Full Text Translation

The Circular states that conduit companies are not beneficial owners. It also sets forth factors that are not conducive to the recognition of an applicant's status as a beneficial owner.

These Measures shall apply to non-tax-residents with tax obligations in China that wish to avail themselves of the treatment under the agreements for the avoidance of double taxation executed by China with foreign governments and regions.

The Provisions raise the maximum investment limit of a QFII to US$1 billion but also prohibit a QFII from transferring such limit.

The Circular sets forth the investment percentages allowed in an infrastructure bond investment plan by a life insurance company and property insurance company.

The revised Provisions raise the minimum registered capital for insurance companies to Rmb200 million.

The Measures detail the procedures for record filing of intellectual property rights with customs, customs detention of alleged infringing goods and customs handling of infringing goods.

The Interpretation elaborates the definition of terms mentioned in the PRC Property Law such as owner, exclusively-owned parts, parts owned in common and materially interested owners.

The Measures set forth the procedure for establishing a consumer finance company. The minimum registered capital required is Rmb300 million.

The Circular clarifies the determination of the taxable income derived from stock appreciation rights and restricted stock.