Legal

Environmental impact assessment procedures simplified.

Joint private and foreign investment encouraged in banks in pilot areas.

List of critical network equipment announced.

Foreign credit rating agencies allowed to enter China's interbank bond market.

Major shareholders not allowed to reduce their shareholdings through block trades.

No limits on the number of credit card companies in China.

Banks required to conduct annual stress tests on collateral.

The SPC has clarified that shareholders can be held liable for divulging trade secrets, and the State Council has restricted outbound deals in real estate and hotel industries and substantially raised the threshold for establishing financing security companies

VAT rate structure simplified.