JC Master Legal News Issue 949

Key Takeaways for This Issue

Announcement on Launching a Special Campaign for Corporate Governance of Listed Companies

On the 11th, the China Securities Regulatory Commission announced that it will launch a special campaign on corporate governance of listed companies, effective immediately. Over the next two years, by focusing on key areas, addressing shortcomings, and strengthening weak links, the campaign aims to elevate the overall level of corporate governance among listed companies, further improve their governance structures, and lay a solid foundation for high-quality development.

Continuously optimizing the business environment to inject vitality into the economy.

In the year marking the completion of building a moderately prosperous society in all respects and the conclusion of the 13th Five-Year Plan, the Chinese government has steadfastly regarded optimizing the business environment as a key pillar for promoting high-quality economic development. Meanwhile, all regions and departments have pooled their efforts, leveraging the “delegation, regulation, and service” reform as a driving force to continuously improve the business climate.

Announcement on Matters Relating to the Pre-Tax Deduction of Advertising and Business Promotion Expenses

On the 9th, the Ministry of Finance and the State Taxation Administration issued the “Announcement on Matters Relating to the Pre-Tax Deduction of Advertising Expenses and Business Promotion Expenses” (hereinafter referred to as the “Announcement”), which clarifies the relevant provisions governing the pre-tax deduction of such expenses. The Announcement shall be effective from January 1, 2021, to December 31, 2025.

Interpretation (I) of the Supreme People’s Court on Several Issues Concerning the Application of Law in the Trial of Civil Disputes Involving Food Safety

The Interpretation of the Supreme People’s Court on Several Issues Concerning the Application of Law in the Trial of Civil Disputes Involving Food Safety (I) was adopted at the 1813th Meeting of the Judicial Committee of the Supreme People’s Court on October 19, 2020. It is hereby promulgated and shall enter into force as of January 1, 2021.