Legal

• Other Recent Legislation for this Month

  National LegislationBankingMonitoring and Review of Bad Assets of Commercial Banks Tentative Procedures 商业银行不良资产监测和考核暂行办法L3610/04.03.25Administration…

  March 31, 2004

• State Administration of Taxation, Taxation Treatment Issues Concerning Bad Debt Losses Arising from Engagement in Telecommunications Business by Foreign-invested Enterprises Circular

  国家税务总局关于外商投资企业从事电信业务所发生的坏账损失税务处理问题的通知

  While prohibited to make bad debt provisions, foreign telecom operators may now treat customers' bill overdue for a year or more as bad debt.

  March 31, 2004

• PRC Constitution (4th Revision)

  中华人民共和国宪法 (第四次修正)

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

  March 31, 2004

• Shanghai Municipality, Several Issues Concerning the Implementation of the «Shanghai Municipality, Labour Contracts Regulations»Circular (2)

  上海市关于实施《上海市劳动合同条例》若干问题的通知 (二)

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

  March 31, 2004

• State Administration of Taxation, Income Tax Issues Relevant to Enterprise Equity Assignment Supplementary Circular

  国家税务总局关于企业股权转让有关所得税问题的补充通知

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

  March 31, 2004

• Ministry of Finance, Administration of the Business of Inter-market Transfer of the Custody of Treasury Bonds Procedures

  财政部国债跨市场转托管业务管理办法

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

  March 31, 2004

• State Administration for Industry and Commerce and Ministry of Commerce, Administration of Foreign-invested Advertising Enterprises Provisions

  国家工商行政管理总局、商务部外商投资广告企业管理规定

  Provides for foreign investment and participation in the PRC advertising market.

  March 31, 2004

• China Securities Regulatory Commission, Matters Relevant to the Implementation of the «Sponsorship System for Offering and Listing of Securities Tentative Procedures» Circular

  中国证券监督管理委员会关于实施《证券发行上市保荐制度暂行办法》有关事项的通知

  Clarification for the investment banking qualificaiton for the registration of sponsor representative.

  March 31, 2004

• Ministry of Finance and State Administration of Taxation, Relevant Tax Issues Concerning Exports of Production Enterprises whose Tax is not Refunded or whose Tax Rebate Rates are Lowered Circular

  财政部、国家税务总局关于生产企业出口不退税和调低退税率货物有关问题的通知

  Producers now has to bear the burdens for the tax portion that is not refunded.

  March 31, 2004

• Upgrading the Sponsorship System: The CSRC Makes Moves to Enhance Market Quality

  The creation of healthy capital markets in China has come under renewed attention with recent moves by the government to promote sound corporate practices by both issuing companies and sponsors.

  March 31, 2004