Legislation roundup: FDI, banks, R&D tax and Shanghai housing

FDI 国家发展和改革委员会、商务部自由贸易试验区外商投资准入特别管理措施 (负面清单) (2018年版)

1. It abolishes the restriction that limits the smelting and separation of rare earths to equity and cooperative joint ventures.
2. It abolishes the requirement that the Chinese party have a controlling interest in the construction and operation of power grids.
3. It abolishes the restrictions that a single foreign investor may not hold more than 20% of the shares in a Chinese bank and that the total shareholdings of the foreign investors may not exceed 25%.

Further reading Special Administrative Measures for Foreign Investment Access in Pilot Free Trade Zones (Negative List) (2017 Edition) The new and improved Negative List for China's free trade zones Banking and Finance 中国银行保险监督管理委员会金融资产投资公司管理办法 (试行) Further reading State Council, Guiding Opinions for the Market-oriented Conversion of Bank Claims to Equity A Systemic Fix for Financial Risks Tax 财政部、国家税务总局、科技部关于企业委托境外研究开发费用税前加计扣除有关政策问题的通知 Further reading Announcement on Issues Relevant to the Scopes of Pre-tax Super-deduction of Research and Development Expenses Circular on Improving the Policy of Pre-tax Super-deduction of Research and Development Expenses Announcement on Issues Relevant to the Policy of the Pre-tax Super-deduction of the Research and Development Expenses of Enterprises Real Estate 上海市关于规范企业购买商品住房的暂行规定 Further reading The Property Puzzle Shanghai Municipality, Implementing Opinions on Further Optimizing the Land and Housing Supply Structure in Shanghai