Legislation roundup: Collective land, oil and gas, and financial institutions

(1)        land determined by the land space plan as being for for-profit purposes such as industry and commerce;

(2)        land the title to which is clear and for which land ownership registration has been carried out in accordance with the law; and

(3)        land that satisfies the basic conditions required for development and construction, such as accompanying infrastructure.

See the digest for more details.

Further reading

Changing the Collectively-Owned Construction Landscape

Lifting FDI restrictions on real estate… slowly

State Council, Official Reply on Several Measures to Support the Open Development of the Entire Oil and Gas Industry Chain in the China (Zhejiang) Pilot Free Trade Zone

国务院关于支持中国（浙江）自由贸易试验区油气全产业链开放发展若干措施的批复

The Official Reply supports cooperation between the Free Trade Zone (FTZ) and domestic futures and spot trading platforms, such as the Shanghai Futures Exchange, in jointly developing spot commodities trading markets that mainly concentrate on oil products.

It also suggests the construction of an international energy trade and transaction platform to promote the accelerated development of international oil and gas trading in the FTZ and develop a natural gas trading platform to establish an influential presence in international LNG trading.

See the digest for more details.

Further reading

General Plan for the China (Zhejiang) Pilot Free Trade Zone

Opinions on Several Matters Concerning Promotion of the Reform of the Management of Mineral Resources (Trial Implementation)

Banking

China Banking and Insurance Regulatory Commission, Implementing Measures on Administrative Permission Matters of Non-Bank Financial Institutions

中国银行保险监督管理委员会非银行金融机构行政许可事项实施办法

In terms of relaxation, the revised Measures abolish the examination and approval for the first holding or aggregate incremental holding of less than 5% of the equity of a non-bank institution by a shareholder thereof.

However, restrictions are also imposed concerning shareholder equity. An investor and its controlling shareholder, de facto controller, majority-owned subsidiaries, persons acting in concert and other enterprises controlled or jointly controlled by the de facto controller that serve as a major shareholder may not in principle acquire an equity interest in more than two non-bank institutions, and may not have a controlling interest in more than one or an equity interest in more than two of the same type of non-bank institution(s).

See the digest for more details.

Further reading

China's Financial Sector Opens Its Door Wider to Foreign Investors

Guiding Opinions on Promoting the Quality Development of the Banking and Insurance Industries