Zhuhai-Macao Legal Information, April 2024, Issue 43

Zhuhai-Macao Legal Information, April 2024, Issue 43

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Zhuhai-Macao Legal Information, Issue 43

Foreword

The "Zhuhai-Macao Legal Information" is jointly released by Beijing Jingshi (Zhuhai) Law Firm, Zhuhai Huafa Macao Service Enterprise Incubation Management Co., Ltd., and Macao Industrial Diversification Shizimen Central Business District Service Base.

New Law Express

(Excerpt)

1. Measures for the Administration of Consumer Financial Companies

Timeliness: Not yet implemented

Issuing authority: State Administration of Financial Supervision and Administration

Document number: Decree No. 4 of 2024 of the State Administration of Financial Supervision and Administration

File Attributes: Department Rules

Date of issue: 2024-03-18

Effective Date: 2024-04-18

Summary:

The revised Measures for the Administration of Consumer Financial Companies will come into force on April 18, 2024. Among them, the access standards will be raised, the index standards such as assets and operating income of major investors will be raised, as well as the minimum shareholding ratio requirements, the shareholder responsibilities of major investors will be strengthened, the shareholding ratio of investors with experience in consumer finance business management and risk control will be increased, and the minimum registered capital requirements of consumer finance companies will be raised to enhance their risk resilience.

2. "Procedures for Handling Credit Reporting Complaints"

Timeliness: Not yet implemented

Issuing authority: People's Bank of China

Document number: Yinfa [2024] No. 37

File Properties: Notifications

Date of issue: February 07, 2024

Effective Date: 2024-04-15

Summary:

The revised "Regulations for the Handling of Credit Reporting Complaints" will come into force on April 15. Among them, the requirements for identity verification of complainants are simplified, new procedures such as material review, complaint suspension, and consolidated handling are added; the right to accept credit investigation complaints and jurisdiction are unified, and it is clarified that credit investigation complaints are under the jurisdiction of the branch of the People's Bank of China where the respondent is located; the system design is strengthened, the complainant is guided to correctly protect his rights, the standards and scope of complaint acceptance are clarified, and the termination clause is added for situations such as providing false materials and impersonating complaints.

3. Measures for Administrative Penalties for Coal

Timeliness: Currently in force

Issuing authority: National Development and Reform Commission of the People's Republic of China

Document number: Decree No. 9 of the National Development and Reform Commission of the People's Republic of China

File Attributes: Department Rules

Date of issue: December 27, 2023

Effective Date: 04/01/2024

Summary:

The Measures for Coal Administrative Penalties will come into force on April 1, 2024, standardizing the implementation of coal administrative penalties and ensuring and supervising the effective implementation of administrative management by coal management departments. It is proposed that the coal administrative penalty procedure is divided into summary procedure and ordinary procedure, and the summary procedure shall be applied to the administrative penalty decision made on the spot in accordance with the law; other coal administrative penalties shall be subject to the ordinary procedure in accordance with the provisions of the Administrative Punishment Law of the People's Republic of China.

Rule of law dynamics

(Excerpt)

nationwide

• On April 2, the Food Safety Office of the State Council, the Ministry of Public Security, the Ministry of Agriculture and Rural Affairs, and the State Administration for Market Regulation jointly issued a notice to deploy all localities to carry out an eight-month special rectification action to crack down on meat product violations and crimes.
• On April 3, the "Quality Assessment Standards for Childcare Institutions" was officially implemented, clarifying that the retention period of surveillance video data of childcare institutions shall not be less than 90 days.
• On April 6, the Ministry of Transport reported that the mainland will fully realize the online purchase of e-tickets for real-name documents such as resident ID cards, passports, and permanent residence ID cards for foreigners within this year.
• On April 8, the newly revised "Implementation Plan for Cultural Protection, Inheritance and Utilization Project" was officially announced, which will focus on strengthening the protection and improvement of historical and cultural cities and blocks, the protection and utilization of national key cultural relics and archaeological excavations, and the construction of archaeological specimen warehouses in key areas.
• On April 10, the People's Bank of China, the Ministry of Culture and Tourism and other four departments jointly issued a document, clarifying that national 5A-level and 4A-level scenic spots should achieve full coverage of domestic and foreign bank card acceptance.
• On April 12, the Ministry of Education decided to organize and carry out a special action for sunshine enrollment in compulsory education (2024) to resolutely rectify the phenomena of "black-box operation" and "pinching enrollment".
• On April 13, the National Development and Reform Commission and the National Energy Administration issued opinions on the 12th, clarifying that by 2027, a coal capacity reserve system will be initially established, and a number of coal mine projects with capacity reserves will be approved in an orderly manner.
• On April 14, Guangdong issued a plan that Guangzhou and Shenzhen will further relax the restrictions on car licensing indicators.
• On April 15, Guangdong issued a plan to encourage banking institutions to appropriately reduce the down payment ratio of passenger car loans, and reasonably determine the term and credit limit of automobile loans.
• On April 19, the Ministry of Education deployed the establishment of undergraduate majors, clarifying that colleges and universities should plan to add majors in advance according to the needs of economic and social development.
• On April 20, the Ministry of Industry and Information Technology said that it would cultivate a number of competitive computing service enterprises, create a unified national computing service market, and reduce the cost of computing for small and medium-sized enterprises.
• On April 24, the Ministry of Human Resources and Social Security reported that at present, there are 131 pilot cities for direct settlement of work-related injuries in different places.
• On April 25, 13 real estate projects in Shenzhen launched the "old for new" activity of commercial housing to improve the convenience of housing transactions.

Macau S.A.R

• On April 1, Law No. 14/2022 "Legal System for the Safety of Lifting Equipment" and related supporting regulations came into effect on April 1. The lifting equipment shall be inspected at least once a year, and the inspection declaration shall be posted in the conspicuous place of the equipment. The Land and Urban Construction Bureau (LRD) urges users to pay attention to the use of lifting equipment and notify the maintenance entity through the contact information in the lift if there is any problem.
• On 5 April, the Cultural Affairs Bureau of the Macao Special Administrative Region Government and the Cultural Heritage Bureau of Henan Province signed the Framework Agreement on Strategic Cooperation between the Cultural Heritage Bureau of Henan Province and the Cultural Affairs Bureau of the Macao Special Administrative Region Government, which was jointly signed by the Director of the Cultural Affairs Bureau of Macao, Leong Wai Man, and the Director of the Cultural Heritage Bureau of Henan Province, Ren Wei, to strengthen exchanges and cooperation between the two sides in the field of cultural and museum affairs.
• On April 9, the signing ceremony of the Agreement between the Government of the Macao Special Administrative Region of the People's Republic of China and the Government of the Republic of Kazakhstan on Mutual Visa Exemption was held in the Macao Special Administrative Region on April 9. Shakhrat Nuryshev) signed the agreement on behalf of the parties.
• On 12 April, the Secretary for Economy and Finance, Mr Lee Wai Nong, attended a plenary session of the Legislative Council (LegCo) with a detailed discussion and vote on the Bill on the Legal Regime for Casino Lucky Games Credit, the Trade Unions Act, and the Bill on the Business of Travel Agents and the Profession of Tour Guides Act.
• Li Hongzhong, member of the Political Bureau of the CPC Central Committee and Vice Chairman of the Standing Committee of the National People's Congress, announced 20 new measures in six areas in six areas to promote economic and trade co-operation between China and Portuguese-speaking countries in his speech at the opening ceremony of the 6th Ministerial Conference of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries today (22 April) on 22 April.
• On 24 April, the Monetary Authority of Macao and the Central Bank of Timor-Leste signed an updated Cooperation Agreement on the sidelines of the 6th Ministerial Conference of the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao) to deepen and strengthen cooperation between the two sides in various fields, and held bilateral meetings to exchange experience and information on financial regulation, financial market development and reserve management.
• On 25 April, in line with the HKSAR Government's efforts to promote e-government and enhance service efficiency, the Consumer Council launched the online service "Notification of Sales Activities at Exhibitions or Exhibitions" on "eBrand" with immediate effect to facilitate organisers of exhibitions and sales activities to report information on their sales activities online. The Law on the Protection of Rights and Interests of Consumers stipulates that for a sales event held in Macao, the Organiser must provide the Council with the venue, start and end dates of the event, as well as the identification information, address and contact details of the exhibitors at least two working days before the commencement of the event. Event organisers can now fill in the notification form and upload exhibitor information, view the contents of the notifications and supplement the traffic report documents online through the "eConsumer" integrated services electronic platform. Organisers can also log on to the Council's website (https://www.consumer.gov.mo) and click on the online service "Notification of Sales Activities at Exhibitions or Exhibitions" to complete the notification procedures, which is believed to further facilitate the notification of the trade.

Circular of the Guangdong Branch of the People's Bank of China on the issuance of the Administrative Measures for the Multi-functional Free Trade Account Business of the Guangdong-Macao Intensive Cooperation Zone in Hengqin

(Excerpt)

　　In order to implement the "Overall Plan for the Construction of the Guangdong-Macao Intensive Cooperation Zone in Hengqin", the "Opinions of the People's Bank of China, the Banking and Insurance Regulatory Commission, the Securities Regulatory Commission, the State Administration of Foreign Exchange and the People's Government of Guangdong Province on Financial Support for the Construction of the Guangdong-Macao Intensive Cooperation Zone in Hengqin" and the "Notice of the People's Bank of China and the State Administration of Foreign Exchange on Issuing the "Electronic Fence" Construction Plan for Funds of the Hainan Free Trade Port and the Guangdong-Macao Intensive Cooperation Zone in Hengqin" The Guangdong Branch of the People's Bank of China has formulated the Administrative Measures for the Multi-functional Free Trade Account Business of the Guangdong-Macao Intensive Cooperation Zone in Hengqin (see Annex). It is hereby issued to you, and you are requested to comply with it. If you encounter any problems during the implementation process, please report to the Guangdong Branch of the People's Bank of China in time.

　　The Zhuhai Branch of the People's Bank of China is requested to forward this notice to all banking institutions in the jurisdiction.

　　Notice is hereby given.

　　Guangdong Branch of People's Bank of China

　　April 3, 2024

Multi-functional free trade in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin

Measures for the management of account operations

Chapter I: General Provisions

　　Article 1 In accordance with the Law of the People's Republic of China on the People's Bank of China, the Law of the People's Republic of China on Commercial Banks and other laws and regulations, in order to implement the Overall Plan for the Construction of the Guangdong-Macao Intensive Cooperation Zone in Hengqin, the Opinions of the People's Bank of China, the Banking and Insurance Regulatory Commission, the Securities Regulatory Commission, the State Administration of Foreign Exchange and the People's Government of Guangdong Province on Financial Support for the Construction of the Guangdong-Macao Intensive Cooperation Zone in Hengqin, and the Notice of the People's Bank of China and the State Administration of Foreign Exchange on Printing and Distributing the "Electronic Fence" Construction Plan for Funds of the Hainan Free Trade Port and the Guangdong-Macao Intensive Cooperation Zone in Hengqin These measures are formulated to standardize the work related to the multi-functional free trade account business of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin (hereinafter referred to as the Cooperation Zone).

　　Article 2 These measures shall apply to the multi-functional free trade account sub-accounting business carried out by the banking institutions of the cooperation zone.

　　Article 3 The multi-functional free trade account sub-accounting business of the cooperation zone refers to the banking institutions of the cooperation zone to meet the needs of high-level trade and investment liberalization and facilitation, and build on the basis of the existing free trade account to provide cross-border capital settlement, exchange, investment and financing and other related financial services for qualified business entities.

　　The multi-functional free trade account refers to the domestic and foreign currency account with unified rules for banking institutions to provide multi-functional free trade sub-account accounting business according to the needs of customers.

　　Institutions in the zone refer to enterprises (including legal persons and unincorporated persons) registered and established in accordance with the law in the cooperation zone, as well as public institutions, social groups or other organizations established in the cooperation zone in accordance with the law.

　　Overseas institutions refer to legal persons and other organizations legally incorporated overseas (including Hong Kong, Macao, and Taiwan, the same below).

　　An overseas individual refers to a natural person who holds an overseas identity document.