Chinese Government Sets the First National Regulatory Framework to Protect Financial Consumers

Guiding Opinions on Strengthening Financial Consumer Rights and Interests Protection Issued 《关于加强金融消费者权益保护工作的指导意见》国办发〔2015〕81号).   On November 4, 2015, China’s State Council publishes the Guiding Opinions on Strengthening the Protection of Financial Consumer Rights and Interests (the “Guiding Opinions”) Policy Purpose Set to regulate the provisions of financial products and services of relevant financial institutions with the…

The State Council Takes another Regulatory Initiative to Promote Efficient Management of the State-owned Assets

Several Opinions on Perfecting State-owned Assets Management System 国务院关于改革和完善国有资产管理体制的若干意见 (国发〔2015〕63号)         To enhance the performance of SOEs has been the top priority of Chinese government reform agenda. Among many others measures, the State Council recently has taken one more regulatory initiative by to promote the efficiency of the State-owned Assets management. On 4th…

Who writes China’s 13th Five-Year Plan (FYP)?

“If you want to know what China’s gonna do, best pay attention to the shi san wu [13-5].” Why the Five-Year Plan (FYP)? Although the three-minute long video, which attempts to promote China’s 13th Five-Year Plan, has received mostly negative feedbacks on its, inter alia, “Utterly Inane” (Time), the video does have successfully delivered the key message: i.e. the importance of the 13th Five-Year…

The CSRC Encourages Mergers and Acquisitions, Restructurings, Cash Dividends and Share Repurchase by Listed Companies (《关于鼓励上市公司兼并重组、现金分红及回购股份的通知》)

On 31 August 2015, the China Securities Regulatory Commission (CSRC), in conjunction with the Ministry of Finance (MoF), the State-Owned Assets Supervision and Administration Commission (SASAC) and the China Banking Regulatory Commission (CBRC), releases a Circular on Encouraging Mergers and Acquisitions, Restructurings, Cash Dividends and Share Repurchase by Listed Companies (《关于鼓励上市公司兼并重组、现金分红及回购股份的通知》, 证监发[2015]61号)   The Aims The Circular…

Supreme People’s Procuratorate (“SPP”) Mandates the New Accountability System for People’s Procuratorates (《关于完善人民检察院司法责任制的若干意见》)

  On 25 September, 2015, the Supreme People’s Procuratorate (“SPP”) issued the Several Opinions on Improving the Judicial Accountability System for People’s Prucuratorates. (“SPP Opinions”). The Background The establishment of the accountability system of PP is one of many initiatives to implement the judicial system reform agenda, firstly adopted by the CPC Report at its 16th Party Congress on…