| New Regulation Express |
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The Food Safety Law of PRC Was Approved By the NPC |
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In order to make clear the liability of immediate persons in food industries to the food safety, and specify the duty of each supervision departments on food safety, as well as strengthen the mechanism of food safety law, the Food Safety Law of the People’s Republic of China (hereinafter refers to the Law) was approved by the National People’s Congress (“the NPC”) on February 28th, 2009, and it shall be effective on June 1st, 2009. The law consolidates hundreds of regulations and standards covering the country’s 500,000 food-processing companies. |
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SAIC Promulgated the Administrative Measure of Capital Contribution |
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To cope with the economic slowdown resulting from international financial crises, and maintain a steady development of the economy, On January 14th, 2009, the State Administration of Industry and Commerce (the SAIC) announced the Administrative Measure for the Registration of Capital Contribution by Equity Stock (hereinafter refers to the Administrative Measure or the Measures) which has been in force since 1st March 2009. |
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New Amendment for Insurance Law of the People’s Republic of China |
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Insurance Law of the People’s Republic of China has been amended at the 7th session of the Standing Committee of the 11th National People’s Congress of the People’s Republic of China on February 28, 2009 and the new version shall come into force on October 1, 2009. |
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Supreme Court Promulgated and Implemented the Judicial Interpretation on Application of Statute of Limitations for Trials of Civil Cases |
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The Supreme People’s Court has promulgated and implemented the Provisions on Several Issues concerning the Application of Statutory Limitation for the Trial of Civil Cases at September 1, 2008. This is the first specific judicial interpretation on statute of limitations in China (the “Judicial Interpretation”). It contains 24 articles, regulating the commencement, interruption, suspension and effect of the statute of limitation, and elaborates the general provisions and supplemental provisions on the statute of limitation systematically and comprehensively. |
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China's Value Added Tax Transformation Reform in 2009 |
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On the date of November 11th, 2008, Mr. Wen Jiabao, Premier of the State Council of the People’s Republic of China, convened and chaired the State Council’s Executive Conference, planning the further step of expanding domestic demand and boosting the stable economic development, upon which the continued reform of the Value Added Tax (hereinafter refers to the VAT) was one of the significant aspects. In order to improve the VAT system, the Interim Regulations of the People’s Republic of China on Value Added Tax was revised and approved by the State Council on the same day and would be effective on January 1st, 2009. |
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The Third Amendment of PRC Patent Law |
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The third amendment of PRC Patent Law (new Patent Law) has adopted at the 6th Session of Standing Committee of the 11th National People’s Congress of the People’s Republic of China on December 27, 2008, and shall come into force at October 1, 2009. The relevant Implementing Regulations are currently under the corresponding revision. Compared with the current patent law, which was adopted in 2000, the new patent law differs in the below aspects: |
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