Changes in forex compliance relating to FDI and ODI

On 28 February, the State Administration of Foreign Exchange (SAFE) issued the Notice on Further Simplifying and Improving Administrative Policies on the Direct Investment of Foreign Exchange (Forex Notice) and its complementary Guidelines for the Operation of Foreign Exchange Transactions Relating to Direct Investment, which took effect on 1 June.

Compliance in anti-monopoly reviews of business operator concentrations

As at August 2014, the Anti-Monopoly Law had been implemented for six years, during which time the Ministry of Commerce (MOFCOM) had opened a total of 945 cases, concluding 875 of them. Among them, MOFCOM unconditionally approved 849 cases, accounting for 97% of all concluded cases, conditionally approved four cases and barred two cases. It can be said that the system and legislation for the review of anti-monopoly filings in China is becoming increasingly better, more transparent and more mature. Based on our own practical experience, we would like to offer some compliance-related recommendations to filing enterprises.

Introduction of the “Provisions on the Prohibition of the Abuse of Intellectual Property Rights to Exclude or Restrain Competition”

Review of the New Food Safety Law (5)：—Regulation of Online Food Sales

Review of the New Food Safety Law (4)：—Strengthening the Regulation of Special Foods

Review of the New Food Safety Law (2)：—End of the Segmented Regulatory Regime for Food Safety

Review of the New Food Safety Law (3) ： —The Most Stringent Accountability System 2015-05-13

Review of the New Food Safety Law (1)： Overview of the Revisions

Using sound taxation planning under ongoing system reforms

With the intensification of reform, China has undergone a number of tax reforms, two of which have been large. The first was in the 1990s, which saw the first steps taken in establishing a modern tax regime in China and completion of the laying of the foundations for the modern tax systems in China. The second started at the beginning of the second millennium and is still in the process of continuing intensification and improvement.

Seeking recourse against an employee for economic loss

With the increasing compliance awareness of employers, there has been a progressive increase in cases where an employer demands compensation from a worker for property loss incurred as a result of a breach by the worker of its compliance management rules and regulations. Due to the imperfections and ambiguities in Chinese laws, there is a debate in judicial practice as to how an employer can seek recourse against a worker who has caused it to incur an economic loss.