JC Master Legal News Issue 944

Key Takeaways for This Issue

The China Securities Regulatory Commission and the Supreme People’s Procuratorate have jointly released typical cases of securities-related crimes.

On November 6, 2020, the China Securities Regulatory Commission (CSRC), in collaboration with the Supreme People’s Procuratorate, released twelve typical cases of securities-related illegal and criminal activities. This joint release of exemplary cases represents a key measure by the CSRC to implement General Secretary Xi Jinping’s important instructions and directives on the reform and development of the capital market, to study and apply the spirit of the Fifth Plenary Session of the 19th CPC Central Committee, to fulfill the Financial Stability and Development Committee’s requirement of “zero tolerance” toward illegal and criminal conduct in the capital market, and to put into practice the Memorandum of Understanding on Strengthening the Rule of Law in the Capital Market jointly formulated by the two agencies.

The Shanghai Stock Exchange has formulated the “Three-Year Action Plan to Enhance the Quality of Listed Companies on the Shanghai Market.”

Recently, the Shanghai Stock Exchange has formulated the “Three-Year Action Plan to Enhance the Quality of Listed Companies on the Shanghai Market,” outlining a detailed timetable and roadmap for the exchange’s initiatives.

The central bank released a report stating that China’s financial risks are generally under control.

The People’s Bank of China recently released the “China Financial Stability Report (2020),” which provides a comprehensive assessment of the resilience of China’s financial system since 2019. The report concludes that, since 2019, the global political and economic landscape has grown increasingly complex and challenging, leading to heightened external uncertainties for China’s economy and financial system.

Export goods returned due to force majeure caused by the pandemic may be eligible for applicable tax relief.

With the approval of the State Council, the Ministry of Finance, the General Administration of Customs, and the State Taxation Administration recently jointly issued an announcement clarifying the tax treatment for export goods returned due to force majeure arising from the COVID‑19 pandemic.