Legislation

Shareholders that hold shares of listed companies may, through sponsorship of a sponsor, apply to the China Securities Regulatory Commission to offer exchangeable bonds.

The revised Provisions set forth requirements concerning solvency assessments, solvency reports, solvency management and solvency monitoring.

The Ministry of Commerce delegates its power to approve the establishment of foreign-invested companies limited by shares to provincial-level departments in charge of commerce.

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.

State Council rules out iron-rice-bowl employment contracts.

Forex regulations revised to curb inflow of hot money.

Insurance companies required to include provisions on solvency level in their articles of association.

Periods of prescription of actions clarified for civil cases.

Basic telecommunications services further opened to foreign investors.