Legislation roundup: CIETAC Arbitration Rules, SH-HK Stock Connect

Arbitration

China International Economic and Trade Arbitration Commission, Arbitration Rules (2015)
中国国际经济贸易仲裁委员会仲裁规则 (2015版)

The amendments to the Rules add a part entitled Special Provisions for Arbitration in Hong Kong, which specifies that the place of arbitration of cases managed by the Commission's Hong Kong arbitration centre is Hong Kong, the arbitration procedure is governed by Hong Kong arbitration law and the arbitration award is a Hong Kong award, unless otherwise provided by the parties; and that the parties have the option of selecting arbitrators that do not appear on CIETAC's directory of arbitrators. Before the constitution of a tribunal, a party may apply for emergency interim relief pursuant to the China International Economic and Trade Arbitration Commission, Emergency Arbitrator Procedure.

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Further reading
CIETAC raises its game
Enforcing arbitral awards: a guide
Enhancing enforcement
China question: How do I draft an arbitration clause?
Interview: Building CIETAC's global role
HKIAC CIETAC session – Tips for arbitrating in the mainland


Shanghai-Hong Kong Stock Connect

Ministry of Finance, State Administration of Taxation and China Securities Regulatory Commission, Circular on the Issue of Provisionally Exempting the Proceeds Derived in China by QFIIs and RQFIIs from the Transfer of Stocks and Other Such Equity Investment Assets from Enterprise Income Tax
财政部、国家税务总局、中国证券监督管理委员会关于QFII和RQFII取得中国境内的股票等权益性投资资产转让所得暂免征收企业所得税问题的通知

The proceeds derived in China by qualified foreign institutional investors (QFIIs) and renminbi qualified foreign institutional investor (RQFIIs) from the transfer of stocks and other such equity investment assets shall, from November 17 2014, provisionally be exempt from enterprise income tax.

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Ministry of Finance, State Administration of Taxation and China Securities Regulatory Commission, Circular on Tax Policies Relevant to the Pilot Project for the Mechanisms to Provide Mutual Trading Access Between the Shanghai and Hong Kong Stock Markets
财政部、国家税务总局、中国证券监督管理委员会关于沪港股票市场交易互联互通机制试点有关税收政策的通知

The income derived from the price differential when investors from the mainland transfer stocks listed on the Hong Kong Exchanges and Clearing Limited that they invested in through the Shanghai-Hong Kong Stock Connect shall be subject to enterprise income tax but provisionally be exempt from individual income tax.

The income derived from the price differential when Hong Kong market investors (both corporate and individual) transfer A shares listed on the Shanghai Stock Exchange that they invested in shall provisionally be exempt from income tax.

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Further reading
Shanghai-Hong Kong Stock Connect begins, exempts taxes for now
PRC Securities Law (Revised in 2014)