Legislation

First set of measures on the leverage ratio of banks.

Pilot Rmb settlement of FDI launched.

Foreign banks allowed to sell mutual funds in China.

Holding companies must increase capital before re-investment.

Trust companies allowed to trade stock index futures.

After the foreign-invested company with an investment nature has converted the lawful income derived in China into an increment in registered capital, it may re-invest the same in an enterprise in China.

Parties shall carry out record filing procedures within three months from the date on which their patent licensing contract entered into effect.

The new Law raises individual income tax threshold to Rmb3,500.

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.