1. The Standing Committee of the National People’s Congress Promulgates the Cyber Security Law of the People’s Republic of China
The Standing Committee of the National People’s Congress promulgated the Cyber Security Law of the People’s Republic of China on 7th November 2016 to clarify duties and power of regulatory authorities about cyber security and legal responsibilities for personal information protection, strengthen individual’s control of private information and take tougher actions against infringement on personal information. [Full Text]
2. The State Administration for Industry and Commerce Promulgates the Provisions of the Registration Administration of Advertisements
On 1st November 2016 the State Administration for Industry and Commerce promulgated the Provisions of the Registration Administration of Advertisements, which took effect as of 1st December 2016.
According to the Provisions, TV stations, televisions and newspapers engaging in advertising without going through necessary registration processes will be punished by the administration for industry and commerce in accordance with advertising laws. Any change of registered matters about advertisements should also be registered. If it fails to be duly registered, the authority concerned will order the registration be completed within a limited period of time. If the registration process fails to be completed within the above limited period of time, an amount of penalty between 10,000 and 30,000 RMB is payable. [Full Text]
3. The Supreme Court Promulgates the Provisions on Changing or Adding Parties to Civil Execution Cases
On 7th November 2016 the Supreme Court promulgated the Provisions on Changing or Adding Parties to Civil Execution Cases, which took effect as of 1st December 2016.
The Provisions clarify the circumstances under which a change or addition of applicants for the Execution of decisions about them is allowed. According to the Provisions, persons acquiring rights included in a valid legal instrument or a universal derivative acquisition from a citizen’s death or amalgamation or separation of a legal entity or other organization or specific acquisitions from an assignment of debts or property division in a divorce can apply for adding themselves to applicants for the Execution of decisions about them for full protection of legal rights and interests of those decision Execution applicants and other beneficiaries. [Full Text]
4. Shanghai Municipal Finance Bureau Issues the Notice on the Value-Added Tax Threshold
On 27th October 2016 Shanghai Municipal Finance Bureau issued the Notice on the Value-Added Tax Threshold, which took effect as of 1st November 2016. The value added tax threshold is:
- 20,000 RMB of the monthly sales of goods
- 20,000 RMB of the monthly sales of taxable labor services
- 500 RMB each time (or day), if the tax is payable on each single volume or daily sales [Full Text]