Full Text Translation

Transfers of state-owned assets and equity of unlisted enterprises shall be publicly carried out through lawfully- established assets and equity exchanges at the provincial level and above.

Insurance companies allowed to invest in local government bonds, medium-term notes and Hong Kong-issued SOE bonds.

An insurance company or insurance asset management company shall establish different grades of stock pools, such as a prohibited pool, reserve pool and core pool.

Relaxation of approval authority creates foreign exchange control niche.

Mofcom delegates the authority to approve foreign-invested companies with an investment nature with registered capital of US$100 million or less to provincial-level and sub-provincial-level local authorities.

Acquisition of domestic enterprises in the encouraged or permitted category which transaction amount is less than or equal to US$100 million may be approved by local authorities.

The amended Law allows insurance companies to invest in bonds, stocks, securities investment fund shares and immovable property.

The Circular addresses the issues of wages and salaries, total payroll, and deduction of employee benefit expenses.

The Guidelines allows commercial bank establishments with legal personality to engage in the extension of loans for mergers and acquisitions and set forth the criteria therefor.