Legislation roundup: Insurance fund, foreign shipping companies and culture in the FTZs
July 31, 2015 | BY
clpstaff &clp articles &The China Insurance Investment Fund has been established, shipping WFOEs will be approved by the local commerce regulators and the FTZs have opened the culture and entertainment sector to foreign investment
Insurance
State Council, Official Reply on the Plan for the Establishment of the China Insurance Investment Fund
国务院关于中国保险投资基金设立方案的批复
The total size of the Fund will be approximately Rmb300 billion. The Fund's investments will mainly be made in strategic projects such as “One Belt, One Road”, the Collaborative Development of Beijing, Tianjin and Hebei Province and the Yangtze River Economic Zone.
Further reading
PRC Insurance Law (Revised in 2015)
Provisions for the Administration of Insurance Companies
Shipping
Ministry of Transport and Ministry of Commerce, Measures for the Administration of the Examination and Approval of Wholly Foreign-owned Shipping Companies
交通运输部、商务部外商独资船务公司审批管理办法 (修正)
The revised Measures delegates the authority to approve the establishment of wholly foreign-owned shipping companies to provincial-level department in charge of commerce.
Further reading
PRC Wholly Foreign-owned Enterprise Law (Revised)
Implementing Rules for the PRC Wholly Foreign-owned Enterprise Law (Revised)
Cultural Sector
Ministry of Culture, Circular on Implementing the Policies for the Administration of the Culture Markets in the China (Guangdong) Pilot Free Trade Zone, the China (Tianjin) Pilot Free Trade Zone and the China (Fujian) Pilot Free Trade Zone
文化部关于实施中国(广东)自由贸易试验区、中国(天津)自由贸易试验区、中国(福建)自由贸易试验区文化市场管理政策的通知
The establishment in the FTZs of Sino-foreign equity or cooperative joint venture and foreign wholly-owned performance brokerages, performance venue operating entities and entertainment venues will be permitted.
Further reading
Special Administrative Measures for Foreign Investment Access in Pilot Free Trade Zones (Negative List)
China question: What are the benefits and risks of investing in a Free Trade Zone?
General Plan for the China (Shanghai) Pilot Free Trade Zone
Shanghai Municipality, Special Administrative Measures for Foreign Investment Access in the China (Shanghai) Pilot Free Trade Zone (Negative List) (Revised in 2014)
A window into the future
Not so free zone?
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