Banking and Finance Laws

• New Laws Boost Banking Industry Supervision and Management

  China has revised two of the country's key commercial banking laws, and has issued a concrete formulation of the role and responsibilities of the China Banking Regulatory Commission and this has been welcomed by industry watchers.

  January 31, 2004

• Supreme People's Court, The Question of Whether Real Property Administrative Authorities Can Revoke Wrong Cancellations of Mortgage Registration Official Reply

  最高人民法院关于房地产管理机关能否撤销错误的注销抵押登记行为问题的批复

  Issued: November 17 2003Main contents: The Official Reply states that real property administrative authorities can revoke wrong cancellations of mortgage…

  November 30, 2003

• Other Recent Legislation for this Month

  National LegislationConstitution and Legal SystemMinistry of Justice Announcement (No.21) (Two Foreign Law Firms Establishing Additional Representative…

  November 30, 2003

• China Banking Regulatory Commission, Further Opening of Renminbi Services to Foreign-invested Financial Institutions Notice

  中国银行业监督管理委员会关于向外资金融机构进一步开放人民币业务的公告

  Issued: October 24 2003Main contents: The Notice states that from December 1 2003 foreign-invested financial institutions may apply to engage in renminbi…

  November 30, 2003

• China Banking Regulatory Commission, Administration of Investment and Equity Participation in Chinese-invested Financial Institutions by Offshore Financial Institutions Procedures

  中国银行业监督管理委员会境外金融机构投资入股中资金融机构管理办法

  Promulgated: December 8 2003Effective: December 31 2003Interpreting authority: China Banking Regulatory Commission (CBRC)Applicability: "Offshore financial…

  November 30, 2003

• People's Bank of China Notice [2003] No.16 (Engagement in renminbi services by Hong Kong banks)

  中国人民银行公告 [2003]第16号(关于香港银行经营人民币业务)

  Issued: November 18 2003Main contents: The Notice states that the People's Bank of China will provide clearing arrangements for Hong Kong banks providing…

  November 30, 2003

• China Banking Regulatory Commission, Administration of Auto Finance Companies Procedures Implementing Rules

  中国银行业监督管理委员会汽车金融公司管理办法实施细则

  Promulgated: November 12 2003Effective: as of date of promulgationInterpreting authority: China Banking Regulatory CommissionMain contents: The Implementing…

  November 30, 2003

• China Securities Regulatory Commission, Compilation Rules for Information Disclosure by Companies That Offer Securities to the Public (No. 13): Correction and Relevant Disclosure of Financial Information

  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19号–财务信息的更正及相关披露

  Issued: December 1 2003Interpreting authority: China Securities Regulatory CommissionApplicability: The Rules apply to circumstances in which a company's…

  November 30, 2003

• Export Tax Rebates: China's Approach to Reforming the System

  Export-oriented businesses have played a leading role in the growth of China's economy in the reform period. At the same time, however, the tax rebates that have been given to exporters as incentives to expand their businesses have created a heavy fiscal burden for the government. What is the solution?

  November 30, 2003

• PRC Outward Investment: Liberalization Momentum Builds

  In recent years, the government has been making the legal environment governing investment outside China by companies established in China, including foreign-invested companies, more progressive. A new SAFE circular furthers the liberalization programme.

  November 30, 2003