Legislation

Insurance companies are now allowed to invest in convertible corporate bonds.

The minimum monthly wage in Shanghai is raised to RMB635, starting from 1 July 2004.

Minimum hourly wage in Shanghai is to be raised to RMB 5.5 from 1 July 2004.

Establishing an enterprise pension and the payment of fees.

National LegislationBankingAdministration of Issue of Subordinated Debt by Commercial Banks Procedures 商业银行次级债券发行管理办法 …

Documentary requirements for registration of existing foreign exchange business and application of new foreign exchange activities.

Issued: June 15 2004Effective: July 1 2004Applicability: Where a fund of which shares of the fund are publicly sold, and record filing procedures are lawfully…

Tighter restrictions on foreign debts of FIEs are implemented, and 'hot money' inflows into RMB are as tightly restricted as 'capital flight' outflows.

Administration of occupational safety insurance, and qualification of related insurance claims.