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China: Executive Pay Limits for State-Owned Financial Institutions

(Apr. 15, 2009) The Ministry of Finance (MOF) published a circular on April 10, 2009, setting a pay cap for top executives at state-owned financial institutions. Their maximum compensation for the year 2008 is now fixed at 90% of what they received for the year 2007. The executive compensation regulated by this circular refers to […]

China: New Rules to Encourage Overseas Investment

(Apr. 13, 2009) The Ministry of Commerce (MOFCOM), China's main commercial regulator, issued the Measures for the Administration of Overseas Investment on March 16, 2009. Entering into effect on May 1, 2009, the new rules encourage Chinese enterprises to invest overseas by delegating approval authority to lower-level government agencies and simplifying approval procedures. The Measures […]

China: Food Safety Law Passed

(Apr. 3, 2009) On February 28, 2009, the People's Republic of China Food Safety Law was passed by the Standing Committee of the National People's Congress. Effective from June 1, 2009, the new Food Safety Law, containing 104 articles, will repeal the 57-article Food Hygiene Law of 1995. The Food Safety Law contains ten chapters: […]

China: Government Subsidy for Energy-Saving and Alternative-Energy Vehicles

(Feb. 27, 2009) On January 23, 2009, China's Ministries of Finance and of Science and Technology jointly issued the Provisional Measures on the Management of Government Subsidies for Energy-Saving and Alternative-Energy Vehicles. These Measures are applicable in 13 large cities selected as pilots. According to the Measures, the central government will provide a “one-off” subsidy […]

China: Economic Stimulus Plan Unveiled

(Dec. 24, 2008) On November 9, 2008, the State Council of China announced a plan to increase domestic demand and stimulate economic growth, by investing an estimated four trillion renminbi (about US$585 billion) in ten areas by the end of 2010, as a response to the global financial crises. This plan, however, is not comparable […]

China: Law on Enterprise State-Owned Assets Passed

(Nov. 25, 2008) On October 28, 2008, after years of debate and repeated revisions, the Law on Enterprise State-Owned Assets of the People's Republic of China was approved by the Standing Committee of the 11th National People's Congress (NPC). Effective from May 1, 2009, the Law is designed to strengthen protection and management of the […]

China: Recycling Economy Promotion Law to Take Effect

(Nov. 25, 2008) The Recycling Economy Promotion Law (also translated as the “Circular Economy Promotion Law”) was recently passed by the Standing Committee of the 11th National People's Congress (NPC) and will take effect on January 1, 2009. The “recycling economy” refers to reducing, reusing, and recycling activities in the process of production, circulation, and […]

China: Restrictions on Foreign News Media Eased

(Oct. 30, 2008) On October 17, 2008, the State Council of the People's Republic of China (PRC) issued new regulations governing foreign news media coverage on its territory. (Regulations of the PRC on News Coverage by Resident Foreign News Agencies and Foreign Journalists [in Chinese], Central People's Government of the PRC official website, Oct. 18, […]

China: Implementation Regulations of Labor Contract Law Published

(Oct. 28, 2008) On September 18, 2008, the State Council of the People's Republic of China (PRC) passed the Implementation Regulations of the PRC Labor Contract Law. (Text of the Implementation Regulations [in Chinese], Central People's Government of the PRC official website, Sept. 19, 2008, available at http://www.gov.cn/zwgk/2008-09/19/content_1099470.htm.) The Regulations aim to clarify unclear provisions […]

China: Detention to Be Applied for Discharging Pollutants

(Sept. 25, 2008) On August 6, 2008, China's Ministry of Environmental Protection posted on its official website a notice to circulate the Opinion on Application of Administrative Detention for Discharging Illegal Pollutants, issued by the Legislative Affairs Office of the Standing Committee of the National People's Congress (NPC Opinion). (Huan Fa [2008] No. 62, http://www.mep.gov.cn/info/bgw/bwj/200808/t20080806_127000.htm […]