China Laws and Regulations Update in May 2019
1.Governmental Investment Rules
Promulgated by the State Council
Document number: G.L.No.712
Promulgation date: 5 May 2019
Implementation date: 1 July 2019
The Rules clarifies the definition, scope, decision making process, annual investment plan, implementation, supervision and management and legal liability connected with government investments. According to the Rules, government investment funds should be used in non-profit services, public infrastructure, agriculture and rural areas, ecological and environmental protection, significant technological advancement, social administration, national security and other public areas, mainly in non-business projects. All investors should be treated equally when allocating government investment funds. Discriminatory conditions are forbidden. (Source: Website of the State Council)