After a one-year suspension of new share sales, the Measures reopen the PRC's stock market with tightened listing requirements. Meanwhile, the Measures removed restrictions on the amount of IPO proceeds and the one-year lock-up prior to the IPO.
In an attempt to clarify and modernize the PRC's regulations governing the public and private offerings of securities by listed companies, the Measures specified the three general requirements regarding the issuer's compliance record, profitability and accounting reports.
The Tentative Provisions were enacted to ensure safety and stability in overseas investments by the PRC National Social Security Fund. It sets out qualifications and duties for overseas investment managers and overseas asset custodians.
The scope of enterprises eligible for tax refunds on the purchase of domestically-manufactured equipment includes foreign-invested enterprises that are ordinary payers of value-added tax or engage in transport business or the development of ordinary housing.
In order to further open up the logistics sector to foreign investment in pilot projects, the term 'foreign-invested logistics enterprises' has been expanded and foreign investors may now apply to establish foreign-invested logistics enterprises and engage in one or more types of logistics business.
The Trial Measures stipulate the scope and qualifications of eligible investment plans, which must be purchased through and operated by a professional institution. The investment scale and proportion by PRC insurance companies are also limited.
To initiate the implementation of a cost sharing mechanism under the PRC Renewable Energy Law, these Measures set up a pricing system for electricity generation using wind power, biomass, solar energy, ocean energy and geothermal energy (but excluding hydroelectricity).
The Measures for the Administration of Internet Electronic Mail Services is the first legislative attempt to address surging internet usage in the PRC through internet email services.