Law Digest

Produces categorised lists of investment projects subject to official verification and guidance, and relaxes approval and verification systems applied to projects.

Promulgated: August 28 2004Effective: as of date of promulgationInterpreting authority: State Administration for Industry and CommerceApplicability: The…

Tax excemptions on unprofitable real property are repealed.

List of enterprise investment projects, government investment projects, as well as encouraged, permitted and restricted category projects.

Deed tax levied only on land or housing ownership inherited by non-heirs, but not by heirs.

Promulgated: June 17 2004Effective: as of date of promulgationInterpreting authority: People's Bank of China and China Banking Regulatory Commission (CBRC)Applicability:…

Regulate the procedures whereby the National Development and Reform Commission reviews and approves foreign investment projects pursuant to a new project 'confirmation system'.

A referential list for foreign economic cooperation departments in offering guidance and assessment of overseas investment by Chinese companies.

The new Policy demonstrates the PRC's ambition to develop the auto industry into one of its pillar industries by expanding its scope, and removing special approval procedures for car sellers.