Banking and Finance Laws

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'.

The China Banking Regulatory Commission (CBRC) has circulated a draft notice detailing the requirements for foreign banks to conduct retail business in…

The China Securities Regulatory Commission (CSRC) has issued new regulations that will require China's securities companies to keep their capital provisions,…

Issued: June 6 2006Effective: July 1 2006Main contents: The Circular relaxes the foreign exchange control policies relating to overseas investment. clp…

National 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…

Issued: April 13 2006Effective: May 1 2006Main contents: The Circular consists of three parts:1. Abolition of Advance Examination and Approval of the Opening…

Issued: April 17 2006Effective: as of date of issueInterpreting authorities: People's Bank of China and China Banking Regulatory CommissionMain contents:…

Service-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.

The Circular drops the previous acquisition deposit requirement but adds a repatriation requirement where approval procedures are not completed within six months.