Issued: November 24 2005Effective: as of date of issueInterpreting authority: State Administration of Foreign Exchange (SAFE)Applicability: The term "market…
Promulgated: October 21 2005Effective: December 1 2005Main contents: The Circular deals with issues such as:1. delayed payments of at least 180 days and…
Promulgated: November 7 2005Effective: January 1 2006, with a transition period of three months from the effective dateInterpreting authority: Ministry…
This Circular provides that domestic debts of at least US$200K with repayment duration of at least 180 days will be administered through foreign debt registraion. Some pre-Circular interpretation conflicts and practical enforcement problems are also solved.
This Law provides that a company is a separate legal entity from its shareholders. Two types of companies are allowed: limited liability company (LLC), and companies limited by shares.
Issued: October 13 2005Effective: October 18 2005Main contents: The quantity benchmarks of copies specified in Item(2) of the first paragraph and Item(2)…
The Circular provides for the minimum credit rating of short-term financing bills in which a money market fund invests, while the domestic credit rating shall prevail over international credit rating. The percentage of the investment by a money market fund in the short-term financing bills and short-term corporate bonds issued by one company may not in total exceed 10% of the net value of the fund's assets. If the credit rating of short-term financing bills held by a money market fund drops, the fund shall fully divest itself of such bills within 20 trading days.
National LegislationADVERTISING AND MARKETINGDecision on Adjusting Corresponding Articles of Relevant Advertising Regulatory Rules in Accordance with the…
Compared with previous rules regarding debt provisioning, the Measures introduces greater flexibility in making the minimum 1% of year-end balance of risk assets a guideline rather than a mandatory requirement. It changes the nature of general provisions allocated from one of pre-tax deduction to a post-tax distribution of profit. The Measures allows financial institutions to set aside two types of loan loss provisions: specific provisions and special provisions. Further requirements for other categories of the asset impairment provisions, for instance bad debt provisions and provisions for impaired long-term investments, are also in place.