V. The Ministry of Finance Issued the Provisions on Handling Accounting of the Pilot Enterprise Levied VAT instead of Business Tax ( the” Provisions”)
On 17th of July, 2012, the Ministry of Finance issued the Provisions to coordinate the implementation of the pilot work of changing levy of Business Tax to VAT.
(From the website of the Ministry of Finance)
VI. The second Draft of Revised Copyright Law has been Issued for Public Opinions
On 6th of July, 2012, the National Copyright Administration issued a notice on the second draft of revised Copyright Law of People’s Republic of China for public opinions (the “Notice”). According to the Notice, since the issuance amendment draft of Copyright Law on 31st of March, 2012, lots of opinions and advices have been proposed by the public, based on which the National Copyright Administration revised and promoted the amendment draft. Additionally, a brief description was issued together with the amendment draft, according such brief description, the revised contents covers the content of copyright, the right of audio-visual performers, performer and recording producer’s right to receive remuneration based on the broadcast of recording production and performance, statutory license, fair use and other aspects. The deadline for the second draft for public opinions is 31st of July, 2012.
(From the website of National Administration of Copyright)
VII. Thirteen Departments including the National Development and Reform Commission has Jointly Issued the Implementation Opinions on Encouraging and Guiding Private Enterprises to Positively Develop Overseas Investment (the” Implementation Opinions”)
Recently the 13 departments including National Development and Reform Commission and the Ministry of Commerce jointly issued the Implementation Opinions, from the perspective of strengthening macro-guidance, developing policy support, simplifying and regulating management , doing well with service protection and overseas personnel and assets safety, encourage to develop policy support for private enterprises’ overseas investments, simplify , regulate management and do well with service protection, and cover 18 opinions including development of finance and taxation policies, financial insurance support, reform of custom mechanism, administration policy of foreign exchange. However, there are comments stating the Implementation Opinions mainly show the policy direction and are with less operability, moreover the complicated procedures for examination and approval of private enterprises’ overseas investment and difficulties in financing haven’t been resolved substantially.
(From the website of the National Development and Reform Commission)
XIII. Meeting Held in Beijing to Ask for Advices for Amendment of Patent Law
The State Intellectual Property Offices (the “SIPO”) has held a meeting to ask for advices for amendment of Patent Law (the “Meeting”) in recent. The Representatives of the Education, Science, Culture and Public Health Committee, Law Committee of National People’s Congress, Legal Affairs Office of State Council, local Intellectual Property Offices, colleges and universities, enterprises and patent agents have attended in this Meeting and many opinions have been put forward. The SIPO has begun to prepare amendments of Patent Law since the end of 2011 and the amendments focus on “to strength patent protection and to intensify enforcement”. It is reported the amendment of Patent Law has been included in the 2011 Plan of legislative work of the State Council.
(From the website of the State Council)
IX. Shanghai Municipality is going to Launch Carbon Emission Trading Pilot.
At the beginning of this year, the National Development and Reform Commission announced to launch carbon emission trading pilot in Shanghai, Beijing, Tianjin and other provinces. Recently it is reported by media, possibly the carbon emission trading pilot will be officially launched firstly in Shanghai and Beijing in 2012. Also there’s news saying according to the preliminary plan of Shanghai Municipality, there are about 200 pilot enterprises covering 16 businesses including 10 industries such as steel, petrol, colored and electric power as well as 6 non-industrial businesses such as aviation, port, airport and hotel, which mostly emits greenhouse gap. Reportedly, free initial quota of carbon emission is possibly to be granted.
(From Comprehensive Reports)
This post is quoted from DeBund Newsletter of August.
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