Legislation roundup: Securities fund management, Taiwan investments and electronic bidding
February 22, 2013 | BY
clpstaff &clp articles &The China Securities Regulatory Commission issued Tentative Provisions for securities investment fund management, while the Ministry of Commerce published Tentative Provisions over indirect investment from Taiwanese investors
Capital markets
China Securities Regulatory Commission, Tentative Provisions for the Engagement in the Public Securities Investment Fund Management Business by Asset Management Firms
Private equity firms are required to have paid capital of at least Rmb10 million and have managed securities assets of at least Rmb2 billion on average each year in the past three years in order to be eligible to engage in publicly offered securities investment fund management. As for securities firms and insurance asset management companies, their asset management scale should be at least Rmb20 billion.
See the full translation.
Further reading
Private funds finally given regulatory system, Mar/Apr 2013
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Taiwan
Ministry of Commerce and Taiwan Affairs Office of the State Council, Tentative Measures for the Recognition of Onward Investments by Taiwanese Investors Through a Third Place
If a Taiwanese investor sets up an enterprise in the mainland through its directly or indirectly owned (more than 50% of shareholding) or controlled company in a third country or place, it may apply to have its company recognised as a Taiwanese investor.
See the full translation.
Further reading
Interview - facilitating cross-strait investments, Jan/Feb 2013
CLP Taiwan Focus, Jan/Feb 2013
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Bidding
National Development and Reform Commission and Seven Other Ministries, Measures for the Electronic Invitation for and Submission of Bids
China's first electronic bidding measures set forth the bid invitation and submission procedures through a secured trading platform. When bids are opened at the time specified in the bid invitation document, online decryption should be carried out by the bid inviting and submitting parties. After all the decryption procedures are finished, names of the bidders, the bidding prices and other information as required should be disclosed to all the bidders.
See the full translation.
Further reading
PRC Law on the Invitation for and Submission of Bids, Oct 1999
More clarity needed, Mar 2012
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