It may be easier for foreign banks to set up branches in China, private fund management business is put under greater scrutiny and insurance companies are given more flexibility in equity investment.
JAMS has recently announced a collaboration with the Shenzhen Court of International Arbitration and the Shanghai Commercial Mediation Center; China may introduce legislation to establish a national IP court within the SPC; and China passes new laws to facilitate international judicial assistance.
Law drafts are issued to clarify on residency requirements and special expense deductions concerning individual income tax, and internet financing institutions are required to guard against anti-money laundering and anti-terrorist financing
China recently established a trademark office in Shanghai as a platform for local companies to safeguard their brands against foreign imitation; China International Import Expo, gathering 2,800 enterprises from 130 regions to set up a dispute tribunal within venue; and the SPC is on track with the government's campaign to eradicate gangsters and organized crimes.
The United Nations Conference on Trade and Development announced that China has topped the global foreign direct investment list in H1; CPC stresses on the implementation of advancing law-based governance in all areas; and NPC will revise and draft new laws in a session to be held between October 22 to 26.
Institutional investors are encouraged to participate in corporate governance, business premises may be inspected for cybersecurity purposes and Beijing Municipality prohibits construction of new residential housing
China lowers import tariffs on MFN taxable items; Hainan province launches a blockchain research center in collaboration with the University College Oxford; and the State Council raises export tax rebate rate to stimulate trade.
The scope of tax deferral is expanded for foreign investors, offering of bonds by foreign institutions requires approval and foreign programs may not be broadcast in prime time.
China released a White Paper defending its position in the U.S.-China trade friction, which aimed to clarify facts on the bilateral economic and trade relations; Draft Atomic Energy Law aims to strengthen and promote Chinese nuclear firms in the international market.
