Legislation roundup: Foreign exchange and anti-monopoly
June 16, 2016 | BY
Katherine Jo &clp articles &SAFE has clarified a foreign debt FX conversion method, the State Council's AML commission has set criteria for monopoly agreement exemptions and fair market competition has been protected
Foreign Exchange
State Administration of Foreign Exchange, Circular on Reforming and Regulating the Policy for the Control of the Conversion of Foreign Exchange on the Capital Account
Procedures for the conversion of the foreign debt proceeds of enterprises in China (including both Chinese-invested enterprises and foreign-invested enterprises, but excluding financial institutions) may be carried out by the discretionary conversion method.
See the full translation.
Further reading
Competition
Anti-monopoly Commission of the State Council, Guidelines on the General Conditions and Procedures for the Exemption of Monopolistic Agreements (Draft for Comments)
When an anti-monopoly law enforcement authority examines whether an agreement is eligible for an exemption, it shall mainly take into consideration the following factors:
(1) the specific form and effect of the realization by the agreement of the circumstances for exemption set forth in Items (1) to (6) of the first paragraph of Article 15 of the Anti-monopoly Law;
(2) the causal relationship between the agreement and the realization of the circumstance in question; and
(3) the importance of the agreement in realizing the circumstance in question.
See the digest for more details.
Further reading
State Council, Opinions on the Establishment of a Fair Competition Review System in the Course of the Creation of the Market System
Administrative authorities that formulate market access, industry development, investment, bid invitation and submission, government procurement and other such rules, regulations, regulatory documents and other policy measures that have a bearing on the economic activities of market entities shall conduct fair competition reviews.
See the digest for more details.
Further reading
Foreign Exchange
State Administration of Foreign Exchange, Circular on Reforming and Regulating the Policy for the Control of the Conversion of Foreign Exchange on the Capital Account
Procedures for the conversion of the foreign debt proceeds of enterprises in China (including both Chinese-invested enterprises and foreign-invested enterprises, but excluding financial institutions) may be carried out by the discretionary conversion method.
See the full translation.
Further reading
Competition
Anti-monopoly Commission of the State Council, Guidelines on the General Conditions and Procedures for the Exemption of Monopolistic Agreements (Draft for Comments)
When an anti-monopoly law enforcement authority examines whether an agreement is eligible for an exemption, it shall mainly take into consideration the following factors:
(1) the specific form and effect of the realization by the agreement of the circumstances for exemption set forth in Items (1) to (6) of the first paragraph of Article 15 of the Anti-monopoly Law;
(2) the causal relationship between the agreement and the realization of the circumstance in question; and
(3) the importance of the agreement in realizing the circumstance in question.
See the digest for more details.
Further reading
State Council, Opinions on the Establishment of a Fair Competition Review System in the Course of the Creation of the Market System
Administrative authorities that formulate market access, industry development, investment, bid invitation and submission, government procurement and other such rules, regulations, regulatory documents and other policy measures that have a bearing on the economic activities of market entities shall conduct fair competition reviews.
See the digest for more details.
Further reading
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