The Provisions define applicable laws where international practices represented by the usual UCP 500 do not cover the disputed LC issue, the legal relationship between the parties to an LC, and the concept of 'LC fraud'.
September 02, 2006
Banking and Finance Laws
The China Banking Regulatory Commission (CBRC) has circulated a draft notice detailing the requirements for foreign banks to conduct retail business in…
September 01, 2006The China Securities Regulatory Commission (CSRC) has issued new regulations that will require China's securities companies to keep their capital provisions,…
September 01, 2006Issued: June 6 2006Effective: July 1 2006Main contents: The Circular relaxes the foreign exchange control policies relating to overseas investment. clp…
July 02, 2006National LegislationACCOUNTINGEnterprise Accounting Guidelines No.11 Share-based Payment企业会计准则第11号 - 股份支付L3100/06.02.15(11)Enterprise…
July 02, 2006Issued: April 13 2006Effective: May 1 2006Main contents: The Circular consists of three parts:1. Abolition of Advance Examination and Approval of the Opening…
July 02, 2006Issued: April 17 2006Effective: as of date of issueInterpreting authorities: People's Bank of China and China Banking Regulatory CommissionMain contents:…
July 02, 2006Service-related foreign exchange payment procedures are simplified. Domestic entities and domestic individuals benefit from procedure simplification for contracts below US$5,000 and an increased foreign exchange purchase limits to US$20,000.
July 02, 2006The Circular drops the previous acquisition deposit requirement but adds a repatriation requirement where approval procedures are not completed within six months.
July 02, 2006China is one step closer to the qualified domestic institutional investor (QDII) programme, allowing banks, fund management firms, insurers and securities institutions to convert Chinese clients' renminbi into foreign currency and invest it overseas.
July 02, 2006