Legislation

These Measures shall apply to commercial banks established in the PRC, including wholly Chinese-owned banks, wholly foreign-owned banks and Sino-foreign joint venture banks.

Commercial banks (including foreign-funded banks with legal personality in China), securities companies, securities investment consulting firms, independent Fund sales institutions and other institutions specified by the CSRC may apply to the CSRC for Fund sales business qualifications.

Rules for lawyers to follow when verifying the offering of a securities investment fund.

China's variable annuities may provide GMDB, GMMB, GMIB and GMAB.

Alternative energy and advertising included in the industry structure adjustment catalogue for the first time.

Overseas investors may indirectly own 5% of equity interest in securities companies.

Foreign income of high and new technology enterprises also enjoys 15% preferential tax rate.

Greater tolerance is allowed for NPL ratio of small enterprises.

China launches its social old-age insurance scheme.