Circular on Launching Pilot Variable Annuity Projects
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.
Rules for the Practice of Securities Law by Law Firms (Trial Implementation)
律师事务所证券法律业务执业规则 (试行)
These Rules govern practice activities such as review and verification, preparation and issuance of legal opinions, etc. when law firms and their assigned lawyers provide securities-related legal services.
Rules for the Practice of Securities Investment Fund Law by Law Firms (Trial Implementation)
律师事务所证券投资基金法律业务执业细则 (试行)
The Rules specify the details a lawyer is required to review and verify in cases such as when a securities investment fund management company is to be established, when a change in the shareholders of a securities investment fund management company occurs and when a securities investment fund is to be offered.
Tentative Measures for the Administration of Variable Annuities
变额年金保险管理暂行办法
The Measures detail the two management models of variable annuities and set forth requirements in respect of allocations to the liability reserve and information disclosure.
Rooting out corruption
The new UK Bribery Act signals the start of a new era of enforcement for Chinese organisations on the world stage. If they haven’t done so already, PRC companies must review their existing anti-corruption policies and procedures, and assess their business risks to ensure they put in place appropriate measures to deter and deal with any corrupt acts
Permission denied: The curious case of exit restrictions in Chinese commercial litigation
PRC litigation can be risky for the unwary investor and one challenge is presented by China’s exit restriction regime. Foreigners associated with a company involved in a dispute can be prevented from leaving China if certain conditions are met
Searching for a seller
In patent infringement cases with multiple infringers, courts have been applying inconsistent standards in establishing jurisdiction. The Supreme People’s Court may need to step in to provide clear guidance to plaintiffs and defendants alike
An open book market
New regulations finally allow FIEs to engage in the master distribution of Chinese publications and expand the scope of foreign investor participation by lowering entry thresholds and eliminating term of operation restrictions
Safe registration of China round-trip investments
New rules simplify foreign currency registration of round-trip investments and fundraising, while increasing the pressure and urgency on investors to rectify previous non-registration. Safe increases its focus and coordination while Mofcom uncertainties remain
Hiring foreigners
Two employment specialists offer their insights on issues worth consideration when hiring expatriate staff.
Rmb repatriation may trigger new control measures
Central bank drafting rules to allow Rmb-denominated FDI into China
Companies should conduct self-assessment for concentration risk
Prove your business will have a positive impact on the market
Fund sales foreign entrants will positively impact competition
New rules open up fund sales market
Employing foreigners about to get more expensive
Draft provisions on foreigner social insurance enrolment released
Ministry of Finance, Guiding Opinion on Directing Enterprises to Select Accounting Firms Using Objective Standards
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
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)
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)
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)
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
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
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
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
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
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
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
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