Legislation

• China Securities Regulatory Commission, Guidelines on the Disclosure of Major Financial Information and Information on the Business Position Since the Financial Report Audit Date in Prospectuses for the Initial Public Offering of Shares and the Listing thereof of Companies

  中国证券监督管理委员会关于首次公开发行股票并上市公司招股说明书财务报告审计截止日后主要财务信息及经营状况信息披露指引

  Unaudited quarterly financial statements required to be provided in the prospectus after financial report audit date.

  December 31, 2013

• China Securities Regulatory Commission, Guidelines on the Disclosure of Information Relating to Profitability in Prospectuses for the Initial Public Offering of Shares and the Listing thereof of Companies

  中国证券监督管理委员会关于首次公开发行股票并上市公司招股说明书中与盈利能力相关的信息披露指引

  IPO issuers required to provide data comparison with competitors.

  December 31, 2013

• China Insurance Regulatory Commission, Circular on Issues Relevant to the Regulation of Captive Insurance Companies

  中国保险监督管理委员会关于自保公司监管有关问题的通知

  Circular issued to regulate captive insurance companies.

  December 31, 2013

• Guiding Opinions on the Launch of the Pilot Project for Preference Shares

  关于开展优先股试点的指导意见

  China allows issuance of preference shares.

  December 17, 2013

• People's Bank of China, Opinions on Financial Support for the Establishment of the China (Shanghai) Pilot Free Trade Zone

  中国人民银行关于金融支持中国（上海）自由贸易试验区建设的意见

  Individuals are allowed to engage in securities investment overseas.

  December 11, 2013

• Shanghai Municipality, Measures for the Administration of Record Filing of Foreign-invested Enterprises in the China (Shanghai) Pilot Free Trade Zone

  上海市中国（上海）自由贸易试验区外商投资企业备案管理办法

  FIEs required to give an undertaking before allowed establishment.

  December 11, 2013

• Announcement on Value-added Tax Issues Relevant to the Asset Restructuring of Taxpayers

  关于纳税人资产重组有关增值税问题的公告

  VAT shall not be imposed on asset transfers on multiple occasions when the ultimate transferee is the same.

  December 05, 2013

• Announcement on the Issue of the Reduction or Exemption of Enterprise Income Tax on Income Derived from the Transfer of Technology

  关于技术转让所得减免企业所得税有关问题的公告

  Technical consulting income may be counted as technology transfer income.

  November 28, 2013

• China Banking Regulatory Commission, Measures for the Administration of the Liquidity Risks of Commercial Banks (Trial Implementation) (Draft for Comments)

  中国银监会商业银行流动性风险管理办法 (试行) (征求意见稿)

  Issued: October 11 2013 Main contents: The Draft introduces the liquidity coverage ratio metric and requires commercial banks to have sufficient quality…

  November 27, 2013

• Legislative Affairs Office of the State Council, PRC Food Safety Law (Draft Amendments for Deliberation)

  国务院法制办公室中华人民共和国食品安全法 (修订草案送审稿)

  Issued: October 29 2013  Main contents: Where a third party provider of a platform for online food trading fails to perform its specified…

  November 27, 2013