The provision of security to foreign parties for financing purposes by banks in China shall be subject to balance control, and the provision of security to foreign parties by non-bank financial institutions and enterprises shall mainly be subject to approval on a case by case basis.
Procedural clarification made for preferential tax treatment for non-tax-residents.
The Circular specifies the procedures for foreign exchange registration, its amendment and cancellation, and conversion in connection with overseas direct investments of banks in China.
Mofcom lays down specific rules for the divestiture remedy for anti-monopoly restrictions.
The Measures classify establishments of insurance companies into four grades based on the companies' risk positions and impose regulatory measures accordingly.
The CIRC may release a major shareholder from the restriction on shareholding percentage if it satisfies certain provisions.
The Measures specify the information that an insurance company is required to disclose as well as the method and time of disclosure.
Mofcom delegates approval power over foreign-invested holding companies and venture capital companies to lower-level authorities.
The Provisions set forth the application procedure for a food additive production permit, require the keeping of production management records and specify the particulars to be listed on the label and instructions for use.
The Measures state that assessment of taxable income of non-tax-resident enterprises shall be based on total revenue, costs and expenses, or revenue converted from operational expenditures.