JC Master Legal News Issue 933

Key Takeaways for This Issue

Notice on Soliciting Public Comments on the “Administrative Provisions (Trial) on the Use of Third-Party Online Platforms by Securities Companies to Conduct Securities Business Activities”

To standardize securities companies’ use of third-party online platforms for conducting securities business, maintain order in the securities market, and protect the legitimate rights and interests of investors, our Commission has drafted the “Administrative Provisions on Securities Companies’ Use of Third-Party Online Platforms to Conduct Securities Business (Trial),” which is now open for public comment. Please submit any comments or suggestions, in paper form or by email, to the Department of Supervision of Securities and Fund Institutions of the China Securities Regulatory Commission no later than September 15, 2020.

Announcement on the Amendment to the “Detailed Rules for Review of the National Equities Exchange and Quotations System for Small and Medium-sized Enterprises”

To improve the market‑based self‑regulatory relief mechanisms and safeguard the legitimate rights and interests of all participating entities, the National Equities Exchange and Quotations Co., Ltd. (hereinafter referred to as the NEEQ) has amended the “Detailed Rules for Review Procedures of the National Equities Exchange and Quotations System,” originally issued on June 14, 2019. The revised rules are hereby promulgated, and the amendments shall take effect from the date of their publication. With respect to decisions rendered by the NEEQ prior to the date of this announcement, the time limit for filing a review application shall be governed by the original rules.

Tax big data reveals new highlights in economic development.

Since the beginning of this year, tax authorities have resolutely implemented the decisions and arrangements of the CPC Central Committee and the State Council, promptly ensuring the full and meticulous rollout of tax and fee reduction policies and measures. In the first half of the year, nationwide cumulative tax and fee reductions totaled RMB 1.5045 trillion. Tax‑related big data have revealed several new bright spots in economic development.

Provisions of the Supreme People’s Court on Several Issues Concerning the Review of Appraisals Entrusted in Civil Litigation by the People’s Courts

In order to further standardize the conduct of expert appraisal in civil litigation and promote judicial fairness, this Regulation is formulated in accordance with the provisions of the Civil Procedure Law of the People’s Republic of China, the Interpretations of the Supreme People’s Court on the Application of the Civil Procedure Law of the People’s Republic of China, the Several Provisions of the Supreme People’s Court on Evidence in Civil Litigation, and other relevant laws and judicial interpretations, taking into account the actual practices of the people’s courts.