The People's Court may order an arbitration de novo by the arbitration tribunal when 1) the arbitration award was based on fabricated evidence, or 2) evidence was concealed that would have affected the impartiality of the award.
The Provisions underline the PRC's concern over inbound M&A activities. It adds extra regulations to the administration system, determination of qualified FIEs, certain M&A activities, and foreign exchange registration.
The PRC Enterprise Bankruptcy Law modernizes the PRC corporate bankruptcy regime, applicable to both state-owned and domestic and foreign private companies.
The new rules revises six aspects including increasing the deductible amount for income from contracting for or leasing the operation of enterprises or institutions and clarifying tax returns procedures while further stipulating the duties of withholding agents in relation to tax withheld on the full amount for all personnel.
The Supplementary Provisions relaxes pre-requisite for foreign investment in the PRC, eligibility of investment companies being recognized as regional headquarters and foreign exchange control procedures.
The New Opinions on Foreign Investment in China Real Estate represents the PRC government's concern and determination to cool down an overheated real estate market.
This Circular provides implementing procedures to the earlier issued Tentative Measures for the Administration of Overseas Financial Management Services Offered by Commercial Banks on Behalf of Customers.
The Circular permits currency conversions between different foreign currencies at designated banks. It removes the foreign exchange limit and allows the collection of premiums either in renminbi or foreign exchange.
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'.