Legal

The China Banking Regulatory Commission (CBRC) promulgated the long-awaited Administration of Auto Finance Companies Procedures (the Procedures) on October 3 2003. The Procedures are seen as an important step towards the liberalization of China's automobile market.

Promulgated: August 1 2003Main contents: The Provisions relax restrictions on registered capital, method of capital contribution, examination and approval…

Issued: October 20 2003Effective: November 1 2003Main contents: Major revisions to the Charter include:1. the futures exchange has one more function to…

Issued: July 11 2003Effective: as of date of issueInterpreting authority: State Electricity Regulatory CommissionApplicability: "Optimization of inter-regional…

The China Banking Regulatory Commission (CBRC) promulgated the long-awaited Administration of Auto Finance Companies Procedures (the Procedures) on October 3 2003. The Procedures are seen as an important step towards the liberalization of China's automobile market.

Shanghai has issued new regulations that govern the process of acquiring state-owned enterprises. The new rules should be read in conjunction with the various national level regulations which give foreign investors an opportunity to participate in state enterprise reform.

A circular which provides guidelines on foreign investments in Shanghai and the relevant industries that are in line with the municipal government's plan.

A newly set of provisions promulgated by the China Banking Regulatory Commission to regulate Auto Finance Companies. This marks a closer step to the WTO commitments and a more liberalized auto industry.

State enterprise reform is an urgent issue facing the Chinese government. Among the important legislation issued in 2003 in this area are provisions from the Supreme People's Court that govern disputes involving enterprise restructuring.