JC Master Legal News Issue 948

Key Takeaways for This Issue

Measures for the Administration of the Science and Technology Innovation Board Listing Committee of the Shanghai Stock Exchange

To implement the requirements of the new Securities Law, further advance the pilot reform of the registration-based system on the STAR Market, and more effectively standardize and improve the review process for issuance and listing, thereby enhancing the quality of listed companies at the source, with the approval of the China Securities Regulatory Commission, the Shanghai Stock Exchange today released the newly revised “Shanghai Stock Exchange Rules for the Review of Issuance and Listing of Stocks on the STAR Market” (hereinafter referred to as the “Review Rules”) and the “Administrative Measures for the STAR Market Listing Committee of the Shanghai Stock Exchange” (hereinafter referred to as the “Listing Committee Administrative Measures”).

The Boao Forum for Asia has released its first innovation report.

The Boao Forum for Asia Innovation Report 2020 was released in Beijing on December 2, 2020. This marks the first thematic report issued by the Boao Forum for Asia focusing on scientific and technological innovation. The report highlights that Asia, particularly East Asia, is emerging as one of the world’s most dynamic regions in terms of innovation. China’s international competitiveness and global standing have risen rapidly, making it the only middle-income economy to rank among the top 30 in the Global Innovation Index.

Administrative Measures for the Value-Added Tax Refund on International Transport Vessels

In accordance with the “Notice of the Ministry of Finance, the Ministry of Transport, and the State Taxation Administration on Value-Added Tax Policies Relating to International Shipping Vessels in the Hainan Free Trade Port” (Cai Shui [2020] No. 41) and the “Notice of the Ministry of Finance, the Ministry of Transport, and the State Taxation Administration on Value-Added Tax Policies Relating to International Shipping Vessels in the Lingang New Area of the China (Shanghai) Pilot Free Trade Zone” (Cai Shui [2020] No. 52), the State Taxation Administration has formulated the “Administrative Measures for the Refund of Value-Added Tax on International Shipping Vessels,” which were promulgated on December 2, 2020.

Notice of the Ministry of Civil Affairs on Implementing the Provisions Concerning Marriage Registration in the Civil Code of the People’s Republic of China

As 2020 draws to a close, the Civil Code of the People’s Republic of China will officially come into force on January 1, 2021. The Civil Code introduces new provisions regarding a cooling-off period for divorce by mutual agreement; how, then, will these be implemented in practice? To address this, the State Council issued the “Notice on Implementing Relevant Provisions on Marriage Registration” on November 24, 2020, to revise and refine the procedures governing marriage registration.