [Legislation Digest]
中国保险监督管理委员会保险业反洗钱工作管理办法
New anti-money laundering measures prohibit equity investment from unlawful fund sources.

China Insurance Regulatory Commission, Measures for the Administration of Subordinated Debt with Fixed Term of Insurance Companies [Legislation Digest]
中国保险监督管理委员会保险公司次级定期债务管理办法
Issue of subordinated debt with fixed term by insurance companies tightened.

China Insurance Regulatory Commission, Measures for the Regulation of insurance Intermediary Service Group Companies (Trial Implementation) [Legislation Digest]
中国保险监督管理委员会保险中介服务集团公司监管办法 (试行)
CIRC sets entry thresholds for insurance intermediary companies.

China Securities Regulatory Commission, Provisions for the Establishment of Management Systems for the Registration of Persons Who Have Knowledge of Insider Information by Listed Companies [Legislation Digest]
中国证券监督管理委员会关于上市公司建立内幕信息知情人登记管理制度的规定
Listed companies required to set up files of persons with insider information.

Ministry of Transport, Circular on Strengthening the Examination, Approval and Administration of Wholly Foreign-owned Shipping Companies [Legislation Digest]
交通运输部关于加强外商独资船务公司审批管理工作的通知
Foreign shipping firms allowed to set up WFOEs in China.

General Administration of Quality Supervision, Inspection and Quarantine, Measures for the Administration of Certification Institutions [Legislation Digest]
国家质量监督检验检疫总局认证机构管理办法
Regulation of certification institutions strengthened.

State Council, PRC Regulations for the Exploitation of Offshore Oil Resources in Cooperation with Foreign Parties (3rd Revision) [Legislation Digest]
国务院中华人民共和国对外合作开采海洋石油资源条例 (第三次修订)
Offshore oil exploitation pays resource tax.

State Council, PRC Regulations for the Exploitation of Onshore Oil Resources in Cooperation with Foreign Parties (3rd Revision) [Legislation Digest]
国务院中华人民共和国对外合作开采陆上石油资源条例 (第三次修订)
Onshore oil exploitation pays resource tax.

Other Recent Legislation for This Month [Legislation Digest]

Ministry of Finance, Measures for the Examination, Approval and Regulation of Asset Valuation Firms [Legislation Digest]
财政部资产评估机构审批和监督管理办法
Asset valuation firms in the form of special general partnerships allowed.

Supreme People’s Court, Provisions on Several Issues Concerning the Application of the «PRC Enterprise Bankruptcy Law» (1) [Legislation Digest]
最高人民法院关于适用《中华人民共和国企业破产法》若干问题的规定（一）
First SPC interpretation on the Enterprise Bankruptcy Law.

Ministry of Commerce, Tentative Provisions for the Assessment of Competitive Effects of Concentrations of Business Operators [Legislation Digest]
商务部关于评估经营者集中竞争影响的暂行规定
Factors laid out for consideration of the competitive effects of concentrations.

Ministry of Finance and National Development and Reform Commission, Tentative Measures for the Administration of Funds for Equity Participation in Venture Investment by the Venture Investment in Emerging Industries Scheme [Legislation Digest]
财政部、国家发展改革委员会新兴产业创投计划参股创业投资基金管理暂行办法
Central government finances may directly invest in venture investment enterprises.

Ministry of Human Resources and Social Security, Tentative Measures for the Enrolment in Social Insurance by Foreign Nationals Employed in China [Legislation Digest]
人力资源和社会保障部在中国境内就业的外国人参加社会保险暂行办法
Expats are required to be enrolled in social insurance.

State Council, Regulations for Work-related Injury Insurance (Revised) [Legislation Digest]
国务院工伤保险条例 (修订)
Rate for the lump sum work-related death supplement specified.

State Administration of Foreign Exchange, Circular on Issues Relevant to the Determination of Quotas for Provision of Security to Foreign Parties for Financing Purposes of Banks in China for the Year 2011 [Legislation Digest]
国家外汇管理局关于核定境内银行2011年度融资性对外担保余额指标有关问题的通知
Safe lowers banks’ quotas for provision of security to foreign parties.

Ministry of Commerce, Provisions for the Implementation of the System for Security Review of Acquisition of Domestic Enterprises by Foreign Investors [Legislation Digest]
商务部实施外国投资者并购境内企业安全审查制度的规定
Mofcom prohibits circumvention of M&A security review by means of offshore transactions

China Securities Regulatory Commission, Measures on Trial Business of Asset Management for Specific Clients of Fund Management Companies [Legislation Digest]
中国证券监督管理委员会基金管理公司特定客户资产管理业务试点办法
Entry thresholds lowered for fund management companies engaging in dedicated asset management.

State-owned Assets Supervision and Administration Commission of the State Council, Circular on Matters Relevant to the Exchange of State-owned Assets and Equity of Enterprises Directly under the Central Government [Legislation Digest]
国务院国有资产监督管理委员会关于中央企业国有产权置换有关事项的通知
Restrictions imposed on exchange of state-owned assets and equity.

Ministry of Finance and State Administration of Taxation, Circular on the Deed Tax Policy for the Change of Ownership of Premises or Land from One Party to a Marriage to Co-ownership by Both Parties to the Marriage [Legislation Digest]
财政部、国家税务总局关于房屋、土地权属由夫妻一方所有变更为夫妻双方共有契税政策的通知
Deed tax exempted for adding spouse’s name to the property.

Other Recent Legislation for This Month [Legislation Digest]

China Banking Regulatory Commission, Measures for the Administration of the Leverage Ratio of Commercial Banks [Legislation Digest]
中国银行业监督管理委员会商业银行杠杆率管理办法
First set of measures on the leverage ratio of banks.

China Banking Regulatory Commission, Circular on Matters Relevant to Revising the Approval Procedure for the Establishment of Rural Banks [Legislation Digest]
中国银行业监督管理委员会关于调整村镇银行组建核准有关事项的通知
Stricter approval procedures for the establishment of rural banks.

People’s Bank of China, Circular on Clarifying Issues Relevant to Cross-border Renminbi Transactions [Legislation Digest]
中国人民银行关于明确跨境人民币业务相关问题的通知
Pilot Rmb settlement of FDI launched.

Ministry of Industry and Information Technology, National Bureau of Statistics, National Development and Reform Commission and Ministry of Finance, Provisions on the Classification Standards for Small- and Medium-sized Enterprises [Legislation Digest]
工业和信息化部、国家统计局、国家发展和改革委员会、财政部中小企业划型标准规定
Micro-sized enterprises included in new classification.

State Administration of Foreign Exchange, Circular on the Operating Guidelines for Issues Relevant to Requests for Confirmation of Capital Verification Required in the Re-investment of Foreign-invested Companies with an Investment Nature [Legislation Digest]
国家外汇管理局关于外商投资性公司再投资所涉验资询证有关问题操作指引的通知
Holding companies must increase capital before re-investment.

State Intellectual Property Office, Measures for the Record Filing of Patent Licensing Contracts [Legislation Digest]
国家知识产权局专利实施许可合同备案办法
Application procedure for record filing of patent licensing contracts streamlined.

China Securities Regulatory Commission, Measures for the Administration of the Sale of Securities Investment Funds (Revised) [Legislation Digest]
中国证券监督管理委员会证券投资基金销售管理办法（修订）
Foreign banks allowed to sell mutual funds in China.

China Securities Regulatory Commission, Guidelines for Regulation of the Direct Investment Business of Securities Companies [Legislation Digest]
中国证券监督管理委员会证券公司直接投资业务监管指引
Securities brokerages allowed to set up PE funds targeting institutional investors.

China Banking Regulatory Commission, Guidelines on the Participation in Stock Index Futures Trading by Trust Companies [Legislation Digest]
中国银行业监督管理委员会信托公司参与股指期货交易业务指引
Trust companies allowed to trade stock index futures.

Supreme People’s Court, Interpretation on Several Issues Concerning the Application of the «PRC Marriage Law» (3) [Legislation Digest]
最高人民法院关于适用〈中华人民共和国婚姻法〉若干问题的解释（三）
Interpretation deals with property disputes in marriage.

PRC Individual Income Tax Law (6th Revision) [Legislation Digest]
中华人民共和国个人所得税法 (第六次修正)
The new Law raises individual income tax threshold to Rmb3,500.

Other Recent Legislation for This Month [Legislation Digest]

Ministry of Finance, Guiding Opinion on Directing Enterprises to Select Accounting Firms Using Objective Standards [Legislation Digest]
财政部关于引导企业科学规范选择会计师事务所的指导意见
Large local accounting firms are being promoted.

China Banking Regulatory Commission, Circular on Supporting Commercial Banks to Further Improve the Financial Services for Small Enterprises [Legislation Digest]
中国银行业监督管理委员会关于支持商业银行进一步改进小企业金融服务的通知
Greater tolerance is allowed for NPL ratio of small enterprises.

China Securities Regulatory Commission, Rules for the Practice of Securities Law by Law Firms (Trial Implementation) [Legislation Digest]
中国证券监督管理委员会律师事务所证券法律业务执业规则（试行）
Original documents are required for lawyers’ verification of legal personality.

China Securities Regulatory Commission, Rules for the Practice of Securities Investment Fund Law by Law Firms (Trial Implementation) [Legislation Digest]
中国证券监督管理委员会律师事务所证券投资基金法律业务执业细则（试行）
Rules for lawyers to follow when verifying the offering of a securities investment fund.

National Development and Reform Commission, Guidance Catalogue for Industry Structure Adjustment (2011 Version) [Legislation Digest]
国家发展和改革委员会产业结构调整指导目录（2011年本）
Alternative energy and advertising included in the industry structure adjustment catalogue for the first time.

China Insurance Regulatory Commission, Circular on Launching Pilot Variable Annuity Projects [Legislation Digest]
中国保险监督管理委员会关于开展变额年金保险试点的通知
Pilot variable annuity projects launched in Beijing, Shanghai, Guangdong, Shenzhen and Xiamen.

China Insurance Regulatory Commission, Tentative Measures for the Administration of Variable Annuities [Legislation Digest]
中国保险监督管理委员会变额年金保险管理暂行办法
China’s variable annuities may provide GMDB, GMMB, GMIB and GMAB.

China Securities Regulatory Commission, Working Guidelines for the Review in Connection with the Administrative Permission of Securities Companies No.10: Share Increase and Changes in Equity Interests of Securities Companies [Legislation Digest]
中国证券监督管理委员会证券公司行政许可审核工作指引第10号——证券公司增资扩股和股权变更
Overseas investors may indirectly own 5% of equity interest in securities companies.

State Council, Guiding Opinion on the Launch of the Pilot Social Old-age Insurance Project for Urban Residents [Legislation Digest]
国务院关于开展城镇居民社会养老保险试点的指导意见
China launches its social old-age insurance scheme.

Ministry of Health, Provisions on the Filing and the Acceptance Thereof of New Varieties of Food-related Products [Legislation Digest]
卫生部食品相关产品新品种申报与受理规定
Provisions to combat inclusion of inedible substance in foodstuffs.

Ministry of Finance and State Administration of Taxation, Circular on Issues Relevant to the Tax Rate Applicable to and the Setoff of Tax on Overseas Income of High and New Technology Enterprises [Legislation Digest]
财政部、国家税务总局关于高新技术企业境外所得适用税率及税收抵免问题的通知
Foreign income of high and new technology enterprises also enjoys 15% preferential tax rate.

Shanghai Municipality, Several Opinions on Accelerating the Development of New Towns in Shanghai [Legislation Digest]
上海市关于本市加快新城发展的若干意见
Shanghai to develop suburbs into new towns.

Other Recent Legislation for This Month [Legislation Digest]

China Banking Regulatory Commission, Guiding Opinion on the Implementation of New Regulatory Standards by China’s Banking Sector [Legislation Digest]
中国银行业监督管理委员会关于中国银行业实施新监管标准的指导意见
Banks required to meet capital adequacy ratio requirements of Basel III.

State Administration of Foreign Exchange, Circular on Abolishing and Revising the Examination and Approval Authority and Administrative Measures for Certain Foreign Exchange Transactions on the Capital Account [Legislation Digest]
国家外汇管理局关于取消和调整部分资本项目外汇业务审核权限及管理措施的通知
Safe streamlines foreign exchange approval procedures.

China Insurance Regulatory Commission, Guidelines for Check and Acceptance in Respect of the Commencement of Business of Insurance Companies [Legislation Digest]
中国保险监督管理委员会保险公司开业验收指引
Insurance companies require Rmb200 million to commence business.

China Insurance Regulatory Commission, Circular on Strengthening the Administration of the Underwriting of Agricultural Insurance [Legislation Digest]
中国保险监督管理委员会关于加强农业保险承保管理工作的通知
CIRC strengthens regulation of the agricultural insurance business.

Supreme People’s Court, Annual Report on Intellectual Property Cases (2010) (Abstract) [Legislation Digest]
最高人民法院知识产权案件年度报告 (2010) (摘要)
Design can still be protected under Anti-unfair Competition Law after the patent expires.

China Securities Regulatory Commission, Guidelines for the Participation in Stock Index Futures Trading by Qualified Foreign Institutional Investors [Legislation Digest]
中国证券监督管理委员会合格境外机构投资者参与股指期货交易指引
QFIIs may trade stock index futures only for hedging purposes.

China Securities Regulatory Commission, Rules for Determining the Administrative Liability for Acts of Violation of Information Disclosure Laws [Legislation Digest]
中国证券监督管理委员会信息披露违法行为行政责任认定规则
Sponsors and investment consultants may be liable for disclosure violations.

National Development and Reform Commission, Circular on Duly Carrying out the Delegation of the Authority to Check and Approve Outbound Investment Projects to Lower-level Authorities [Legislation Digest]
国家发展改革委员会关于做好境外投资项目下放核准权限工作的通知
Approval of outbound resources investment project relaxed.

State Administration of Taxation, Announcement on Several Issues Concerning the Administration of Income Tax of Non-tax-resident Enterprises [Legislation Digest]
国家税务总局关于非居民企业所得税管理若干问题的公告
Tax should be withheld from rent income of non-tax-residents without an establishment.

Fujian Province, Implementing Measures for the Work Associated with the Pilot Projects for the Establishment of Representative Offices in Fuzhou and Xiamen by Law Firms from Taiwan [Legislation Digest]
福建省台湾地区律师事务所在福州厦门设立代表机构试点工作实施办法
Taiwan law firms allowed to set up representative offices in Fuzhou and Xiamen.

Shanghai Municipality, Several Opinions on Further Delegating the Authority to Check and Approve Foreign-invested Projects to Lower-level Authorities [Legislation Digest]
上海市关于进一步下放外商投资项目核准权限的若干意见
Biggest delegation of foreign investment approval in Shanghai.

Other Recent Legislation for This Month [Legislation Digest]

Ministry of Finance, Tentative Provisions for the Temporary Conduct of Auditing in Mainland China by Overseas Accounting Firms [Legislation Digest]
财政部境外会计师事务所在中国内地临时执行审计业务暂行规定
Provisions for temporary auditing unified.

China Insurance Regulatory Commission and China Banking Regulatory Commission, Guidelines for Regulation of the Bancassurance Business of Commercial Banks [Legislation Digest]
中国保险监督管理委员会、中国银行业监督管理委员会商业银行代理保险业务监管指引
Criteria should be met for selecting bancassurance cooperation counterparties.

State Administration of Foreign Exchange, Circular on Issues Relevant to the Determination of Short-term Foreign Debt Quotas of Domestic Institutions for the Year 2011 [Legislation Digest]
国家外汇管理局关于核定2011年度境内机构短期外债余额指标有关问题的通知
Safe reduces short-term foreign debt quotas again.

State Administration of Foreign Exchange, Circular on Issues Relevant to Further Strengthening the Administration of Foreign Exchange Transactions [Legislation Digest]
国家外汇管理局关于进一步加强外汇业务管理有关问题的通知
Four new measures to prevent inflow of hot money.

China Insurance Regulatory Commission, Circular on Amending the Relevant Provisions of the «Tentative Provisions for the Administration of Insurance Asset Management Companies» [Legislation Digest]
中国保险监督管理委员会关于调整《保险资产管理公司管理暂行规定》有关规定的通知
CIRC revises establishment criteria for insurance asset management companies.

People’s Bank of China and Ministry of Finance, Announcement [2011] No.6 [Legislation Digest]
中国人民银行、财政部公告〔2011〕第6号
New rules on market making of newly issued critical-term bonds.

China Securities Regulatory Commission, Trial Measures on the Futures Investment Consultancy Services of Futures Companies [Legislation Digest]
中国证券监督管理委员会期货公司期货投资咨询业务试行办法
Futures companies allowed to engage in futures investment consultancy services.

General Administration of Press and Publication and Ministry of Commerce, Provisions for the Administration of the Publications Market [Legislation Digest]
新闻出版总署、商务部出版物市场管理规定
Foreign investors placed under the same entry requirements for publication distribution as domestic investors.

State Administration of Taxation, Announcement on Issues Relevant to Expanding the Scope of Enterprises to Which the Measures for Administration of the Exemption, Setoff and Refund of Tax Apply [Legislation Digest]
国家税务总局关于扩大适用免抵退税管理办法企业范围有关问题的公告
Tax exemption of software design enterprises extended to entrustment of processing.

State Administration of Taxation, Circular on Earnestly Strengthening the Administration of the Levy and Collection of Individual Income Tax on High-income Earners [Legislation Digest]
国家税务总局关于切实加强高收入者个人所得税征管的通知
SAT checks on investment income of high-income earners.

Shanghai Stock Exchange, Implementing Guidelines on Affiliated Transactions of Listed Companies [Legislation Digest]
上海证券交易所上市公司关联交易实施指引
Affiliated transactions at a premium price require stringent disclosure and decision-making procedure.

Other Recent Legislation for This Month [Legislation Digest]

China Banking Regulatory Commission, Circular on Regulating the Use of External Credit Rating by Commercial Banks [Legislation Digest]
中国银行业监督管理委员会关于规范商业银行使用外部信用评级的通知
Banks may not rely solely on external credit rating for granting credit.

Ministry of Commerce, Tentative Provisions on Matters Relevant to the Implementation of the System for Security Review of Acquisition of Domestic Enterprises by Foreign Investors [Legislation Digest]
商务部实施外国投资者并购境内企业安全审查制度有关事项的暂行规定
Mofcom may terminate M&A transactions that affect national security.

Ministry of Commerce, Circular on Issues Relevant to the Administration of Foreign Investment [Legislation Digest]
商务部关于外商投资管理工作有关问题的通知
Mofcom lifts the examination and approval requirement for certain foreign investment matters.

China Insurance Regulatory Commission, Circular on Matters Relevant to Regulating the Provision of Security to External Parties by Insurance Institutions [Legislation Digest]
中国保险监督管理委员会关于规范保险机构对外担保有关事项的通知
Insurance institutions not allowed to provide external security.

State Intellectual Property Office, Measures for Administrative Law Enforcement in Connection with Patents [Legislation Digest]
国家知识产权局专利行政执法办法
Parties to patent infringement cases relieved from burden of proof.

China Securities Regulatory Commission, Opinions on the Application of Securities and Futures Laws No.7: Opinion on the Application of Article 62 of the «Measures for the Administration of the Takeover of Listed Companies» Concerning Listed Companies Facing Serious Financial Difficulties [Legislation Digest]
中国证券监督管理委员会《上市公司收购管理办法》第六十二条有关上市公司严重财务困难的适用意见—证券期货法律适用意见第7号
CSRC gives a definition of a seriously distressed company.

China Securities Regulatory Commission, Opinions on the Application of Securities and Futures Laws No.8: Opinion on the Application of Articles 62 and 63 of the «Measures for the Administration of the Takeover of Listed Companies» Concerning a Coincidence of the Clauses on the Application for an Exemption from Making an Offer [Legislation Digest]
中国证券监督管理委员会《上市公司收购管理办法》第六十二条、 第六十三条有关要约豁免申请的条款发生竞合时的适用意见—证券期货法律适用意见第8号
Acquirers allowed to select their own offer exemption clause in case of a coincidence of clauses.

China Securities Regulatory Commission, Opinions on the Application of Securities and Futures Laws No.9: Opinion on the Application of Article 74 of the «Measures for the Administration of the Takeover of Listed Companies» Concerning the Determination of the Time of Completion of an Acquisition to Increase the Shares Held in a Listed Company Accomplished through Centralised Competitive Trading [Legislation Digest]
中国证券监督管理委员会《上市公司收购管理办法》第七十四条有关通过集中竞价交易方式增持上市公司股份的收购完成时点认定的适用意见—证券期货法律适用意见第9号
Time of completion of an acquisition to increase shareholding clarified.

China Securities Regulatory Commission, Opinions on the Application of Securities and Futures Laws No.11: Opinion on the Application of Article 12 of the «Measures for the Administration of Material Asset Reorganisations by Listed Companies» Concerning the Calculation of Percentages Relating to the Purchase or Sale of the Identical or Related Assets by Listed Companies for a Continuous Period of 12 Months [Legislation Digest]
中国证券监督管理委员会《上市公司重大资产重组管理办法》第十二条上市公司在12个月内连续购买、出售同一或者相关资产的有关比例计算的适用意见—证券期货法律适用意见第11号
Calculation of percentages relating to the purchase or sale of the identical or related assets by listed companies for a continuous period of 12 months clarified.

Ministry of Culture, Tentative Provisions for the Administration of the Culture of the Internet [Legislation Digest]
文化部互联网文化管理暂行规定
Internet game business requires Rmb10 million of registered capital.

General Office of the National Development and Reform Commission, Circular on Further Regulating the Development and the Administration by Record Filing of Equity Investment Enterprises in Pilot Areas [Legislation Digest]
国家发展改革委办公厅关于进一步规范试点地区股权投资企业发展和备案管理工作的通知
First attempt to regulate private equity enterprises nationwide.

Other Recent Legislation for This Month [Legislation Digest]

PRC People’s Mediation Law [Legislation Digest]
中华人民共和国人民调解法
Mediation settlement agreements are legally binding.

Supreme People’s Court, Provisions on Several Issues Concerning the Application of the «PRC Company Law» (3) [Legislation Digest]
最高人民法院关于适用《中华人民共和国公司法》若干问题的规定(三)
Issues in company capital contribution clarified.

State Administration of Foreign Exchange, Circular on Foreign Exchange Control Issues Relevant to the Renminbi and Foreign Currency Swap Services Provided by Designated Foreign Exchange Banks to Clients [Legislation Digest]
国家外汇管理局关于外汇指定银行对客户人民币外汇货币掉期业务有关外汇管理问题的通知
Renminbi and foreign currency swaps offered to the customer market.

General Office of the State Council, Circular on the Establishment of a System for Security Review of Acquisition of Domestic Enterprises by Foreign Investors [Legislation Digest]
国务院办公厅关于建立外国投资者并购境内企业安全审查制度的通知
China screens M&A deals for national security reasons.

Supreme People’s Court, Supreme People’s Procuratorate and Ministry of Public Security, Opinion on Several Issues Concerning the Application of the Law in Handling Criminal Cases of Intellectual Property Infringement [Legislation Digest]
最高人民法院、最高人民检察院、公安部关于办理侵犯知识产权刑事案件适用法律若干问题的意见
SPC issues an opinion to combat online infringement.

State Administration of Foreign Exchange, Circular on Issues Relevant to the Trading of Renminbi to Foreign Currency Options [Legislation Digest]
国家外汇管理局关于人民币对外汇期权交易有关问题的通知
China launches trading of renminbi to foreign currency options.

Supreme People’s Court, Provisions on Several Issues Concerning the Trial of Futures Disputes (2) [Legislation Digest]
最高人民法院关于审理期货纠纷案件若干问题的规定(二)
New provisions to protect clearing margins of non-clearing members.

State Council, Circular on Issues Relevant to Improving the Regulation and Control of the Real Property Market [Legislation Digest]
国务院办公厅关于进一步做好房地产市场调控工作有关问题的通知
State Council’s eight articles to further curb property prices.

State Council, Several Policies for Further Encouraging the Development of the Software Industry and Integrated Circuit Industry [Legislation Digest]
国务院进一步鼓励软件产业和集成电路产业发展若干政策
Tax incentives offered to software and integrated circuit industries.

Ministry of Health, Circular on Revising the Examination and Approval Authority for Sino-foreign Equity and Cooperative Joint Medical Institutions [Legislation Digest]
卫生部关于调整中外合资合作医疗机构审批权限的通知
Approval of joint medical institutions delegated to provincial-level departments.

Ministry of Finance and State Administration of Taxation, Circular on Issues Concerning the Enterprise Income Tax Policy for Technology Transfers by Tax-resident Enterprises [Legislation Digest]
财政部、国家税务总局关于居民企业技术转让有关企业所得税政策问题的通知
Tax circular issued to clarify scope of technology transfers.

Ministry of Finance and State Administration of Taxation, Circular on Revising the Business Tax Policy for Assignment of Residential Premises by Individuals [Legislation Digest]
财政部、国家税务总局关于调整个人住房转让营业税政策的通知
Full business tax levied on sale of property within five years.

Beijing Municipality, Circular on Thorough Implementation of the Spirit of the Document of the General Office of the State Council to Further Strengthen the Regulation and Control of the Real Property Market of the Municipality [Legislation Digest]
北京市关于贯彻落实国务院办公厅文件精神进一步加强本市房地产市场调控工作的通知
Foreign property purchasers required five years of tax payment in Beijing.

Chongqing Municipality, Tentative Measures for the Implementation of the Pilot Reform of the Levy of Property Tax on Certain Residential Premises for Individuals [Legislation Digest]
重庆市关于进行对部分个人住房征收房产税改革试点的暂行办法
Chongqing imposes property tax on high-end properties.

Shanghai Municipality, Tentative Measures on the Launch of the Pilot Project for Levy of Property Tax on Certain Residential Premises for Individuals [Legislation Digest]
上海市开展对部分个人住房征收房产税试点的暂行办法
Shanghai imposes property tax on the second property.

Shanghai Municipality, Announcement on Matters Relevant to the Administration of the Levy of Property Tax on Residential Premises for Individuals in the Municipality [Legislation Digest]
上海市关于本市个人住房房产税征收管理有关事项的公告
Shanghai issues the formula for calculating property tax.

Other Recent Legislation for This Month [Legislation Digest]

National Development and Reform Commission, Anti-price Monopoly Provisions [Legislation Digest]
国家发展和改革委员会反价格垄断规定
Competing business operators prohibited from colluding in fixing prices.

State Administration for Industry and Commerce, Provisions for the Prohibition by Administrations for Industry and Commerce of Acts of Monopolistic Agreements [Legislation Digest]
国家工商行政管理总局工商行政管理机关禁止垄断协议行为的规定
SAIC defines monopolistic agreements.

State Administration for Industry and Commerce, Provisions for the Prohibition by Administrations for Industry and Commerce of Acts of Abuse of Dominant Market Position [Legislation Digest]
国家工商行政管理总局工商行政管理机关禁止滥用市场支配地位行为的规定
SAIC gives definition to abuse of dominant market position.

State Administration for Industry and Commerce, Provisions for the Suppression by Administrations for Industry and Commerce of Acts of Abuse of Administrative Authority to Eliminate or Restrict Competitive Acts [Legislation Digest]
国家工商行政管理总局工商行政管理机关制止滥用行政权力排除、限制竞争行为的规定
SAIC cracks down on abuse of administrative authority to restrict competition.

National Development and Reform Commission, Provisions on the Administrative Law Enforcement Procedure for Anti-price Monopoly [Legislation Digest]
国家发展和改革委员会反价格垄断行政执法程序规定
Everyone has the right to report acts of price monopoly.

State Administration of Foreign Exchange, Guidelines for Market Makers of the Interbank Foreign Exchange Market [Legislation Digest]
国家外汇管理局银行间外汇市场做市商指引
Different qualifications are required of forex market makers.

Ministry of Health and Ministry of Commerce, Tentative Measures for the Administration of the Establishment of Wholly-owned Hospitals in the Mainland by Hong Kong and Macao Service Providers [Legislation Digest]
卫生部、商务部香港和澳门服务提供者在内地设立独资医院管理暂行办法
Hong Kong and Macao investors allowed to set up wholly-owned hospitals in Shanghai, Chongqing and three other provinces.

China Insurance Regulatory Commission, Implementing Guidelines for Comprehensive Risk Management of Personal Insurance Companies [Legislation Digest]
中国保险监督管理委员会人身保险公司全面风险管理实施指引
Insurance companies to apply comprehensive risk management.

National Association of Financial Market Institutional Investors, Business Rules for Super Short-term Commercial Paper of Non-financial Enterprises in the Interbank Bond Market (Trial Implementation) [Legislation Digest]
中国银行间市场交易商协会银行间债券市场非金融企业超短期融资券业务规程 (试行)
Super short-term commercial paper allowed in the interbank bond market.

General Office of the Ministry of Commerce, Circular on Strengthening the Administration of the Examination and Approval and Record Filing of Foreign Investment in the Real Property Sector [Legislation Digest]
商务部办公厅关于加强外商投资房地产业审批备案管理的通知
Mofcom curbs on round-trip real property investment.

Ministry of Health and Ministry of Commerce, Tentative Measures for the Administration of the Establishment of Wholly-owned Hospitals in the Mainland by Taiwan Service Providers [Legislation Digest]
卫生部、商务部台湾服务提供者在大陆设立独资医院管理暂行办法
Taiwan investors allowed to set up wholly-owned hospitals in Shanghai and four other provinces.

Beijing Municipality, Implementing Rules for the Tentative Provisions on the Quantity Control of Small Passenger Vehicles [Legislation Digest]
《北京市小客车数量调控暂行规定》实施细则
Beijing cuts down on the number of motor vehicles.

Shanghai Municipality, Implementing Measures for the Launch of a Pilot Foreign-invested Equity Investment Enterprise Project in the Municipality [Legislation Digest]
上海市关于本市开展外商投资股权投资企业试点工作的实施办法
Shanghai opens the market for private equity investments.