Law Digest

Issued: March 23 2004Main contents: According to the Ministry of Land and Resources, Issues Relevant to State-owned Allocated Leasehold Mortgage Registration…

Promulgated: May 11 2004Main contents: The Memorandum states that the amount of funds raised by companies through initial offering of shares to the public…

Ten years after the PRC Protection of the Rights and Interests of Consumers Law, the Provisions add more details to product defects, standard contracts, proof of purchase, achieve better consumer rights protection, remote sales and tortuous liability.

The Circular details the screening of fixed asset investment projects in respect of the guiding ideology, principles, scope, content, post-screening handling, working methods and work progress.

Prohibition to use state authorities for commercial advertising purposes.

The validity of pre-purchased commodity premises assignments in Shanghai.

The definition for safeguard has been amended, and the maximum duration of a safeguard measure is extended to ten years.

The revised Law encourages increased foreign trade and cross-border services and cooperation by simplifying the approval requirements to trading rights, but impose new intellectual property licencing barriers.

The new Procedures represent China's WTO commitments to remove restrictions against wholly-owned foreign enterprises, high threshold registration requirements, introduce more permissible retail and wholesale activities, and simplifies approval process.