Company News

China’s Ministry of Industry and Information Technology (MIIT) released the “Circular on Declaration of Announcement of Rare Earth Enterprises Access (guoxinyuanhan [2012] No.211, hereinafter referred to as ‘Circular’)” on August 24.

The “Decision of the Standing Committee of National People’s Congress (NPC) on Revision of the Civil Procedure Law ” has been adopted by vote (140-2-1) at the 28th Session of the 11th NPC Standing Committee, according to an official statement read at the press conference held by the General Office of the NPC Standing Committee on August 31. Highlights of the revised Civil Procedure Law (hereinafter referred to as the ‘Revised Law’) can be found below.

China’s State Administration of Taxation (SAT) released the “Announcement of the SAT on Issues Related to the Tax Collection under the Value-Added Tax (VAT) to Business Tax (BT) Pilot Conversion in Beijing and Seven Other Provinces and Cities in China (Announcement [2012] No.42, hereinafter referred to as the ‘Announcement’),” on August 24, aiming to guarantee the smooth implementation of pilot projects.

China’s Ministry of Industry and Information Technology (MIIT) released the “Circular of the Ministry of Industry and Information Technology on Carrying out the Program of Cultivating the Intellectual Property Rights Utilization Capability of Industrial Enterprises (gongxinkebu [2012] No.391, hereinafter referred to as ‘Circular’) on August 27.

The China Securities Regulatory Commission (CSRC) released a circular on August 24, 2012 seeking comments for amending two laws related to securities company establishment. They are the “Rules on the Establishment of Foreign-Invested Securities Companies (CSRC Order No. 52, hereinafter referred to as the ‘Rules’)” and the “Trial Regulations for the Establishment of Subsidiaries by Securities Companies (Zheng Jian Ji Gou Zi [2007] No. 345, hereinafter referred to as the ‘Trial Regulations’)”. All relevant comments must be submitted by September 22, 2012.

Jiangsu’s Provincial Office of the State Administration of Taxation recently released an announcement clarifying issues regarding general taxpayer recognition under the value-added tax (VAT) pilot program in Jiangsu Province.

China’s State Food and Drug Administration (SFDA) released the “Administrative Measures for the Inspection of Overseas Drug Manufacturers (Draft for Comments) (hereinafter referred to as ‘Draft’)” on August 20, and is now seeking public comments. All the comments should be submitted by October 8, 2012.

China’s State Council released the “Circular of the State Council on the Printing and Distribution of the 12th Five-Year Plan for Energy Saving and Emission Reduction (guofa [2012] No.40, hereinafter referred to as ‘Circular’)” on August 8, 2012, aiming to transform the mode of economic development, establish an energy-saving and environmentally-friendly society, and strengthen the capacity of sustainable development.

The Standing Committee of the Fifth People’s Congress of Shenzhen Municipality passed the “Regulation of Shenzhen Special Economic Zone on the Promotion of Gender Equity (Announcement [2012] No.89, hereinafter referred to as ‘Regulation’)” on June 28, 2012, effective as of January 1, 2013. The law is the first of its kind in Mainland China to ensure gender equality.

China’s State Administration of Taxation released an announcement clarifying issues regarding general taxpayer recognition under the Value-added Tax (VAT) pilot program in Beijing and seven other provinces and cities in China.