China Laws and Regulations Update in May 2017

1.The State Administration for Industry and Commerce Releases the Opinions on Making the Registration Process More Efficient and Reforming the Registration of Business Names System

In order to deepen the business system reform, make the process of registering business names (including names of farmers’ cooperatives and individually owned businesses) more efficient and reform the registration of business names system, the State Administration for Industry and Commerce released on 19th April 2017 the Opinions on Making the Registration Process More Efficient and Reforming the Registration of Business Names System, opening the database of business names and related services.

(Source: Website of the State Administration for Industry and Commerce)

http://www.saic.gov.cn/zw/wjfb/zjwj/201704/t20170419_261533.html

2.The State Administration for Industry and Commerce Releases the Opinions on Making the Process of Enterprise Registration Fully Electronized

On 10th April 2017 the State Administration for Industry and Commerce released the Opinions on Making the Process of Enterprise Registration fully electronized. An online registration system that covers all activities and applies to all types of enterprises will be used by the end of October this year. This system will enable all enterprises to go through and complete establishment, change, registration, cancellation and other related processes on the Internet. The registration process will be fully electronized in developed areas.

(Source: Website of the State Administration for Industry and Commerce)

http://www.saic.gov.cn/zw/wjfb/zjwj/201704/t20170412_261164.html

3.The State Administration of Taxation Makes the Announcement on Clarification of Tax Collection and Management Related Issues with Respect to Replacing the Business Tax with a Value-Added Tax

On 20th April 2017 the State Administration of Taxation made the Announcement on Clarification of Tax Collection and Management Related Issues with Respect to Replacing the Business Tax with a Value-Added Tax, which states that tax rates for a good and a building service which are sold together are different and clarifies ten practical issues.

(Source: Website of the State Administration of Taxation)

http://www.chinatax.gov.cn/n810341/n810755/c2567296/content.html

4.The State Council Publishes the Circular on the Plan of Comprehensively Deepening the Reform and Opening Up of China (Shanghai) Pilot Free Trade Zone

On 31st March 2017 the State Council published the Circular on the Plan of Comprehensively Deepening the Reform and Opening Up of China (Shanghai) Pilot Free Trade Zone.

The Plan states that Shanghai Pilot Free Trade Zone will be developed into a place where the integrated system reform will be strengthened, development and innovation co-exist, international rules apply, risks and pressures brought by open economic systems can be measured, government functions will be transformed to increase the governance capability, new cooperation and development models will be used to take the “belt and road” initiative and push entities in domestic markets into overseas ones, more results of system innovation will be achieved in order to promote the national reform and opening up.

(Source: Website of the Central Government)

http://www.gov.cn/zhengce/content/2017-03/31/content_5182392.htm

5.The Human Resource and Social Security Department and the Ministry of Finance Publishes the Circular on the Increase of Basic Pension in 2017

On 13th April 2017 the Human Resource and Social Security Department and the Ministry of Finance published the Circular on the Increase of Basic Pension in 2017. As from 1st January 2017 the basic pension for former employees of enterprises and public services who had retired by the end of 2016 and receive pensions on a monthly basis generally increase by 5.5% of the average monthly basic pension in 2016.

(Source: Website of the Human Resource and Social Security Department)

http://www.mohrss.gov.cn/gkml/xxgk/201704/t20170414_269473.html

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