JC Master Legal News Issue 926

Key Takeaways for This Issue

The China Banking and Insurance Regulatory Commission has issued the “Administrative Penalty Measures of the China Banking and Insurance Regulatory Commission.”

To standardize and unify the administrative penalty procedures for the banking and insurance sectors following institutional reforms, increase the cost of financial violations, rigorously address disorderly practices in the financial market, and prevent and defuse financial risks, the China Banking and Insurance Regulatory Commission recently issued the “Administrative Penalty Measures of the China Banking and Insurance Regulatory Commission.”

The National Development and Reform Commission has issued the “Special Management Measures for Foreign Investment Access (Negative List) (2020 Edition).”

Pursuant to Order No. 32 of the National Development and Reform Commission of the People’s Republic of China and the Ministry of Commerce of the People’s Republic of China, the “Special Management Measures for Foreign Investment Access (Negative List) (2020 Edition)” has been approved by the CPC Central Committee and the State Council and is hereby promulgated, entering into force as of July 23, 2020.

The Resident Inspectorate of the State Taxation Administration: Strengthening Follow-up Oversight to Ensure Effective Implementation of Tax and Fee Reduction Policies

Recently, in accordance with the recommendations of the Discipline Inspection and Supervision Group of the Central Commission for Discipline Inspection and the National Supervisory Commission stationed at the State Taxation Administration, the State Taxation Administration has strengthened internal oversight of the implementation of tax‑reduction and fee‑reduction policies within the tax system, treating it as a critical component of policy execution. The Administration is officely addressing any attempts to broaden or narrow the scope of policy application, strictly preventing unauthorized interference with taxpayers’ and payers’ access to preferential policies, and ensuring that the central government’s tax‑reduction and fee‑reduction measures are fully implemented.

The draft of the Eleventh Amendment to the Criminal Law has been submitted for deliberation, bringing COVID-19 and other conditions within the scope of regulation under the crime of obstructing infectious disease prevention and control.

On the 28th, the draft of the Eleventh Amendment to the Criminal Law was submitted to the Standing Committee of the National People’s Congress for deliberation. The draft strengthens criminal-law safeguards for public health by revising the crime of obstructing infectious disease prevention and control, bringing infectious diseases—such as COVID‑19—that have been legally designated as subject to Class A infectious disease management measures—within the scope of this offense.