Law Digest

• China Banking Regulatory Commission, Implementing Opinions on Encouraging and Guiding the Entry of Private Capital into the Banking Sector

  中国银行业监督管理委员会关于鼓励和引导民间资本进入银行业的实施意见

  Minimum shareholding of private investors in rural banks may be lowered to 15%.

  July 12, 2012

• China Securities Regulatory Commission, Measures for the Administration of the Offering and Underwriting of Securities (2nd Revision)

  中国证券监督管理委员会证券发行与承销管理办法 (第二次修订)

  Share issuers and lead underwriters allowed to determine share pricing through negotiation between themselves.

  July 12, 2012

• Pudong New Area of Shanghai Municipality, Implementing Opinions on Intensifying the Reform and Innovation of the Administration of Industry and Commerce and Further Promoting the Innovation Drive and Transformation Development of Pudong

  上海市浦东新区关于深化工商行政管理改革创新进一步推进浦东创新驱动、转型发展的实施意见

  FIEs encouraged to invest overseas Rmb funds in Pudong.

  July 12, 2012

• Ministry of Land and Resources, Measures for the Disposal of Idle Land (Revised)

  国土资源部闲置土地处置办法 (修订)

  A charge of 20% of the land grant or allocation fee to be imposed on land left idle for a year.

  July 12, 2012

• China Securities Regulatory Commission, Circular on Implementation of the Key Operational Points of the «State Council, Several Opinions on Encouraging and Guiding the Healthy Development of Investments from the Private Sector»

  中国证券监督管理委员会关于落实《国务院关于鼓励和引导民间投资健康发展的若干意见》工作要点的通知

  Private enterprises encouraged to list overseas.

  July 12, 2012

• National Development and Reform Commission, Circular on Matters Relevant to the Issuance of Renminbi-denominated Bonds in the Hong Kong Special Administrative Region by Entities in China that Are Not Financial Institutions

  国家发展改革委员会关于境内非金融机构赴香港特别行政区发行人民币债券有关事项的通知

  Mainland Chinese enterprises allowed to issue renminbi bonds in Hong Kong.

  May 31, 2012

• Ministry of Finance, State Administration for Industry and Commerce, Ministry of Commerce, State Administration of Foreign Exchange and China Securities Regulatory Commission, Plan for the Localisation and Change of Form of Sino-foreign Cooperative Joint Venture Accounting Firms

  财政部、国家工商行政管理总局、商务部、国家外汇管理局、中国证券监督管理委员会中外合作会计师事务所本土化转制方案

  The senior partner of a Sino-foreign cooperative joint venture accounting firm must have Chinese citizenship.

  May 31, 2012

• Central Commission for Discipline Inspection of the Communist Party of China, Organisation Department of the Central Committee of the Communist Party of China, State-owned Assets Supervision and Administration Commission of the State Council, Ministry of Supervision, All China Federation of Trade Unions and All-China Federation of Industry and Commerce, Provisions on Democratic Management of Enterprises

  中共中央纪委、中共中央组织部、国务院国有资产监督管理委员会、监察部、中华全国总工会、中华全国工商业联合会企业民主管理规定

  All enterprises required to establish employee representative congresses.

  May 31, 2012

• Other Recent Legislation This Month

  National legislationConstitution and legal systemSeveral Provisions for the Implementation by People's Courts of Probity Rules to Prevent Conflicts of…

  May 31, 2012

• State Administration of Taxation, Announcement on Several Tax Treatment Issues Relating to Taxable Income for Enterprise Income Tax Purposes

  国家税务总局关于企业所得税应纳税所得额若干税务处理问题的公告

  Clarification on the pre-tax deduction of business entertainment expenditures for the enterprise preparatory period.

  May 31, 2012