- The State Council Releases the Catalogue of Investment Projects Subject to Government Verification and Approval (2014 Edition)
On 31st of October 2014, the State Council released the Notice of the State Council on Promulgating the Catalogue of Investment Projects Subject to Government Verification and Approval (2014 Edition), which became effective on the same date.
Enterprises that intend to invest in and construct the fixed-asset investment projects listed in the Catalogue shall apply to relevant project verification and approval authorities for verification and approval in accordance with pertinent provisions. Enterprises that intend to invest in and construct projects other than those listed in the Catalogue shall be subject to record-filing administration. Projects invested and constructed by public institutions, social organizations, etc. shall be governed by the Catalogue.
Sourced from http://www.gov.cn/zhengce/content/2014-11/18/content_9219.htm
- The Supreme People’s Court Promulgates Provisions on the Jurisdictions over Cases by Intellectual Property Courts in Beijing, Shanghai and Guangzhou
On 27th of October 2014, the Supreme Court approved and promulgated the Provisions on the Jurisdictions over Cases by Intellectual Property Courts in Beijing, Shanghai and Guangzhou, which took effect on 3rd of November 2014.
According to the Provisions, an intellectual property court shall govern the following cases of first instance within the jurisdictions of the municipality of its domicile. Such cases include civil and administrative cases of patents, new plant varieties, layout designs of integrated circuits, technical know-how and computer software; administrative cases brought against the administrative acts involving copyrights, trademarks, unfair competition, etc. that are committed by the departments of the State Council or local people’s governments at and above the county level; and civil cases involving the recognition of well-known trademarks.
All intermediate people’s courts in Beijing Municipality, Shanghai Municipality and the Guangzhou Intermediate People’s Court shall no longer accept civil and administrative cases concerning intellectual property rights
Sourced from http://www.chinacourt.org/law/detail/2014/10/id/147980.shtml
- The General Office of the State Council Announces Certain Opinions on Strengthening Controls of Imports
On 23rd of October 2014, the General Office of the State Council announced Certain Opinions on Strengthening Controls of Imports, urging relevant departments to take strategically proactive actions to boost importation of advanced technological device, core components and stable recourse products, achieve a reasonable increase in imported ordinary consumer products, vigorously promote service trade imports, further optimize import administration policies, make import trade more convenient, vigorously develop the import boost platform, and take active part in bi-lateral and multi-lateral cooperation. In addition, as required by the Opinions, governmental departments should simplify administrative review and approval procedures and formalities, press on with preparation for detailed work plans and set a deadline for completion of such plans.
Sourced from the official website of the Ministry of Commerce of the P.R.China:
http://tjtb.mofcom.gov.cn/article/e/201411/20141100793288.shtml
- The National Development and Reform Commission Promulgates the Revised Edition of the Catalogue of Industries for Guiding Foreign Investment for Solicitation of Public Opinions
On 4th of November 2014, the National Development and Reform Commission (‘NDRC’) has, in conjunction with the Ministry of Commerce and other departments concerned, revised the Catalogue of Industries for Guiding Foreign Investment (2011 Revision) (hereinafter referred to as the ‘Catalogue’) to form the revision draft of the Catalogue, which was promulgated for solicitation of public opinions during the period from 4th of November 2014 through 3rd of December 2014. The official website of NDRC says that this round of revision to the Catalogue is aimed to actively and proactively expand liberalization, further enhance transparency, substantially reduce the number of items under the restricted category, relax the restrictions on the percentages of foreign shareholding, and focus on promoting the liberalization of manufacturing and service industries.
Sourced from the official website of the National Development and Reform Commission of the P.R.China: http://zys.ndrc.gov.cn/xwfb/201411/t20141104_647349.html
- The China Securities Regulatory Commission (‘CSRC’) Promulgates the Measures for the Administration of Material Asset Reorganization of Listed Companies and the Decision on Revising the ‘Measures for the Administration on Acquisition of Listed Companies’
On 24th of October 2014, the China Securities Regulatory Commission (‘CSRC’) promulgated the Measures for the Administration of Material Asset Reorganization of Listed Companies and the Decision on Revising the ‘Measures for the Administration on Acquisition of Listed Companies’.
This round of revision mainly involves (a) excision of provisions on approval for major purchases, sales and replacements of assets by listed companies, except for those via back-door listing, and provisions on pre-approval for tender-offer acquisition and approval for tender-offer acquisition exemption in two circumstances; (b) inclusion of new contents that may help make the existing marketized pricing mechanism for shares issued and assets purchased sounder; (c) clarification of the same requirements for execution of the back door listing formalities and the IPO examination and verification; (d) inclusion of new contents that may help further diversify acquisition and re-structuring payment tools; (e) elimination of restrictions on issuing shares to and purchasing assets from a non-affiliate third party and mandatory requirements on profit prediction and recovery; (f) inclusion of new contents that may help diversify tender-offer acquisition performance guaranty systems and lower tender-offer acquisition costs; (g) inclusion of new contents that help having the separation review system more explicitly defined, strengthen the in-process and post administration system and urge principal interested parties to perform their duties on their due positions.
Sourced from the official website of the China Securities Regulatory Commission:
http://www.csrc.gov.cn/pub/zjhpublic/zjh/201410/P020141024548321879951.pdf Picture of the month
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