JC Master Legal News Issue 917

Key Takeaways for This Issue

The China Banking and Insurance Regulatory Commission has issued the “Notice on Doing a Good Job in Key Tasks for Serving the ‘Three Rural Areas’ in the Banking and Insurance Sectors in 2020.”

In accordance with the guiding principles of the Central Economic Work Conference and the Central Rural Work Conference, and in line with the work arrangements set forth in the “Opinions of the CPC Central Committee and the State Council on Prioritizing Key Tasks in the ‘Three Rural Issues’ Sector to Ensure the Timely Achievement of a Moderately Prosperous Society in All Respects,” the China Banking and Insurance Regulatory Commission recently issued the “Notice on Doing a Good Job in Key Areas of Banking and Insurance Services for the ‘Three Rural Issues’ in 2020” (CBIRC Office Document [2020] No. 31, hereinafter referred to as the “Notice”).

The Ministry of Commerce has issued Guiding Opinions on Coordinating and Advancing Key Tasks for Promoting Consumption within the Commerce System.

The Ministry of Commerce recently issued Guiding Opinions on Coordinating and Advancing Key Tasks to Promote Consumption across the commercial sector. The document calls on the commerce authorities of all provinces, autonomous regions, municipalities directly under the central government, cities separately listed for planning purposes, the Xinjiang Production and Construction Corps, and sub-provincial capital cities to, amid routine epidemic prevention and control measures, accelerate the resumption of work and production, reopen businesses and markets, expand household consumption, unleash domestic demand, minimize losses caused by the pandemic, and strive to fulfill the year’s commercial development objectives. The Opinions stipulate:

Three departments have clarified the policy regarding the exemption of vehicle acquisition tax for new energy vehicles.

To support the development of the new-energy vehicle industry and boost automobile consumption, the Ministry of Finance, the State Taxation Administration, and the Ministry of Industry and Information Technology jointly issued an announcement on April 22, clarifying the policy on exempting new-energy vehicles from the vehicle acquisition tax.

The Supreme People’s Court, the Supreme People’s Procuratorate, and the Ministry of Public Security have jointly issued guidelines to handle criminal cases involving manhole covers in accordance with the law and in a proper manner.

To punish, in accordance with the law, crimes involving manhole covers and to safeguard public safety and the legitimate rights and interests of the people, the Supreme People’s Court, the Supreme People’s Procuratorate, and the Ministry of Public Security recently jointly issued the “Guiding Opinions on Handling Criminal Cases Involving Manhole Covers” (hereinafter referred to as the “Opinions”), thereby promoting comprehensive governance of manhole cover issues and effectively ensuring the safety of the public’s “footsteps.”

National Bureau of Statistics: New forms of consumption will demonstrate even stronger performance.

On April 17, the National Bureau of Statistics released data on China’s economic performance for the first quarter of 2020. The figures show that total retail sales of consumer goods amounted to RMB 7.858 trillion in the first quarter, down 19.0% year on year.