The Rules aim to maintain order in the securities markets. Transfer of non-tradable shares of listed companies must be handled by stock exchanges and in a centralized, uniform manner by Shanghai Stock Exchange, Shenzhen Stock Exchange, and the China Securities Depository and Clearing Corporation Ltd.

Issued: January 24 2005Effective: as of date of issueMain contents: Starting from January 24 2005, the parties, who enter into an equity transfer document…

After many years of anticipation and false starts, the PRC51s first comprehensive franchising legislation, the Administration of Commercial Franchising Procedures, was finally issued by the Ministry of Commerce (MOFCOM) with effect from February 1 2005.1

Promulgated: November 17 2004Effective: 30 days after the date of promulgationInterpreting authority: Ministry of CommerceApplicability: These Provisions…

Promulgated: February 8 2005Effective: April 1 2005Applicability: The Procedures apply to the establishment of electronic certification service providers…

Issued: February 5 2005Main contents: The Circular specifies the policies on value-added tax, consumption tax and enterprise income tax involved in the…

Issued: December 31 2004Effective: January 1 2004Main contents: The Circular states that daily payment of securities settlement risk funds by securities…

The Procedures aim to create norms for commercial franchising activities. It covers issues such as franchise parties, franchise agreements, advertising, information disclosure, and foreign-invested entities.

PRC holding company structures are evolving as China¡¦s economy becomes more sophisticated and as foreign companies reorient their China strategies. What changes have been introduced by recent regulations?