JC Master Legal News Issue 1150

Key Takeaways for This Issue

The State Council has issued a landmark document outlining the development roadmap for the “five major financial initiatives.”
On March 5, the General Office of the State Council issued the “Guiding Opinions on Doing a Good Job in the Five Major Financial Tasks,” outlining twenty specific measures.
The pilot program for equity investments by financial asset investment companies has been further expanded.
On March 5, the China Banking and Insurance Regulatory Commission issued the “Notice on Further Expanding the Pilot Program for Equity Investments by Financial Asset Investment Companies,” further refining and improving the pilot policies.
The Government Work Report has been released, focusing on employment and people’s livelihoods.
On March 5, Premier Li Qiang delivered the Government Work Report at the Third Session of the 14th National People’s Congress, emphasizing that in 2024, China will create 12.56 million new urban jobs, and that both the economy and the employment situation are stable and improving.
The Supreme People’s Court has released the first batch of ten landmark administrative litigation cases involving market access.
On March 3, 2025, the Supreme People’s Court released the first batch of ten landmark administrative litigation cases involving market access, in order to advance the rule of law in market‑access regulation.
Finance & Capital Markets
The State Council has issued a landmark document outlining the development roadmap for the “five major financial initiatives.”
On March 5, the General Office of the State Council issued the “Guiding Opinions on Doing a Good Job in the Five Major Financial Tasks,” outlining twenty specific measures.

The Opinions propose strengthening financial support for major national science and technology initiatives and for technology‑based small and medium‑sized enterprises, optimizing the financing environment for such offices, and developing equity investment, venture capital, and angel investment. They also call for fostering the growth of leading technology companies, unicorn enterprises, and specialized, refined, distinctive, and innovative SMEs. In addition, the document seeks to improve policies and institutional frameworks supporting private‑sector financing and, in accordance with the law, bring digital‑finance innovation activities under regulatory oversight. Furthermore, it advocates establishing and refining “green‑channel” mechanisms for IPOs and M&A restructurings, while increasing equity‑financing support for technology offices that achieve breakthroughs in critical core technologies. Efforts will be stepped up to invigorate the M&A market and facilitate efficient consolidation and restructuring in the technology and green‑industry sectors.

The pilot program for equity investments by financial asset investment companies has been further expanded.
On March 5, the China Banking and Insurance Regulatory Commission issued the “Notice on Further Expanding the Pilot Program for Equity Investments by Financial Asset Investment Companies,” further refining and improving the pilot policies.

The Notice further expands the pilot program in three key areas: First, it broadens the scope of equity investments by financial asset investment companies to encompass the provinces where the pilot cities are located. The Notice specifies that eligible funds may undertake equity investments within these provincial jurisdictions, thereby attracting and mobilizing additional private capital to participate in fund‑raising. Second, it supports qualified commercial banks in initiating the establishment of financial asset investment companies. Third, it encourages insurance funds to take part in the equity‑investment pilot program of financial asset investment companies. The Notice clarifies that insurance funds may, in compliance with applicable laws and regulations, invest in private equity funds issued by affiliated entities of financial asset investment companies, in bonds issued by such companies, or in equity stakes in these companies.

Three departments have issued the “Comprehensive Pilot Work Plan for the Intellectual Property Financial Ecosystem.”
On March 4, the National Administration of Financial Regulation, the National Intellectual Property Administration, and the National Copyright Administration jointly issued the “Notice on the Issuance of the Comprehensive Pilot Work Plan for the Intellectual Property Financial Ecosystem,” deciding to launch a comprehensive pilot program for the intellectual property financial ecosystem in Beijing, Shanghai, Jiangsu Province, Zhejiang Province, Guangdong Province, Sichuan Province, Shenzhen, and Ningbo.

The Work Plan outlines 14 key tasks across five areas, proposing the full-scale promotion of online processing for pledge registration, the establishment of a public information platform for copyright pledge registration, and the facilitation of data sharing and interoperability between the announcement information on trademark and patent pledge registrations and the People’s Bank of China Credit Reference Center’s Unified Registration System for Movable Property Financing.

The National Administration of Financial Regulation has launched a pilot program to moderately relax policies on M&A loans for technology enterprises.
Recently, the National Administration of Financial Regulation has launched a pilot program to moderately relax policies on M&A loans for technology enterprises, temporarily easing certain provisions of the “Guidelines on Risk Management of M&A Loans by Commercial Banks” (CBRC Document No. 5 [2015]).

For “holding‑type” mergers and acquisitions, the National Administration of Financial Regulation plans to pilot a relaxation of the loan‑to‑transaction‑value cap from “no more than 60%” to “no more than 80%,” and of the loan‑term ceiling from “generally no more than seven years” to “generally no more than ten years.” The pilot program will be launched in 18 cities, including Beijing, Shanghai, Tianjin, Chongqing, Nanjing, Hangzhou, Hefei, Jinan, Wuhan, Changsha, Guangzhou, Chengdu, Xi’an, Ningbo, Xiamen, Qingdao, Shenzhen, and Suzhou.

Commercial & Corporate
The draft budgets for 2025 at both the central and local levels have been released.
On March 5, the Ministry of Finance submitted to the Third Session of the 14th National People’s Congress for review the “Report on the Implementation of the 2024 Central and Local Budgets and the Draft 2025 Central and Local Budgets.”
The Report shows that in 2024, national general public budget revenue totaled RMB 21,970.212 billion, representing 98.1% of the budget and a 1.3% increase over 2023. Specifically, tax revenue amounted to RMB 17,497.201 billion, down 3.4%, while non-tax revenue reached RMB 4,473.011 billion, up 25.4%.
The Report outlines the key fiscal policies for 2025, including: supporting the expansion of domestic demand and vigorously boosting consumption; comprehensively leveraging relevant fiscal and tax policy tools to advance targeted initiatives aimed at stimulating consumer spending; refining import and export tax policies, such as tariffs, while strengthening support through export credit insurance and export‑credit financing to promote the development of services trade, digital trade, cross‑border e‑commerce, and overseas warehouses; and supporting enterprises in leading or participating in major national science and technology projects, making effective use of tax incentives, special funds, government procurement, and other policy instruments to enhance their capacity for innovation and development.

The Ministry of Industry and Information Technology is soliciting public comments on 318 proposed industry standard projects.
On March 5, the website of the Ministry of Industry and Information Technology published a notice soliciting public comments on 318 industry standard project proposals, including the “Guideline for Intelligent Technologies in Alkaline Zinc–Manganese Dioxide Battery Factories.” The deadline for submitting feedback is April 4.
This batch of industry standard project proposals open for public comment encompasses four major areas: upgrading standards for traditional industries, strengthening standards for emerging industries, laying out standards for future‑oriented industries, and consolidating foundational standards. These initiatives cover such fields as new‑energy vehicles, 5G, virtual reality, big data, cloud computing, and the Internet of Vehicles.

The Ministry of Housing and Urban–Rural Development plans to issue the engineering construction standard “Construction Standard for Radio and Television Monitoring Stations.”
On March 6, the website of the Ministry of Housing and Urban–Rural Development published the “Notice on Public Solicitation of Comments on the Project Construction Standard ‘Construction Standard for Radio and Television Monitoring Stations (Draft)’,” with a deadline for submitting feedback set for April 9.
The Standard comprises seven chapters, covering general provisions, classification of construction scale and project composition, site selection requirements and site area, overall layout and construction requirements, floor area ratios, technical equipment configuration and related requirements, as well as key technical and economic indicators. It applies to new, renovated, and expanded projects for monitoring stations and for broadcasting, television, and online audiovisual monitoring and regulatory agencies.

The Ministry of Natural Resources has issued the “Administrative Measures for the Expert Pool for Reviewing Ecological Restoration Plans in Mining Areas.”
On March 6, the website of the Ministry of Natural Resources issued the “Notice on the Issuance of the Provisional Measures for the Administration of the Expert Pool for Reviewing Ecological Restoration Plans in Mining Areas.”
The Measures aim to standardize the review process for ecological restoration plans in mining areas, ensure fairness and impartiality, and enhance the quality of reviews. The expert pool is managed by the Ministry of Natural Resources, with the selection and administration of experts entrusted to a technical support agency. Experts must possess high ethical standards, hold senior professional technical titles, be in good health, and be capable of performing review duties. The expert pool operates under a dynamic management system, with adjustments and updates made as needed. Experts enjoy independent review authority and are responsible for the opinions they render. Those who violate relevant regulations shall be removed from the expert pool.

The first national standard in the field of official vehicle management has been issued and put into effect.
Recently, the State Administration for Market Regulation (Standardization Administration of China) approved and released the national standard “Data Specification for Official Vehicle Management Platforms” (GB/T 45241—2025).
This standard focuses on strengthening the full‑lifecycle governance of official vehicle data, specifying the fundamental requirements for official vehicle data management, the format of platform data content, and procedures for data management and maintenance. It provides guidance for data collection, storage, processing and transmission, exchange, analysis, application, and security management in the development, upgrading, and operation and maintenance of official vehicle management platforms.

Shanghai Lingang has issued the “Several Measures to Strengthen Quality Control of Residential Construction Projects in the Lingang New Area.”
On March 5, the website of the Shanghai Lingang New Area Administration Committee published the “Notice on Issuing the ‘Several Measures to Strengthen Quality Control of Residential Construction Projects in the Lingang New Area.’”
This measure aims to enhance the quality of residential construction in the Lingang New Area, ensure effective prevention and control of quality issues, standardize consistency in construction and design, unlock the potential of quality insurance, and advance quality‑assurance‑based maintenance management. The measures underscore the need to officely hold project stakeholders accountable and establish a robust accountability‑tracing system. By introducing quality insurance, they seek to incentivize continuous improvements in construction quality and ensure that desired outcomes are achieved. Furthermore, the measures call for strengthening oversight mechanisms and refining reward‑and‑penalty systems, rigorously enforcing the responsibilities of all parties involved, and elevating the overall quality and service life of residential buildings.

The Shenzhen Municipal Administration for Market Regulation has issued the “Shenzhen Guidelines for Quality Management of Customer Complaints in Small and Medium-sized Enterprises.”
On March 3, the Shenzhen Municipal Supervision Bureau’s website published the “Notice on Issuing the ‘Shenzhen Guidelines for Quality Management of Customer Complaints by Small and Medium-sized Enterprises.’”
The Guidelines comprise ten sections, covering organizational development, the design and control of customer complaint handling processes, strategies for addressing the spillover effects of customer complaints, analysis and improvement of customer complaints, measurement of customer satisfaction, and the information‑based, digital, and intelligent management of customer complaints. They are supplemented by seven appendices: a flowchart of the complaint‑handling process, a complaint registration form, a complaint‑tracking sheet, a progressive‑escalation flowchart, a diagram illustrating the relationship between customer complaints and customer satisfaction, and a guide for small and micro enterprises.

The Shenzhen Municipal Market Supervision Administration plans to issue the “Administrative Measures for Specialized Technical Committees on Standardization.”
On March 5, the Shenzhen Municipal Market Supervision Administration’s website published the “Notice on Soliciting Comments on the ‘Administrative Measures for the Specialized Technical Committees on Standardization of the Shenzhen Municipal Market Supervision Administration (Draft for Public Comment)’,” with the deadline for submitting feedback set for April 7.
The Measures comprise five chapters and fifty-five articles, with 23 new provisions added. These primarily address the establishment, planning, and spatial arrangement of technical committees; the formation of sub‑technical committees; adjustments to committee membership; qualifications and responsibilities of personnel; modifications to the scope of work, names, and host institutions; management of leadership transitions; oversight and supervision; and archival management. In addition, 26 existing provisions have been supplemented and refined, while two provisions have been deleted.

Shenzhen’s Pingshan District plans to introduce a series of measures to accelerate the high-quality development of innovative drugs.
On March 3, the Shenzhen Pingshan District Government website published an announcement soliciting public comments on the “Several Measures of Pingshan District to Accelerate the High-Quality Development of Innovative Drugs (Draft for Comments).” The deadline for submitting feedback is April 2.
The “Several Measures” comprise nine provisions, stipulating that eligible applicant entities establishing local talent teams of 30 or more members—of whom at least 10 hold doctoral degrees—and ensuring these personnel are actively employed locally will receive an annual reward of RMB 1 million, selected on a competitive basis. For applicant entities, a reward of 5% will be granted, also on a competitive basis, on audited and verified R&D expenditures incurred in the preceding year; the annual funding cap for each entity is RMB 5 million. Furthermore, for investment expenditures (excluding R&D spending) incurred in the preceding year, a reward of 10% will be awarded, with a yearly cap of RMB 10 million per entity. The maximum funding for any single project is RMB 30 million, and the funding period shall not exceed three years.

The National Development and Reform Commission convened a meeting to advance the pilot program for deepening cooperation on investment‑loan linkage.
The National Development and Reform Commission convened a meeting to advance the pilot program for deepening cooperation in investment‑loan linkage.
The meeting emphasized that, building on the initial group of seven pilot partner banks, the next step will be to bring five additional banks—China Exim Bank, Bank of Communications, Postal Savings Bank of China, China Merchants Bank, and Industrial Bank—into the partnership network. It is essential to further identify synergies between investment and financial policies, continuously broaden the scope of cooperation, enrich its content, and enhance its quality and effectiveness. Greater financing support should be provided for key national projects to ensure their smooth implementation. Moreover, promoting private investment must be given even higher priority, with ongoing efforts to improve the ease of accessing financing for private‑sector projects.

The Ministry of Industry and Information Technology plans to issue nine mandatory national standards.
On March 4, the website of the Ministry of Industry and Information Technology published a notice soliciting public comments on nine draft mandatory national standards, including “General Safety Requirements for Rubber and Plastics Machinery.” The deadline for submitting feedback is March 11.
This batch of mandatory national standards currently open for public comment primarily includes: “General Safety Requirements for Rubber and Plastics Machinery”; “Classification and Labelling of Chemicals—Part X: Desensitized Explosives”; “Limit Values for Hazardous Substances in Coatings—Part 1: Architectural Coatings”; “Limit Values for Hazardous Substances in Coatings—Part 2: Industrial Coatings”; “Safety Technical Specification for Concrete Admixtures”; “Silicone Structural Sealant for Building Applications”; “Safety Technical Specification for Tractors”; “Safety Technical Specification for Earth‑moving Machinery”; and “General Safety Requirements for Construction Machinery and Equipment.”

The Ministry of Industry and Information Technology plans to revise two mandatory national standards, including “Occupant Protection in Frontal Vehicle Collisions.”
On March 4, the website of the Ministry of Industry and Information Technology published the “Public Notice Soliciting Comments on the Draft Amendments to Two Mandatory National Standards, Including ‘Occupant Protection in Frontal Vehicle Collisions,’” with a deadline for submitting feedback set for May 3.
This batch of mandatory national standards open for public comment includes “Occupant Protection in Frontal Vehicle Collisions” and “Domestic Gas Cookers.” Among them, “Occupant Protection in Frontal Vehicle Collisions” primarily revises the format and content of warning labels.

Four departments have issued a document to promote the voluntary disclosure of corporate greenhouse gas information.
Recently, the website of the Ministry of Ecology and Environment published the “Opinions on Promoting Voluntary Disclosure of Corporate Greenhouse Gas Information.”
The “Opinions” set forth six key tasks: (1) Establish a supporting system of technical standards for corporate greenhouse gas information disclosure; (2) Diversify and expand the formats and channels for corporate greenhouse gas information disclosure; (3) Broaden the application scenarios of corporate greenhouse gas information disclosure; (4) Encourage third-party institutions to provide market‑based services for corporate greenhouse gas information disclosure; (5) Promote pilot programs for voluntary corporate greenhouse gas information disclosure; and (6) Strengthen international cooperation on corporate greenhouse gas information disclosure.

The Ministry of Ecology and Environment has issued a document to standardize the import management of recycled black powder used in lithium-ion batteries and recycled steel raw materials.
On March 4, the website of the Ministry of Ecology and Environment published the “Letter Soliciting Public Comments on the ‘Notice on Regulating the Import Management of Recycled Black Powder and Recycled Steel Raw Materials for Lithium-Ion Batteries (Draft for Comments)’,” with a deadline for submitting feedback set for March 20.
The Notice clarifies that recycled black powder feedstock for lithium‑ion batteries meeting the requirements of Table 1, and recycled steel feedstock meeting the requirements of Table 2, are not classified as solid waste and may be imported freely. Recycled black powder feedstocks of different categories listed in Table 1, and recycled steel feedstocks of different categories listed in Table 2, must not be mixed; moreover, a single customs declaration shall not list recycled black powder or recycled steel feedstocks belonging to different categories. Bulk recycled black powder and recycled steel feedstocks of different categories must remain segregated; however, when such materials are individually packaged, they may be co‑loaded, provided they are stored separately by category.

Beijing has outlined 15 key tasks to promote innovation and development in the construction sector through technological support.
On March 4, the Beijing Municipal Government website published the “Notice on Issuing the ‘Beijing Action Plan for Technological Support of Innovative Development in the Construction Sector (2025–2027)’.”
The Action Plan outlines 15 key tasks across five areas: (1) Promoting AI‑driven innovation and upgrading in the construction industry; (2) Accelerating the green, low‑carbon, and intelligent transformation of the construction sector; (3) Advancing the high‑quality, intelligent development of urban renewal projects; (4) Enhancing the intelligence of quality and safety supervision and services in the construction field; and (5) Strengthening capacity building for independent innovation and the commercialization of research outcomes in the construction sector.

Beijing plans to release an upgraded version of its “Sail” initiative for the large-scale deployment of 5G applications.
On March 4, the Beijing Municipal Government website published an announcement soliciting public comments on the “Beijing 5G Large-Scale Application ‘Sail’ Action Upgrade Plan (2025–2027) (Draft for Comments).” The deadline for submitting feedback is March 11.
The Plan sets out 20 specific tasks across seven key areas: boosting the expansion of new‑type consumption, empowering production and operations to enhance quality, promoting inclusive public services, strengthening core industry capabilities, improving the application‑oriented industrial system, fostering a robust application‑driven industrial ecosystem, and fortifying cybersecurity safeguards. Notably, in the area of empowering production and operations to improve quality, the Plan outlines initiatives—targeting six sectors, including “5G+Industrial Internet, 5G+Humanoid Robots, 5G+Smart Power, 5G+Smart Low‑Altitude Services, 5G+Intelligent Connected Vehicles, and 5G+Smart Agriculture”—to accelerate digital transformation and upgrading across industries, with the goal of enhancing quality, boosting efficiency, and reducing costs.

The Beijing Municipal Administration for Market Regulation plans to issue a work plan for 2025 aimed at comprehensively optimizing the business environment and building “Beijing Service.”
On March 4, the Beijing Municipal Government website published an announcement soliciting public comments on the “Work Plan of the Beijing Municipal Administration for Market Regulation for Comprehensively Optimizing the Business Environment and Building ‘Beijing Service’ by 2025 (Draft for Public Comment).” The deadline for submitting feedback is March 11.
The “Work Plan” outlines six key areas and 29 specific measures, as follows: First, deepen market‑access reform to foster a transparent, standardized, and streamlined institutional framework; second, safeguard and promote fair competition to build an equitable, orderly, and healthy market environment; third, innovate regulatory and law‑enforcement mechanisms to create a precise, efficient, and inclusive business climate; fourth, strengthen quality‑assurance support and standards‑driven guidance to deliver a systematic, integrated, and dynamic innovation ecosystem; fifth, support the development of market entities to shape a positive, stable, and predictable growth environment; and sixth, deepen regional cooperation among Beijing, Tianjin, and Hebei to establish an integrated business environment characterized by joint construction and shared benefits.

Announcement to the United States: China Launches Its First Anti-Circumvention Investigation
On March 4, the Ministry of Commerce issued Announcement No. 14 of 2025, announcing the initiation of an anti-circumvention investigation into imported single-mode optical fibers with a specific cutoff wavelength originating in the United States.
The announcement states that the Ministry of Commerce has decided, effective March 4, 2025, to initiate an investigation into whether certain imported single-mode optical fibers with cutoff wavelength shifts originating in the United States may be circumventing anti-dumping measures imposed on non‑dispersion‑shifted single-mode optical fibers also originating in the United States. The investigation will commence on March 4, 2025, and is scheduled to last six months, with the possibility of appropriate extension under special circumstances.
The announcement clarifies the existing anti-dumping measures. Specifically, on April 21, 2023, the Ministry of Commerce issued Announcement No. 16 of 2023, deciding to continue imposing anti-dumping duties on imported non‑dispersion‑shifted single-mode optical fibers originating in the United States, effective April 22, 2023, for a period of five years.

The General Administration of Customs announced the suspension of imports of U.S. logs and the temporary suspension of the qualifications of three U.S. companies to export soybeans to China.
On March 4, the General Administration of Customs website published the “Announcement on Suspending the Import Qualification of Soybeans from Three U.S. Companies, Including CHS Inc.” and the “Announcement on Suspending the Import of U.S. Log Timber.”
The Announcement clarifies that, recently, Chinese customs has detected ergot and seed‑treatment residues in imported U.S. soybeans, as well as quarantine‑regulated forest pests such as bark beetles and longhorn beetles in imported U.S. logs. Accordingly, the General Administration of Customs has decided, effective from the date of this announcement, to suspend the import‑eligibility of soybeans for three implicated companies—CHS Inc. (Chinese registration number: QUSA0824071600058), LOUIS DREYFUS COMPANY GRAINS MERCHANDISING LLC (Chinese registration numbers: QUSA0823071500143 and QUSA0824071600057), and EGT, LLC (Chinese registration number: QUSA0823071500087)—and to temporarily halt imports of U.S. logs.

The Government Work Report has been released, focusing on employment and people’s livelihoods.
On March 5, Premier Li Qiang delivered the Government Work Report at the Third Session of the 14th National People’s Congress, emphasizing that in 2024, China will create 12.56 million new urban jobs, and that both the economy and the employment situation are stable and improving.
The report proposes broadening employment and entrepreneurship channels for college graduates and other young people, strengthening the protection of the rights and interests of workers in flexible and new forms of employment, improving the remuneration and benefits of skilled personnel, and adopting a multi‑pronged approach to promote employment. At the same time, the government will create more job opportunities and advance high‑quality economic development by implementing special initiatives to boost consumption, fostering the safe and sound growth of emerging industries, and accelerating the digital transformation of manufacturing, thereby providing workers with more high‑quality jobs and helping to achieve the goals of fuller and higher‑quality employment.

The Ministry of Commerce has added 15 U.S. entities to its export control blacklist.
On March 4, the Ministry of Commerce website published Announcement No. 13 of 2025, adding 15 U.S. entities to the export control blacklist.
The Ministry of Commerce has announced that it will place 15 U.S. entities, including L3Harris Technologies, Gibbs & Cox, and General Atomics Aeronautical Systems, on the export control blacklist, prohibiting the export of dual-use items to these 15 entities. Any ongoing export activities must be immediately halted. In exceptional circumstances where exports are deemed necessary, exporters must submit an application to the Ministry of Commerce.

The Ministry of Natural Resources has publicly announced 14 industry standards, including the “General Technical Specifications for the Inventory of Natural Resource Assets Owned by All the People.”
On March 3, the website of the Ministry of Natural Resources published a public notice announcing the draft versions of 14 industry standards, including the “Technical General Rules for Inventorying Natural Resource Assets Owned by All the People,” with a公示 period of five working days.
The industry standards published in this batch primarily include the “General Technical Specifications for the Inventory of Natural Resource Assets Owned by All the People,” the “Specification for the Preparation of Mapping Products from the Inventory of Natural Resource Assets Owned by All the People,” the “Technical Procedures for Quality Verification of Data Results from the Inventory of Natural Resource Assets Owned by All the People,” the “Technical Procedures for Spatial Data Integration in the Inventory of Natural Resource Assets Owned by All the People,” the “Technical Procedures for the Inventory of Agricultural Land Resource Assets Owned by All the People,” the “Technical Procedures for the Inventory of Construction Land Resource Assets Owned by All the People,” the “Technical Procedures for the Inventory of Mineral Resource Assets,” the “Technical Procedures for the Inventory of Forest Resource Assets Owned by All the People,” the “Technical Procedures for the Inventory of Grassland Resource Assets Owned by All the People,” and the “Technical Procedures for the Inventory of State‑Owned Construction Land Assets with Undetermined Users.”

The Ministry of Industry and Information Technology plans to draft or revise 10 mandatory national standards in fields such as automobiles and the Internet of Things.
On March 4, the website of the Ministry of Industry and Information Technology published a notice soliciting public comments on draft plans for the development and revision of 10 mandatory national standards, including “Dimensions, Axle Loads, and Mass Limits for Motor Vehicles, Trailers, and Vehicle Combinations,” as well as on the plan to develop an English-language version of the mandatory national standard “Intelligent Connected Vehicles—Automated Driving Data Recording System.” The deadline for submitting feedback is April 3.
This batch of mandatory national standard development and revision projects open for public comment primarily includes the following: “Basic Safety Requirements and Test Methods for Consumer‑Grade IoT Products,” “General Technical Specifications for On‑Site Blasting‑Mixture Trucks,” “Structural Requirements for Low‑Floor and Low‑Entry Urban Buses,” “Performance and Installation Requirements for Rearview Mirrors on Motorcycles and Mopeds,” “Overall Dimensions, Axle Loads, and Mass Limits for Motor Vehicles, Trailers, and Vehicle Combinations,” and “Marking of Control Devices, Indicators, and Signal Devices on Motor Vehicles.”

The Ministry of Commerce plans to issue the industry standard “Guidelines for Digital Supply Chain Management Consulting Services.”
On March 3, the Ministry of Commerce website published the “Public Call for Comments on the Industry Standard ‘Guidelines for Digital Supply Chain Management Consulting Services (Draft for Public Comment)’,” with the deadline for submitting feedback set for April 2.
The Guide establishes the overarching principles for digital supply chain management consulting services, outlining service assurance, service content, service processes, tools and methodologies for technical implementation, and key factors to be addressed for continuous improvement of service quality. It is applicable to service providers offering management consulting in the realm of digital supply chains.

Two departments have announced that mandatory product certification will no longer be required for fire safety signs.
On March 3, the website of the State Administration for Market Regulation published the “Announcement on No Longer Subjecting Fire Safety Signs to Mandatory Product Certification.”
The Announcement clarifies that, effective from the date of its issuance, mandatory product certification will no longer apply to fire safety signs listed in the Catalogue of Products Subject to Mandatory Certification (which fall under the category of refuge and escape products). Relevant designated certification bodies shall revoke any mandatory product certification certificates already issued.

Shanghai Implements Multiple Measures to Reduce Labor Costs for Businesses
Recently, the Shanghai Development and Reform Commission announced that by 2025, Shanghai will implement 21 measures across five key areas, including reducing tax and fee burdens, lowering labor costs, cutting energy expenses, easing financing costs, and optimizing inclusive yet prudent regulatory approaches. The policy will remain in effect until December 31, 2025.
With regard to reducing labor costs, starting in March, the city will continue to temporarily lower the employer contribution rate for employee medical insurance by 1 percentage point and reduce the employer contribution rate for unemployment insurance by 0.5 percentage points. In addition, the city has merged the one-time employment‑incentive subsidy and the one-time job‑expansion subsidy into a single policy to encourage enterprises to hire more workers. Meanwhile, for social security contributions during maternity and childbirth leave, eligible employers may apply for a 50% subsidy, further easing the burden of labor costs on businesses.

Taxation
According to the latest data from the State Taxation Administration:
In 2024, the high-quality development of “Little Giant” enterprises specializing in niche fields continues to advance.
As the vanguard of SME development, “Little Giant” enterprises specializing in niche, specialized, and innovative fields play a crucial supporting role in advancing new‑type industrialization and fostering new‑quality productivity. According to the latest data from the State Taxation Administration, in 2024, these “Little Giant” offices posted revenue growth that exceeded the national average by 2.1 percentage points.
According to officials from relevant departments of the State Taxation Administration, “Little Giant” enterprises currently exhibit three key highlights:
First, private enterprises and the real economy account for a substantial share. In 2024, privately owned “Little Giant” offices represented 88.8% of all such enterprises and generated 85.4% of their total sales revenue. Among manufacturing “Little Giants,” which made up 82% of the total, they contributed 90.6% of the aggregate sales revenue. Sales revenue grew 3.2% year over year, with particularly strong growth in advanced manufacturing sectors such as computer, communications, and electronic equipment, as well as the automotive industry, where sales increased by 13.3% and 11.2%, respectively, compared with the previous year.
Second, the digital economy and technological innovation are driving growth in tandem. In 2024, sales revenue among “Little Giant” enterprises in the digital economy sector increased by 9.4%. Specifically, the digital technology applications sector—led by software development—the digital product manufacturing sector—centered on smart device production—and the digital factor‑driven sector—focused on data resources and trading—all posted robust growth, rising 11.5%, 9.1%, and 5.6% year over year, respectively. From a sales perspective, in 2024, sales revenue of “Little Giant” enterprises in the high‑tech industry grew by 9.6% year over year; from a procurement standpoint, these enterprises’ purchases of R&D and technical services expanded by 7.8% year over year, reflecting steady yet rapid growth.
Third, overseas exports have diversified and expanded. In 2024, the total export value of “Little Giant” enterprises nationwide increased by 12.1% year on year. By product category, exports of integrated circuits and medical devices rose by more than 25%, while those of motor vehicles and auto parts grew by over 11%. Regionally, exports to ASEAN, the European Union, the United States, and other markets all posted varying degrees of growth; in particular, exports to ASEAN surged by 30.3%, underscoring robust foreign trade resilience and dynamism.
Huang Lixin, Director of the Tax Science Research Institute of the State Taxation Administration, stated that the tax authorities will continue to optimize the tax-related business environment, earnestly implement tax and fee support policies, and provide targeted relief and empowerment to “little giant” enterprises that are specialized, refined, distinctive, and innovative, thereby fostering their innovation and development, enhancing their core competitiveness, and driving high-quality economic growth.

Tax revenue data show:
Nearly one year after the implementation of the “Two New” policies, their outcomes have been notably effective.
In March 2024, the State Council issued the “Action Plan for Promoting Large-Scale Equipment Upgrading and Consumer Goods Trade-In,” aimed at boosting investment growth and unlocking consumption potential. Recent tax data released by the State Taxation Administration show that, nearly one year after the implementation of the “Two New” policies, enterprise equipment upgrading has advanced steadily nationwide, while the consumer goods trade-in program has yielded significant results. These developments indicate that China’s production demand is rising steadily and consumer market confidence is strengthening.
Driven by a comprehensive package of policy measures, including tax incentives, enterprises are stepping up efforts to upgrade their equipment. According to VAT invoice data, from April 2024 to February 2025, nationwide corporate spending on machinery and equipment rose 5.9% year on year, reflecting an accelerated pace of equipment renewal as large-scale modernization initiatives take effect. In particular, since late September 2024, the sustained implementation of a series of additional stimulus policies, coupled with the effective rollout of previously introduced measures, has further bolstered business confidence. As a result, from October 2024 to February 2025, corporate spending on machinery and equipment increased by 7.1% year on year, underscoring a stronger momentum in equipment modernization.
Specifically, over the past year, industrial enterprises’ spending on machinery and equipment increased by 4.6% year on year, indicating generally favorable progress in equipment renewal. Meanwhile, the information transmission, software, and information technology services sectors, as well as the scientific research and technical services sectors, saw year-on-year growth of 18.7% and 21.7%, respectively, in their purchases of machinery and equipment, reflecting heightened investment in equipment upgrades across the information and technology industries. Nationally, corporate spending on digital equipment rose by 15.4% year on year, underscoring that digital transformation has become a key strategic priority for businesses and driving strong momentum in digital equipment renewal. Notably, private enterprises recorded an 8.4% year-on-year increase in spending on machinery and equipment—outpacing both state-owned and foreign-invested offices—highlighting the increasingly pivotal role of private companies in supporting overall equipment modernization.
Consumption is one of the “three driving forces” behind economic growth and a key engine for fostering domestic circulation and achieving high-quality development. Hong Tao, Vice President of the China Society for Consumer Economics and Director of the Institute of Business Economics at Beijing Technology and Business University, stated that the trade-in policy for consumer goods has played an important role in boosting consumption, meeting the upgrading needs of urban and rural residents, and expanding domestic demand.
The trade-in policy for consumer goods has accelerated the pace of product renewal. According to VAT invoice data, from April 2024 to February 2025, retail sales in the household appliance sector—including refrigerators—rose 28.6% year on year, while sales in the home audiovisual equipment sector—such as televisions—increased by 19.9%, signaling a rebound in appliance consumption and steadily rising demand. Meanwhile, retail sales of furniture and sanitary ware grew 18.6% and 13.8% year on year, respectively; notably, sales in the service‑robot manufacturing segment, including robotic vacuum cleaners, surged 25.9% year on year, reflecting stronger demand for home‑related products and growing consumer preference for smart home solutions. Nationally, new‑energy vehicle sales climbed 45% year on year, and used‑car sales rose 18.1%, underscoring sustained pent-up demand for vehicle trade-ins and continued growth in overall auto sales.
“In 2025, the ‘Two New’ policies will be strengthened and expanded, further boosting effective investment and reviving consumer demand,” said a responsible official from a relevant department of the State Taxation Administration. The tax authorities will continue to intensify policy publicity and guidance, constantly improve tax and fee services, make it easier to phase out old assets and more appealing to adopt new ones, thereby further invigorating market vitality, bolstering consumer confidence, and contributing the tax sector’s efforts to steadily advancing large-scale equipment upgrades and the trade-in of used consumer goods for new ones.

LITIGATION & ARBITRATION
The Supreme People’s Procuratorate has released the 57th batch of guiding cases, focusing on the protection of cultural relics and cultural heritage.
The Supreme People’s Procuratorate website has published the “Notice on Issuing the Fifty-Seventh Batch of Guiding Cases of the Supreme People’s Procuratorate.”
This batch of cases comprises five matters, involving the Qin Straight Road site, Hongjue Temple, the Yungang Grottoes, the Lumi Cang granary, and the Taishan stone carvings, among others. In terms of the nature of the damage, some cases present serious risks of harm, while others involve outright destruction of cultural relics or severe impairment of historical landscapes—both constituting grave forms of damage. Collectively, these cases offer important guidance on such issues as fulfilling duties to protect cultural relics and cultural heritage; employing simulated restoration techniques to assess the value of damaged cultural properties; precisely identifying the subjects of administrative public-interest litigation oversight; leveraging consultation and mediation to promote effective remediation and safeguard public interests; and ensuring lawful protection of cultural relics located within military barracks.

The Supreme People’s Court has released the second batch of typical cases involving disputes over betrothal gifts handled by the people’s courts.
The Supreme People’s Court has released a second batch of typical cases involving disputes over betrothal gifts, cracking down on marriage fraud and regulating “flash marriage” services.
This batch of typical cases comprises four instances. With regard to the “flash marriage” services offered by matchmaking agencies, courts have observed in judicial proceedings that some such agencies exploit the eagerness of eligible singles to find suitable partners, touting “flash marriage” services as a pretext to charge exorbitant service fees from parties who enter into matchmaking contracts. According to court officials, because the parties involved in “flash marriages” typically know each other for only a short time and lack a solid emotional foundation, they often experience “flash divorces” shortly after marriage, triggering a cascade of litigation—including divorce disputes and contract‑related claims—and thereby exacerbating social instability. Such practices must therefore be regulated. In Case No. 3, a matchmaking agency, capitalizing on Mr. Lin’s desire to quickly secure a spouse, collected RMB 170,000 in service fees under the guise of providing “flash marriage” services. Following a subsequent “flash divorce,” Mr. Lin filed a lawsuit alleging a breach of the service contract. After comprehensively assessing the agency’s performance under the contract and Mr. Lin’s own contributory negligence, the people’s court ruled that the agency must refund RMB 150,000 in service fees.

The Supreme People’s Court has released the first batch of ten landmark administrative litigation cases involving market access.
On March 3, 2025, the Supreme People’s Court released the first batch of ten landmark administrative litigation cases involving market access, in order to advance the rule of law in market‑access regulation.
These cases cover a broad range of market‑access issues, including road passenger transport, financial leasing, administrative licensing for gas services, and corporate name disputes, involving diverse economic entities and legal questions. In Case One, a gas company applied in 2019 for a license to operate a gas business but was denied on the grounds of planning concerns. Although the approval authority had previously approved the project’s construction in 2020, it later refused to issue the operating license. The court held that the approval authority’s refusal to process the license lacked sufficient justification and revoked its decision to deny the license. This case underscores the importance of governmental integrity and seamless interagency coordination, noting that enterprises should not bear the consequences of unclear delineations of responsibilities between the approval authority and the housing and urban–rural development bureau, and requiring administrative agencies to safeguard businesses’ lawful rights and interests in accordance with the law.

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