Legislation

The differing characterization of retained earnings as equity assignment income or dividend income, in situations as company stock transfer, liquidation and assignment of subsidiary.

Clarifies definitions for the applicable trade privileges given to Hong Kong enterprise in the Mainland.

The revised Provisions add one more section on recognition of a company with an investment nature by foreign investors as a regional headquarters.

Transfer of PRC treasury bonds held by the same client among different custodian institutions.

Promulgated: March 31 2004Effective: June 1 2004Main contents: Article 33 of the Regulations has been amended to include public interest as a criteria…

Foreign investors in the PRC banking industry are subject to duties in quarterly consolidated financial statement reporting, conglomerate reporting, official inspections, external audit and tripartite meetings.

Provides for foreign investment and participation in the PRC advertising market.

Clarification for the investment banking qualificaiton for the registration of sponsor representative.

The NPCSC interpretation of the Hong Kong Basic Law on the issues of Chief Executive and Legislative Council selection.