Legislation

China to combat soil pollution.

National Legislation ENVIRONMENTAL PROTECTIONCircular on Issues Relevant to the Implementation of the Provision on the Amount of “Payable Sewage Charges”…

Shareholder right to dissolve the company clarified.

IPOs not allowed within a year of thorough reorganization.

Standards of asset appraisal firms controlled to protect the securities market.

The number of futures companies in which one entity has a controlling interest or equity interest may not exceed two, and the number of futures companies in which it has a controlling interest may not exceed one.

When a securities company is to establish a branch, it shall require the approval of the China Securities Regulatory Commission. A branch shall not have legal personality and its legal liability shall be borne by the securities company.

The rate for the deduction of the expenses before individual income tax of the owners of family proprietorships and of investors in wholly individually-owned enterprises and partnerships is uniformly set at Rmb24,000 per year (Rmb2,000 per month).

Before a securities company submits an application for an initial public offering of shares and the listing thereof, it shall submit relevant materials to the China Securities Regulatory Commission and apply for the issuance of a regulatory opinion.