 | Implementing Measures for Paid Annual Leave of Employees Out - 10/6/2008 |
| | On 27 September 2008, China’s Ministry of Human Resources and Social Security released Implementing Measures for Paid Annual Leave of Employees (Measures), which took effect that day. |
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| Securities Firms To Launch Trial Financing and Bonds Financing Businesses - 10/6/2008 |
| | In accordance with Securities Law of the People’s Republic of China and Administrative Provisions for Supervision of Securities Firms, the China Securities Regulatory Commission (CSRC) announced on 5 October 2008 that trial financing and bonds financing businesses in securities firms will be officially launched soon. |
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| MOFCOM to Regulate Administration of Import Tariff Quotas for Wool and Wool Tops - 10/6/2008 |
| | On 27 September 2008, China’s Ministry of Commerce (MOFCOM) released Implementing Rules for Import Tariff Quotas of Wool and Wool Tops in 2009 (Implementing Rules), which subject imported wool and wool tops to the administration of import tariff quota for wool and wool tops. |
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| Online Services for China’s Free Trade Area Begin Official Operations - 9/28/2008 |
| | Online services for China’s free trade area, an important public service of the Ministry of Commerce, began operating officially on 27 September 2008. The online services located at http://fta.mofcom.gov.cn/, are aimed at updating people from all walks of life the state of affairs concerning the construction and implementation of China’s free trade areas, and providing local and foreign enterprises information on the application of free trade agreements, as well as the preferential policies and conveniences they may enjoy. |
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| SSE to Revise Implementing Rules for Bond Transactions - 9/28/2008 |
| | On 26 September 2008, the Shanghai Security Exchange (SSE) released a circular to revise Shanghai Security Exchange Implementing Rules for Bond Transactions (Implementing Rules). The revised Implementing Rules changes the applicable range into “spot transactions and pledge-style repo transactions of treasury bonds, corporate bonds, enterprise bonds, and convertible bonds where stock rights and bonds are separately transacted through the bid-offer transaction system” . |
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| GAC to Adjust Taxation Policies on Imports of Ultra High Voltage Transmission Equipment and Their Spare Parts - 9/28/2008 |
| | On 17 September 2008, China’s General Administration of Customs (GAC) released a circular to stipulate that beginning 15 September 2008, foreign-invested enterprises importing ultra high voltage (UHV) transmission equipment with their own funds will no longer enjoy import tax exemption policies. |
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| China Will Revise Provisions to Restrict Large Cash-Sum Transaction - 9/27/2008 |
| | On 26 September 2008, Tang Xu, a person-in-charge from the People’s Bank of China (PBC) said that in view of opposing money-laundering, the central bank is considering introducing necessary administrative regulations for the use of large cash-sums. |
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| CIRC Calls for Further Improvements in the Service Quality of Claims Settlements for Compulsory Traffic Accident Liability Insurance - 9/27/2008 |
| | On 23 September 2008, the China Insurance Regulatory Commission (CIRC) released an announcement to improve the management and quality of service for compulsory traffic accident liability insurance. The announcement stresses that all insurance companies dealing with compulsory traffic accident liability insurance should further simplify their settlement procedures, shorten the period for winding up cases, and perfect their mechanism for advancing of funds for emergency treatment expenses. |
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| MOF to Extend the Validity Period of Interim Audit Licenses for HK and Macao Accounting Firms - 9/27/2008 |
| | On 16 September 2008, China’s Ministry of Finance (MOF) released a circular to extend the validity period of licenses for Hong Kong (HK) and Macao accounting firms from carrying out interim auditing work in mainland China. |
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| SSE to Standardise Work for Listed Companies Disclosing Their Third-Quarter Report - 9/27/2008 |
| | On 25 September 2008, the Shanghai Stock Exchange (SSE) released a circular to set concrete requirements for listed companies disclosing their third-quarter reports. The circular points out that all listed companies listed prior to 30 September 2008 must complete their work of disclosing their third-quarter reports before 31 October 2008. The financial accounting reports in the quarterly reports do not need to be audited. |
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