Law Digest

• China Banking Regulatory Commission, Measures for the Administration of Lease Financing Companies

  中国银行业监督管理委员会金融租赁公司管理办法

  New measures to open up the lease financing sector to foreign investment

  July 02, 2007

• State-owned Assets Supervision and Administration Commission of the State Council, Tentative Provisions for the Administration of the Acquisition of Shares of Listed Companies by State-owned Work Units

  国务院国有资产监督管理委员会国有单位受让上市公司股份管理暂行规定

  First provisions on the acquisition of shares of listed companies by state-owned entities.

  July 02, 2007

• Other Recent Legislation for this Month

  National LegislationBANKINGMeasures for the Administration of the Report of Transactions Suspicious of Terrorist Financing by Financial Institutions金融机构报告涉嫌恐怖融资的可疑交易管理办法L3610/07.06.11Measures…

  July 02, 2007

• Ministry of Commerce and State Administration of Foreign Exchange, Circular on Further Strengthening and Standardizing the Examination, Approval and Regulation of Direct Investment in Real Property by Foreign Investors

  商务部、国家外汇管理局关于进一步加强、规范外商直接投资房地产业审批和监管的通知

  Possession of the leasehold or property ownership is required before establishing a foreign-invested real property company.

  July 02, 2007

• People's Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission, Measures for the Administration of Customer Identification, and Preservation of Customer Identity Information and Transaction Records by Financial Institutions

  中国人民银行、中国银行业监督管理委员会、中国证券监督管理委员会、中国保险监督管理委员会金融机构客户身份识别和客户身份资料及交易记录保存管理办法

  Financial institutions required to check customer identity to prevent money laundering.

  July 02, 2007

• State Administration of Taxation, Circular on Issues Relevant to the Payment of Enterprise Income Tax by Foreign-invested Enterprises Engaging in Telecommunications Business

  国家税务总局关于从事通信业务的外商投资企业缴纳企业所得税有关问题的通知

  Time limits for depreciation of telecommunications equipment adjusted.

  July 02, 2007

• Beijing Municipality, Several Provisions on the Setting and Use of Reserve Prices in Invitation for Bids for Works of Construction Projects

  北京市工程建设项目施工招标标底编制和使用的若干规定

  More specific requirements on the reserve price to control bribery in construction project bidding in Beijing.

  June 02, 2007

• Ministry of Commerce, Measures for the Administration of Information Disclosure in Connection with Commercial Franchising

  商务部商业特许经营信息披露管理办法

  Franchisors required to disclose certain information to their franchisees before signing the contract.

  June 02, 2007

• Ministry of Finance and State Administration of Taxation, Circular on Tax Policies Relevant to Promoting the Development of Venture Capital Investment Enterprises

  财政部、国家税务总局关于促进创业投资企业发展有关税收政策的通知

  Tax reduction for venture capital investment enterprises investing in unlisted technology SMEs.

  June 02, 2007

• China Banking Regulatory Commission, Circular on Further Preventing Risks Relevant to Business Transactions Between Banking Financial Institutions and Securities Companies

  中国银行业监督管理委员会关于进一步防范银行业金融机构与证券公司业务往来相关风险的通知

  Banks required to ensure that loans are not used for stock trading.

  June 02, 2007