Legislation roundup: IPO deregulation, Patent Law and e-commerce

December 10, 2015 | BY

Katherine Jo

A registration system will replace approvals for Shanghai and Shenzhen listings in two years, a draft Patent Law has increased penalties for infringement and the SAIC has stressed the liability of e-commerce platforms for consumer compensation

Capital Markets

NPC Standing Committee, Decision on Authorizing the State Council to Revise the Application of Relevant Provisions of the <PRC Securities Law> in the Course of Implementing the Reform of the Share Offering Registration System (Draft)

全国人大常委会关于授权国务院在实施股票发行注册制改革中调整适用<中华人民共和国证券法>有关规定的决定（草案）

The Draft specifies that, within two years from the date of implementation of the Decision, authorization will be given to implement a registration system for public offerings of shares that are to be listed and traded on the Shanghai and Shenzhen Stock Exchanges.

Further reading

PRC Securities Law (Revised in 2014)

Opinions on Further Promoting the Reform of the System for Offering of New Shares

Measures for Strengthening the Regulation of Offerings of New Shares

IPO reform not going as planned

Why the IPO reforms don't go far enough

Legislative Office of the State Council, Draft Amendments to the <PRC Patent Law> (Draft Sent for Review)

国务院法制办公室中华人民共和国专利法修订草案 (送审稿)

The Draft intensifies penalties for infringement. According to the Draft, in the event of willful infringement of a patent, the people's court may award the rights holder compensation of up to Rmb5 million.

Further reading

PRC Patent Law (3rd Revision)

Patent Law improves again

Influence of the new Patent Law on design application and protection

Prior art defence in Third Amendment to China's Patent Law

Implementing Rules for the PRC Patent Law (2nd Revision)

Retail and Wholesaling

State Administration for Industry and Commerce, Opinions on Strengthening and Regulating Random Inspections of the Quality of Goods Traded Online

国家工商行政管理局关于加强和规范网络交易商品质量抽查检验的意见

Where a third party trading platform operator fails, upon demand by a consumer for compensation due to a quality issue with a good, to provide the true name, address and valid contact information of the online merchant, it shall be liable for compensation.

Further reading

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

Consumer protection laws extend royal treatment to Chinese shoppers

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