China Laws and Regulations Update in September 2014

1.The PRC State Administration of Foreign Exchange releases the Notice on the Pilot Reform of the Administrative Approach Regarding the Settlement of the Foreign Exchange Capitals of Foreign-Invested Enterprises in Certain Areas

On 4 August 2014, the PRC State Administration of Foreign Exchange released the Notice on the Pilot Reform of the Administrative Approach Regarding the Settlement of the Foreign Exchange Capitals of Foreign-Invested Enterprises in Certain Areas to launch the pilot reform of the settlement of the foreign exchange capitals of foreign invested enterprises on a discretionary basis in 16 areas throughout the P.R.China, including the Suzhou Industrial Park, on 4 August 2014, after such reform was first launched in the Shanghai Free Trade Zone.

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China Laws and Regulations Update in February 2014

  1. Seven laws, including the Company Law, the Customs Law, etc. Are Amended

On 28 December 2013 the Standing Committee of the National People’s Congress adopted the Decisions on Amending Seven Laws of the People’s Republic of China, including the Marine Environment Protection Law, the Drug Control Law, the Metrology Law, the Fisheries Law, the Customs Law, the Law on Tobacco Monopoly and the Company Law.

The amendments to the Marine Environment Protection Law, the Drug Control Law, the Metrology Law, the Fisheries Law, the Customs Law, and the Law on Tobacco Monopoly entered into force upon promulgation and the amendments to the Company Law will be effective as of 1 March 2014.

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China’s Latest Laws and regulations in October 2013, Part II

7. Circular by the General Office of the CPC Central Committee and the General Office of the State Council on Cessation of New Construction of Buildings, Halls and Chambers and Clearing Up Housing for Office Use of Party and Governmental Offices

 

Promulgated on July 23, 2013 by the General Office of the CPC Central Committee and the General Office of the State Council, the Circular on Cessation of New Construction of Buildings, Halls and Chambers and Clearing Up Housing for Office Use of Party and Governmental Offices was created in order to ensure the cessation in every aspect of the new construction of buildings, halls and chambers, and to regulate the management of housing for office use.

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China’s Latest Laws and Regulations in December (II), 2012

V. The Ministry of Finance Issued Interpretation Number Five on Accounting Standards for Business Enterprises 

Recently, the Ministry of Finance issued Interpretation Number Five on Accounting Standards for Business Enterprises, which provides interpretations on fives issues, including: business mergers, business launches, credit risk mitigation tools and related services, and how to process accounting step by step in cases where an enterprises invests equity in its subsidiary and ultimately loses its right of control through several transactions.

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New Chinese Laws & Regulations of April, 2012 (1)

I.                 The Supreme People’s Court Continuously Issued  “Ten Major Cases” and “ Fifty Typical Cases” of 2011 Chinese Courts’ Intellectual Property Right Judicial Protection (the “2011 Ten Major Cases and Fifty Typical Cases”), 2011 Intellectual Property Right Judicial Protection Status of Chinese Courts (White Paper) ( the “2011 White Paper”) and 2011 Supreme People’s Court’s Annual Report of Intellectual Property Right Cases (the “2011 Annual Report”).

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