Legislation roundup: Unlisted company regulations, CEPA supplement and foreign investment projects
October 18, 2012 | BY
clpstaff &clp articles &The Ministry of Commerce has delegated certain foreign investment projects to provincial-level governments, while the CSRC has issued Measures regulating unlisted public companies.
Foreign investment
State Council, Decision on the Sixth Batch of Items in Respect of Which the Administrative Examination and Approval are Abolished or Revised
The Ministry of Commerce has delegated the examination and approval authority of the establishment and changes to the following foreign investment projects to administrative departments in charge of commerce of provincial-level people's governments:
1. foreign-invested road passenger transportation enterprises;
2. foreign-invested urban planning services enterprises;
3. Sino-foreign equity and cooperative joint medical institutions;
4. foreign-invested books, newspapers and periodicals distribution enterprises; and
5. foreign-invested insurance brokerages.
See the digest for more details.
Further reading:
PRC Regulations for the Administration of Foreign-funded Insurance Companies
Private capital/Venture capital
China Securities Regulatory Commission, Measures for the Regulation of Unlisted Public Companies
The Measures put under regulation privately traded companies limited by shares with more than 200 shareholders and companies limited by shares offering shares on over-the-counter markets. The lock-up period of the shares acquired from such public companies shall be 12 months.
See the digest for more details.
Further reading:
Hong Kong and Macao
Ministry of Culture, Circular on Matters Relevant to the Implementation of the Supplement IX to the «Mainland and Hong Kong Closer Economic Partnership Arrangement» and the Supplement IX to the «Mainland and Macao Closer Economic Partnership Arrangement»
Hong Kong and Macao investors will be allowed to establish wholly-owned internet cafes and equity joint performance groups with controlling shares from January 1 2013.
See the digest for more details.
Further reading:
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