China Law News

The down payment for first-time housing loans has been lowered, the Shanghai FTZ has allowed interbank deposit certificates in foreign currency and the State Council have put bonded zones under customs watch

This week US drugmaker Bristol-Myers Squibb paid the SEC to settle China bribery charges, Xiaomi faced accusations of violating the new Advertising Law and Tsinghua Unigroup paid $3.8 billion for Western Digital shares

The SAT's new draft reflects its alignment with the BEPS Action Plan, the State Council has lowered minimum capital requirements for infrastructure projects and market access for foreign investors in real estate has been increased

This week China pledged to sustain its pro-investment reforms, Apple mobile apps were infected with malware and MOFCOM predicted outbound direct investment will exceed US$1 trillion for the first time this year

The CPC and State Council have promoted more private investment in commercial SOEs, and the CIRC has permitted insurance companies to establish PE funds and invest in asset-backed plans

This week Apple's China unit was reported to have underpaid its 2013 taxes, Nissan's China JV was fined for AML violations in Guangdong and President Xi confirmed SOEs will continue to play a key role in the economy

The PBOC has further regulated FX sales, listed companies have been encouraged to increase profit distributions and the minimum down payment for housing has been reduced

MOFCOM approved AB InBev's increased shareholding in Pearl River Beer, the work safety department head was sacked for corruption, e-commerce eyed growth opportunities away from cities and COFCO Coca-Cola opened a factory

The NPC has passed the amended PRC Criminal Law, R&D in science and technology has been encouraged and the investment scope of old-age insurance funds has been clarified