Law Digest

• China Securities Regulatory Commission, Working Guidelines for the Review in Connection with the Administrative Permission of Securities Companies No.10: Share Increase and Changes in Equity Interests of Securities Companies

  中国证券监督管理委员会证券公司行政许可审核工作指引第10号——证券公司增资扩股和股权变更

  Overseas investors may indirectly own 5% of equity interest in securities companies.

  July 08, 2011

• Ministry of Finance and State Administration of Taxation, Circular on Issues Relevant to the Tax Rate Applicable to and the Setoff of Tax on Overseas Income of High and New Technology Enterprises

  财政部、国家税务总局关于高新技术企业境外所得适用税率及税收抵免问题的通知

  Foreign income of high and new technology enterprises also enjoys 15% preferential tax rate.

  July 08, 2011

• China Banking Regulatory Commission, Circular on Supporting Commercial Banks to Further Improve the Financial Services for Small Enterprises

  中国银行业监督管理委员会关于支持商业银行进一步改进小企业金融服务的通知

  Greater tolerance is allowed for NPL ratio of small enterprises.

  July 08, 2011

• State Council, Guiding Opinion on the Launch of the Pilot Social Old-age Insurance Project for Urban Residents

  国务院关于开展城镇居民社会养老保险试点的指导意见

  China launches its social old-age insurance scheme.

  July 08, 2011

• China Insurance Regulatory Commission, Circular on Launching Pilot Variable Annuity Projects

  中国保险监督管理委员会关于开展变额年金保险试点的通知

  Pilot variable annuity projects launched in Beijing, Shanghai, Guangdong, Shenzhen and Xiamen.

  July 08, 2011

• Ministry of Finance, Guiding Opinion on Directing Enterprises to Select Accounting Firms Using Objective Standards

  财政部关于引导企业科学规范选择会计师事务所的指导意见

  Large local accounting firms are being promoted.

  July 08, 2011

• Ministry of Health, Provisions on the Filing and the Acceptance Thereof of New Varieties of Food-related Products

  卫生部食品相关产品新品种申报与受理规定

  Provisions to combat inclusion of inedible substance in foodstuffs.

  July 08, 2011

• Other Recent Legislation for This Month

  National legislation Economic policyNational Planning for Zones of Principal Functions全国主体功能区规划 L2100/10.12.21 Foreign exchangeOperational…

  July 08, 2011

• China Securities Regulatory Commission, Rules for the Practice of Securities Law by Law Firms (Trial Implementation)

  中国证券监督管理委员会律师事务所证券法律业务执业规则（试行）

  Original documents are required for lawyers' verification of legal personality.

  July 08, 2011

• Shanghai Municipality, Several Opinions on Accelerating the Development of New Towns in Shanghai

  上海市关于本市加快新城发展的若干意见

  Shanghai to develop suburbs into new towns.

  July 08, 2011