Legislation roundup: Free Trade Zones and food safety
December 17, 2015 | BY
Katherine JoThe PBOC will expand the use of renminbi in the FTZs and the SFDA has specified serious violations in its draft implementing rules of the Food Safety Law
Free Trade Zones
People's Bank of China, Guiding Opinions on Financial Support for Development of the China (Guangdong) Pilot Free Trade Zone
Engagement in offshore investment such as direct investment, securities investment and pooled investment in renminbi by individuals in the Zone and the handling of asset transfer matters relating to emigration, donations, bequests and estates will be considered.
People's Bank of China Guiding Opinions on Financial Support for Development of the China (Tianjin) Pilot Free Trade Zone
The foreign borrowing of renminbi funds by financial institutions and enterprises in the Zone in line with macroeconomic and prudential principles is supported. Banking financial institutions in the Zone may make short-term cross-border interbank renminbi loans in accordance with provisions.
Further reading
Food Safety
State Food and Drug Administration, Implementing Regulations for the PRC Food Safety Law (Draft Amendments for Comments)
The scope of business of an online food producer or dealer shall be consistent with the permitted scope of its physical dealings. The Draft expressly sets out the specific circumstances of what constitutes “serious circumstances” of a food safety violation.
Further reading
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