Legislation Digest

China Securities Regulatory Commission, Supplementary Provisions for the Pricing of Shares Issued for Material Asset Reorganisation of Listed Companies that are to Undergo Bankruptcy Restructuring [Legislation Digest]
中国证券监督管理委员会关于破产重整上市公司重大资产重组股份发行定价的补充规定
Negotiation of share prices allowed for bankruptcy restructuring

Supreme People’s Court and Supreme People’s Procuratorate, Opinion on Several Issues Concerning the Application of the Law in Handling Criminal Cases of Commercial Bribery [Legislation Digest]
最高人民法院、最高人民检察院关于办理商业贿赂刑事案件适用法律若干问题的意见
Boundary between bribery and gift giving clarified.

General Office of State Council, Several Current Opinions on Promoting Economic Development with Financial Policies [Legislation Digest]
国务院办公厅关于当前金融促进经济发展的若干意见
State Council issues 30 measures to boost the economy.

China Insurance Regulatory Commission, Circular on Matters Relevant to the Implementation of the «Provisions for the Administration of the Solvency of Insurance Companies» [Legislation Digest]
中国保险监督管理委员会关于实施《保险公司偿付能力管理规定》有关事项的通知
Criteria for assessing solvency of insurance companies elaborated

China Insurance Regulatory Commission, Circular on Strengthening the Administration of Investment-type Insurance Business of Property Insurance Companies [Legislation Digest]
中国保险监督管理委员会关于加强财产保险公司投资型保险业务管理的通知
Stricter criteria for sale of investment-type insurance by property insurance companies

China Securities Regulatory Commission, Tentative Provisions for the Examination and Approval of the Scope of Business of Securities Companies [Legislation Digest]
中国证券监督管理委员会证券公司业务范围审批暂行规定
Securities companies allowed to apply for margin trading and short selling.

China Securities Regulatory Commission, Measures for the Administration of the Sponsorship for Offering and Listing of Securities [Legislation Digest]
中国证券监督管理委员会证券发行上市保荐业务管理办法
IPO sponsors required to keep working drafts.

Ministry of Commerce, Circular on Issues Relevant to the Conversion of Unlisted Foreign Investment Shares of Foreign-invested Companies Limited by Shares into Tradable B-Shares [Legislation Digest]
商务部关于外商投资股份有限公司非上市外资股转B股流通有关问题的通知
Conversion of unlisted foreign investment shares into tradable B-shares streamlined.

China Securities Regulatory Commission, Working Guidelines for the Filing of Changes of Shareholders of Securities Companies with Less than 5% of Equity [Legislation Digest]
中国证券监督管理委员会证券公司变更持有5％以下股权股东报备工作指引
Limits on shareholding period of securities companies to prevent short-term speculation.

China Securities Regulatory Commission, Working Guidelines for the Review in Connection with Administrative Licensing of Securities Companies No.10: Review Requirements for Securities Companies’ Share Capital Increase and Change of Shareholders and De Facto Controllers with 5% or More of Equity [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变更持有5％以上股权的股东、实际控制人的审核要求
Qualifications required for purchase of 5% or more of equity in a securities company.

State Council, PRC Tentative Regulations on Value-added Tax (Revised) [Legislation Digest]
国务院中华人民共和国增值税暂行条例 (修订)
VAT system changed from production-based to consumption-based.

State Council, PRC Tentative Regulations on Consumption Tax (Revised) [Legislation Digest]
国务院中华人民共和国消费税暂行条例 (修订)
More high-end products subject to consumption tax.

State Council, PRC Tentative Regulations on Business Tax (Revised) [Legislation Digest]
国务院中华人民共和国营业税暂行条例 (修订)
Calculation of business turnover for business tax purposes revised.

Ministry of Commerce and General Administration of Customs, Announcement [2008] No.97 [Legislation Digest]
商务部、海关总署公告2008年第97号
Real deposit account system for the processing trade postponed.

Other Recent Legislation for this Month [Legislation Digest]

State Administration for Industry and Commerce and Ministry of Commerce, Provisions for the Administration of Foreign-invested Advertising Enterprises [Legislation Digest]
国家工商行政管理总局、商务部外商投资广告企业管理规定
Government relaxes foreign investment in advertising enterprises.

China Banking Regulatory Commission, Operational Guidelines for the Private Equity Investment Trust Business of Trust Companies [Legislation Digest]
中国银行业监督管理委员会信托公司私人股权投资信托业务操作指引
Clearer procedures for private equity investment through trust companies.

Ministry of Commerce, Circular on Delegating Matters Concerning the Changes to, and Examination and Approval of, Foreign-invested Companies Limited by Shares and Enterprises [Legislation Digest]
商务部关于下放外商投资股份公司、企业变更、审批事项的通知
MOFCOM delegates its FIE approval power to lower level departments.

Ministry of Commerce, Circular on Delegating Matters Concerning the Examination and Approval of Foreign-invested Commercial Enterprises [Legislation Digest]
商务部关于下放外商投资商业企业审批事项的通知
Approval procedures for commercial FIEs streamlined.

Central Committee of the Communist Party of China, Decision on Several Major Issues Concerning the Promotion of Rural Reform and Development [Legislation Digest]
中共中央关于推进农村改革发展若干重大问题的决定
Land reform allows farmers to lease their land.

People’s Bank of China, Extending the Downward Movement of Interest Rates for Loans for Residential Premises of a Commercial Nature for Individuals in Support of First-time Purchase of Ordinary Residential Premises by Residents [Legislation Digest]
中国人民银行扩大商业性个人住房贷款利率下浮幅度 支持居民首次购买普通住房
China revitalises its property market to increase domestic demand in view of the financial crisis.

China Insurance Regulatory Commission, Provisions for the Administration of the Solvency of Insurance Companies [Legislation Digest]
中国保险监督管理委员会保险公司偿付能力管理规定
CIRC monitors insurance company solvency through inspections.

China Insurance Regulatory Commission, Reply on the Issue of Delimiting the Scope of Affiliated Transactions of Foreign-invested Insurance Companies [Legislation Digest]
中国保险监督管理委员会关于外资保险公司关联交易范围界定问题的复函
Affiliated transactions of insurance FIEs defined.

China Securities Regulatory Commission, Trial Provisions for the Issuance of Exchangeable Bonds by Shareholders of Listed Companies [Legislation Digest]
中国证券监督管理委员会上市公司股东发行可交换公司债券试行规定
Exchangeable bonds issued to solve problems of unloading non-tradable shares.

China Securities Regulatory Commission, Supplementary Provisions on Share Buyback by Listed Companies through Centralised Competitive Trading [Legislation Digest]
中国证券监督管理委员会关于上市公司以集中竞价交易方式回购股份的补充规定
Share buyback by listed companies made easier.

China Securities Regulatory Commission, Guiding Opinion on Further Regulating the Securities Investment Fund Valuation Business [Legislation Digest]
中国证券监督管理委员会关于进一步规范证券投资基金估值业务的指导意见　
Clarity for valuation of securities investment fund products with no market price.

Ministry of Finance, Opinion on Issues Concerning the Levy of Place Use Fees on Foreign-invested Enterprises [Legislation Digest]
财政部关于外商投资企业场地使用费征收问题的意见
Opinion issued to clarify under which circumstances an FIE is required to pay a place use fee.

Ministry of Finance and State Administration of Taxation, Circular on Raising the Export Tax Rebate Rates on Certain Commodities [Legislation Digest]
财政部、国家税务总局关于提高部分商品出口退税率的通知
Export tax rebate rate lowered for textile products.

Ministry of Finance and State Administration of Taxation, Circular on Revising Tax Policies on the Real Property Trading Sector [Legislation Digest]
财政部、国家税务总局关于调整房地产交易环节税收政策的通知
Curbs on property transactions lifted.

Ministry of Finance and State Administration of Taxation, Circular on Issues Relevant to the Levy and Collection of Enterprise Income Tax on Non-tax-resident Enterprises [Legislation Digest]
财政部、国家税务总局关于非居民企业征收企业所得税有关问题的通知
Deductible expenses of non-tax-resident enterprises clarified.

Shenzhen City, Shenzhen Special Economic Zone Regulations on the Promotion of Harmonious Employment Relationships [Legislation Digest]
深圳市深圳经济特区和谐劳动关系促进条例
Enterprises owing workers wages may be ordered to stop operations.

Shanghai Stock Exchange, Guidelines for the Increase in Shareholding by Shareholders of Listed Companies and their Persons Acting in Concert [Legislation Digest]
上海证券交易所上市公司股东及其一致行动人增持股份行为指引
Shanghai Stock Exchange issues guidelines on disclosure of increase in shareholding.

Shanghai Stock Exchange, Circular on Amending Article 7 of the «Guidelines for the Increase of Shareholding by Shareholders of Listed Companies and their Persons Acting in Concert» [Legislation Digest]
上海证券交易关于修订《上市公司股东及其一致行动人增持股份行为指引》第七条的通知
Procedural obstacle cleared for increase of shareholding through Shanghai Stock Exchange.

Other Recent Legislation for this Month [Legislation Digest]

China Securities Regulatory Commission, Compilation Rules for Information Disclosure by Companies that Offer Securities to the Public (No.26): Special Provisions for the Information Disclosure of Commercial Banks [Legislation Digest]
中国证券监督管理委员会公开发行证券的公司信息披露编报规则第26号 - 商业银行信息披露特别规定
Commercial banks required to disclose information on sub-prime loans.

Ministry of Finance, China Securities Regulatory Commission, National Audit Office, China Banking Regulatory Commission and China Insurance Regulatory Commission, Basic Guidelines for Internal Controls of Enterprises [Legislation Digest]
财政部、中国证券监督管理委员会、审计署、中国银行业监督管理委员会、中国保险监督管理委员会企业内部控制基本规范
First law on internal controls of enterprises.

Supreme People’s Court, Provisions on Several Issues Concerning the Application of the System of the Prescription of Actions in Trials of Civil Cases [Legislation Digest]
最高人民法院关于审理民事案件适用诉讼时效制度若干问题的规定
Periods of prescription of actions clarified for civil cases.

State Council, Implementing Regulations for the PRC Employment Contract Law [Legislation Digest]
国务院中华人民共和国劳动合同法实施条例
State Council rules out iron-rice-bowl employment contracts.

PRC Law on the Promotion of the Circular Economy [Legislation Digest]
中华人民共和国循环经济促进法
Power grid enterprises required to purchase electric power generated using waste resources.

State Council, PRC Regulations for the Control of Foreign Exchange (2nd Revision) [Legislation Digest]
国务院中华人民共和国外汇管理条例 (第二次修订)
Forex regulations revised to curb inflow of hot money.

Ministry of Commerce and General Administration of Customs, 2008 Catalogue of Prohibited Commodities in the Processing Trade [Legislation Digest]
商务部、海关总署2008年加工贸易禁止类商品目录
China to restrict and improve the standard of processing trade.

China Insurance Regulatory Commission, Opinion on Regulating the Articles of Association of Insurance Companies [Legislation Digest]
中国保险监督管理委员会关于规范保险公司章程的意见　　
Insurance companies required to include provisions on solvency level in their articles of association.

China Insurance Regulatory Commission, Operational Guidelines for the Board of Directors of Insurance Companies [Legislation Digest]
中国保险监督管理委员会保险公司董事会运作指引
Guidelines issued to restrict boards of insurance companies in their delegation of powers.

China Securities Regulatory Commission, Decision on Amending Article 63 of the «Measures for the Administration of the Takeover of Listed Companies» [Legislation Digest]
中国证券监督管理委员会关于修改《上市公司收购管理办法》第六十三条的决定
Takeover measures amended to facilitate increase in shareholding by major shareholders.

People’s Bank of China and China Banking Regulatory Commission, Circular on Promoting Land Conservation and Improving the Efficiency of Land Use through Financial Means [Legislation Digest]
中国人民银行、中国银行业监督管理委员会关于金融促进节约集约用地的通知
Loans for real property tightened.

State Council, Provisions for the Administration of Foreign-invested Telecommunications Enterprises (Revised) [Legislation Digest]
国务院外商投资电信企业管理规定 (修订)
Basic telecommunications services further opened to foreign investors.

Ministry of Commerce and Ministry of Land and Resources, Measures for the Administration of Foreign-invested Mineral Exploration Enterprises [Legislation Digest]
商务部、国土资源部外商投资矿产勘查企业管理办法
Geographic restriction on exploration permits lifted.

Beijing Municipality, Opinion on Thoroughly Implementing the «Beijing Municipality, Regulations on Promoting Information Technology» and Strengthening the Regulation of Electronic Commerce [Legislation Digest]
北京市关于贯彻落实《北京市信息化促进条例》加强电子商务监督管理的意见
Beijing requires e-shops to apply for a business licence.

Guangdong Province, Operational Guidelines for the Transformation at the Original Location without Suspension of Production of Enterprises that Process Imported Materials [Legislation Digest]
广东省来料加工企业原地不停产转型的操作指引
Guangdong grants processing enterprises right to sell their products in China.

Guangdong Province, Highway Regulations (Revised) [Legislation Digest]
广东省公路条例（修订）
Guangdong revises regulations to suppress illegal collection of highway tolls.

Other Recent Legislation for this Month [Legislation Digest]

Ministry of Justice, Measures for the Administration of the Practice of Lawyers [Legislation Digest]
司法部律师执业管理办法
Clearer requirements for practice of lawyers.

Ministry of Justice, Measures for the Administration of Law Firms [Legislation Digest]
司法部律师事务所管理办法
Criteria for establishing different types of law firms elaborated.

National Development and Reform Commission, Circular on Further Strengthening and Regulating the Administration of Foreign-invested Projects [Legislation Digest]
国家发展改革委关于进一步加强和规范外商投资项目管理的通知
Cautious approval of FIE projects to stop irregular inflow of capital.

National Development and Reform Commission, Entry Requirements for the Dairy Product Processing Industry [Legislation Digest]
国家发展和改革委员会乳制品加工行业准入条件
First set of rules on the dairy product processing industry.

National Development and Reform Commission, Industrial Policy for the Dairy Products Industry [Legislation Digest]
国家发展和改革委员会乳制品工业产业政策
Entry requirements for the dairy products industry further raised.

China Securities Regulatory Commission, Measures for the Administration of Financial Consultancy Services for Mergers, Acquisitions and Reorganisations of Listed Companies [Legislation Digest]
中国证券监督管理委员会上市公司并购重组财务顾问业务管理办法
CSRC takes steps to improve the standard of financial consultants.

Department of Public Offering Supervision of the China Securities Regulatory Commission, Circular on Adjusting the Time of Advance Disclosure [Legislation Digest]
中国证券监督管理委员会发行监管部关于调整预先披露时间的通知
Earlier advance disclosure of IPOs.

Ministry of Commerce, Circular on Properly Handling the Record Filing for Foreign Investment in the Real Property Sector [Legislation Digest]
商务部关于做好外商投资房地产业备案工作的通知
Additional level of government screening for foreign investment in real property.

PRC Law on the Protection of Disabled Persons (Revised) [Legislation Digest]
中华人民共和国残疾人保障法 (修订）
NPC passes law to protect employment of disabled persons.

State Administration of Taxation, Official Reply on Issues Relevant to the Levy of Individual Income Tax on Conditional Agreements Between Individuals and Real Property Developers on Purchase of Shop Premises at a Preferential Price [Legislation Digest]
国家税务总局关于个人与房地产开发企业签订有条件优惠价格协议购买商店征收个人所得税问题的批复
Individuals to pay tax for favourable property deals.

State Council, Provisions on the Reporting Threshold for Concentrations of Business Operators [Legislation Digest]
国务院关于经营者集中申报标准的规定
MNCs must avoid creating a global monopoly.

Beijing Municipality, Circular on the Revision of the Minimum Wage Standard in Beijing for 2008 [Legislation Digest]
北京市关于调整北京市2008年最低工资标准的通知
Minimum wage in Beijing raised.

Guangdong Province, Guiding Opinion on Several Issues Concerning the Application of the «Law on the Mediation and Arbitration of Employment Disputes» and the «Employment Contract Law» [Legislation Digest]
广东省高级人民法院 广东省劳动争议仲裁委员会关于适用《劳动争议调解仲裁法》、《劳动合同法》若干问题的指导意见
Guangdong clarifies issues arising from the Employment Contract Law.

Shanghai Municipality, Provisions on Encouraging the Establishment of Regional Headquarters by Multinational Corporations [Legislation Digest]
上海市鼓励跨国公司设立地区总部的规定
More favourable policies to attract regional headquarters in Shanghai.

Other Recent Legislation for this Month [Legislation Digest]

Ministry of Finance and China Securities Regulatory Commission, Circular on Administrative Issues Relevant to Asset Appraisal Firms that Engage in Securities and Futures-related Business [Legislation Digest]
财政部、中国证券监督管理委员会关于从事证券期货相关业务的资产评估机构有关管理问题的通知
Standards of asset appraisal firms controlled to protect the securities market.

Supreme People’s Court, Provisions on Several Issues Concerning the Application of the «PRC Company Law» (2) [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 (二)
Shareholder right to dissolve the company clarified.

Supreme People’s Procuratorate and Ministry of Public Security, Supplementary Provisions on the Standards for Pursuing Cases of Economic Crime [Legislation Digest]
最高人民检察院、公安部关于经济犯罪案件追诉标准的补充规定
Clearer standards to deal with securities-related crimes.

Ministry of Environmental Protection, Opinion on Strengthening the Prevention and Treatment of Soil Pollution [Legislation Digest]
环境保护部关于加强土壤污染防治工作的意见
China to combat soil pollution.

China Securities Regulatory Commission, Opinion on the Application of Securities and Futures Laws No.3: Opinion on the Application of the Provision “No Major Change Shall Have Occurred in the Issuer’s Core Business During the Most Recent Three Years” of Article 12 of the «Measures for the Administration of Initial Public Offerings of Shares and the Listing Thereof» [Legislation Digest]
中国证券监督管理委员会《首次公开发行股票并上市管理办法》第十二条发行人最近3年内主营业务没有发生重大变化的适用意见 - 证券期货法律适用意见第3号
IPOs not allowed within a year of thorough reorganization.

China Securities Regulatory Commission, Provisions on Issues Relevant to Regulatory Opinions for Initial Public Offerings of Shares and the Listing Thereof by Securities Companies [Legislation Digest]
中国证券监督管理委员会关于证券公司申请首次公开发行股票并上市监管意见书有关问题的规定
Ice-breaking provisions for IPOs of securities companies.

China Securities Regulatory Commission, Provisions for the Regulation of Branches of Securities Companies (Trial Implementation) [Legislation Digest]
中国证券监督管理委员会证券公司分公司监管规定 (试行)
Restrictions set on securities companies’ business scope.

China Securities Regulatory Commission, Provisions on Issues Relevant to the Regulation of Controlling Interests and Equity Interests in Futures Companies [Legislation Digest]
中国证券监督管理委员会关于规范控股、参股期货公司有关问题的规定
CSRC harnesses equity interests in futures companies.

General Office of the China Banking Regulatory Commission, Circular on Issues Relevant to the Engagement in Foreign Exchange Margin Trading by Banking Financial Institutions [Legislation Digest]
中国银行业监督管理委员会办公厅关于银行业金融机构开办外汇保证金交易有关问题的通知
The CBRC puts a halt to banks’ forex margin trading.

State Council, Regulations for the Oversight of Securities Companies [Legislation Digest]
国务院证券公司监督管理条例
State Council regulations pave the way for margin trading and short sale of securities.

State Council, Regulations for Handling Risks of Securities Companies [Legislation Digest]
国务院证券公司风险处置条例
Five measures may be taken to handle securities companies at risk.

People's Bank of China, Measures for the Administration of Debt Financing Instruments of Non-financial Enterprises in the Interbank Bond Market [Legislation Digest]
中国人民银行银行间债券市场非金融企业债务融资工具管理办法
Issue of bonds by non-financial enterprises made easier.

Ministry of Finance and the State Administration of Taxation, Circular on Issues Relevant to the Revision of the Rates of Pre-tax Deductions from Individual Income Tax of Family Proprietorships, Wholly Individually-owned Enterprises and Partnerships [Legislation Digest]
财政部、国家税务总局关于调整个体工商户个人独资企业和合伙企业个人所得税税前扣除标准有关问题的通知
The rate for pe-tax deduction of expenses for individual investors of partnerships raised.

State Administration of Taxation, Circular on the Deed Duty Policy on the Acceptance of the Assets of the Parent Company by its Wholly-owned Subsidiary [Legislation Digest]
国家税务总局关于全资子公司承受母公司资产有关契税政策的通知
Deed duty exempted for internal asset transfer

State Administration of Taxation, Circular on Issues Relevant to Terminating the Implementation of the Policy of Crediting Purchases of Domestically-produced Equipment as Investments by Enterprises Against Enterprise Income Tax [Legislation Digest]
国家税务总局关于停止执行企业购买国产设备投资抵免企业所得税政策问题的通知
Preferential tax policy for purchase of Chinese equipment cancelled.

State Administration of Taxation, Circular on Adding Organizations Entitled to Tax Exemption on Interest to the China-Canada Tax Treaty [Legislation Digest]
国家税务总局关于中国-加拿大税收协定中增列利息免税机构的通知
More organizations allowed to enjoy tax exemption in China and Canada.

Other Recent Legislation for this Month [Legislation Digest]

Ministry of Finance, Measures for the Participation in the PRC Uniform Certified Public Accountant Examination of Residents of Hong Kong, Macao and Taiwan Regions and Foreign Nationals [Legislation Digest]
财政部港澳台地区居民及外国籍公民参加中华人民共和国注册会计师统一考试办法
Criteria for participation in the PRC Uniform Certified Public Accountant Examination further detailed.

General Administration of Customs, Catalogue of Measures for Categorized Administration of Enterprises [Legislation Digest]
海关总署企业分类管理措施目录
Credible import/export enterprises exempted from customs inspection.

General Office of the Ministry of Commerce, Guiding Opinion on Attracting Foreign Investment Nationwide in 2008 [Legislation Digest]
商务部办公厅关于2008年全国吸收外商投资工作的指导性意见
Qualified FIEs encouraged to list in China.

China Securities Regulatory Commission, Measures for the Administration of Material Asset Reorganizations by Listed Companies [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
Threshold for recognition as material asset reorganizations raised.

China Securities Regulatory Commission, Provisions on Several Issues Concerning the Regulation of Material Asset Reorganizations by Listed Companies [Legislation Digest]
中国证券监督管理委员会关于规范上市公司重大资产重组若干问题的规定
Criteria for board resolution on material asset reorganization further detailed.

China Securities Regulatory Commission, Guidelines on Contents and Formats for Information Disclosure by Companies that Offer Securities to the Public (No.26): Application Documents for Material Asset Reorganization of Listed Companies [Legislation Digest]
中国证券监督管理委员会公开发行证券的公司信息披露内容与格式准则第26号 - 上市公司重大资产重组申请文件
33 types of documents required for information disclosure for material asset reorganizations.

General Office of the China Banking Regulatory Commission, Circular on Issues Relevant to the Engagement in Domestic Gold Futures Trading by Commercial Banks [Legislation Digest]
中国银监会办公厅关于商业银行从事境内黄金期货交易有关问题的通知
Commercial banks allowed to engage in gold futures trading.

China Securities Regulatory Commission, Provisions for the Establishment of Organizations in Hong Kong by Securities Investment Fund Management Companies [Legislation Digest]
中国证券监督管理委员会关于证券投资基金管理公司在香港设立机构的规定
Securities investment fund management companies allowed to establish organizations in Hong Kong.

Ministry of Science and Technology, Ministry of Finance and State Administration of Taxation, Measures for the Administration of the Recognition of Hi-tech Enterprises [Legislation Digest]
科技部、财政部、国家税务总局高新技术企业认定管理办法
Stricter recognition standards for hi-tech enterprises.

State Administration of Taxation, Circular on Issues Relevant to the Tax Year for Income Tax of Foreign Enterprises [Legislation Digest]
国家税务总局关于外国企业所得税纳税年度有关问题的通知
Foreign enterprises pay income tax according to the Gregorian calendar year.

State Administration of Taxation, Circular on Business Tax Issues Concerning the Return of Leaseholds by Land Users to Land Owners [Legislation Digest]
国家税务总局关于土地使用者将土地使用权归还给土地所有者行为营业税问题的通知
Return of leaseholds exempted from business tax.

State Council, Circular on the Implementation of Transitional Preferential Tax Treatment for Hi-tech Enterprises Newly Established in Special Economic Zones and the Shanghai Pudong New Area [Legislation Digest]
国务院关于经济特区和上海浦东新区新设立高新技术企业实行过渡性税收优惠的通知
Transitional preferential tax treatment for hi-tech enterprises issued in view of the Enterprise Income Tax Law.

Other Recent Legislation for this Month [Legislation Digest]

General Office of the China Banking Regulatory Commission, Circular on Issues Relevant to Further Regulating the Personal Financial Management Business of Commercial Banks [Legislation Digest]
中国银行业监督管理委员会办公厅关于进一步规范商业银行个人理财业务有关问题的通知
CBRC puts a halt to commercial banks’ selling of products linked to overseas funds.

People’s Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission, Several Opinions on Accelerating the Development of the Service Industry with Support from the Financial Sector [Legislation Digest]
中国人民银行、中国银行业监督管理委员会、中国证券监督管理委员会、中国保险监督管理委员会关于金融支持服务业加快发展的若干意见
Enterprise groups in the service industry given priority to establish finance companies.

General Administration of Customs, PRC Customs Measures for the Supervision of Processing Trade Goods (Revised) [Legislation Digest]
海关总署中华人民共和国海关对加工贸易货物监管办法 (修正)
Non-principal processes allowed to be outsourced for the processing trade sector.

General Administration of Customs, PRC Customs Measures for the Administration of Centralized Customs Declaration of Imports and Exports [Legislation Digest]
中华人民共和国海关进出口货物集中申报管理办法
Simplified customs procedures for time sensitive, dangerous and low-risk goods.

PRC Law on the Mediation and Arbitration of Employment Disputes [Legislation Digest]
中华人民共和国劳动争议调解仲裁法
Arbitration procedures for employment disputes made easier for employees.

The 1st Session of the 11th National People’s Congress, Plan on Reform of State Council Organs [Legislation Digest]
第十一届全国人民代表大会第一次会议国务院机构改革方案
A new commission and five new ministries are established under the State Council.

China Securities Regulatory Commission, Guiding Opinion on the Transfer of Existing Shares of Listed Companies that are Freed from Sale Restrictions [Legislation Digest]
中国证券监督管理委员会上市公司解除限售存量股份转让指导意见
Locked-up shares from the share reform released.

China Securities Regulatory Commission Notice [2008] No.10 - Provisions for the Administration of Chief Risk Officers of Futures Companies (Trial Implementation) [Legislation Digest]
中国证券监督管理委员会公告[2008]10号 - 期货公司首席风险官管理规定(试行)
CSRC requires a chief risk officer in futures companies.

Ministry of Land and Resources, Land Registration Measures [Legislation Digest]
国土资源部土地登记办法
Land registration measures to protect land rights holders.

Ministry of Construction, Housing Registration Measures [Legislation Digest]
建设部房屋登记办法
Housing registration to protect purchasers of pre-sold housing premises.

State Administration of Taxation, Circular on the Handling of Relevant Matters Following the Abolition of Several Preferential Tax Policies Previously Available to Foreign-invested Enterprises and Foreign Enterprises [Legislation Digest]
国家税务总局关于外商投资企业和外国企业原有若干税收优惠政策取消后有关事项处理的通知
Tax refund policy for reinvestments by foreign investors clarified.

State Administration of Taxation, Circular on Issues Relevant to the Prepayment of Enterprise Income Tax of Real Property Developers [Legislation Digest]
国家税务总局关于房地产开发企业所得税预缴问题的通知
Rate of tax prepayment raised to 20% for pre-sold premises.

State Administration of Foreign Exchange and State Administration of Taxation, Circular on Issues Relevant to the Trial Implementation of Tax Filing for Outbound Payments of Trade in Services [Legislation Digest]
国家外汇管理局、国家税务总局关于试行服务贸易对外支付税务备案有关问题的通知
Advance tax filing for the service industry implemented in six places for trial.

State Administration of Taxation, Circular on Issues Relevant to the Administration of Tax Collection Concerning Outbound Payments of Trade in Services [Legislation Digest]
国家税务总局关于服务贸易对外支付税收征管有关问题的通知
Procedures for advance tax filing for the service industry clarified.

State Administration of Taxation, Supplementary Circular on Issues Relevant to the Administration of Tax Collection Concerning Outbound Payments of Trade in Services [Legislation Digest]
国家税务总局关于服务贸易对外支付税收征管有关问题的补充通知
International maritime transport not included in trial advance tax filing.

Guangzhou City, Circular on the Revision of the Minimum Wage Standard for Enterprise Staff and Workers in the City [Legislation Digest]
广州市关于调整我市企业职工最低工资标准的通知
Guangzhou raises the minimum wage standard.

Shanghai Municipality, Circular on the Revision of the Minimum Hourly Wage Standard of the City [Legislation Digest]
上海市关于调整本市小时最低工资标准的通知
Minimum hourly wage raised to Rmb8 for part-time employees in Shanghai.

Other Recent Legislation for this Month [Legislation Digest]

China Banking Regulatory Commission, Guidelines for the Consolidated Supervision of Banks (Trial Implementation) [Legislation Digest]
中国银行业监督管理委员会银行并表监管指引 (试行)
CBRC requires tighter consolidated supervision of banking groups to prevent risks.

China Banking Regulatory Commission, Measures for the Administration of Auto Finance Companies [Legislation Digest]
中国银行业监督管理委员会汽车金融公司管理办法
The business scope of auto finance companies expanded.

People’s Bank of China, Circular on Matters Relevant to the Engagement in Renminbi Interest Rate Swap Business [Legislation Digest]
中国人民银行关于开展人民币利率互换业务有关事宜的通知
Interest rate swaps allowed for all market participants in the national interbank bond market.

General Administration of Customs, PRC Customs Measures for the Administration of Enterprise Classification [Legislation Digest]
海关总署中华人民共和国海关企业分类管理办法
Customs revises enterprise classification to allow more facilitation for cargo release.

General Office of the State Council, Implementing Opinion on Several Policy Measures for Accelerating the Development of the Service Industry [Legislation Digest]
国务院办公厅关于加快发展服务业若干政策措施的实施意见
The minimum registered capital of the service industry lowered.

State Environmental Protection Administration, Guiding Opinion on Strengthening the Regulatory Work on Listed Companies in Respect of Environmental Protection [Legislation Digest]
国家环境保护总局关于加强上市公司环保监督管理工作的指导意见
SEPA requires listed companies to disclose information on serious environmental violations.

State Environmental Protection Administration and China Insurance Regulatory Commission, Guiding Opinion on the Work of Environmental Pollution Liability Insurance [Legislation Digest]
国家环境保护总局、中国保险监督管理委员会关于环境污染责任保险工作的指导意见
China works to set up a green insurance system.

Supreme People’s Court, Provisions on Several Issues Concerning the Trial of Civil Disputes Involving Conflicts Between Prior Rights and Registered Trademarks or Enterprise Names [Legislation Digest]
最高人民法院关于审理注册商标、企业名称与在先权利冲突的民事纠纷案件若干问题的规定
SPC promulgates provisions to curb imitation of brand names.

General Office of the Ministry of Communications, Circular on Reforming the Bid Invitation Administration System for Construction Works of Highway Construction Projects that Use Loans from International Financial Organizations or Foreign Governments [Legislation Digest]
交通部办公厅关于改革使用国际金融组织或者外国政府贷款公路建设项目施工招标管理制度的通知
Approval relaxed for highway construction projects using loans from international financial organizations or foreign governments.

Tariff/Tax Regulation Committee of the State Council, Circular on Exemption of Export Customs Duty for Certain Products that Enter Special Customs Supervised Zones [Legislation Digest]
国务院关税税则委员会关于对部分进入海关特殊监管区域的产品不征收出口关税的通知
Manufacturers in special processing zones entitled to export customs duty exemption for purchase of Chinese raw materials.

Guangzhou City, Measures for the Administration of the Sale of Commodity Residential Premises with Price Restriction (Trial Implementation) [Legislation Digest]
广州市限价商品住宅销售管理办法(试行)
Guangzhou releases new types of residential premises for the middle-income group.

Guangzhou City, Measures for the Record Filing of Employment of Workers and Registration of Employment and Unemployment [Legislation Digest]
广州市劳动用工备案和就业失业登记办法
Employers in Guangzhou required to file records of new employment within 30 days with the relevant authority.

Other Recent Legislation for this Month [Legislation Digest]

PRC Civil Procedure Law (Revised) [Legislation Digest]
中华人民共和国民事诉讼法 (修正)
Criteria for retrial of civil cases revised.

Ministry of Labour and Social Security, Circular on Issues Concerning the Annual Average Monthly Working Hours of Staff and Workers and the Pro Rata Calculation of Their Wages [Legislation Digest]
劳动和社会保障部关于职工全年月平均工作时间和工资折算问题的通知
Calculation of working hours and hourly wage specified.

People’s Bank of China and China Banking Regulatory Commission, Measures for the Administration of Loans for Development of Economically Affordable Residential Premises [Legislation Digest]
中国人民银行、中国银行业监督管理委员会经济适用住房开发贷款管理办法
More banks are allowed to provide loans for the development of economically affordable residential premises.

China Insurance Regulatory Commission, Notice on the Matters Relevant to the Application for Establishing Wholly-owned Insurance Agencies in the Mainland by Hong Kong and Macao Insurance Agencies [Legislation Digest]
中国保险监督管理委员会关于香港、澳门保险代理公司申请在内地设立独资保险代理公司有关事项的公告
Hong Kong and Macao insurance agencies allowed to set up wholly-owned insurance agencies on the mainland.

China Insurance Regulatory Commission, Notice on the Adjustment of the Liability Limits of Mandatory Traffic Accident Insurance [Legislation Digest]
中国保险监督管理委员会关于调整交强险责任限额的公告
Premiums raised for mandatory traffic accident insurance.

China Securities Regulatory Commission, Guidelines on the Contents and Format of Annual Reports of Securities Companies (2008 Revision) [Legislation Digest]
中国证券监督管理委员会证券公司年度报告内容与格式准则（2008年修订）
More requirements for securities companies on information disclosure.

State Council General Office, Circular on the Stringent Implementation of the Laws and Policies Relevant to the Use of Rural Collective Construction Land [Legislation Digest]
国务院办公厅关于严格执行有关农村集体建设用地法律和政策的通知
Circular to prohibit purchase of homestead land by urban residents.

National Development and Reform Commission, Rules for the Administration of Permission to Produce Alternative Energy Vehicles [Legislation Digest]
国家发展和改革委员会新能源汽车生产准入管理规则
China sets entry requirements for manufacture of alternative energy vehicles.

PRC Road Traffic Safety Law (Revised) [Legislation Digest]
中华人民共和国道路交通安全法 (修正)
Liability for compensation of motor vehicle drivers in traffic accidents revised.

Ministry of Finance, Measures for the Administration of the Priority Purchase and Order of Self-initiated Innovative Products by the Government [Legislation Digest]
财政部自主创新产品政府首购和订购管理办法
Product innovation encouraged by means of government procurement.

PRC Individual Income Tax Law (5th Revision) [Legislation Digest]
中华人民共和国个人所得税法 (第五次修正)
The limit for deduction of expenses raised for wage income of individuals.

State Administration of Taxation, Circular on Issues Relevant to Prepayment of Enterprise Income Tax [Legislation Digest]
国家税务总局关于企业所得税预缴问题的通知
Certain enterprises prepaying tax on a monthly basis now may prepay tax on a quarterly basis.

Ministry of Finance, Measures for the Administration of Government Procurement of Imports [Legislation Digest]
财政部政府采购进口产品管理办法
Government purchase of imports gives priority to technology transfer.

Other Recent Legislation for This Month [Legislation Digest]

China Securities Regulatory Commission, Rules for the Establishment of Securities Companies with Foreign Equity Participation (Revised) [Legislation Digest]
中国证券监督管理委员会外资参股证券公司设立规则 (修订)
Foreign investors allowed wider access to securities joint ventures.

China Securities Regulatory Commission, Trial Provisions for the Establishment of Subsidiaries by Securities Companies [Legislation Digest]
中国证券监督管理委员会证券公司设立子公司试行规定
Parent securities companies not allowed to compete with their subsidiaries.

China Securities Regulatory Commission, Guidelines for Contents and Formats for Information Disclosures by Companies that Offer Securities to the Public (No.2): Contents and Format of Annual Reports (2007 Revision) [Legislation Digest]
中国证券监督管理委员会公开发行证券的公司信息披露内容与格式准则第2号—年度报告的内容与格式 (2007年修订)
Cross-shareholdings required to be disclosed in annual reports.

Guangdong Province, Outline of the Strategies on Intellectual Property Rights (Year 2007-2020) [Legislation Digest]
广东省知识产权战略纲要 (2007 - 2020年)
Guangdong offers preferential tax treatment for purchase of advanced technologies and patents.

China Securities Regulatory Commission, Circular on Properly Handling the 2007 Annual Reports of Listed Companies and the Related Work [Legislation Digest]
中国证券监督管理委员会关于做好上市公司2007年年度报告及相关工作的通知
Senior management of listed companies restricted from buying or selling shares of the company before release of the annual report.

Guangzhou City, Urgent Circular on Strengthening the Administration of Mass Layoffs by Employers [Legislation Digest]
广州市关于加强对用人单位规模性裁员管理的紧急通知
Guangzhou issued urgent circular to prevent companies from getting around the PRC Employment Contract Law.

State Council, Regulations on Paid Annual Leave of Staff and Workers [Legislation Digest]
国务院职工带薪年休假条例
Paid annual leave detailed in regulations.

Shanghai Municipality, Trial Measures on Basic Medical Insurance for Urban Residents [Legislation Digest]
上海市城镇居民基本医疗保险试行办法
Shanghai introduces basic medical insurance for urban residents.

Ministry of Health and Ministry of Commerce, Supplementary Provisions for the «Tentative Measures for the Administration of Sino-foreign Equity and Cooperative Joint Medical Institutions» [Legislation Digest]
卫生部、商务部《中外合资、合作医疗机构管理暂行办法》的补充规定
Threshold for Hong Kong and Macao investment in mainland medical institutions lowered.

State Council, Implementing Regulations for the PRC Enterprise Income Tax Law [Legislation Digest]
国务院中华人民共和国企业所得税法实施条例
Enterprise tax deductions further clarified in implementing regulations.

State Council, Circular on the Implementation of Transitional Preferential Enterprise Income Tax Policies [Legislation Digest]
国务院关于实施企业所得税过渡优惠政策的通知
State Council issues transitional preferential tax policies in view of the implementation of the PRC Enterprise Income Tax Law.

National Development and Reform Commission, Coal Industrial Policy [Legislation Digest]
国家发展和改革委员会煤炭产业政策
Entry requirements for the coal industry raised.

Ministry of Water Resources, Tentative Measures on Water Distribution [Legislation Digest]
水利部水量分配暂行办法
China's first law on water distribution.

Other Recent Legislation for this Month [Legislation Digest]