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.
Promulgated: July 6 2005Effective: October 1 2005Interpreting authority: State Administration of TaxationApplicability: Measures for the administration…
Issued: October 20 2005Main contents: Where an application by a foreign investor intending to make use of the profits from a foreign-invested enterprise…
The Letter further elaborates on the Provision for the Administration of the Employment of Foreigners in China, and requires that foreigners engaged in state-specified occupations must hold an Occupational Qualification Certificate of the PRC.