China Laws and Regulations Update in September 2019

1.Arrangements Between Courts of Mainland China and Hong Kong Special Administrative Region for Mutual Support in Preservation Under Arbitration Procedures

Promulgated by the Supreme People’s Court

Document number: L.I.(2019) No.14

Promulgation date: 26 September 2019

Implementation date: 1 October 2019                            

According to the Arrangements, arbitration procedures for preservation in Hong Kong and mainland China should be seen as similar, people to whom arbitration procedures of Hong Kong apply are allowed to file preservation applications to the people’s court of mainland China and people to whom arbitration procedures of mainland China apply may seek mandamus and other provisional remedies from the court of Hong Kong SAR. The Arrangements consists of thirteen clauses covering the preservation scope, evaluation of arbitration procedures of Hong Kong, preservation application procedures, processing of preservation applications, etc. (Source: Website of the People’s Court Daily)

http://rmfyb.chinacourt.org/paper/html/2019-09/26/content_160430.htm?div=-1

2.Announcement on Clarifying the Policy of Repaying the Retained Increment Tax to Some of Taxpayers in the Advanced Manufacturing Industry at the End of a VAT Period

Promulgated by the Ministry of Finance and the State Administration of Taxation

Document Number: No.24 Announcement in 2019 of the Ministry of Finance and the State Administration of Taxation

Promulgation date: 31 August 2019

Implementation date: 31 August 2019

According to the Announcement, from 1 June 2019, some of qualified taxpayers in the advanced manufacturing industry that manufacture and sell non-metal mineral products, general devices, special devices and computers, communication and other electronic devices in an amount that accounts for 50% of their total sales can request to the tax authority for repayment of the retained increment tax during the tax return period as from July 2019. (Source: Website of the Ministry of Finance)

http://szs.mof.gov.cn/zhengwuxinxi/zhengcefabu/201909/t20190903_3379527.html

3.Regulations of Commercial Banks Doing Business as Insurance Agencies

Promulgated by the China Banking and Insurance Regulatory Commission

Document Number: Y.B.J.B.F.[2019] No.179

Promulgation date: 23 August 2019

Implementation date: 1 October 2019

According to the Regulations, total premiums received by a commercial bank selling on behalf of other people accidental damage insurance, health insurance, term life insurance, permanent life insurance, annuity insurance with a term of no less than ten years, endowment insurance with a term of less than ten years and property insurance (not including investment insurance provided by property insurance companies) shall be no less than 20% of total insurance premiums it has received as an insurance agency. (Source: Website of the China Banking and Insurance Regulatory Commission)

http://www.cbirc.gov.cn/cn/doc/9103/910303/C7F440C52E2D4EDA939FFC0250A85041.html

4.Notice on Carrying Out the Foreign Investment Policy for Ship Agencies in China

Promulgated by the Ministry of Transport

Document number: J.S.H.[2019] No.612

Promulgation date: 26 August 2019

Implementation date: 26 August 2019

The Notice requires that all ship transport authorities carry out the Special Measures to Administer Foreign Investment Access (Negative List) (2019 Edition), no longer restrict the percentage of shares held by foreign investors in ship agencies in China, follow the principle of treating Chinese and foreign investors equally and execute uniform regulation of business owners of Chinese and foreign funded ship agencies according to relevant laws and rules. (Source: Website of the Ministry of Transport)

http://xxgk.mot.gov.cn/jigou/syj/201909/t20190910_3249911.html

5.Announcement on Implementing the “All-in-One Certificate” on the Foreign Trade Business Owner and the Place of Origin Filed

Promulgated by the Ministry of Commerce, the General Administration of Customs and the China Council for the Promotion of International Trade

Document number: No.39 Announcement in 2019 of the Ministry of Commerce, the General Administration of Customs and the China Council for the Promotion of International Trade

Promulgation date: 27 September 2019

Implementation date: 15 October 2019                            

The commerce authorities are responsible for keep on record, gather and send information connected with the “all-in-one” certificate, which is “filed, registered and issued for one time”. Businesses file the foreign trade business owner and the place of origin at the same time. Businesses can apply for the place of origin certificate directly to the customs, CCPIT and other local organizations after filing new or changed information of the foreign trade business owner, and no longer need to file the place of origin. (Source: Website of the Ministry of Commerce)

http://www.mofcom.gov.cn/article/b/e/201909/20190902901294.shtml

 

Lawyer Contacts

You Yunting

86-21-52134918  

youyunting@debund.com

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