Legislation

• People's Bank of China and China Banking Regulatory Commission, Announcement [2009] No.14

  中国人民银行、中国银行业监督管理委员会公告〔2009〕第14号

  Lease financing companies and auto finance companies allowed to issue bonds.

  October 10, 2009

• Ministry of Health, National Development and Reform Commission, Ministry of Industry and Information Technology, Ministry of Supervision, Ministry of Finance, Ministry of Human Resources and Social Security, Ministry of Commerce, State Food and Drug Administration, State Administration of Traditional Chinese Medicine, Measures for the Administration of State Essential Pharmaceuticals Lists (Tentative)

  卫生部、国家发展和改革委员会、工业和信息化部、监察部、财政部、人力资源和社会保障部、商务部、国家食品药品监督管理局、国家中医药管理局国家基本药物目录管理办法 (暂行)

  Safety and pricing emphasised in essential medicine lists.

  October 10, 2009

• China Banking Regulatory Commission, Tentative Provisions on the Restructuring of Microfinance Companies into Rural Banks

  中国银行业监督管理委员会小额贷款公司改制设立村镇银行暂行规定

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

  October 10, 2009

• State Administration of Taxation, Circular on Clarifying Issues Concerning the Implementation of Several Individual Income Tax Policies

  国家税务总局关于明确个人所得税若干政策执行问题的通知

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

  October 10, 2009

• Ministry of Health, National Development and Reform Commission, Ministry of Industry and Information Technology, Ministry of Supervision, Ministry of Finance, Ministry of Human Resources and Social Security, Ministry of Commerce, State Food and Drug Administration and State Administration of Traditional Chinese Medicine, Implementing Opinion on the Establishment of the State System of Essential Pharmaceuticals

  卫生部、国家发展和改革委员会、工业和信息化部、监察部、财政部、人力资源和社会保障部、商务部、国家食品药品监督管理局、国家中医药管理局关于建立国家基本药物制度的实施意见

  Regions encouraged to reduce the price of essential medicines.

  October 10, 2009

• Implementing Measures for the «PRC Regulations for Customs Protection of Intellectual Property Rights»

  关于《中华人民共和国知识产权海关保护条例》的实施办法

  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.

  October 10, 2009

• State Administration of Foreign Exchange, Provisions on Foreign Exchange Control in Connection with Overseas Direct Investment by Organisations in China

  国家外汇管理局境内机构境外直接投资外汇管理规定

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

  October 10, 2009

• Interpretation of Several Issues Concerning the Specific Application of the Law in Disputes over the Division of Ownership of Buildings

  关于审理建筑物区分所有权纠纷案件具体应用法律若干问题的解释

  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.

  October 10, 2009

• Measures for the Administration of Pilot Consumer Finance Companies

  消费金融公司试点管理办法

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

  October 10, 2009

• Circular on Relevant Individual Income Tax Issues on Equity Incentives

  关于股权激励有关个人所得税问题的通知

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

  October 10, 2009