Issued: October 22 2003Applicability: Intellectual property rights is defined to include: copyright and rights related to copyright; patents; proprietary…
Promulgated: December 27 2003Effective: February 1 2004Main contents: Under the revised Law the Monetary Policy Committee of the People¡¦s Bank of China…
The Procedures apply to law firms having already established representative offices in the Mainland. Association with Mainland law firms may not take the form of a partnership or a legal person, and shall retain independence of both parties in terms of legal status, names and finances. Fulfilling criteria listed therein, the Procedures provide application procedures for association submitted by the Hong Kong and Macao SAR law firms.
The Procedures represents the China Banking Regulatory Commission's administration of offshore financial institutions' investment and equity participation in Chinese-invested banks, credit cooperatives, and finance companies. Rules are stipulated as to the eligibility of investing offshore institutions (including the year-end total assets, credit ratings, profitability, capital adequacy ratio) and the maximum investment and equity participation ratio. CBRC's approval is required under the Procedures for the application for foreign investment, the change in registered capital or equity structure, as well as shareholders composition. Hong Kong, Macao and Taiwan institutions are regarded as foreign institutions under the Procedures.