The Circular allows domestic residents to set up offshore financing platform by means of special purpose companies and to participate in various equity financing activities through reverse acquisition, equity transfer, convertible bonds in international financial market. The Circular also stipulates the relevant registration and administration procedures for special purpose companies and remittance of profits, dividends, liquidation proceeds, equity transfer proceeds, and capital reduction proceeds.
The Letter further elaborates on the Provision for the Administration of the Employment of Foreigners in China, and requires that foreigners engaged in state-specified occupations must hold an Occupational Qualification Certificate of the PRC.
The Tentative Measures provides for investments in government bonds, financial bonds and enterprise/corporate bonds. It also specifically stipulates on new bond products as commercial bank financial bonds, international development organization renminbi bonds and short term financing bonds. In its risk control efforts, the Tentative Measures requires the establishment of a sound bond investment risk control system with a precise, scientific and effective business operation flow, a credit risk evaluation system for bond issuing parties and bonds, and an independent third-party custody system.
In addition to elaborating the Tentative Measures for the Administration of Overseas Utilization of Foreign Exchange Insurance Funds, the Implementation Rules further establish the basic management structure, duties and responsibilities, their basic operations and management procedures, and their selection following market-oriented principles for the insurance company (the entrusting party), the investment management institution (the entrusted party) and the commercial bank (the custodian). The Implementing Rules also add new overseas products such as structured deposits, mortgaged-backed securities and money market funds. It also introduces independent third parties in supervising funds flow, internal control mechanisms, accounting, credit rating and assets evaluation.
This Circular addresses issues regarding pre-tax deduction of advertisement and publicity expenses, and public welfare and relief donations by the head offices of enterprises that consolidate (combine) their tax payments.
These Regulations aim to strengthen oversight over direct selling activities. Persons below 18 years of age or with limited/no civil capacity, or full time students may not be recruited as direct salesperson.
This Circular aims to prove the trade administration on enterprises in bonded zones and bonded logistics parks. Enterprises and individuals in bonded zones and bonded logististics parks may lawfully obtain the right to trade and apply for the right to distribution.
These Provisions restrict the leasing of radio/television channels (frequencies) to foreign entities. Furthermore, fixed periodic/live radio or television programmes produced by cooperation between local stations and foreign entities are prohibited.
This Circular aims to standardize the administration of Sino-foreign equity and cooperative joint ventures that produce/distribute radio and television programmes.