New Regulations on the Supervision of Foreign-funded Banks in China

Foreign banks have achievedremarkable development in China since theintroduction in 1980, and so far there are 135institutions doing business in our country.With the increasing number of foreign-fundedfinancial institutions and the developmentof their businesses, China has made someadjustments to its policies and laws governingforeign banks in recent years, which aredemonstrated in the following aspects.Ⅰ Regions: In August, 1994, 11 cities wereapproved to set up business institutions offoreign banks. So far, the number of suchcities has increased to 24, as follows: Beijing,

NEW REGULATIONS ON ESTABLISHING OVERSEAS TRADING COMPANIES AND REPRESENTATIVE OFFICES

With a view to implementing the strategy of broadlybased economic and trade cooperation, facilitating the foreign economic relations and trade compaines and productive enterprises entitled to engage in import and export trade so as to develop their diversified market, and expanding the presence of China’s commodities on the international market, Ministry of Foreign Trade and Economic Cooperation (MOFTEC) has recently laid down new regulations on examining and approving the establishment of trading companies and representative offices outside the country (excluding Taiwan, HongKong and Macao). 1. The qualifications of the enterprises intending to apply for the establishment of overseas trading companies and representative offices: 1)With regard to foreign eco-

NEW REGULATIONS ON IMPORT AND EXPORT MANAGEMENT RIGHTS GRANTED TO COMMERCIAL AND MATERIAL SUPPLY ENTERPRISES

With the approval of the State Council, State Economicand Trade Commission, Ministry of Foreign Trade and EconomicCooperation and Ministry of Internal Trade recently issued theCircular Regarding Some Relevant Issues in Granting Import andExport Management Rights to Commercial and Material SupplyEnterprises. It means that work ofgranting import and exportmanagement rights has from a trial been led onto the right path ofexamination and approval. The principle of examination and ap-proval, conditions, and the procedure of reporting to a higher in-stitution shall still be in conformity with the relevant regulationsprescribed in Decree No.76 (1993) of the State Council.In November 1993, the State Council approved and trans-mitted Opinions on Experiment of Granting Import and ExportManagement Rights to Some Commercial and Material Enterprisesby State Economic and Trade Commision, Ministry of ForeignTrade and Economic Cooperation and Ministry of Internal Trade.Totaling 206 commercial (including grain and supply and sale)and material supply enterprises are put to trial and granted

NEW REGULATIONS OF CHECKING AND WRITING-OFF FOREIGN EXCHANGE PAYMENT FOR TRADE IMPORT

As from March 1,the State Administration of Exchange Con-trol will implement a new "Provisional Regulations of Checking,Writing-off and Supervising Foreign Exchange Payment for TradeImport".This is an important measure of reforming China’s for-eign exchange system, and is an afterwards supervising measure ofguaranteeing orderly proceeding of toreign exchange payment fortrade import after the exchange of regular items.One of the purpose of carrying out the new regulations is toform an afterwards supervising mechanism for foreign exchangeimport payment of regular items which guarantees the authenticityof foreign exchange import payment and orderly proceeding theexchange of Renminbi regular items;secondly,through examiningand verifying documents of foreign exchange import payment,veri-

AIDS Victims Protected under New Regulations

On September 29, 2005, the State Council, on order of Premier Wen Jiabao, published the Regulations Concerning Prevention and Treatment of HIV/AIDS （hereinafter referred to as the Regulations for short）, which became valid for implementation on March 1, 2006. The Regulations has 64 articles in seven chapters, namely, General Principles, Publicity and Mass Education, Prevention and Control, Treatment and Help, Measures of Guarantee,

Is exhibition industry ready for new regulations?

Therehavebeen6000conferencesandeventsheldinBeijingin2004,coveringdifferentaspectsincludingeconomy,culture,sports,travelandeducation.However,securitythreatsdoexistin60%oftheseevents,therefore。

PRC Promulgates New Regulations on Foreign Exchange Control

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A Brief Discussion of the New Trend of Cosmetics Regulations Based on the Imported Cosmetics Registration Data

This article is based on data analysis from 2012 to 2019 of imported non-special-use cosmetics registration quantity,special-use cosmetics registration quantity,children's cosmetics registration quantity,etc.And also based on the Regulation on Supervision and Administration of Cosmetics(Draft),and so on.This article will briefly discuss the influence of the new trend of Chinese cosmetics regulations on the development of the cosmetics industry.According to data analysis,the pre-market approval process for cosmetics is closely related to the annual increase in the new product registrations quantity.Since March 1st,2017,the reform of the imported non-special-use cosmetics registration was first initiated in Pudong New Area in Shanghai,the imported cosmetics registration quantity has increased significantly,so as the non-special-use children’s registration.Under the background of no obvious change in the pre-marketing approval process of imported special-use cosmetics,there is no significant increase in the quantity of annual registration.Among the nine categories of special-use cosmetics,sunscreen and whitening cosmetics accounted for the highest proportion,followed by hair dyeing.For the hair-growing,breast beauty,fitness categories of special-use cosmetics,the registration quantity each year was very low due to the low approval rate,long approval process and high testing costs,etc.According to the new trend of Chinese cosmetics regulations,the idea of cosmetics supervision and administration is changing from focusing on pre-market approval procedures to focusing on post-market surveillance.

On Answering the Question Related to the Legal Regulation of Working Hours in the New Era:Western Experience and Chinese Approach

The popularity of flexible working hours around the world has slowed down the historical trend of reducing working hours.It even shows signs of regression.Whether and how to guide the cur-rent society with flexible working hours to return to the historical track of reducing working hours,improve the quality of working hours,and promote a smooth transition from the era of traditional standard work-ing hours to the era of flexible working hours has become a question related to the legal regulation of working hours in the new era.In this regard,although Western countries have proposed new regulatory concepts and carried out legislative practices with distinctive charac-teristics,the limitations of legal regulation capabilities have prevented them from proposing a package of institutional solutions.The advan-tage of China in the ability of legal regulation of working hours has been gradually formed in the legislation on working hours unnder the leadership of the CPC in the past century.It enables China to break through the limitations of the West and propose a Chinese approach to answer the question of the legal regulation of working hours in the new era from three aspects:limiting the extension of working hours,improving the quality of flexible working hours,and optimizing the funnctions of the multi-funnctional regulatory system for working hours.

A new era of precise liquid regulation:Quasi-liquid

Common in nature and artificial systems,quasi-liquid represents a special phase under specific conditions,where precise regulations can be conducted to accommodate various applications,such as material,biology,life and manufacture.

NEW REGULATION BY THE PEOPLE'S BANK OF CHINA-TRADING B STOCKS ABROAD,OPENING ACCOUNTS IN CHINA

The People’s Bank of China promulgated andput in force days ago Regulation on Foreign Ex-change Accounts in China, according to which for-eign individuals or legal persons can open foreignexchange accounts to keep foreign exchange fortrading B stock in China.As stipulated by the regulation, as to foreigncurrency stock accounts opened bydomestic insti-tutions with the income from issuing stocks, theirreceipt shall be income from issuing stocks anddisbursement shall be used for the purposes pro-vided for in the prospectus approved by securitiessupervising organs; as to foreign exchange ac-counts opened by foreign individuals or legal per-sons for trading B stocks in China.their receipt shallbe the income of trading stocks and foreign ex-change remitted or brought in from abroad, andtheir disbursement shall be used for buying andselling stocks.As provided in the regulation, for the purposeof opening B stock account to trade B stocks

The Effect of Nitric Oxide on the Growth of Marine Phytoplankton

The incubation experiments of Skeletonema costatum, Dicrateria zhanjiangensis nov. sp., and Platymonas sub-cordiformis, and those of Emiliania huxleyi were carried out in the Marine Physical Chemistry Laboratory in Ocean University of China and in the Marine Organic Geochemistry Laboratory in the University of Georgia respectively. Nitric oxide was added into the media when these marine microalgae were growing. We found the growth of these four microalgae were promoted or inhibited when nitric oxide of different concentrations was added one or two times each day during the cultivation process. The results are consistent with the influence of nitric oxide on the growth of high plants. The results show that nitric oxide may be a new factor of regulation and control for the phytoplankton growth in seawater.

Analysis of Solvency of A-Share Listed Companies in China’s Real Estate Industry

The real estate industry is a capital-intensive industry and capital has become a particular concern for real estate enterprises.For a long time,China’s real estate enterprises rely on high-leverage development and carry out high-debt and high-risk operations.The solvency of real estate enterprises has been the focus of stakeholders’attention.In August 2020,China’s regulatory authorities introduced new financing regulations for real estate enterprises.They set up“three red lines,”which brought real estate enterprises’solvency into focus once again.This article takes A-share listed companies in China’s real estate industry as an example,analyzes and evaluates its debt solvency,and gives suggestions based on new policies and regulations,hoping to provide specific references to the enterpriser’s manager and external decision-makers.

The 2018 new asset management regulation and LGFV bonds in China

While the local government debts and local government financing vehicle(LGFV)bonds underwent reconstruction,in 2018 the new asset management regulation introduced some tighter measures to restrain shadow banking business and to mitigate the moral hazard issue that led to an ongoing boom of the LGFV market.This paper examines the impacts of the 2018 new asset management regulation on the credit spread of newly issued LGFV bonds and explores how the new asset management regulation affects the implicit guarantee of local governments in the LGFV market that has piled up systemic risks.We find that the release of the new asset management regulation has raised the credit spread of LGFV bonds at issuance.More importantly,the credit spread becomes increasingly sensitive to the local governments’financial capacity and credibility right after the introduction of the new asset management regulation.Therefore,investors are compensated by more risk premiums for holding LGFV bonds issued by the local governments with a weaker balance sheet.Consequently,the implicit guarantee problem in the LGFV bond market has worsened.

New emission standards in alignment with European regulations

Four standards, GB14761 - 1999 "Limits and measurement methods for emission of pollutants from motor vehicles", GB 17691 - 1999 "Limits and measurement methods for exhaust pollutants from compression ignition (C. I.) en-gines and vehicles equipped with C. I. engines ", GB 3847-1999 "Limits and measurement

High Hopes on New Regulators

The new heads of China’s financial regulatory bodies face obstacles as they try to maintain financial stability and deepen