JC Master Legal News Issue 945

Key Takeaways for This Issue

The China Securities Regulatory Commission convened a mobilization and deployment meeting to implement the State Council’s “Opinions on Further Enhancing the Quality of Listed Companies.”

On November 10, the China Securities Regulatory Commission convened a mobilization and deployment meeting to implement the State Council’s “Opinions on Further Enhancing the Quality of Listed Companies” (hereinafter referred to as the “Opinions”), launching an in-depth mobilization and comprehensive plan for the CSRC system to earnestly advance efforts to improve the quality of listed companies. Comrade Yi Huiman, Party Secretary and Chairman of the Commission, attended the meeting and delivered a speech. The meeting emphasized that enhancing the quality of listed companies is a concrete measure to implement the major decisions and arrangements of the CPC Central Committee and the State Council regarding the capital market; it is an intrinsic requirement for the high-quality development of the capital market, an inevitable imperative for the capital market to support the new development paradigm, and a top priority in the ongoing process of comprehensively deepening reform of the capital market. It is essential to gain a profound understanding of the requirements for improving the quality of listed companies under the registration-based system, to ground our work in China’s national conditions and the current stage of capital market development, to take proactive measures and fulfill our duties conscientiously, and to ensure that the task of enhancing the quality of listed companies is carried out effectively and with solid results.

Decision of the Standing Committee of the National People’s Congress on Amending the Copyright Law of the People’s Republic of China

The Decision of the Standing Committee of the National People’s Congress on Amending the Copyright Law of the People’s Republic of China was adopted at the 23rd Meeting of the Standing Committee of the 13th National People’s Congress of the People’s Republic of China on November 11, 2020. It is hereby promulgated and shall enter into force on June 1, 2021.

Fully leverage the functions and roles of taxation to actively support the comprehensive building of a modern socialist country.

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.

Opinions of the Supreme People’s Court on Supporting and Safeguarding Shenzhen’s Development as a Pilot Demonstration Zone for Socialism with Chinese Characteristics

In order to thoroughly study and implement Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully carry out the spirit of General Secretary Xi Jinping’s important speech at the celebration marking the 40th anniversary of the establishment of the Shenzhen Special Economic Zone, and implement the “Opinions of the CPC Central Committee and the State Council on Supporting Shenzhen in Building a Pilot Demonstration Zone for Socialism with Chinese Characteristics” (hereinafter referred to as the “Opinions”) as well as the “Implementation Plan for the Comprehensive Reform Pilot Program for Building a Pilot Demonstration Zone for Socialism with Chinese Characteristics in Shenzhen (2020–2025)” issued by the General Office of the CPC Central Committee and the General Office of the State Council (hereinafter referred to as the “Implementation Plan”), and to give full play to the role of judicial functions in providing lawful support for Shenzhen’s development as a pilot demonstration zone for socialism with Chinese characteristics, the following opinions are hereby formulated in light of the actual work of the people’s courts.