Law Digest

Protection of private property and human rights are now officially enshrined in the PRC Constitution.

The criteria for potential urban utilities concessionaire, and the terms and conditions of a concession agreement.

Measures for the protection of workers and formal requirements for employment contracts.

The differing characterization of retained earnings as equity assignment income or dividend income, in situations as company stock transfer, liquidation and assignment of subsidiary.

Clarifies definitions for the applicable trade privileges given to Hong Kong enterprise in the Mainland.

The revised Provisions add one more section on recognition of a company with an investment nature by foreign investors as a regional headquarters.

Transfer of PRC treasury bonds held by the same client among different custodian institutions.

Promulgated: March 31 2004Effective: June 1 2004Main contents: Article 33 of the Regulations has been amended to include public interest as a criteria…

Foreign investors in the PRC banking industry are subject to duties in quarterly consolidated financial statement reporting, conglomerate reporting, official inspections, external audit and tripartite meetings.