1. Administrative Measures for the Capital of Commercial Banks (Revised)
Promulgated by National Financial Regulatory Administration (NFRA)
Promulgated date: 1 November, 2023
Implementation date: 1 January, 2024
Document number: NFRA Order No. 4
Recently, the National Financial Regulatory Administration has issued the revised Administrative Measures for the Capital of Commercial Banks (hereinafter referred to as the Measures), which will come into force on January 1, 2024, and simultaneously issued the Circular on Matters Related to the Implementation of the Administrative Measures for the Capital of Commercial Banks. The Measures consists of 10 chapters and 206 articles, including the calculation of capital regulatory indicators and regulatory requirements, and the definition of capital. In terms of risk management requirements, the Measures requires the establishment and effective implementation of corresponding credit risk management systems, processes and mechanisms, the formulation by banks of business policies for and segmentation and management of trading desks on which the measurement of internal modeling method is based, and the establishment and improvement of the standards, rules and processes for the collection of loss data before applying for the adoption of loss multiplier and coefficient given by the administration. In terms of improving supervision and inspection requirements, the Measures clarifies that, on one hand, the content of supervision and inspection should be improved with reference to international standards; on the other hand, the implementation of the policy should be facilitated based on the existing domestic supervisory system. (Source: National Financial Regulatory Administration)
https://www.cbirc.gov.cn/cn/view/pages/ItemDetail.html?docId=1134197&itemId=928
2. Interim Provisions on Benchmarks of Administrative Discretion for Emergency Management
Promulgated by Ministry of Emergency Management
Promulgated date: 7 November, 2023
Implementation date: 1 January, 2024
Document number: Ministry of Emergency Management Order No. 12
According to the Provisions, the benchmark of administrative discretion for emergency management shall be in compliance with the principle of punishment commensurate with violations, and combining punishment with leniency to avoid excessively light or severe punishment and obvious unfairness. The administrative penalty discretion benchmark shall include violations, legal basis, discretionary order, applicable conditions and specific standards. The Provisions clarifies that the circumstances for lighter, general and severer number of fines shall be clear and specific and strictly limited within the legal range. Emergency management departments shall, when implementing administrative penalties, adhere to the combination of punishment and education, play a role in educating and guiding citizens, legal persons and other organizations to consciously observe the law. The Provisions also requires that when formulating benchmarks for administrative licensing discretion, the specific conditions and workflow of administrative licensing shall be clarified, no licensing conditions or links and certification materials shall be added, and no unfair provisions such as discriminatory and territorial restrictions shall be set up directly or in a disguise manner to prevent industry monopoly, local protection, and market segmentation. (Source: Ministry of Emergency Management)
https://www.mem.gov.cn/gk/zfxxgkpt/fdzdgknr/202311/t20231107_467840.shtml
3. Measures for Supervision and Inspection of Drug Clinical Trial Organizations
Promulgated by National Medical Products Administration
Promulgated date: 3 November, 2023
Implementation date: 1 March, 2024
Document number: No.56 of 2023
The Measures, including general provisions, inspection organizations and personnel, inspection procedures, connection with inspection-related work, handling of inspection results and supplemental provisions, are applicable to the drug regulatory authorities’ inspections and handling towards drug clinical trial organizations of their compliance with relevant laws and regulations in drug clinical trial activities carried out for the purpose of drug registration, and their implementation of quality management standards for drug clinical trials, etc.. Among them, the Measures requires that trial institutions and researchers should effectively fulfill their responsibilities related to drug clinical trials, and shall, when authorizing other personnel to undertake clinical trials, establish corresponding management procedures and take measures to implement quality management and strengthen relevant information construction. Researchers shall supervise all authorized personnel in carrying out clinical trials in accordance with the law and regulations, implement trial protocols, fulfill work responsibilities, protect the rights and interests and safety of subjects, and guarantee that trial data and results are true, accurate, complete and reliable. (Source: National Medical Products Administration)
https://www.nmpa.gov.cn/xxgk/ggtg/ypggtg/ypqtggtg/20231103175749117.html
4. The Guiding Opinions on the Innovative Development of Humanoid Robots
Promulgated by Ministry of Industry and Information Technology
Promulgated date: 2 November, 2023
Document number: MIIT [2023] No. 193
The Opinions proposes that by 2025, an innovation system for humanoid robots will be initially established, and that a number of key technologies such as “brain, cerebellum and limbs” will make breakthroughs, to ensure the safe and effective supply of core components. By 2027, the innovation capacity of humanoid robot technology will be significantly improved so that a safe and reliable system of industrial chain and supply chain will be formed, an industrial ecology with international competitiveness will be built, and the comprehensive strength will reach the world’s advanced level. To this end, the Opinions has established five tasks, including breakthroughs in key technologies, cultivating key products and expanding application scenarios. Among them, the Opinions has pointed out that focusing on key manufacturing fields such as 3C and automotive, the tool operation and task execution capabilities of humanoid robots shall be enhanced, model production lines and factories with humanoid robots shall be established, and deep application in typical manufacturing scenarios shall be achieved. (Source: Ministry of Industry and Information Technology)
https://www.miit.gov.cn/zwgk/zcwj/wjfb/tz/art/2023/art_48fe01d562644aedb7ea3f4256df8190.html
5. Guidelines for Regulatory Interviews on Abuse of Administrative Power to Exclude or Restrict Competition
Promulgated by State Administration for Market Regulation
Promulgated date: 27 October, 2023
Implementation date: 27 October, 2023
Document number: SAMR [2023] 93
According to the Guidelines, the anti-monopoly enforcement agency may conduct interviews in accordance with the law before and during the investigation for case docketing, after making suggestions to the relevant higher authority to deal with the case in accordance with the law, and after the verification of the clues or the conclusion of the investigation of the case. The implementation of interviews shall not affect other law enforcement measures such as docketing a case, investigating, and making suggestions to the relevant higher authorities to deal with the case in accordance with the law. The Guidelines further clarifies that, after the interview, if the interviewed party immediately takes measures to correct the illegal behaviors, it may be deemed to fall under the circumstances of taking proactive measures to stop relevant behaviors and remove relevant competitive restrictions as prescribed in paragraph 2 of Article 15 and paragraph 2 of Article 20 of the Provisions on Prohibiting the Acts of Eliminating or Restricting Competition by Abuse of Administrative Power. If the interviewed party refuses to carry out or fails to carry out the corrective measures as scheduled, or fails to achieve the effect of the implementation of the improvement measures, the anti-monopoly enforcement agency may require the interviewed party to continue to implement the improvement measures or take other law enforcement measures. (Source: State Administration for Market Supervision)
https://www.samr.gov.cn/zw/zfxxgk/fdzdgknr/fldj/art/2023/art_c44eb107f028470f8f364f59106785da.html
6. Measures for the Administration of Law Firms Engaging in Securities Law Practice
Promulgated by China Securities Regulatory Commission, Ministry of Justice
Promulgated date: 30 October, 2023
Implementation date: 1 December, 2023
Document number: CSRC Order No. 223
The main amendments of the Measures are as follows: first, expanding the fields in which law firms engage in securities legal services; second, deleting the provisions linking filing and investigation to acceptance and examination; third, improving the regulatory provisions on securities legal services; fourth, strengthening the requirements for law firms to establish a sound risk control system. The revised Measures adds relevant business types, including initial public offering of stocks and depository receipts and listing; application by a joint stock limited company for listing and public transfer of stock in the National Small and Medium-sized Enterprises Stock Transfer System; public offering of stock to unspecified qualified investors and listing on the Beijing Stock Exchange; offering of shares by an unlisted public company to specific targets; information disclosure by listed companies and unlisted public companies; listing transfer of listed companies on the Beijing Stock Exchange and many other types of business. (Source: CSRC)
http://www.csrc.gov.cn/csrc/c106256/c1653914/1653914/files/715b032ee0ae4ca6ba099a5533b667fe.pdf
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