Legislation roundup: Consumer finance companies, VAT issues and Guangzhou real estate
November 28, 2013 | BY
clpstaff &clp articlesThe CBRC has issued Measures over pilot consumer finance companies and the SAT has produced an Announcement on VAT issues for restructuring the assets of taxpayers. Guangzhou has released Opinions further regulating real estate
Financing
China Banking Regulatory Commission, Measures for the Administration of Pilot Consumer Finance Companies
The revised Measures allow non-financial enterprises with business revenue of at least Rmb30 billion in the previous year to be the principal investor of a consumer finance company. The minimum shareholding percentage requirement of the principal investor has also been lowered from 50% to 30%. The geographical restriction has been lifted, allowing consumer finance companies to operate outside their place of registration.
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