Legislation

Safety and pricing emphasised in essential medicine lists.

Restructuring of a microfinance company into a rural bank requires a bank promoter.

Directors' fees treated as wages for individual income tax purposes.

Regions encouraged to reduce the price of essential medicines.

The Measures detail the procedures for record filing of intellectual property rights with customs, customs detention of alleged infringing goods and customs handling of infringing goods.

Forex funds and overseas profits can be used for ODI projects.

The Interpretation elaborates the definition of terms mentioned in the PRC Property Law such as owner, exclusively-owned parts, parts owned in common and materially interested owners.

The Measures set forth the procedure for establishing a consumer finance company. The minimum registered capital required is Rmb300 million.

The Circular clarifies the determination of the taxable income derived from stock appreciation rights and restricted stock.