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Policy Updates
- Weapons R&D Gets Guideline
China yesterday released a guideline for private businesses to research and develop weaponry and equipment.
- Shanghai Seeks to Curb Power Abuse
The Shanghai Party discipline inspection authority has sought to enhance supervision over local officials and curb power abuse.
- Law on Personal Info 'Next Year'
Personal information protection law expected to be enacted next year, but it might take longer to iron out some details.
- New Insurance to Cover Medical Malpractice
All Shenzhen's public hospitals will be forced to take out insurance against medical accidents later this year.
- Domestic Violence in Spotlight
The Ministry of Public Security confirmed yesterday that police will handle cases of domestic violence differently to regular family disputes, and better protect victims.
- Heat Bonus Is Mandatory, Officials Warn
The Shanghai Labor and Social Security Bureau yesterday reminded all companies to pay an allowance to all employees who work outdoors during extremely hot weather.
- Gov't Bodies Asked to Use Credit Cards
Government departments and institutions subject to central budgetary management have been required to use credit cards instead of cash when spending public funds.
- Rules Changed to Woo Long-term QFII Funds
China will ease the restrictions on qualified foreign institutional investors (QFIIs) seeking to invest in the stock market.
- Central Bank Raises Interest Rates
China decided to raise interest rates and cut the withholding tax on interest income on July 20, the central bank said in a statement.
- Overseas Firms 'Can Bid' in the Largest Gold Mine
Domestic, as well as overseas, companies can bid for the exploration rights of China's largest potential gold mine.
- Rail-Accident Compensation Scheme Introduced
Starting from September 1st, China will for the first time introduce its railway accident compensation program which requires railway departments pay a record quota of 150,000 yuan, or nearly US$19,000 to a passenger who may sustain death or injuries in future possible railway accidents.
- Shanghai Imposes Land Tax on Second-hand Houses
Starting July 15, the Shanghai Municipal Government began to levy land value-added tax on transactions of second-hand non-regular commercial housing.
- Rules to Curb Violations of Pollution Laws
China's environment chief on Thursday unveiled a set of tough new rules to tackle worsening lake pollution.
- Forex Rules Scrapped to Stem Liquidity
The government has scrapped rules that forced exporters to bring home foreign currency.
- China to Invest 62 Bln Yuan in Rural Projects
Chinese government will invest about 62 billion yuan in rural infrastructure this year, the National Development and Reform Commission has announced.
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