Legislation roundup: Shanghai FTZ, articles of association and accounting firms
April 18, 2019 | BY
Susan MokShanghai FTZ allows an increase in plot ratio of land, guidelines on articles of association are revised to accommodate special voting rights and foreign accounting firms are required to make filings for auditing of bond offerings.
Free Trade Zones
Shanghai Municipality, Plan for Thoroughly Implementing the <Several Measures for Supporting Intensified Reform and Innovation in Pilot Free Trade Zones>
The pilot project for the reform of general purpose land in the bonded zone of the Shanghai Pilot Free Trade Zone is expanded to the whole Zone. Subject to zoning requirements, the plot ratio of land in the Zone may be suitably increased in line with functional requirements, and one lot of land or one building is permitted to accommodate multiple functions.
See the digest for more details.
Further reading
Corporate Governance
China Securities Regulatory Commission, Guidelines for the Articles of Association of Listed Companies (Revised in 2019)
The current revision mainly revolves around regulating the articles of association of listed companies that have special voting rights, implementing the new provisions of the Company Law on share buybacks by listed companies and the requirements for further improving the governance of listed companies.
See the digest for more details.
Further reading
Accounting
Ministry of Finance, Tentative for Filings in Connection with the Engagement by Foreign Accounting Firms in the Auditing of Financial Reports Relating to the Offering of Bonds on the National Interbank Bond Market by Foreign Institutions
A foreign accounting firm that engages in the auditing of the financial reports relating to the offering of bonds on the national interbank bond market by a foreign institution shall carry out its first filing with the Ministry of Finance no later than 20 working days before the foreign institution submits its bond offering application.
See the digest for more details.
Further reading
|
This premium content is reserved for
China Law & Practice Subscribers.
A Premium Subscription Provides:
- A database of over 3,000 essential documents including key PRC legislation translated into English
- A choice of newsletters to alert you to changes affecting your business including sector specific updates
- Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
Already a subscriber? Log In Now