Focus on the establishment, termination and liquidation of foreign-invested insurance companies and their branch organizations.

The Provisions stipulate detailed regulations in relation to company registered capital, including its amount, method of contribution, asset appraisal, form of payment, increase or decrease, and the corresponding procedures, rights and liabilities.

Further implements the abolition of certain CSRC administrative examination and approval requirements.

A foreign importer or exporter must register with the Ministry of Commerce before customs declaration and release of goods will be handled.

The CIRC has taken steps to create clear rules for insurance companies in their investment management.

The Implementing Rules mainly focus on the establishment, termination and liquidation of foreign-invested insurance companies and their branch organizations, clarifying the PRC Administration of Foreign-invested Insurance Companies Regulations effective since February 2002.

The Provisions stipulates detailed regulations in relation to company registered capital, including its amount, method of contribution, asset appraisal, form of payment, increase or decrease, and the corresponding procedures, rights and liabilities.

Replaced the provisions of the same name promulgated by the CIRC on January 13 2000 and amended on March 15 2002.

By Martin G. [email protected] group restructurings in China, the ability to streamline a work force often becomes both a legal and a practical…