New Chinese Laws and Regulations in February of 2012

Bridge IP Law Commentary today will post you the latest laws and regulations promulgated in February of 2012 in China.

I. The municipal conference on the regulation of the Administration of Labor Dispatch (“Working Conference”) in Shanghai, and the Several Opinions on Regulating the Administration of Labor Dispatch for Trial (“Several Opinions for Trial”)

In the morning of the 20^thFebruary of 2012, the conference on the regulation of the labor dispatch administration was held in Shanghai, on which the Several Opinions for Trial made by the three related departments in the coordination of labor relationship was issued. There are six articles in the Several Opinions for Trial, including to establish the record and regular report system of the labor dispatch unit, the doctrine of the local insurance payment for labor dispatched from other provinces, and the definition of the legal liabilities of the labor-dispatching units and employing units, etc..

II. The promulgation of the revised the Regulations on the Management of Certificates of Export and Import License by the Ministry of Commerce, PRC (“ Regulations”)

On 14February, 2012, the recently revised Regulations were issued on the website of the Ministry of Commerce, which will come into effect on 5^th March of 2012, and The 1999 Regulations on Management of Certificates of Export and Import License (外经贸配字[1999]No.87) shall be abolished at the same time.

III. The China Security Regulation Commission (“CSRC”) decides to revise the Measures of Administration of Takeover of Listed Companies (“Measures”)

The CSRC issued the Decision on the Revision of Article 62 and 63 of the Measures of the Administration of Takeover of Listed Companies (CSRC Order No. 77) on 14 February, 2012, and the revised Measures will enter into effect on 15 March, 2012. The revisions are mainly in purpose to clarify the requirement of disclosure for shareholders holding 50% shares who freely take the shares by more than 2%. For the shareholders holding 50% shares shall, according to the revised Measures, do disclosure in the day after the day when they freely take more shares by 1%, or when they freely take more shares by 2%, they shall stop taking in that day and the next day (the day of disclosure). According to the revision, requirement of disclosure for shareholders holding 50% shares almost becomes the same as that for the shareholders holding more than 30% shares who take more shares by less than 2% per month (however it is still different).

IV. The National Develop and Reform Committee (“NDRC”), the Ministry of Finance and the Ministry of Commerce, etc. Jointly Issued the Notice on Relevant Work of Promoting Healthy and Rapid Development in E-Commerce (“Notice”)

On 6 February, 2012, the NDRC, Ministry of Finance (“MOF”), Ministry of Commerce (“MOC”), People’s Bank of China (“PBOC”) , General Administration of Customs, State Administration of Taxation (“SAT”), State Administration of Industry and Commerce (“ SAIC”), General Administration of Quality Supervision, Inspection and Quarantine(“AQSIQ”) jointly issued the Notice, announcing that they have jointly established the National Expert Consultation Committee of Establishment of E-commerce Demonstration City to study the issues of E-commerce and provide support in study for making policies.

Additionally, in order to promote the healthy development of E-commerce, there are such measures as regulating e- payment and promoting IC card, making standards for online payment; establishment of E-commerce credit service system; advancing the pilots applying electronic invoice, etc., among which the technical standards and safety regulations for online payment and mobile payment made by the PBOC, as well as the application and promotion of e-payment and IC card are remarkable. Moreover, the NDRC would, together with the PBOC, MOC, SAT, SAIC and AQSIQ, establish e-commerce credit service system.

Quoted from the Newsletter of DeBund Law Offices.
Mr. You Yunting
Founder & Editor-in-Chief of Bridge IP Law Commentary
Partner & Attorney-at-law of Shanghai DeBund Law Offices
Email: Bridge@chinaiplawyer.com, Tel: 8621-5213-4900,
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Bridge IP Law Commentary is a website focus on the introduction of commercial laws in China, especially the intellectual property laws. All the posts here are our original works. And all news or cases referred here are from public reports, and our comments or analysis are of due diligence, neutrality and impartiality, representing our own opinions only and are our original works. You may contact us shall you have any opinions or suggestions.

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