IPO sponsors required to keep working drafts.
VAT system changed from production-based to consumption-based.
Negotiation of share prices allowed for bankruptcy restructuring
Securities companies allowed to apply for margin trading and short selling.
Limits on shareholding period of securities companies to prevent short-term speculation.
Qualifications required for purchase of 5% or more of equity in a securities company.
Calculation of business turnover for business tax purposes revised.
Stricter criteria for sale of investment-type insurance by property insurance companies
According to the revised Regulations, the amount of consumption tax payable may be calculated ad valorem, at a flat rate or by a combination of the two.