China-Singapore Jingwei reported on April 29 that it is about to enter May, and a number of new regulations will also be implemented, involving entry and exit, non-bank payment, provident fund, etc., which one is related to you?
[Nationwide]
Pilot implementation of the "full online office" for the renewal and reissuance of entry documents
The National Immigration Administration has decided to officially implement several policies and measures for the entry and exit management of convenience and enterprises from May 6, 2024. The first is to pilot the implementation of the "full online application" for the renewal and replacement of entry documents in 20 cities including Beijing, the second is to implement the "smart speed" and "nationwide general application" for business endorsements to Hong Kong and Macao, the third is to expand the endorsement policy for talents to Hong Kong and Macao from the mainland cities of the Guangdong-Hong Kong-Macao Greater Bay Area to Beijing and Shanghai, the fourth is to extend the stay period of those holding business endorsements to Hong Kong and Macao from 7 days to 14 days, the fifth is to issue "other" endorsements for one year to Macao, and the sixth is that those participating in the "Hengqin and Macao Tours" can travel to and from Hengqin and Macao multiple times.
The mainland will implement tariff concessions for Ecuador under a free trade agreement
The Free Trade Agreement between the Government of the People's Republic of China and the Government of the Republic of Ecuador will enter into force on 1 May 2024. In order to fulfill the commitments related to tariff concessions under the Agreement, the Customs Tariff Commission of the State Council issued an announcement that from May 1, 2024, the agreed tariff rates will be implemented under the Agreement for some imported goods originating in Ecuador.
Welcome rules for non-bank payment institutions
The Regulations on the Supervision and Administration of Non-bank Payment Institutions will come into force on May 1, 2024. Among them, the "Regulations" will change the current business license into an institutional license, and implement access management in accordance with the principle of "license before license". Clarify the requirements for the registered capital, major shareholders, actual controllers, directors, supervisors, senior managers, business premises, security measures, corporate governance structure and other aspects of the payment institution at the time of establishment, appropriately raise the entry threshold for registered capital, and clarify that the minimum amount is 100 million yuan, and it should be paid-in monetary capital.
Data map taken by Zhongxin Jingwei
Strengthen the disclosure of information related to the sustainable development of listed companies
The guidelines for the sustainability reporting of listed companies issued by the three stock exchanges in Shanghai, Shenzhen and North China will be implemented from May 1, 2024. According to the SSE, the SSE 180 and STAR 50 index sample companies, as well as companies listed at home and abroad, should disclose their 2025 sustainability reports for the first time by 2026 at the latest, and encourage other listed companies to do so voluntarily. The Shenzhen Stock Exchange has also clearly set up a transitional period arrangement, under which companies that continue to be included in the SZSE 100 and ChiNext index samples during the reporting period, as well as companies listed both domestically and overseas, can disclose the 2025 Sustainability Report for the first time by 30 April 2026 at the latest, and encourage other listed companies to disclose voluntarily. According to the Beijing Stock Exchange, the rules do not impose mandatory disclosure requirements on sustainability reports, encouraging companies to "do what they can" and gradually promote listed companies to strengthen disclosure.
Optimize the management of cosmetics safety assessment
The Measures to Optimize the Administration of Safety Assessment of Cosmetics will come into force on May 1, 2024. Among them, the Measures specify that cosmetics enterprises may conduct relevant research on product stability, anti-corrosion systems, compatibility of packaging materials, etc., in accordance with national standards, technical specifications, industry standards, international standards, technical guidelines or self-built methods, and submit relevant tests or assessment conclusions in the safety assessment report.
Make uniform provisions on the management of the names of social organizations
The Measures for the Management of the Names of Social Organizations will come into force on May 1, 2024. The Measures make uniform provisions on the management of the names of social organizations, which clearly state that the fields of business (undertakings) in the names of social organizations shall be indicated in accordance with the national economic industry classification standards, discipline classification standards, and the main business of social organizations. The composition of members in the name of a Social Group shall be indicated on the basis of the National Occupational Classification Standards, the common characteristics of members, and so forth. Where there are no relevant provisions, social organizations may refer to relevant national policies to make expressions. Misleading words such as "first", "supreme", and "national level" must not be used in the field of industry (business), except where they have other meanings.
Foreign investors can invest in interbank bonds through the over-the-counter channel
The Notice on Matters Concerning the Counter Business of the Interbank Bond Market will come into effect on 1 May 2024. Compared with Announcement No. 2 of 2016, the Notice further clarifies three aspects. The first is to clarify the varieties and trading methods of counter business. All kinds of bonds that have been traded and circulated in the inter-bank bond market can be invested and traded over the counter on the premise of complying with the investor suitability requirements. The second is to optimize the management rules for investors to open accounts. Investors who have opened an account in the interbank bond market can open a bond account with an over-the-counter business institution. Third, foreign investors can invest through over-the-counter channels. Foreign investors who have been granted access to the inter-bank bond market may open bond accounts through over-the-counter business start-ups and domestic custodian banks.
Maintain fair competition in the field of bidding and bidding
The Rules for the Review of Fair Competition in the Field of Tendering and Bidding will come into force on May 1, 2024. The Rules stipulate specific requirements for review in view of various types of unreasonable restrictions that are common in bidding and bidding practice, focusing on breaking down transaction barriers in terms of prequalification, bid evaluation methods, bid evaluation standards, bid award standards, credit evaluation, and deposit collection. The Rules clarify the main responsibilities of policy-making organs to carry out fair competition reviews, and stipulate the working mechanisms, work processes, review conclusions, etc., emphasizing that policy measures should complete fair competition reviews before they are submitted for review or approval. The "Rules" require relevant departments to regularly carry out policy measures assessment and cleanup, establish a mechanism for collecting clues on market barriers in bidding and bidding, dynamically clean up and abolish all kinds of policies and measures that violate fair competition, and effectively promote the implementation of the fair competition review system.
[Regional]
Shanghai: Relax the application conditions for families with more than triplets to apply for subsidies
The revised Notice on Granting Living Allowance to Families with More than Triplets will come into effect on May 1, 2024 and will be valid until April 30, 2029. In order to better protect the basic livelihood of the children of triplet families, the "Notice" amends the application conditions "children under the age of 16 or over the age of 16 but all of them are in school to receive full-time undergraduate education or below" to "children are under the age of 18 (over the age of 16, except for those whose main source of livelihood is their own labor income) or over the age of 18 but are all in school to receive full-time undergraduate education or below".
Zhejiang: Real estate brokerage institutions should reasonably reduce brokerage service fees
The "Implementation Opinions on Further Regulating the Administration of Real Estate Brokerage" jointly issued by the Zhejiang Provincial Department of Housing and Urban-Rural Development and the Zhejiang Provincial Administration for Market Regulation will come into effect on May 1, 2024. The "Opinions" make it clear that the real estate brokerage service fees shall be determined by the parties to the transaction through negotiation according to the service content, service quality, market supply and demand and other factors. Real estate brokerage institutions should reasonably reduce the cost of housing sales and rental brokerage services. Encourage the implementation of tiered pricing in accordance with the principle of higher transaction price and lower service rate. The brokerage service fee is shared by both parties to the transaction.
Data map taken by Zhongxin Jingwei
The Regulations on the Registration and Administration of Market Entities in the Hainan Free Trade Port came into force
The Regulations on the Registration and Administration of Market Entities in the Hainan Free Trade Port will come into force on 1 May 2024. Among them, the "Regulations" make it clear that the registration authority shall confirm and publicize the entity qualifications and registration items of market entities in accordance with the statutory authority and procedures, promote the registration of market entities from the approval system to the confirmation system, and set up a series of supporting measures such as facilitating the registration of market entities and strengthening supervision during and after the event.
Guiyang: Expand the scope of withdrawing housing provident fund for down payment
The Notice of Guiyang Housing Provident Fund Management Center on Optimizing the Phased Policies of Housing Provident Fund will come into force from May 6, 2024 to December 31, 2024. The "Notice" clarifies that the scope of withdrawing housing provident fund to pay down payment will be expanded, from "the depositor's family has no housing provident fund loan record nationwide and no more than one commercial personal housing loan record to purchase newly built commercial housing" to "the depositor's family has no housing provident fund loan record nationwide or only one housing provident fund loan record and the loan has been settled, and purchases newly built commercial housing and second-hand housing in Guiyang Gui'an".
Zhangzhou: Adjust the access conditions for flexible employees to apply for provident fund account opening
The Administrative Measures for the Deposit and Use of Housing Provident Fund by Flexibly Employed Persons in Zhangzhou City will come into force on May 1, 2024. Among them, the "Measures" adjust the access conditions for flexible employment personnel in Zhangzhou City to apply for housing provident fund account opening. The original provision was that the basic pension insurance premiums for flexibly employed persons in Zhangzhou City had been paid normally and continuously for 24 months before the month of voluntary contribution to the housing provident fund, and the basic pension insurance premiums had been opened in the special account for social insurance flexibly employed persons in Zhangzhou City and the basic pension insurance premiums had been paid normally before the month of voluntary contribution to the housing provident fund.
Ya'an: A one-time subsidy of 20,000 yuan for "test-tube baby" birth
The "Ten Measures for Optimizing the Birth Security Policy in Ya'an City to Promote the Long-term Balanced Development of the Population" will come into force on May 23, 2024 and will be valid for 5 years. Among them, the "Measures" mentioned that for families that meet the fertility policy and both husband and wife are registered in Ya'an, such as those who have difficulty in conception and carry out diagnosis and treatment in medical institutions with assisted reproductive qualifications, subsidies will be given in accordance with the principle of "multiple treatments, one-time subsidies". If it is necessary to use "test-tube baby" assisted reproduction, a one-time subsidy of 20,000 yuan will be given after childbirth, and a one-time subsidy of 1,500 yuan will be given after giving birth to those who use "artificial insemination" assisted reproduction.