Legislation roundup: Commercial banking law, Internet+ and price frauds

Banking

Bill for Amendments to the PRC Law on Commercial Banks (Draft)
中华人民共和国商业银行法修正案 (草案)

The bill removes the provision requiring that the loan balance not exceed 75% of the deposit balance, and changes the loan-to-deposit ratio from a statutory regulatory indicator to a liquidity monitoring indicator.

See the digest for more details.

Further reading
PRC Regulations for the Administration of Foreign-invested Banks (2nd Revision)
Lifting bans on foreign banks

TMT

State Council, Guiding Opinions for “Internet+” Actions
国务院“互联网+”行动指导意见

The Opinions specify the promotion of “Internet+” to promote certain key sector development missions, such as entrepreneurship, innovation, modern agriculture, smart energy, efficient logistics, e-commerce, green ecology and artificial intelligence that can give rise to new industry models.

Further reading
Kering v Alibaba sounds the alarm on China's online counterfeits
Opinions on Improving the Systems of First Approach and Advance Compensation Payment of Business Operators of the Consumption Stage to Duly Protect the Lawful Rights and Interests of Consumers

Pricing

National Development and Reform Commission, Circular on the Interpretation of Relevant Provisions of the
国家发展改革委员会关于《禁止价格欺诈行为的规定》有关条款解释的通知

Where a third party online trading platform indicates on the home page of, or other prominent location on, its website that the price of the goods sold by a certain online goods dealer is lower than the price indicated on the page providing the details of said dealer's goods, the third party online trading platform shall be found to be the entity that a committed price fraud.

Further reading
PRC Pricing Law
PRC Law on the Protection of the Rights and Interests of Consumers (2nd Revision)