Legal

• China Banking Regulatory Commission, Administration of Investment and Equity Participation in Chinese-invested Financial Institutions by Offshore Financial Institutions Procedures

  中国银行业监督管理委员会境外金融机构投资入股中资金融机构管理办法

  Promulgated: December 8 2003Effective: December 31 2003Interpreting authority: China Banking Regulatory Commission (CBRC)Applicability: "Offshore financial…

  November 30, 2003

• People's Bank of China Notice [2003] No.16 (Engagement in renminbi services by Hong Kong banks)

  中国人民银行公告 [2003]第16号(关于香港银行经营人民币业务)

  Issued: November 18 2003Main contents: The Notice states that the People's Bank of China will provide clearing arrangements for Hong Kong banks providing…

  November 30, 2003

• State Administration of Taxation, Issues Relevant to the Follow-up Administration after Cancellation of Certain Examination and Approval Requirements in Connection with Foreign-invested Enterprise and Foreign Enterprise Income Tax Circular

  国家税务总局关于取消外商投资企业和外国企业所得税若干审批项目后续管理有关问题的通知

  Issued: October 24 2003Effective: January 1 2003Main contents: The Circular details the follow-up administration after the cancellation of the examination…

  November 30, 2003

• China Securities Regulatory Commission, Share Issuance Examination Committee Tentative Procedures

  中国证券监督管理委员会股票发行审核委员会暂行办法

  Promulgated: December 5 2003Effective: as of date of promulgationApplicability: The Procedures apply to the examination and verification of applications…

  November 30, 2003

• State Administration of Taxation, Implementation Approach on Preferential Treatment for Income Tax of Newly Established Enterprises Official Reply

  国家税务总局关于新办企业所得税优惠执行口径的批复

  Issued: November 18 2003Main contents: The Official Reply clarifies that the date of commencement of business of a newly established enterprise or work…

  November 30, 2003

• China Securities Regulatory Commission, Compilation Rules for Information Disclosure by Companies That Offer Securities to the Public (No. 13): Correction and Relevant Disclosure of Financial Information

  中国证券监督管理委员会公开发行证券的公司信息披露编报规则第19号–财务信息的更正及相关披露

  Issued: December 1 2003Interpreting authority: China Securities Regulatory CommissionApplicability: The Rules apply to circumstances in which a company's…

  November 30, 2003

• Department of Intermediary Supervision of the China Securities Regulatory Commission, Relevant Stipulation of Article 21 of the«Administration of Securities Business Organizations' Own Securities Business Procedures» Opinion

  中国证监会机构监管部关于《证券经营机构证券自营业务管理办法》第二十一条相关规定的意见

  Issued: June 9 2003Main contents: The Opinion clarifies that "a non-treasury-bond type securities" shall mean the "shares, convertible bonds, corporate…

  November 30, 2003

• State Council, PRC Import and Export Customs Duty Regulations

  国务院中华人民共和国进出口关税条例

  Promulgated: November 23 2003Effective: January 1 2004Main contents: As compared to the repealed 1992 Regulations, the new Regulations set forth the criteria…

  November 30, 2003

• China Banking Regulatory Commission, Administration of Auto Finance Companies Procedures Implementing Rules

  中国银行业监督管理委员会汽车金融公司管理办法实施细则

  Promulgated: November 12 2003Effective: as of date of promulgationInterpreting authority: China Banking Regulatory CommissionMain contents: The Implementing…

  November 30, 2003

• CBRC Unveils Implementing Rules for Auto Finance Companies

  Last month we covered the new auto finance company regulations. Soon after we went to press, the China Banking Regulatory Commission issued implementing rules for the regulations.

  November 30, 2003