JC Master Legal News Issue 1027

Key Takeaways for This Issue

The China Securities Regulatory Commission and the Ministry of Finance have jointly issued the “Provisions on Matters Concerning the Priority Use of the Property of Persons Who Have Committed Securities Law Violations to Assume Civil Liability for Damages.”
In order to implement the feedback from the Central Inspection, uphold the development philosophy of putting the people at the center, ensure the effective application of the principle that civil compensation liability takes priority, and earnestly safeguard the legitimate rights and interests of investors, the China Securities Regulatory Commission and the Ministry of Finance, in accordance with the Securities Law of the People’s Republic of China, the Implementing Rules of the Regulations on the State Treasury of the People’s Republic of China, and other relevant provisions, have jointly formulated the “Provisions on Matters Relating to the Priority Use of the Property of Persons Who Have Committed Securities Violations to Assume Civil Compensation Liability,” which shall take effect from the date of its promulgation.
The Shanghai Stock Exchange has officially released the Detailed Rules for Trading Convertible Corporate Bonds and the Self-Regulatory Supervision Guidelines.
To implement the requirements of the Measures for the Administration of Convertible Corporate Bonds, further standardize all business activities related to convertible corporate bonds by listed companies, promote the high-quality development of the convertible bond market, and safeguard the legitimate rights and interests of investors, the Shanghai Stock Exchange, under the overall coordination and guidance of the China Securities Regulatory Commission, has preliminarily drafted the Detailed Rules for the Trading of Convertible Corporate Bonds of the Shanghai Stock Exchange and the Self-Regulatory Supervision Guideline No. 12 of the Shanghai Stock Exchange for Listed Companies—Convertible Corporate Bonds, and has publicly solicited comments. On July 29, 2022, the Shanghai Stock Exchange officially promulgated these rules.
The Ministry of Commerce and 26 other departments have jointly issued the “Opinions on Promoting High-Quality Development of Foreign Cultural Trade.”
Recently, with the approval of the State Council, 27 departments, including the Ministry of Commerce and the Publicity Department of the CPC Central Committee, jointly issued the “Opinions on Promoting High-Quality Development of Foreign Cultural Trade.”
The value-added tax credit refund policy has been effectively implemented, providing tangible relief to businesses and helping them overcome difficulties.
This year, the CPC Central Committee and the State Council made the strategic decision to implement a new package of tax and fee support policies. Among these measures, the large-scale value-added tax (VAT) credit refund policy stands out as a key initiative for stabilizing the overall economy. Effective April 1, the new VAT credit refund policy has been officially put into practice, initially covering small and micro enterprises across the board and prioritizing six major sectors, including manufacturing, before being expanded in due course to seven additional industries. The policy’s effectiveness is becoming increasingly evident.

Finance & Capital Markets
The China Securities Regulatory Commission and the Ministry of Finance have jointly issued the “Provisions on Matters Concerning the Priority Use of the Property of Persons Who Have Committed Securities Law Violations to Assume Civil Liability for Damages.”
To implement the feedback from the Central Inspection and to put into practice the development philosophy of putting the people at the center, to ensure the effective application of the principle that civil compensation liability takes priority, and to earnestly safeguard the legitimate rights and interests of investors, in accordance with the Securities Law of the People’s Republic of China, the Implementing Rules of the Regulations on the State Treasury of the People’s Republic of China, and other relevant provisions, the China Securities Regulatory Commission and the Ministry of Finance have jointly formulated the “Provisions on Matters Relating to the Priority Use of the Property of Persons Who Have Committed Securities Law Violations to Fulfill Civil Compensation Obligations” (hereinafter referred to as the “Provisions”), which shall take effect from the date of their promulgation.
The Regulations were publicly released for public comment from March 11 to April 10, 2022, and received overwhelmingly positive feedback. During this period, a total of 28 comments were submitted; the China Securities Regulatory Commission, in coordination with the Ministry of Finance, reviewed each one carefully and duly incorporated relevant suggestions. The Regulations comprise fourteen articles, covering key aspects such as the eligible applicants, application deadlines, required documentation, and procedural steps, and they establish a specific mechanism for allocating administrative fines and confiscations paid by violators to meet civil compensation obligations.
The principle of priority for civil liability is enshrined in multiple legal domains; the Regulations are the first to implement it specifically in the securities sector, which carries significant and positive implications for safeguarding investors’ legitimate rights and interests. The issuance of these Regulations represents an important step in putting into practice the people-centered development philosophy and in earnestly advancing the “Doing Practical Things for the People” campaign. It also responds to evolving legal conditions in the capital market and addresses the pressing need to effectively protect investors’ lawful rights and interests. With the refinement of the civil compensation regime under the Securities Law, the promulgation of judicial interpretations on securities class actions, the amendment of the judicial interpretation on civil compensation for false statements, and the entry into force of these Regulations, a Chinese‑style civil compensation system for securities matters—covering everything from adjudicatory standards and litigation procedures to mechanisms for ensuring compensation—has essentially taken shape.
Going forward, the China Securities Regulatory Commission and the Ministry of Finance will earnestly implement the requirements of the Regulations, strive to ensure that this important initiative is carried out effectively, and safeguard the legitimate rights and interests of investors.

The Shanghai Stock Exchange has officially released the Detailed Rules for Trading Convertible Corporate Bonds and the Self-Regulatory Supervision Guidelines.
To implement the requirements of the Measures for the Administration of Convertible Corporate Bonds, further standardize the various business activities related to convertible corporate bonds (hereinafter referred to as “convertible bonds”) by listed companies, promote the high-quality development of the convertible bond market, and safeguard the legitimate rights and interests of investors, under the unified guidance of the China Securities Regulatory Commission, the Shanghai Stock Exchange (hereinafter referred to as “SSE”) has previously drafted the Detailed Rules for the Trading of Convertible Corporate Bonds of the Shanghai Stock Exchange (hereinafter referred to as the “Trading Rules”) and the Self-Regulatory Guidance No. 12 of the Shanghai Stock Exchange for Listed Companies—Convertible Corporate Bonds (hereinafter referred to as the “Self-Regulatory Guidance”), and publicly solicited comments. Overall, market participants have expressed strong support for the institutional framework and key provisions of these rules, while also offering a number of suggestions and recommendations. The SSE has carefully reviewed these inputs, incorporated and adopted some of the feedback, and officially promulgated the relevant rules on July 29, 2022.
The “Trading Rules” are tailored to the characteristics of convertible bonds, optimizing trading mechanisms and strengthening regulatory oversight. While allowing appropriate pricing flexibility, they also reinforce risk controls, helping to curb excessive speculation and promoting the healthy, long-term development of the convertible bond market. The key provisions include: First, clarifying price fluctuation limits. On the first day of listing, convertible bonds will be subject to daily price limits ranging from –43.3% to +57.3%, with intraday temporary suspension mechanisms at 20% and 30% thresholds; starting from the second day, a uniform 20% daily price limit will apply. Second, introducing criteria for abnormal and severely abnormal price movements. In conjunction with the revised price limits, new standards have been established for identifying abnormal and severely abnormal price fluctuations in convertible bonds. Additionally, the Exchange may, based on the severity of such fluctuations and regulatory needs, require listed companies to issue announcements on abnormal price movements or suspend trading for verification. Third, strengthening trading supervision. Taking into account the unique features of convertible bond trading and the need to prevent speculative practices, additional categories of abnormal trading behaviors have been added, with further clarification of supervisory requirements. Fourth, introducing a special identifier. On the last trading day of a convertible bond, a “Z” prefix will be added to the security’s abbreviated name, clearly alerting investors to potential risks and effectively safeguarding their legitimate rights and interests. Fifth, revising relevant terminology in accordance with bond‑trading rules—for example, replacing “auction trading” with “matched trading.”
The “Self‑Regulatory Guidelines” place information disclosure at their core, further refining the rules governing convertible bond listing and trading, share conversion, redemption, put options, and other related activities and disclosure practices. They address emerging situations and issues in practice through targeted, systematic regulations, while implementing multiple measures to safeguard investor interests. Based on public feedback, the SSE has incorporated suggestions to improve procedures for revising the conversion price, thereby fully addressing market concerns. The key provisions of the “Self‑Regulatory Guidelines” include: First, strengthening information‑disclosure requirements. Companies are required to issue advance notice five trading days before they anticipate triggering either a redemption event or a conversion‑price‑adjustment condition, and to convene a board meeting on the day such conditions are triggered to promptly decide whether to proceed with redemption or adjust the conversion price. Failure to comply with the prescribed deliberation procedures and disclosure obligations will be treated as a waiver of the redemption right or a refusal to adjust the conversion price, thereby clarifying investor expectations. Second, optimizing the timelines for redemption and put‑back transactions. The preparation period for put‑back transactions is capped at no more than 15 trading days, accelerating the return of investors’ capital. Following a decision to redeem, companies must allow sufficient time for investors to trade or convert their bonds; moreover, after trading in the convertible bond is suspended, an additional three trading days must be provided for continued conversion, helping investors avoid unnecessary losses. In addition, the “Self‑Regulatory Guidelines” retain the existing provisions applicable to targeted convertible bonds and introduce corresponding institutional arrangements to tighten oversight of short‑term trading, reinforce the responsibilities of intermediary institutions, and enhance risk‑warning mechanisms. Concurrently, the SSE has revised the relevant announcement formats for convertible bonds listed on the Main Board and the STAR Market, adding new templates for disclosures regarding abnormal and severely abnormal trading volatility. These revisions aim to guide listed companies in accurately interpreting and applying the rules governing convertible‑bond transactions, standardize the preparation of related announcements, and enhance the relevance and effectiveness of convertible‑bond‑related information disclosure.
In addition, to facilitate the implementation of the aforementioned institutional arrangements, the Shanghai Stock Exchange will soon adopt the following measures. First, it will strengthen oversight of abnormal trading activities by refining internal monitoring standards in accordance with the Trading Rules, enhancing analysis and assessment of algorithmic trading, and developing targeted monitoring indicators for such activities. For trades that trigger thresholds for abnormal or severe volatility, stringent regulatory measures will be imposed, and relevant requirements for mandatory trading halts will be fully enforced. Second, member offices’ responsibilities for client management will be reinforced. Members will be urged to enhance front‑end monitoring and surveillance of convertible bond trading; should members fail to fulfill their duties, the Exchange will promptly take appropriate actions, including, where necessary, conducting off‑site or on‑site inspections. Third, transparency in regulatory information disclosure will be strengthened by promptly publishing, via its official website, WeChat, Weibo, and other channels, a list of convertible bonds subject to enhanced monitoring.
The aforementioned institutional arrangements do not involve adjustments to primary‑market financing policies, nor do they impede the normal functioning of the convertible bond market as a financing channel, and they will not weaken support for the real economy, particularly small and medium‑sized private listed companies. Going forward, the Shanghai Stock Exchange will continue to uphold the principles of “establishing sound systems, non‑interference, and zero tolerance,” remain committed to market‑oriented and law‑based reform, and, in accordance with the unified deployment of the China Securities Regulatory Commission, strengthen the institutional framework, safeguard trading order, enhance routine supervision, resolutely crack down on illegal and non‑compliant activities, and steadily promote the high‑quality development of the convertible bond market, thereby better fulfilling its role in serving the real economy.

The first batch of Shanghai-listed companies have successfully listed on the Swiss market through the Connect Depositary Receipt program.
On July 28, with the official launch of the China–Switzerland securities market interconnectivity program for depositary receipts, Shanghai-listed Keda Manufacturing Co., Ltd. (600499.SH, hereinafter “Keda Manufacturing”) and Ningbo Shanshan Co., Ltd. (600884.SH, hereinafter “Shanshan Shares”) successfully issued and listed global depository receipts (GDRs) on the SIX Swiss Exchange (hereinafter “SIX”). This marks the first batch of Shanghai‑listed companies to list on SIX following the expansion of the interconnectivity depositary receipt scheme to the Swiss market. Specifically, Keda Manufacturing’s GDRs were priced at USD 14.43 per share, raising a total of USD 173 million, while Shanshan Shares’ GDRs were priced at USD 20.64 per share, raising a total of USD 319 million. The proceeds from these offerings will be used to expand the companies’ overseas operations.
The successful launch of the China–Switzerland securities market interconnectivity program for depositary receipts will effectively link the two markets, further promote the sharing of market‑wide resources and factors of production, and support the global strategic expansion of high‑quality Shanghai‑listed companies. Going forward, the SSE, under the unified leadership of the China Securities Regulatory Commission, will steadfastly advance institutional, two‑way opening-up of the capital market. Leveraging the interconnectivity platform, it will continue to provide robust market services for cross‑border listings by both domestic and overseas issuers and deepen cooperation between the Shanghai and Swiss capital markets.
Securities offices are accelerating their expansion into institutional business, with the derivatives market emerging as a key battleground.
Reorganize the organizational structure and strengthen institutional business.
By definition, China Merchants Securities states that institutional business is a customer-centric, restructured business model that serves licensed professional investment institutions, with service offerings encompassing trading, custody, research, and distribution.
At present, the trend toward institutionalization in the A-share market is gaining momentum. On the one hand, over recent years, the shareholding proportion of institutional investors has shown a clear upward trajectory. On the other hand, from a policy perspective, long-term capital sources such as insurance funds, pension funds, and bank wealth-management products are expected to continue increasing their allocation to equity assets. As the scale of institutional business expands alongside the growing base of institutional investors, it has increasingly become a key driver for securities offices to generate incremental revenue.
Against this backdrop, institutional business is gradually evolving into a new growth driver for securities offices. Several brokerage houses have stated that they will continue to deepen their “dual‑engine” development strategy—balancing wealth management and institutional services—while steadily enhancing their core competitiveness. In response to innovative business lines, offices such as Guotai Junan, Tianfeng Securities, Everbright Securities, and Hualin Securities have all restructured their organizational frameworks, including establishing new units like a Financial Innovation Headquarters, an Institutional Business Committee, and a Derivatives Division, as well as elevating certain departments to first‑level status. For securities offices, such organizational adjustments are often closely tied to major shifts in corporate strategy and other strategic imperatives.
Institutional investors now place higher demands on the professionalism and comprehensiveness of services. To further expand their market share, many securities offices have begun proactively reshaping their internal structures, consolidating premium resources, and integrating asset management, investment banking, research, and sales functions to create a closed-loop institutional‑business ecosystem. This approach enhances service efficiency and enables them to deliver more professional, comprehensive, and tailored solutions to institutional clients.
Meanwhile, on July 22, CSI 1000 index futures and options were officially launched. The introduction of these derivatives will provide hedging tools for small-cap stocks, help diversify hedging strategies, and attract additional capital, thereby boosting the business growth of securities offices.
Derivatives business is a key lever for securities offices to achieve differentiated competition.
 As a cyclical industry, securities offices’ performance is directly influenced by market conditions.
 Based on the performance forecasts and preliminary reports released by listed securities offices in the first half of the year, a sharp decline in proprietary‑trading revenues has weighed heavily on the results of many brokerage houses. Specifically, in the first quarter, the 41 listed securities offices collectively reported proprietary‑trading income of –RMB 2.103 billion, compared with RMB 32.819 billion in the same period last year. Among them, leading offices with robust institutional‑business operations—such as CITIC Securities, Huatai Securities, and CICC—experienced relatively muted impacts from market conditions on their proprietary‑trading revenues.
 Institutional business is large in scale, growing rapidly, with vast potential, a long value chain, significant complexity, and high value creation. By leveraging comprehensive services to build a robust business ecosystem, offices can strengthen customer loyalty, enhance overall profitability, and achieve steady earnings under controllable risk management.
 Among these, the key growth drivers for securities offices’ institutional clients are primarily innovative products such as derivatives. According to data from the China Securities Association, as of the end of 2021, the outstanding notional principal of over-the-counter (OTC) derivatives stood at RMB 2.016717 trillion, with a year-to-date cumulative increase of RMB 8.403801 trillion, up 76.56% year over year. Specifically, the outstanding notional principal of total return swaps reached RMB 1.026067 trillion, with a year-to-date cumulative addition of RMB 4.772735 trillion, representing a year-on-year rise of 121.46%; meanwhile, the outstanding notional principal of OTC options totaled RMB 990.65 billion, with a year-to-date cumulative increase of RMB 3.631066 trillion, up 39.41% compared with the previous year.
 On the evening of July 25, the board of directors of Guotai Junan approved upgrading the Equity Client Needs Department to a first-level division, tasked with organizing and conducting client‑focused businesses such as domestic and cross‑border equity‑related over-the‑counter derivatives. A year earlier, Guotai Junan had already begun restructuring its organizational framework by merging the Research and Institutional Business Committee and the Trading and Investment Business Committee into the Institutional and Trading Business Committee, which now oversees four first-level divisions: the Fixed Income, Foreign Exchange and Commodities Division, the Securities Derivatives Investment Division, the Asset Custody Division, and the Institutional Clients Division (renamed from the Sales and Trading Division).
Financial derivatives such as stock index options and total return swaps, owing to their structural characteristics, play a significant role in risk management. By constructing asset portfolios that incorporate these derivatives alongside underlying financial instruments, investors can hedge against broad market risks, thereby achieving a more favorable risk‑return profile. Today, the derivatives business has become a key lever for domestic securities offices to pursue differentiated competition, effectively enhancing the efficiency of capital utilization and boosting the overall return on equity across the industry. At present, China’s derivatives market remains in its early stages of development; going forward, the derivatives segment is expected to continue expanding, emerging as an important driver of earnings growth for the securities sector.
Commercial & Corporate
The Ministry of Commerce and 26 other departments have jointly issued the “Opinions on Promoting High-Quality Development of Foreign Cultural Trade.”
Recently, with the approval of the State Council, the Ministry of Commerce, the Publicity Department of the CPC Central Committee, and 25 other departments jointly issued the “Opinions on Promoting High-Quality Development of Foreign Cultural Trade” (hereinafter referred to as the “Opinions”).
The Opinions are guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and take the high-quality development of cultural trade with foreign countries as their central theme. They seek to strengthen top-level design and overall coordination, advance institutional and mechanism reforms and innovation in content and form, and promote both the expansion of the scale and the structural optimization of cultural trade abroad. Focusing on deepening reform and opening-up in the cultural sector, unleashing new momentum for innovative development, invigorating the vitality of market entities, broadening cooperation channels and networks, and reinforcing organizational support, the document sets out 28 specific tasks and measures—such as actively exploring pathways for high-standard opening-up, vigorously developing digital cultural trade, improving mechanisms for cultural trade cooperation, and enhancing facilitation—to inject fresh impetus into the development of cultural trade with foreign countries.
Going forward, the Ministry of Commerce will work with relevant departments and local authorities to ensure the effective implementation of policies and measures, further elevate the development of cultural trade with overseas markets, and better support the establishment of a new development paradigm.

R&D expense ratio exceeds industry平均水平; Zhiwei Intelligence is deeply engaged in the enterprise‑level market.
Zhiwei Intelligence was founded in 2011, with its core business encompassing the R&D, manufacturing, sales, and service of electronic products for education and office use, consumer applications, network equipment, cybersecurity, retail, and other sectors. According to reports, the funds raised will be primarily allocated to three projects: the Xiegang Zhiwei Intelligent Technology Project, the Shenzhen Zhiwei Intelligent Marketing Network Construction Project, and the Haining Zhiwei Intelligent Technology Co., Ltd. project to build a production base capable of annually manufacturing 320,000 switches, as well as to replenish working capital.
Deeply cultivate the enterprise market.
Zhiwei Intelligence focuses on providing customers with hardware solutions for smart‑scenario applications. Its products are positioned in the enterprise market while also serving the consumer segment. These offerings are widely deployed across numerous verticals, including government, telecom operators, the internet sector, finance, education, healthcare, energy, transportation, retail, manufacturing, and the personal consumer market.
According to the prospectus, from 2019 to 2021, revenue from Zhiwei Intelligence’s education and office products, as well as consumer products, collectively accounted for more than half of its total revenue, totaling RMB 1.044 billion, RMB 1.474 billion, and RMB 1.845 billion, respectively, representing 75.93%, 78.49%, and 73.07% of total revenue, respectively.
It is worth noting that Zhiwei Intelligence’s downstream customers are predominantly leading players or well-known enterprises in their respective niche markets. Taking the company’s top four customers in 2020 as an example, Honghe Technology is a leading office in the smart interactive‑display segment; Ruijie Networks ranked first in China’s cloud‑desktop enterprise‑grade VDI terminal market share in 2020; while Sangfor and H3C are also prominent names in mainland China’s cybersecurity and networking‑switch sectors, respectively.
“The expansion of the company’s business scope and the development of high‑quality clients have driven sustained improvement in its profitability,” the prospectus indicates. The company’s historical performance has generally maintained a robust growth trajectory. From 2019 to 2021, it reported operating revenues of RMB 1.397 billion, RMB 1.933 billion, and RMB 2.699 billion, respectively, along with net profits of RMB 88.51 million, RMB 146 million, and RMB 197 million, respectively.
R&D expense ratio exceeds industry平均水平
According to reports, Zhiwei Intelligence primarily relies on in-house manufacturing and, through an ODM (Original Design Manufacturing) model, provides downstream customers with motherboard and complete‑system products.
This model requires the company to possess robust R&D and design capabilities, advanced process‑technology expertise, and a deep understanding of both the industry and customer needs. Accordingly, the company must continuously strengthen its technological R&D capacity to better serve its customers, maintain stable partnerships with key clients, and deepen the level of collaboration with them.
According to the prospectus, from 2019 to 2021, Zhiwei Intelligence’s R&D expenses were RMB 78.7858 million, RMB 92.4945 million, and RMB 134 million, respectively, accounting for 5.64%, 4.79%, and 4.97% of its operating revenue, respectively. The company’s R&D expense ratio was significantly higher than the average level of its peer companies.
Leveraging its outstanding R&D capabilities, Zhiwei Intelligence was awarded the “Little Giant” designation under the Specialized, Sophisticated, and Novel program in 2021. Earning this prestigious title represents significant market recognition for the company’s business development and also positions it to benefit from enhanced local policy support, including preferential access to financial services.
According to reports, as of November 8, 2021, the company and its subsidiaries held 623 patents, including 9 invention patents, and 135 software copyrights. In addition, the company has mastered a total of 12 core technologies and is currently developing 11 product projects.
The industry is poised for a major growth opportunity.
As a provider of smart‑scene hardware solutions based on the Internet of Things, Zhiwei Intelligence is poised to seize robust growth opportunities. According to data from the China Business Industry Research Institute, China’s IoT market reached RMB 1.66 trillion in 2020, up 10.67% year over year. With ongoing policy support and continuous technological advancements, the IoT market is expected to keep expanding, reaching RMB 2.1 trillion by 2022.
“The supply chain for consumer electronics hinges on applications. Only groundbreaking applications can generate new demand and inject vitality into the entire industry chain. Therefore, it is essential to deepen exploration of downstream application scenarios, proactively cultivate and establish new ecosystem‑driven applications, expand the range of consumer‑electronics product categories, and diversify downstream demand in the electronics manufacturing sector—only then can we enhance the overall dynamism of the electronics manufacturing industry.”
In addition to the impact of market demand fluctuations on the company’s performance, in recent years, amid Sino‑U.S. trade tensions and the COVID‑19 pandemic, the company’s substantial inventory buildup has also contributed to a degree of cash‑flow strain.
Over the next two years, Zhiwei Intelligence will leverage its accumulated technology and expertise across education and office solutions, consumer electronics, networking equipment, cybersecurity, retail, and other electronic product segments. By capitalizing on the funds raised from this offering to finance new project development, the company will gradually expand its operations and further enhance its existing information systems. Additionally, it will allocate greater resources to the research and development of cutting-edge smart devices and, through continuous refinement of its sales model and optimization of its customer base, increase the market share of its products in each niche segment.
The 2022 Global Digital Economy Conference has kicked off, with Tianxiaxiu making a prominent appearance and taking the lead in its Internet 3.0 business strategy.
On July 28, the Internet 3.0 Summit of the 2022 Global Digital Economy Conference kicked off with great fanfare at the National Convention Center. With the theme “Blending the Virtual and the Real—The Future Has Arrived,” the summit focused on Internet 3.0, leveraged Beijing’s role as a global benchmark city for the digital economy, and explored key theoretical issues such as core technologies and industrial upgrading. Li Meng, founder and chairman of Tianxiaxiu, served as a corporate representative in the industry‑practice session and delivered a speech titled “The Creator Economy in the Era of Internet 3.0.”
This summit focuses on cutting-edge fields such as urban computing, the cultural and museum metaverse, the creator economy ecosystem, the digital collectibles industry chain, and virtual digital humans. Through knowledge sharing and discussions, it aims to accelerate the integration of the virtual and the real, foster the development of a robust digital ecosystem, and drive high-quality progress in Web3.0.
At the event, Liu Yinchun, Deputy Secretary-General of the Beijing Municipal People’s Government, stated: “Internet 3.0 presents new opportunities for the development of the software and information services sector, serving as a key focus and strategic priority in accelerating the building of Beijing into a global benchmark city for the digital economy. Beijing will aim to construct a digital‑economy‑driven metropolis, closely aligning with the capital’s strategic positioning, upholding both technological advancement and regulatory frameworks, balancing development with security, exploring innovative business models and new formats in the evolution of Internet 3.0, and proactively establishing a competitive technological ecosystem, dynamic industry models, and a governance framework that is both inclusive and prudent.”
At the summit, Li Meng, Chairman of Tianxiaxiu, delivered a speech titled “The Creator Economy in the Era of Internet 3.0.” The creator economy has evolved continuously alongside technological advancements—moving from the internet and mobile internet to short-form video and, ultimately, the metaverse. We believe that while these developments represent significant leaps in technology, the fundamental roles of users and creators have remained unchanged. Each major technological leap and wave of progress is aimed at ensuring that content creators can earn more equitable compensation and benefit from more efficient matching mechanisms.
 He noted that, for more than a decade, Tianxiaxiu has consistently focused on content creators, steadfastly pursuing its strategic goal of serving as a “super connector” within the creator‑economy ecosystem. Each year, it generates 3 to 5 billion yuan in revenue for content creators and is translating Web 3.0 use cases into real‑world commercial applications.
“Tianxiaxiu is the first company in China to launch a metaverse community, and this product is called Hongyu.,” Li Meng said on site. “In the future, Hongyu will also strive to become an integral part of the real economy, significantly boosting employment and driving us forward into new technologies. Riding the wave of the booming digital economy, Tianxiaxiu looks ahead and is fully prepared to embrace an even brighter future. We also invite everyone to experience Hongyu, bring more emerging content creators into its world, and help more users and merchants create their own personalized lifestyles.”
Taxation
People’s Finance Commentary: Over 2 trillion yuan in refunds have been credited, demonstrating the tangible effectiveness of measures to benefit businesses.
According to the latest data from the State Taxation Administration, as of July 20, the total amount of value-added tax credit refunds issued to taxpayers in 2022 has exceeded RMB 2 trillion—more than three times last year’s full-year refund total. The substantial policy benefits continue to be realized, delivering tangible savings and advantages to businesses.
“Real money” is flowing into accounts, helping small and micro enterprises regain new vitality. The carryforward VAT refund is a powerful, concrete measure this year to stabilize the macroeconomic landscape, and in terms of its impact, small and micro businesses are the primary beneficiaries. Since April, among taxpayers who have received refunds, small and micro enterprises account for 93.7% of the total, with cumulative refunds totaling RMB 795.1 billion—representing 42.4% of the overall amount. Cash flow is the lifeblood of any business. By delivering these refunds swiftly and precisely, the policy directly eases offices’ liquidity constraints, enabling them to cover payroll, maintenance costs, raw-material purchases, and other day-to-day operational needs. Faster cash recovery also gives enterprises the financial leeway and confidence to invest and pursue R&D, supporting upgrades and expansions in their operations. By acting proactively, this policy has played a positive role in alleviating difficulties, boosting confidence, and providing much‑needed relief to small and micro market entities.
According to VAT invoice data, in the second quarter, enterprises nationwide benefiting from the carryforward VAT refund saw a 12.3% year-on-year increase in expenditures on raw materials and other inputs, a growth rate 5.7 percentage points higher than that of enterprises without such refunds. In June, sales revenue of small and micro businesses across the country rose 5.8% year on year, up 3.2 percentage points from May.
A coordinated package of policies is building momentum, driving the rapid growth of new economic drivers. In the second quarter, sales revenue among specialized, refined, distinctive, and innovative “Little Giant” enterprises that received additional tax refunds increased by 16.5% year on year—10.5 percentage points higher than that of offices without such refunds. Behind this performance lies close collaboration across all levels of relevant departments, which have established mechanisms, formulated targeted measures, and streamlined channels to pool efforts in supporting enterprise development. From refining the list of “Little Giant” enterprises and providing tailored “one‑enterprise‑one‑file” and “one‑enterprise‑one‑policy” management services, to offering integrated assistance with prompt responses to requests and enabling direct access to solutions via a single QR code for complex issues, and further expanding service channels to achieve one‑stop resolution—these measures are continuously updated. The increasingly robust, comprehensive package of tax and fee support policies, particularly the large‑scale additional tax refund program, has helped businesses improve efficiency and navigate challenges, while unleashing fresh momentum among market entities.
The “add‑and‑subtract” approach to export tax rebates has played a positive role in ensuring the steady development of foreign trade. Efforts to help businesses overcome difficulties have focused on subtraction: in the second quarter, the average VAT credit refund per foreign‑invested enterprise exceeded RMB 5 million, with most recipients being large and medium‑sized manufacturing offices, thereby helping to stabilize expectations among foreign investors. Meanwhile, efforts to improve the business environment have emphasized addition: earlier, the tax authorities, together with the Ministry of Finance, the Ministry of Commerce, and seven other departments, rolled out 15 measures to support export tax rebates; recently, they have accelerated implementation of the policy to provide, on a temporary basis, refunds within three working days for enterprises with strong export‑tax‑rebate credit ratings. “In the past, repeatedly transmitting customs declaration data was cumbersome, and manual entry was prone to errors; now, not only is the export‑tax‑rebate filing process much simpler, but the processing time has been cut by nearly two‑thirds,” said the head of a Beijing‑based company, echoing the sentiments of many entrepreneurs.
Since the beginning of this year, the state has introduced a series of preferential policies on tax refunds, tax reductions, and tax exemptions. These policy measures—once mere written commitments—have been translated into tangible financial benefits, delivered to taxpayers and payers on the back of the “spring breeze” of convenient tax services, yielding concrete results that support businesses and improve people’s lives. Going forward, by continuing to implement robust, decisive measures and ensuring the thorough and meticulous execution of all tax and fee‑support policies, we will keep unlocking the full potential of these policies and further bolster macroeconomic stability.
A special survey by Lingdian Youshu shows that the value-added tax credit refund policy has effectively stabilized businesses and alleviated their difficulties.
This year, the CPC Central Committee and the State Council made the strategic decision to implement a new package of tax and fee support policies. Among these measures, the large-scale value-added tax (VAT) credit refund policy stands out as a key initiative for stabilizing the overall economy. Effective April 1, the new VAT credit refund policy has been officially put into practice, initially covering small and micro enterprises across the board and prioritizing six major sectors, including manufacturing, before being expanded in due course to seven additional industries. The policy’s effectiveness is becoming increasingly evident.
To assess the actual implementation of this policy, Lingdian Youshu conducted two specialized surveys on the processing of VAT credit refunds nationwide in May and June. The surveys were carried out via online questionnaires, covering 42,619 taxpayer enterprises across various industries, sizes, and registration types. The findings indicate that the VAT credit refund policy has effectively supported businesses and alleviated their difficulties. Comparing data from the two rounds of surveys, the proportion of taxpayers who expressed “very satisfied” with the policy rose from 93.9% in May to 94.1% in June; the share of those highly satisfied with the tax authorities’ service measures to facilitate policy implementation increased from 94.4% in May to 94.5% in June; and the percentage of taxpayers who received their refund within five working days of submitting a successful application climbed from 93.7% in May to 95.5% in June. These results demonstrate that, as implementation progresses, the policy’s impact is becoming increasingly evident, and taxpayer satisfaction continues to grow.
Precision outreach and guidance to enhance awareness of policies.
Policy outreach has achieved a high reach. According to survey data, taxpayers’ awareness of the large-scale value-added tax credit refund policy stands at 99.8%, demonstrating that the policy’s publicity efforts are both extensive and highly effective, thereby laying a solid foundation for its full implementation.
Precision‑targeted outreach has become the primary channel for public communication. Our survey reveals that, to ensure taxpayers are fully informed about relevant policies, tax authorities deliver policy details and procedural guidance through one‑on‑one, precision‑targeted notifications and reminders. Among the surveyed enterprises, more than 80% of taxpayers learned about policy information via telephone or text messages from the tax authorities, while over 70% received such updates through message push notifications on the electronic tax bureau platform.
Online tutoring has gained widespread popularity. Survey results show that 60% of taxpayers reported receiving training and guidance from tax authorities on VAT credit refund through live online sessions, with this proportion approaching 70% in the Northeast region, indicating that new digital channels are playing an increasingly prominent role in policy‑related training and support.
Information technology service measures ensure the efficiency of tax refunds.
Contactless tax services have become the norm. The State Taxation Administration’s electronic tax bureau has emerged as the primary channel for taxpayers to apply for and process tax refunds, with the vast majority of taxpayers submitting their refund applications through the platform. Moreover, 74.4% of taxpayers complete their refund procedures entirely online, demonstrating that the digitalization of this process has reached a high level.
The tax refund process is highly efficient. Survey data show that 94.6% of taxpayers reported receiving their refunds within five business days after successfully submitting their applications, demonstrating the high level of coordination and efficiency among local tax, finance, and treasury authorities.
The policy is highly substantive and effectively alleviates enterprises’ rigid constraints.
Policy implementation has enhanced enterprises’ sense of gain. Survey results show that more than 90% of taxpayers are satisfied with the value-added tax credit refund policy and related service measures. The refunded funds have effectively eased companies’ cash‑flow pressures: over 60% of large enterprises have received refunds exceeding RMB 5 million, and more than 70% of medium-sized enterprises have received refunds above RMB 500,000. Notably, 65.6% of small and micro enterprises reported that the credit refund funds have played a particularly significant role in alleviating their survival challenges amid the pandemic, further strengthening their sense of benefit.
Policy incentives have helped ease the operational pressures faced by businesses. By sector, manufacturing offices (62.8%) and power and heat‑supply companies (57%) primarily used the funds to increase real‑asset investment, such as fixed assets and raw materials; meanwhile, transportation offices (70%), software and information‑technology service providers (67%), and enterprises in ecological conservation and environmental governance (65.9%) allocated the proceeds mainly to routine expenditures like employee wages. This indicates that the carryforward VAT refund has provided crucial financial support to these industries, effectively alleviating their operational burdens.
While the large-scale value-added tax credit refund policy has been implemented smoothly and in an orderly manner, this survey also sought to hear taxpayers’ expectations and recommended that relevant national authorities further refine the policy design, continue to reinforce the taxpayer‑centered approach, pay closer attention to taxpayers’ actual needs and their tax‑filing experience, and further optimize the details of policy implementation.
First, we will consider moderately lowering the eligibility threshold for policy benefits. Based on taxpayers’ needs, we will appropriately relax the conditions for accessing these policies, thereby further broadening the scope of those who can benefit.
Second, we will enhance the convenience of taxpayers’ self‑selection. We will further strike a balance between policy implementation and taxpayers’ actual needs; for instance, if a taxpayer chooses to voluntarily waive a tax benefit, this can be done through a streamlined conofficeation process on the electronic tax bureau, thereby further improving the taxpayer experience.
Third, we will further enhance the digital and intelligent capabilities of policy implementation. On the one hand, by addressing the diverse needs of enterprises across various industry‑specific contexts and scales, we will develop more granular, AI‑driven applications for policy guidance and service delivery. On the other hand, we will strengthen proactive risk management, upgrade risk‑assessment algorithms, and better equip taxpayers with tools to mitigate potential risks.
Interpretation of the “Announcement of the Jiangsu Provincial Tax Service Bureau of the State Taxation Administration on Adjusting Matters Related to the Filing Deadline for Stamp Duty, among Others”
To implement the Stamp Tax Law of the People’s Republic of China, and in accordance with the relevant provisions of the State Taxation Administration’s Announcement on Matters Relating to the Implementation of the Stamp Tax Law of the People’s Republic of China (No. 14, 2022), the Jiangsu Provincial Tax Service of the State Taxation Administration has issued the “Announcement of the Jiangsu Provincial Tax Service of the State Taxation Administration on Adjusting the Tax Payment Deadline for Stamp Tax and Other Relevant Matters.” The following is an interpretation:
I. Background to the Issuance of This Announcement
The Stamp Tax Law of the People’s Republic of China has been in effect since July 1, 2022. In accordance with Article 16, Paragraph 1 of the Stamp Tax Law, stamp tax is levied on a quarterly, annual, or per‑transaction basis. Where taxation is assessed on a quarterly or annual basis, taxpayers shall file and pay the tax within fifteen days from the end of the relevant quarter or year; where taxation is assessed on a per‑transaction basis, taxpayers shall file and pay the tax within fifteen days from the date the tax liability arises.
Article 1, Paragraph 3 of the “Announcement of the State Taxation Administration on Matters Relating to the Implementation of the Stamp Tax Law of the People’s Republic of China” (No. 14, 2022) provides that stamp tax is levied on a quarterly, annual, or per‑transaction basis. For taxable contracts and instruments for the transfer of property rights, stamp tax may be declared and paid either quarterly or on a per‑transaction basis; for taxable business account books, stamp tax may be declared and paid either annually or on a per‑transaction basis. The specific tax payment deadlines shall be determined by the tax authorities of each province, autonomous region, municipality directly under the central government, and separately listed city, taking into account local administration and collection practices. As for taxable certificates issued by overseas entities or individuals, stamp tax may also be declared and paid on a quarterly, annual, or per‑transaction basis, with the specific tax payment deadlines likewise set by the tax authorities of each province, autonomous region, municipality directly under the central government, and separately listed city, in light of local administrative and collection conditions.
In accordance with the provisions of the aforementioned laws and regulations, the Jiangsu Provincial Tax Service has issued this announcement to specify matters such as the tax payment deadlines for stamp duty in our province.
II. Main Contents of the Announcement
(1) Clarify the tax payment deadline for stamp duty.
In accordance with the Regulations of the People’s Republic of China on Stamp Tax and the relevant provisions of the State Taxation Administration’s Announcement on Matters Relating to the Implementation of the Regulations of the People’s Republic of China on Stamp Tax, and in order to optimize the business environment while ensuring a smooth transition between old and new policies, this announcement clarifies the stamp tax payment deadlines applicable in our province. Specifically: stamp tax on taxable contracts and instruments for transfer of property rights may be declared and paid either quarterly or on a per‑transaction basis; stamp tax on taxable business account books may be declared and paid either annually or on a per‑transaction basis; and stamp tax on taxable certificates issued to overseas entities or individuals may be declared and paid quarterly, annually, or on a per‑transaction basis. To facilitate taxpayers’ stamp tax filings, taxpayers may choose their preferred payment period within the above‑stipulated ranges; once selected, such choice shall remain unchanged throughout the tax year.
(II) Review and repeal stamp tax documents in our province that no longer comply with applicable regulations.
In accordance with the Stamp Duty Law and its accompanying policy documents, our province has repealed those documents and certain provisions that are no longer applicable.
1. Article 4 of the Announcement on Matters Concerning the Clarification of Tax Payment Deadlines for Certain Taxes (Su Di Shui Gui [2013] No. 6) is hereby repealed.
2. The Notice of the Jiangsu Provincial Tax Service of the State Taxation Administration on Adjusting the Standards for Determining the Tax Base for Stamp Duty under the Assessed Collection Method (No. 19 of 2018) is hereby repealed in its entirety.
3. The Notice of the Jiangsu Provincial Tax Service of the State Taxation Administration on Implementing Combined Tax Filing for Property and Behavioral Taxes (No. 5, 2020) abolishes the “Detailed Schedule of Stamp Tax Tax Sources” attached to Annex 2.
III. Effective Date of the Announcement
This announcement shall take effect from the date of its issuance.

Litigation & Arbitration
A Review of Recent Military‑Related Judicial Assistance Work in Courts Nationwide
A strong country must have a strong military, and only a strong military can ensure national security. Providing robust legal safeguards for building a strong military and a prosperous nation is a vital mission of the people’s courts in their judicial assistance work related to the armed forces.
On November 24, 2020, six departments, including the Central Political and Legal Commission, the Supreme People’s Court, and the Ministry of Veterans Affairs, jointly issued the “Opinions on Strengthening Judicial Assistance for Veterans,” further clarifying the fundamental principles, objectives, scope, and working mechanisms of judicial assistance related to military personnel, thereby establishing an important guideline for support and assistance efforts in this area.
Since the issuance of the “Opinions,” courts nationwide have thoroughly implemented Xi Jinping’s Thought on Strengthening the Military and Xi Jinping’s Thought on the Rule of Law, actively advanced institutional development in military-related judicial assistance, effectively enhanced the quality of such assistance, and made every effort to safeguard the rights and interests of service members and their families, achieving remarkable results.
Enhance the quality and efficiency of case handling to ensure that military personnel and their families receive timely assistance.
In a case involving judicial assistance requested by Liu, a soldier serving with the troops stationed in Tibet, Liu’s father died in a traffic accident, and the at-fault party was unable to provide compensation. As a result, Liu’s mother and grandmother have been left to rely on one another, and the family has lost its source of livelihood.
In response to this exceptional situation, the Hebei Provincial Higher People’s Court attached great importance to the case and promptly established a “green assistance channel” for Liu and his family, swiftly disbursing over RMB 100,000 in relief funds. In May of this year, Liu’s unit sent a special letter of gratitude, commending the Hebei High People’s Court for “steadfastly upholding the authority of the rule of law, safeguarding the rights and interests of military personnel, and preserving the glorious tradition of supporting the military and honoring families of service members, thereby inspiring border defense officers and soldiers to take deeper root in the frontier regions and dedicate themselves selflessly.”
Prioritizing case handling, expediting review and conclusion, fully applying relevant policies, and ensuring timely disbursement—courts across the country, in processing judicial assistance cases involving the military, approach their work with sincere respect for the sons and daughters of the people, vigorously enhance case-handling efficiency, and proactively strengthen assistance efforts, thereby guaranteeing that service members and their families receive concrete protection of their rights and interests.
In the case of Xiao Moubin’s application for judicial assistance handled by the Intermediate People’s Court of Ji’an City, Jiangxi Province, the entire process—from filing the case to rendering the decision and disbursing the funds—took only five days. In another case, involving Xia Mouqing’s application for assistance handled by the Qingyuan People’s Court in Guangdong Province, the proceedings were expedited, with the decision rendered and the relief payment made within just two days. Meanwhile, in handling the application of Li Mougui at the Intermediate People’s Court of Huaihua City, Hunan Province, the court activated a fast-track approval and reporting mechanism, ensuring timely disbursement of the relief funds, thereby earning praise from both the parties concerned and the local Party committee and government.
During the course of his official duties, armed police officer Liu was injured in a collision with a sedan driven by Wu. He was diagnosed with an extremely severe open craniocerebral injury, multiple fractures throughout the body, and contusions of both lungs, among other injuries. The compensation awarded by the People’s Court has remained unenforceable, and following his work-related disability, Officer Liu has been able to subsist solely on the survivor’s benefits provided by the state.
Following a visit to Liu, the People’s Court of the Chengdu High-Tech Industrial Development Zone in Sichuan Province established a “green channel” to expedite and prioritize the case. Within five days, the matter was submitted to the Judicial Assistance Committee for deliberation, and the assistance payment of RMB 111,780 was promptly and efficiently disbursed.
People’s courts at all levels, within the bounds of the law, make full use of relevant policies to provide appropriate financial assistance in military‑related aid cases, thereby putting the principle of “providing assistance to all who qualify” into practice and maximizing the protection of rights and interests. For example, in Anhui, courts at all levels generally grant the maximum level of assistance available under the prescribed standards for military‑related aid cases.
A responsible official from the Compensation Office of the Supreme People’s Court stated that the people’s courts will further expand the scope of judicial protection for the rights and interests of military personnel and their families, strengthen the procedural coordination among judicial assistance, legal aid, and systems for reducing, deferring, or exempting litigation fees, and gradually shift from case-by-case coordination to institutional safeguards, ensuring that the rights of military personnel and their families in need receive comprehensive judicial protection. At the same time, the people’s courts will enhance the linkage between judicial assistance and other social security mechanisms, such as social assistance; building on the emergency relief function of judicial assistance, they will provide long-term social support to military personnel and their families who continue to face hardship, thereby fully leveraging the state’s role in “ensuring a basic safety net” and establishing a systematic framework for safeguarding the rights of military personnel and their families in need.
Actively fostering multi‑party collaboration to jointly ensure that judicial assistance for military personnel yields tangible results.
For military-related judicial assistance to play an even more effective role, it is essential to secure the broad participation of veteran affairs and civil affairs departments at all levels, as well as of social organizations and other stakeholders.
People’s courts have undertaken valuable initiatives to strengthen information sharing, establish coordinated working mechanisms, link up with social assistance programs, and harmonize military‑civilian relations, thereby joining forces with all sectors to safeguard the rights and interests of service members and their families and ensuring that they genuinely experience the warmth of justice.
In the case of an assistance application filed by retired serviceman Wang Mouzhang, the Nanchang People’s Court in Jiangxi Province proactively, on its own initiative, obtained relevant documents from departments responsible for veterans’ affairs, medical insurance services, and civil affairs. The court thoroughly assessed the applicant’s actual losses, medical condition, and family financial situation, and, within the existing institutional framework, fully leveraged applicable policies to grant the veteran the maximum possible level of assistance.
Zhejiang’s courts have established a regular communication mechanism with the Department of Veterans Affairs, the Tax Bureau, the Human Resources and Social Security Bureau, and other relevant agencies, ensuring that each case involving assistance to military personnel is discussed on an individual basis.
The Higher People’s Court of Jilin Province, guided by the principle of “one-time assistance, long-term care,” has proactively coordinated with the Provincial Department of Veterans Affairs, the Jilin Provincial Charity Federation, civil affairs authorities, medical insurance agencies, and the Disabled Persons’ Federation, among others, to help eligible parties apply for a range of social assistance programs. It also leverages third-party social organizations to provide sustained care and support to military personnel and their families.
Drawing on its own established platforms—such as the Legal Service Workstation for Protecting Military Rights, the Legal Service Workstation for Veterans, and the Center for Safeguarding Veterans’ Rights—the Guangxi courts have developed a dispute-resolution system that seamlessly integrates mediation, litigation, and assistance, while also helping eligible military personnel and their families access appropriate social support.
Guangdong courts, guided by the principle of “diversified assistance and concerted care,” provide judicial relief to parties involved and, through a joint mechanism for coordinating judicial and social assistance established with local civil affairs bureaus, refer their cases to the civil affairs authorities in their registered place of residence, thereby effectively addressing the practical difficulties faced by retired military personnel.
Hebei Province and Weinan City in Shaanxi Province, as major military‑garrison provinces and cities respectively, have both established robust mechanisms for military–local cooperation. Such coordinated efforts have become a key channel for sourcing cases involving military‑related assistance in Hebei Province. The Weinan People’s Court has officely embraced the principle of “supporting the military in accordance with the law,” strengthening rights protection within the judicial system while extending its services beyond litigation. Working in tandem with local garrison units, it has built a comprehensive network for safeguarding military rights that spans horizontally to all relevant parties and vertically to every level, thereby developing a systematic approach to military‑related rights protection—evolving from the “Heyang Experience” through the “Weinan Model” to the broader “Shaanxi Pattern.”
Adhering to the principle of standardization first, we will actively advance the development of the judicial assistance system for military personnel.
The scientific development of judicial assistance for military-related cases must be achieved through the establishment of a robust judicial assistance system. In recent years, the people’s courts have vigorously advanced institutional reforms in this area, providing practical and effective safeguards for effectively carrying out judicial assistance for military-related cases in the new era.
On April 24, 2022, the Hebei Higher People’s Court, in collaboration with the Political and Legal Affairs Commission of the Hebei Provincial Party Committee, the Political and Legal Affairs Commission of the Hebei Military Region Party Committee, and 11 other departments, jointly issued the “Implementation Opinions on Safeguarding National Defense Interests and the Legitimate Rights and Interests of Servicemen and Their Families in the New Era,” providing clear guidance for judicial assistance work related to military affairs within its jurisdiction.
In March 2021, the Intermediate People’s Court of Yinchuan City, Ningxia Hui Autonomous Region, together with the Political and Legal Affairs Commission of the Yinchuan Municipal Party Committee, the Veterans Affairs Bureau, and other relevant departments, jointly formulated the “Measures for Judicial Assistance to Veterans in Yinchuan City,” establishing mechanisms for priority processing, consultative collaboration, evaluation of assistance outcomes, and coordination with grassroots-level work.
Zhejiang courts have established a coordinated mechanism linking military-related judicial assistance cases with community and subdistrict authorities. Lawyers stationed at subdistricts and villages promptly and proactively communicate with applicants, guiding them through the proper legal procedures for obtaining assistance, thereby enhancing operational efficiency and preventing applicants from turning to petition channels due to a lack of awareness of judicial assistance policies.
While adjudicating cases, the people’s courts also emphasize expanding and extending their functions to maximize the social benefits of judicial assistance for military personnel and their families. For example, the courts in Guangxi have adopted a “three‑pronged proactive” approach—proactive identification, proactive notification, and proactive home visits—to ensure that service members and their families can access judicial assistance promptly and conveniently. The courts in Anhui provide legal aid, psychological counseling, and public‑legal education and guidance to military personnel and their families. Meanwhile, the Haidian District People’s Court in Beijing has instituted dynamic follow‑up and revisit procedures, established a dedicated assistance registry for military personnel and their families, and closely monitors their living conditions, employment, and psychological recovery to prevent situations where recipients fall back into hardship or poverty after receiving aid. In the Xinjiang Uygur Autonomous Region, the Karamay People’s Court conducts follow‑up visits with military personnel and their families who have received judicial assistance, proactively coordinates with community and grassroots organizations, and continuously assesses their living circumstances and the effectiveness of the assistance provided.
According to a responsible official of the Supreme People’s Court, the people’s courts will continue to actively integrate judicial assistance into the legislative framework of the social assistance law, thereby effectively strengthening the legal authority and enforcement of judicial assistance norms and providing robust rule-of-law support for safeguarding the rights and interests of military personnel and their families. At the same time, the Supreme People’s Court will further guide and encourage local courts to formulate targeted institutional arrangements for military-related judicial assistance, elevating the level of standardization and rule of law. Grounded in local realities, these efforts will remain problem‑oriented, clearly define their roles, engage in sound planning, and establish normative systems that are both distinctive to each locality and practical and effective.

Tianjin Implements Three Measures to Advance Military-Related Trials
Recently, a reporter learned from the Tianjin Higher People’s Court that, since 2018, Tianjin courts have consistently treated military-related rights protection as an important political task, maintaining unwavering vigilance and making every effort to safeguard national defense interests and the legitimate rights and interests of service members and their families. They have swiftly and efficiently adjudicated more than 1,400 cases involving military matters.
Improve the coordinated mechanism for safeguarding military-related rights and interests. Thoroughly implement the “Several Provisions of Tianjin Municipality on Protecting National Defense Interests and the Legitimate Rights and Interests of Military Personnel and Their Families,” and jointly sign with the Beijing Military Court of the PLA the “Opinions on Strengthening Judicial Cooperation between Military and Local Courts,” thereby ensuring policy alignment, resource sharing, complementary strengths, and enhanced quality and efficiency. Strengthen communication and coordination with the armed forces stationed in Tianjin, and establish systems such as joint military–local meetings, information briefings on military‑related cases, and oversight mechanisms for major military‑related cases.
Streamline channels for military-related rights protection litigation. Tianjin courts have established a “green channel” for military-related cases at their litigation service centers to facilitate the participation of service members and their families in legal proceedings. Strengthen enforcement efforts in such cases, and promptly provide judicial assistance to service members and their families facing genuine financial hardship, thereby fully safeguarding their litigation rights.
We are making every effort to advance the diversified resolution of military-related disputes. We have assembled a mediation team by selecting mediators with military service experience and professional lawyers who have handled such cases from the roster of specially invited mediators, and we refer cases that are amenable to mediation to this team for resolution. For major military‑related cases, we actively coordinate with the political organs of the armed forces to pool resources and explore the involvement of people’s mediators in pre‑litigation mediation.

The Higher People’s Court of Inner Mongolia cultivates and selects high-caliber, expert‑type judicial personnel.
Recently, the professional review meeting for the second region-wide selection of expert judges was held at the Higher People’s Court of the Inner Mongolia Autonomous Region. Fifteen reviewers conducted a comprehensive assessment of the candidates’ professional competence, research capabilities, theoretical grounding, and scholarly expertise, and through voting identified 16 nominees for the title of regional expert judge.
　The second region-wide selection of expert judges was officially launched at the beginning of this year. Following recommendations and eligibility reviews, 22 candidates advanced to the professional evaluation stage. The selection process invited a total of 15 experts—representing academia, the legal profession, the prosecution service, and the judiciary—to serve as members of the professional review panel. Adhering to the principles of objectivity, fairness, and prudence, the panel carefully examined the submitted materials in accordance with the eligibility criteria. After a collective deliberation and by secret ballot, 16 candidates were recommended as regional expert judges. The final list of expert judges for the second round will be determined through subsequent selection procedures from among these candidates.
　In recent years, the Higher People’s Court of Inner Mongolia has continuously strengthened the cultivation and selection of high‑level, expert‑type judicial personnel by reinforcing institutional frameworks, refining training mechanisms, and enhancing management and deployment. It has formulated and issued the “Opinions on Strengthening the Development of Young Cadres and Talent Teams in Courts Across the Region,” clearly defining the objectives and mechanisms for nurturing judicial talent over the coming period. Systematic efforts have been undertaken to identify and recognize judicial professionals at all levels; to date, courts across the region have 81 leading judicial practitioners at the league‑city level and 9 expert judges at the regional level, gradually establishing a tiered training model for high‑caliber, expert‑oriented judicial talent and building a multi‑layered, sizable cadre of judicial leaders. Furthermore, databases of expert‑level personnel in various judicial fields at all court levels have been steadily improved and refined, enabling these experts to fully leverage their expertise through participation in the adjudication of significant cases, the drafting of important normative documents, the conduct of key research projects, and the delivery of judicial training and instruction.

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