November 10, 2008
Shanghai Stock Exchange issues guidelines on disclosure of increase in shareholding.
Approval procedures for commercial FIEs streamlined.
Procedural obstacle cleared for increase of shareholding through Shanghai Stock Exchange.
Exchangeable bonds issued to solve problems of unloading non-tradable shares.
Affiliated transactions of insurance FIEs defined.
Government relaxes foreign investment in advertising enterprises.
MOFCOM delegates its FIE approval power to lower level departments.
The Circular states that, with certain exceptions, the investment in and establishment of commercial enterprises by foreign investors shall be subject to the examination of the provincial-level departments in charge of commerce.
CIRC monitors insurance company solvency through inspections.
The Guidelines set forth the requirements for engaging in the private equity investment trust business.