Law Digest

• Ministry of Commerce, Announcement (2005) No.59 Issues Relevant to Delegating the Administrative Authority over the Record Filing and Issue of Approval Certificates of Foreign-invested Enterprises, Further Simplifying the Examination and Approval Procedures and Others

  商务部公告2005年第59号 — 下放外商投资企业备案和批准证书发放管理权限、进一步简化审批程序等有关问题

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  November 30, 2005

• State Administration of Taxation, Official Reply to Tax Treatment Measures for Withdrawal of Materials from Bonded Warehouses and Export Regulatory Warehouses

  国家税务总局关于从保税仓库和出口监管仓库提取的料件有关税收处理办法的批复

  Issued: December 7 2005Main contents: The Official Reply gives consent to the issue of tax exemption certificates for import of materials for processing…

  November 30, 2005

• State Administration of Taxation, Official Reply Relating to the Examination and Approval Authority over Tax Exemption, Offsetting and Refund for Export of Products of Member Enterprises Purchased by Production-type Conglomerates

  国家税务总局关于生产型集团公司收购成员企业产品出口有关免抵退税审批权限的批复

  Issued: November 12 2005Main contents: The Official Reply gives consent to the examination and approval by offices of the State Administration of Taxation…

  November 30, 2005

• State Administration of Foreign Exchange, Guidelines for Market Makers of the Interbank Foreign Exchange Market (Tentative)

  国家外汇管理局银行间外汇市场做市商指引 (暂行)

  Issued: November 24 2005Effective: as of date of issueInterpreting authority: State Administration of Foreign Exchange (SAFE)Applicability: The term "market…

  November 30, 2005

• State Administration of Foreign Exchange, Circular on Issues Relevant to Improving the Administration of Foreign Debt

  国家外汇管理局关于完善外债管理有关问题的通知

  Promulgated: October 21 2005Effective: December 1 2005Main contents: The Circular deals with issues such as:1. delayed payments of at least 180 days and…

  November 30, 2005

• Ministry of Commerce, Measures for the Administration of the Circulation of Alcoholic Beverages

  商务部酒类流通管理办法

  Promulgated: November 7 2005Effective: January 1 2006, with a transition period of three months from the effective dateInterpreting authority: Ministry…

  November 30, 2005

• Supreme People's Court and Supreme People's Procuratorate, Official Reply to Issues Relevant to Handling Criminal Cases on the Infringement of Copyright Involving Audiographic and Videographic Works

  最高人民法院、最高人民检察院关于办理侵犯著作权刑事案件中涉及录音录像制品有关问题的批复

  Issued: October 13 2005Effective: October 18 2005Main contents: The quantity benchmarks of copies specified in Item(2) of the first paragraph and Item(2)…

  October 31, 2005

• State Administration of Foreign Exchange, Circular on Adjusting the Measures for the Administration of the Positions for Settlement and Sale of Foreign Exchange of Banks

  国家外汇管理局关于调整银行结售汇头寸管理办法的通知

  Regulations and approval requirements concerning consolidated positions for settlement and sale of foreign exchange.

  October 31, 2005

• Other Recent Legislation for this Month

  National LegislationADVERTISING AND MARKETINGDecision on Adjusting Corresponding Articles of Relevant Advertising Regulatory Rules in Accordance with the…

  October 31, 2005

• Ministry of Finance, Measures for the Administration of Debt Provisioning by Financial Institutions

  财政部金融企业呆账准备提取管理办法

  Compared with previous rules regarding debt provisioning, the Measures introduces greater flexibility in making the minimum 1% of year-end balance of risk assets a guideline rather than a mandatory requirement. It changes the nature of general provisions allocated from one of pre-tax deduction to a post-tax distribution of profit. The Measures allows financial institutions to set aside two types of loan loss provisions: specific provisions and special provisions. Further requirements for other categories of the asset impairment provisions, for instance bad debt provisions and provisions for impaired long-term investments, are also in place.

  October 31, 2005