Legislation

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

VAT system changed from production-based to consumption-based.

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.

Calculation of business turnover for business tax purposes revised.

National Legislation ACCOUNTINGChinese Institute of Certified Public Accountants, Guidelines on Audits Designated for Recognition of High-tech Enterprises…