Legislation

The Circular provides guidelines to reinsurance contracts and retrocession contracts whose term commences on or after January 1 2008 as to risk management mechanism, financial strength ratings, paid-in monetary capital, solvency and trading history requirements for the selection of a reinsurance cedent.

The new guidance catalogue has re-defined industries into those that are encouraged, restricted or prohibited for foreign investment.

Reporting of revenue from individuals' share transfer required in tax returns.

Shenzhen Stock Exchange curbs listed companies' tampering of accounting results.

Mortgage rate for purchase of a second set of residential premises raised.

Charges redefined to cope with new types of crimes.

Guangzhou reduces the lower threshold for business tax.

PBOC launches forward rate agreements.

National LegislationAVIATIONPRC Basic Aviation Rules (2nd Revision)中华人民共和国飞行基本规则（第二次修订）L4700/07.10.18CUSTOMSPRC…