Legal

• First compensation payout for spam SMS

  China's first lawsuit for sending unsolicited mobile phone text messages was filed against Jiangsu Unicom (JU), one of China's three largest telecommunications…

  September 02, 2006

• Draft rules for oil-trade cause concern

  By the end of 2006, pursuant to its agreement with the World Trade Organization, China will allow foreign companies into the business of distributing petrol…

  September 02, 2006

• Circular on Matters Relevant to the Entry by Foreign-invested Banks into the Market for the Provision of Overseas Financial Management Services and Custodian Services on Behalf of Customers

  关于外资银行代客境外理财业务和托管业务市场准入事项的通知

  This Circular provides implementing procedures to the earlier issued Tentative Measures for the Administration of Overseas Financial Management Services Offered by Commercial Banks on Behalf of Customers.

  September 02, 2006

• New Measures on Foreign Investment in China Real Estate

  Prohibits direct offshore ownership structure, guaranteed fixed returns for foreign-invested real estate enterprise, and heightens scrutiny in the area of equity interests transfer and merger & acquisition in real estate-related industry.

  September 02, 2006

• General Office of the Ministry of Commerce and General Office of the General Administration of Customs, Circular on Administrative Issues Relevant to the Re-import of Exported Domestically-produced Products Under General Trade

  商务部办公厅、海关总署办公厅关于一般贸易项下国产产品出口复进口有关管理问题的通知

  Issued: May 30 2006Main contents: For re-import in the form of general trade of exported products whose country of origin is China, all local departments…

  September 02, 2006

• PRC Individual Income Tax Law (3rd Revision)

  中华人民共和国个人所得税法 (第三次修正)

  After the third revision to PRC Individual Income Tax Law taxable income is now the monthly income less a deduction of Rmb1,600 for expenses.

  September 02, 2006

• Supplementary Provisions on the Investment in, and Establishment of, Companies with an Investment Nature by Foreign Investors

  关于外商投资举办投资性公司的补充规定

  The Supplementary Provisions relaxes pre-requisite for foreign investment in the PRC, eligibility of investment companies being recognized as regional headquarters and foreign exchange control procedures.

  September 02, 2006

• Opinions on Regulating the Entry of Foreign Investment into the Real Property Market and the Administration Thereof

  关于规范房地产市场外资准入和管理的意见

  The New Opinions on Foreign Investment in China Real Estate represents the PRC government's concern and determination to cool down an overheated real estate market.

  September 02, 2006

• Circular on Issues Relevant to Revising Certain Foreign Exchange Control Policies Relating to Insurance Business

  关于调整部分保险业务外汇管理政策有关问题的通知

  The Circular permits currency conversions between different foreign currencies at designated banks. It removes the foreign exchange limit and allows the collection of premiums either in renminbi or foreign exchange.

  September 02, 2006

• Adjudicating Letter of Credit-Related Cases

  The Provisions define applicable laws where international practices represented by the usual UCP 500 do not cover the disputed LC issue, the legal relationship between the parties to an LC, and the concept of 'LC fraud'.

  September 02, 2006