Legislation

Power pricing reform extended to four more provinces.

Banks required to purchase deposit insurance.

Foreign investment catalogue revised to allow more foreign shareholding.

Pharmaceutical manufacturers and distributors no longer need a pharmaceutical licence before getting a business licence.

Insurance capital allowed to invest in venture capital.

All corporate legal persons are allowed to offer bonds.

State Council promotes the use of enterprise standards.

Guangdong is the first province to implement a negative list for investments.

Administration of the levying of taxes may only be provided for in laws.