Legislation roundup: Interbank bond market, social insurance and tax incentives
May 12, 2016 | BY
Katherine Jo &clp articles &The PBOC has further opened the interbank bond market to QFIIs, the Shanghai government released implementing rules for reducing enterprises' insurance premiums and tax break approval requirements for circuit and software companies were cancelled
Capital Markets
People's Bank of China, Announcement [2016] No.8
The PBOC Announcement further opens the interbank bond market to qualified foreign institutional investors to include trust companies, finance companies of enterprise groups, futures companies, securities investment funds, bank wealth management products, trust plans, insurance products, private equity funds, housing reserves, social security funds and enterprise annuities.
See the full translation.
Further reading
Shanghai
Shanghai Municipality, Implementing Opinions on Carrying out Supply-side Structural Reforms to Promote Stable Industrial Growth, Adjust the Structure and Promote Transformation
Shanghai is reducing enterprise costs by lowering the rate of employee social insurance premiums paid by enterprises this year by 2.5%, which is projected to result in a reduction of the burden on enterprises of approximately Rmb13.5 billion for the whole year.
Further reading
Tax
Ministry of Finance, State Administration of Taxation, National Development and Reform Commission and Ministry of Industry and Information Technology, Circular on Issues Relevant to the Enterprise Income Tax Incentive Polices for the Software and Integrated Circuit Industries
The examination and approval requirement for the tax incentive eligibility recognition of integrated circuit production enterprises, integrated circuit design enterprises and software enterprises is removed.
Further reading
Capital Markets
People's Bank of China, Announcement [2016] No.8
The PBOC Announcement further opens the interbank bond market to qualified foreign institutional investors to include trust companies, finance companies of enterprise groups, futures companies, securities investment funds, bank wealth management products, trust plans, insurance products, private equity funds, housing reserves, social security funds and enterprise annuities.
See the full translation.
Further reading
Shanghai
Shanghai Municipality, Implementing Opinions on Carrying out Supply-side Structural Reforms to Promote Stable Industrial Growth, Adjust the Structure and Promote Transformation
Shanghai is reducing enterprise costs by lowering the rate of employee social insurance premiums paid by enterprises this year by 2.5%, which is projected to result in a reduction of the burden on enterprises of approximately Rmb13.5 billion for the whole year.
Further reading
Tax
Ministry of Finance, State Administration of Taxation, National Development and Reform Commission and Ministry of Industry and Information Technology, Circular on Issues Relevant to the Enterprise Income Tax Incentive Polices for the Software and Integrated Circuit Industries
The examination and approval requirement for the tax incentive eligibility recognition of integrated circuit production enterprises, integrated circuit design enterprises and software enterprises is removed.
Further reading
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