Legislation roundup: PRC Advertising Law, insurance proceeds investments and FIE approval

Advertising

Legislative Affairs Office of the State Council, PRC Advertising Law (Draft Amendments) (Draft for Comments)
国务院法制办公室中华人民共和国广告法 (修订草案) (征求意见稿)

The Draft proposes banning pharmaceutical, medical, medical instrument, online game and alcoholic beverage advertisements/commercials from mass media aimed at minors. No organisations or individuals may send advertising to a concerned party's landline telephone, mobile telephone or personal e-mail address without his/her consent or request, or if such party has expressly indicated his/her refusal.

See the digest for more details.

Further reading
Provisions for the Review of Advertisements Published in Mass Media
PRC Advertising Law


Insurance

China Insurance Regulatory Commission, Circular on Strengthening and Improving the Oversight of the Percentages for the Application of Insurance Proceeds
中国保险监督管理委员会关于加强和改进保险资金运用比例监管的通知

The regulatory percentages of the book balance of insurance proceeds invested in equity-type assets, immovable property assets, other financial assets and offshore investments may not account for more than 30%, 30%, 25% and 15% respectively of the quarter-end total assets of the insurance company. No regulatory percentage limits are imposed on investments in liquid assets and fixed-return assets.

See the digest for more details.

Further reading
Tentative Measures for the Administration of the Application of Insurance Capital
Tentative Measures for Equity Investment with Insurance Capital


Administrative approval

State Council, Decision on the Abolition and Delegation to Lower Level Authorities of a Group of Items Subject to Administrative Examination and Approval and Other Such Matters
国务院关于取消和下放一批行政审批项目等事项的决定

Examination and approval matters involving the establishment of corporate entities, production permits, scope of business and disposal of capital and assets account for more than one half of the total quantity of abolitions and delegations according to this current decision. Secondly, the extent of benefits has been further enlarged. For example, record filing/check and approval for permits to engage in the provision of basic telecommunications and cross-regional value-added telecommunications services are abolished.

See the digest for more details.

Further reading
Decision on the Abolition and Delegation to Lower Level Authorities of a Group of Items Subject to Administrative Examination and Approval and Other Such Matters, 2013