JC Master Legal News Issue 1121

Key Takeaways for This Issue

The Shanghai Stock Exchange has revised the rules governing market-making activities for listed funds, along with the accompanying guidelines.
Recently, the Shanghai Stock Exchange issued the “Shanghai Stock Exchange Guidelines on the Application of Self-Regulatory Rules for Funds, No. 2: Market-Making in Listed Funds (Revised in 2024),” and concurrently released the updated “Shanghai Stock Exchange Fund Business Guide, No. 2: Market-Making in Listed Funds (Revised in 2024).”
The State Administration for Market Regulation plans to revise the Measures for the Supervision and Administration of Metrology in Farmers’ Markets.
On July 25, the website of the State Administration for Market Regulation published the “Notice on Public Solicitation of Comments on the Measures for the Metrological Supervision and Administration of Farmers’ Markets (Draft for Comments),” with a deadline for submitting feedback set for August 24.
NDRC: Supports high-quality enterprises in borrowing foreign debt, streamlines relevant requirements, and expedites processing procedures.
On July 23, the National Development and Reform Commission (NDRC) published on its website the “Notice of the NDRC on Supporting High-Quality Enterprises in Borrowing Medium- and Long-Term Foreign Debt to Promote High-Quality Development of the Real Economy.”
The Supreme People’s Procuratorate has issued 48 guidelines to promote the comprehensive and accurate implementation of the judicial accountability system.
Recently, the Supreme People’s Procuratorate issued the “Notice on the Issuance of the ‘Several Opinions on the Comprehensive and Accurate Implementation of the Judicial Accountability System by People’s Procuratorates,’” further advancing the comprehensive and coordinated reform of the judicial system.
Finance & Capital Markets
The Ministry of Natural Resources and the Shanghai Stock Exchange have jointly launched the “China Marine Economy Stock Price Index.”
On July 23, the Ministry of Natural Resources and the Shanghai Stock Exchange jointly launched the China Marine Economy Stock Price Index. The event was attended by Sun Shuxian, Vice Minister of the Ministry of Natural Resources and Director of the State Oceanic Administration; Qiu Yong, Chairman of the Shanghai Stock Exchange; Zhang Xiaohong, Vice Mayor of Shanghai, and other dignitaries.

The “China Marine Economy Stock Price Index” (hereinafter referred to as “Marine Economy,” code: 932056) is the first comprehensive index in China that covers the entire market—Shanghai, Shenzhen, Beijing, and Hong Kong—and focuses on the marine sector. It is jointly developed by the National Marine Information Center and CSI Index Co., Ltd. The “Marine Economy” Index promptly reflects the operational trends of listed companies in the marine industry, playing a crucial role in establishing a benchmark for China’s marine economic development, guiding capital toward the marine economy, and promoting the efficient allocation of financial resources within the real marine economy. The index uses shares of listed companies on the Shanghai Stock Exchange, Shenzhen Stock Exchange, Beijing Stock Exchange, and Hong Kong Exchanges and Clearing as its sample universe. It comprehensively evaluates factors such as marine‑related characteristics, industry coverage, and financial health to select and rank the top‑performing stocks as constituent components. Currently, the “Marine Economy” Index comprises 213 constituent stocks, spanning 20 marine‑related industries. According to calculations, from the base date of December 31, 2012, to July 22, 2024, the index has delivered an annualized return of 7.5%.

In recent years, the Shanghai Stock Exchange has actively supported marine‑industry enterprises in strengthening and expanding their operations by leveraging capital‑market financing channels. Going forward, under the leadership of the China Securities Regulatory Commission, the Exchange will comprehensively study and implement the spirit of the Third Plenary Session of the 20th CPC Central Committee and the Central Financial Work Conference, earnestly carry out the arrangements set forth in the new “Nine Measures for National Finance,” and remain committed to serving the real economy as its fundamental mission. It will continue to refine the Shanghai Index system, help Shanghai accelerate the development of its “Five Centers”—particularly its international financial and shipping hubs—and ensure that finance better supports the national strategy of building a strong maritime nation.

The Shenzhen Stock Exchange’s “Chuangxianghui” hosted a special event dedicated to the synthetic biology industry.
Supporting the development of new‑type productive forces tailored to local conditions.
Developing new‑type productive forces is both an intrinsic requirement and a key focus for advancing high‑quality development. The Third Plenary Session of the 20th CPC Central Committee emphasized that “high‑quality development is the primary task in building a modern socialist country in all respects” and called for “improving the institutional mechanisms for developing new‑type productive forces tailored to local conditions.” On July 24, the Shenzhen Stock Exchange hosted the 17th session of its “Innovation & Sharing Forum,” which centered on the growth of the synthetic biology industry. The event brought together representatives from listed companies in the sector—including BGI, Chuanning Bio, Kanghong Pharmaceutical, Sanyuan Bio, Weiguang Bio, Jincheng Pharmaceutical, and Huaheng Bio—alongside representatives from Shenzhen’s synthetic biology industry‑focused private equity funds, the China Construction Bank, and research institutions such as the Synthetic Biology Institute of the Shenzhen Institute of Advanced Technology, Chinese Academy of Sciences, to discuss the development of the synthetic biology industry, support high‑level scientific and technological self‑reliance, and help foster and strengthen new‑type productive forces.

The “Chuangxianghui” forum convened discussions on key topics, including emerging trends in synthetic biology technologies, how governments and capital markets can support the development of new, high‑quality productive forces in the synthetic biology sector, and strategies for addressing challenges related to industrialization and scaling. Panelists offered diverse perspectives on the evolution of the synthetic biology industry, shared best practices, experiences, and case studies of publicly listed companies leveraging capital market instruments to achieve growth and expansion, and engaged in a dialogue on the persistent obstacles to synthetic biology’s industrialization and potential solutions.

Participants agreed that synthetic biology is emerging as one of the key industries shaping humanity’s future, a critical enabler of China’s “dual carbon” strategy and sustainable development, and a quintessential embodiment of new‑type productive forces. Accelerating breakthroughs in synthetic‑biology technologies and their industrial application is imperative, and the capital markets should play an even more proactive role in supporting the sector’s growth.

Going forward, the Shenzhen Stock Exchange will thoroughly study and implement the spirit of the Third Plenary Session of the 20th CPC Central Committee and the requirements of the new “Nine Measures for National Development,” earnestly carry out the major strategic plans of the CPC Central Committee and the State Council, as well as the directives issued by the China Securities Regulatory Commission. Upholding the fundamental principle of serving the real economy, the Exchange will continue to build the “Chuangxianghui” brand around key areas, priority industries, and critical regions, forging a new high ground for high-quality development with distinctive Shenzhen characteristics. It will also establish a platform to connect scientific and technological achievements with financial capital, guide resources toward the field of scientific and technological innovation, and accelerate the emergence of new‑type productive forces.

The Shanghai Stock Exchange has revised the rules governing market-making activities for listed funds, along with the accompanying guidelines.
Recently, the Shanghai Stock Exchange issued the “Shanghai Stock Exchange Guidelines on the Application of Self-Regulatory Rules for Funds, No. 2: Market-Making in Listed Funds (Revised in 2024),” and concurrently released the updated “Shanghai Stock Exchange Fund Business Guide, No. 2: Market-Making in Listed Funds (Revised in 2024).”

The revised “Guidelines on Market-Making Activities for Listed Funds” has refined the circumstances under which market-making obligations may be waived, including cases where the fund’s most recent transaction price reaches the daily upper or lower limit; the occurrence of force majeure or other unforeseen events; technical malfunctions not attributable to the market maker; and, during non‑trading days, when a market maker undertakes an upgrade of its trading system followed by live‑market testing on the first subsequent trading day—among six such scenarios. The updated “Market-Making Guidelines for Listed Funds” further clarifies the conditions for waiving market-making duties, strengthens the management of market-making accounts, and optimizes the metrics used to evaluate market-making performance. Both sets of rules have been in effect since July 21, 2024.

Commercial & Corporate
The State Administration for Market Regulation plans to revise the Measures for the Supervision and Administration of Metrology in Farmers’ Markets.
On July 25, the website of the State Administration for Market Regulation published the “Notice on Public Solicitation of Comments on the Measures for the Metrological Supervision and Administration of Farmers’ Markets (Draft for Comments),” with a deadline for submitting feedback set for August 24.
The Measures comprise 18 articles, substantially increasing the maximum penalty amounts and requiring market organizers to establish operational management systems. They further clarify the contents of the entry‑and‑operation agreements concluded between market organizers and operators, stipulating that operators may not use measuring instruments with cheating functions or other non‑compliant measuring devices, and providing for corresponding liabilities for breach of contract. The Measures also expand the management responsibilities of market organizers toward their operators, strengthen their obligations to ensure honest metrological practices, and require them to establish and improve a sound system of integrity‑based metrology management. Moreover, they explicitly prohibit market organizers from colluding with operators to engage in metrological violations that infringe upon consumers’ rights and interests, and introduce provisions mandating that operators refrain from using measuring instruments equipped with cheating functions and from operating measuring instruments whose lead (seal) has been damaged, among other requirements.

The State Administration for Market Regulation has launched a special campaign to rectify vehicle inspection practices.
On July 24, the website of the State Administration for Market Regulation published the “Notice on Launching a Special Rectification Campaign for Motor Vehicle Inspections.”
The Notice clarifies that, in order to strengthen oversight of motor vehicle inspection agencies and rigorously investigate and address illegal and non-compliant practices such as fraudulent inspections, price‑fixing collusion, and unauthorized fee‑charging, the State Administration for Market Regulation has decided to launch a six-month special rectification campaign targeting motor vehicle inspections. The Notice stipulates that inspection agencies may not charge for services that were not actually provided, nor may they bundle “exhaust emission testing fees” into the “annual inspection fee” for battery electric vehicles; it also mandates strict enforcement against violations such as failure to clearly mark prices as required, price fraud, price‑fixing collusion, and price gouging.

The National Development and Reform Commission plans to revise the “Regulations on Security Protection for Power Monitoring Systems.”
On July 25, the National Development and Reform Commission’s website published an announcement soliciting public comments on the “Regulations on Security Protection for Power Monitoring Systems” (Draft for Public Comment), with a deadline for feedback set for August 24.
The Regulations comprise six chapters and 38 articles, clearly defining the scope of objects and business areas covered by power monitoring systems. The enumeration of system types has been revised from listing specific typical system names to describing systems based on their functional characteristics, while also specifying the applicable entities, including operators of power monitoring systems. The regulations optimize security zoning requirements, adjust zone designations, refine the granularity of partitioned protection, and strengthen the establishment and protective measures for secure access zones. They further elaborate technical protection principles and strategies, adding technical requirements related to horizontal and vertical business interactions, equipment selection, security hardening, situational awareness, as well as management measures such as emergency backup arrangements. Additionally, supply chain management is reinforced, with a clear framework established for the oversight of specialized security products used in power monitoring systems. Finally, technical supervision and management have been further refined, specifying the technical oversight obligations of power monitoring system operators and power dispatching institutions, and introducing enhanced risk‑management measures for technical supervision.

Three departments have jointly launched a special campaign to address the quality and safety of fire protection products.
Recently, the National Fire and Rescue Bureau, the Ministry of Public Security, and the State Administration for Market Regulation jointly issued a work plan to launch a nationwide special campaign from July to December this year aimed at ensuring the quality and safety of fire‑fighting products.
The plan outlines 13 key tasks across four priority areas: strengthening the principal responsibility of all relevant parties, conducting concentrated inspections and oversight, severely cracking down on illegal and criminal activities, and accelerating the establishment of a comprehensive, end-to-end regulatory mechanism. This campaign targets products listed in the “Catalogue of Fire Protection Products (2022 Revision),” specifically those related to building fire‑protection systems and firefighting‑rescue equipment. It will cover critical links in the production, distribution, and use chains, with a particular focus on addressing issues that are often hidden yet widespread and highly harmful. The initiative aims to ensure that manufacturers, sellers, and users of fire protection products strictly fulfill their principal responsibilities, intensify oversight of certification and testing bodies for such products, and strengthen coordinated online and offline efforts to combat illegal and criminal activities involving fire protection products.

The National Administration of Financial Regulation has issued a warning to guard against four types of emerging telecom and online fraud.
On July 24, the website of the National Administration of Financial Regulation released the “Risk Alert on Preventing New Types of Telecommunications and Online Fraud.”
The Notice clarifies that new types of telecom and online fraud fall into the following categories: First, “screen‑sharing” scams. Criminals trick individuals into activating a software’s “screen‑sharing” feature, thereby “monitoring in real time” the consumer’s phone or computer screen and “guiding” them through actions such as linking bank cards or changing passwords, while simultaneously obtaining sensitive information like bank account details, passwords, and verification codes to steal funds from the victim’s bank account. Second, “AI face‑swapping and voice‑synthesis” scams. Third, fraudulent online investment and wealth‑management schemes. Fourth, fake transactions involving online gaming products. The National Administration of Financial Regulation emphasizes that users should refuse any request from strangers to “share their screen,” avoid allowing unauthorized individuals to operate their phones, computers, or other electronic devices, and take precautions against financial losses resulting from personal information leaks.

The State-owned Assets Supervision and Administration Commission of the State Council hosted a seminar for heads of central enterprises.
From July 22 to 23, the State-owned Assets Supervision and Administration Commission of the State Council hosted a seminar for heads of central enterprises, focusing on key priorities in state‑owned asset management and the operations of central SOEs.
The meeting emphasized that developing new‑type productive forces should be a key priority, and that central enterprises must accelerate their move toward high‑quality development. It called for steadfast efforts to ensure stable, high‑quality growth, continuously deepen quality‑improvement and efficiency‑enhancement initiatives, and stay officely focused on the goal of “one profit driving stable growth and five ratios undergoing sustained optimization.” Greater attention should be paid to the substantive value of operating performance, with strengthened cash‑flow management, enhanced lean‑management controls, and proactive expansion of effective investment. Measures must be taken to ensure the stable supply and prices of critical basic products, rigorously settle outstanding payments owed to small and medium‑sized enterprises, and foster a sustained economic recovery and improvement. The meeting also urged vigorous advances in both technological and industrial innovation, with central enterprises actively undertaking major national science and technology projects, achieving breakthroughs in emerging industries, and deepening the development of strategic emerging sectors and future‑oriented industries. Efforts should continue to drive the upgrading of industries toward higher value, greater intelligence, and greater environmental sustainability, while comprehensively implementing the “AI+” special initiative, further refining talent‑development support policies, and expediting the establishment of a precise, differentiated, long‑term assessment system for scientific and technological innovation. At the same time, new growth tracks should be strategically mapped out, and new drivers of growth nurtured. In addition, it is essential to effectively prevent and defuse major risks, coordinate development and security at a high level, enforce stringent control measures, handle risks prudently and in an orderly manner, and swiftly enhance the quality of international operations, while strengthening workplace safety and emergency‑management efforts. Finally, the meeting underscored the need to advance the action plan for deepening and upgrading state‑owned enterprise reform, promptly refining and categorizing the major reform measures proposed at the Third Plenary Session of the 20th CPC Central Committee, and timely updating the work‑progress ledger to ensure that more than 70 percent of the core tasks are completed by year’s end, among other priorities.

The Ministry of Culture and Tourism has released five industry standards for the cultural and tourism sectors, including the “Guidelines for the Management of Library Volunteer Services.”
On July 24, the website of the Ministry of Culture and Tourism published the “Announcement on the Release of Five Cultural and Tourism Industry Standards, Including the ‘Guidelines for the Management of Library Volunteer Services.’”
This batch of newly released standards for the culture and tourism sectors includes the “Guideline for Volunteer Service Management in Libraries” (WH/T 101-2024), the “Classification and Description Standard for Animation Information” (WH/T 102-2024), and the “Guideline for the Preparation and Public Disclosure of Annual Reports by Cultural Centers” (WH/T 103-2024). In the tourism sector, the standards comprise the “Guideline for Social Oversight and Volunteer Services in the Tourism Market” (LB/T 087-2024) and the “Coding and Exchange Specification for QR Codes in Culture and Tourism” (LB/T 088-2024).

The Ministry of Ecology and Environment plans to issue the “Guidance on Standardized Environmental Management of General Industrial Solid Waste.”
On July 25, the website of the Ministry of Industry and Information Technology published the “Notice on Public Solicitation of Comments on the ‘Guidance on Standardized Environmental Management of General Industrial Solid Waste (Draft for Comments)’,” with a deadline for submitting feedback set for August 15.
The Guidelines apply to entities that generate general industrial solid waste in conducting standardized environmental management of such waste. Entities engaged in the collection, storage, transportation, utilization, and disposal of general industrial solid waste may implement them by reference.

The employment situation remains generally stable, with data from multiple platforms highlighting new trends in talent mobility.
According to data released on July 23 by the Ministry of Human Resources and Social Security, China’s employment situation remained generally stable in the first half of the year. From January to June, urban areas added 6.98 million new jobs, an increase of 200,000 compared with the same period last year, achieving 58% of the annual target. Since the beginning of this year, the surveyed urban unemployment rate has consistently stayed below last year’s level, falling to 5.0% in June—down 0.2 percentage points year on year and below the targeted range. Meanwhile, data from several recruitment platforms highlight a structural shift in employment, with talent increasingly gravitating toward manufacturing and service sectors. In particular, labor demand in high‑tech manufacturing has risen, while employment in accommodation and catering services has expanded markedly.
At a press conference, Yun Donglai, Deputy Director-General of the Employment Promotion Department of the Ministry of Human Resources and Social Security, stated, “The employment situation has remained generally stable, thanks to the economic recovery and improvement, the continued rebound in service consumption, robust industrial growth, and, in particular, the accelerated development of new‑type productivity, which has spurred demand in manufacturing sectors such as advanced equipment and new materials.”

The General Administration of Customs has clearly specified several circumstances under which AEO enterprises may be exempt from administrative penalties for voluntarily disclosing violations.
Recently, the General Administration of Customs published on its website the “Announcement on Matters Relating to the Handling of Voluntary Disclosure of Violations by Authorized Economic Operators.”
The Notice clarifies that, for certified high‑level enterprises, if they voluntarily disclose violations of customs regulations within one year from the date the tax‑related violation occurred, or within two years but after more than one year from that date, and the proportion of underpaid or unpaid taxes to the total tax payable is 30% or less, or the amount of underpaid or unpaid taxes is RMB 1 million or less, no administrative penalty shall be imposed. Furthermore, even where such disclosure affects the administration of national export tax rebates, if a certified high‑level enterprise voluntarily discloses the violation within one year from the date it occurred, or within two years but after more than one year from that date, and the impact on export tax rebate administration results in an overpayment of up to 30% of the refundable tax amount, or an overpayment of up to RMB 1 million, no administrative penalty may be imposed.

NDRC: Supports high-quality enterprises in borrowing foreign debt, streamlines relevant requirements, and expedites processing procedures.
On July 23, the National Development and Reform Commission (NDRC) published on its website the “Notice of the NDRC on Supporting High-Quality Enterprises in Borrowing Medium- and Long-Term Foreign Debt to Promote High-Quality Development of the Real Economy.”
The Notice states that high-quality enterprises with a prominent industry standing, excellent creditworthiness, and a leading role in driving the high‑quality development of the real economy will be actively supported in borrowing foreign debt. At this stage, priority is given to enterprises that simultaneously meet five specified conditions: (1) no defaults on domestic or overseas debt have occurred in the past three years, and there are no ongoing instances of delayed principal or interest payments; (2) no material violations of laws or regulations, and no inclusion on any list of seriously untrustworthy entities; (3) the financial statements have not received an adverse opinion or a disclaimer of opinion from the certified public accountant; if a qualified opinion has been issued, the significant impacts arising from the matters covered by such opinion must have been fully resolved. The Notice further clarifies that, for applications by high‑quality enterprises to undergo foreign‑debt review and registration, the National Development and Reform Commission will, building on the existing regulatory framework, implement a dedicated review process, appropriately streamline relevant requirements, and expedite the approval procedures.

Chongqing has issued the nation’s first compliance guidelines covering all areas of the pharmaceutical industry to combat commercial bribery.
Recently, the Chongqing Municipal Supervision Bureau’s website published the “Notice on Issuing the ‘Chongqing Guidelines for Compliance with Anti-Commercial Bribery in the Pharmaceutical Sector.’”
The Guidelines comprise six chapters and thirty-two articles, clearly defining eight types of conduct suspected of constituting commercial bribery. They stipulate that pharmaceutical enterprises and medical and health institutions may establish scientific, systematic procedures for assessing commercial bribery risks, thereby identifying, analyzing, and evaluating such risks within their own organizations. The scope of the risk assessment may encompass new partners, business agreements, third-party oversight, expense reimbursement, and other areas where potential commercial bribery risks may exist. Assessment methods may include comprehensive evaluations and spot‑check assessments; comprehensive assessments should be conducted at least annually, while spot‑check assessments are applicable when the organization receives a risk warning. Pharmaceutical enterprises and medical and health institutions are required to conduct periodic reviews of their commercial bribery risk‑assessment procedures and the validity of the assessment results.

The National Development and Reform Commission has released the “Special Action Plan for Green and Low-Carbon Development of Data Centers.”
On July 23, the National Development and Reform Commission’s website published the “Notice on Issuing the Special Action Plan for Green and Low-Carbon Development of Data Centers.”
The Action Plan aims, by the end of 2025, to achieve a more rational nationwide data center layout, with an overall rack utilization rate of no less than 60%, an average power usage effectiveness (PUE) reduced to below 1.5, and an annual increase of 10% in the share of renewable energy. It also seeks to significantly improve the energy and carbon efficiency per unit of computing power, while deploying the following key tasks: (1) refine the planning and spatial distribution of data center construction; (2) impose stringent energy and water efficiency standards on new projects; (3) promote energy-saving and carbon-reduction upgrades for existing facilities; (4) enhance the utilization of renewable energy; (5) strengthen the efficient and intensive use of resources; and (6) accelerate the adoption and application of energy-efficient technologies and equipment.

The National Development and Reform Commission has issued the “Special Action Plan for Energy Conservation and Carbon Reduction in the Electrolytic Aluminum Industry.”
On July 23, the National Development and Reform Commission’s website published the “Notice on Issuing the Special Action Plan for Energy Conservation and Carbon Reduction in the Electrolytic Aluminum Industry.”
The Action Plan aims that by the end of 2025, at least 30% of electrolytic aluminum capacity will meet or exceed benchmark energy efficiency levels; all capacity below the baseline level will have undergone technological upgrades or been phased out; the industry’s share of renewable energy use will reach at least 25%; and recycled aluminum production will reach 11.5 million tons. Through energy‑saving and carbon‑reduction initiatives, the electrolytic aluminum sector is expected to achieve annual savings of approximately 2.5 million tons of standard coal and reduce CO₂ emissions by about 6.5 million tons during 2024–2025. To this end, the following key tasks are being implemented: (1) optimizing industrial layout and capacity regulation; (2) vigorously advancing energy‑saving and carbon‑reduction upgrades; (3) promoting the substitution of non‑fossil energy sources; (4) fostering collaborative green development across the industrial chain; and (5) driving digital and intelligent transformation.

The Ministry of Transport has issued 12 departmental metrological verification procedures.
On July 23, the website of the Ministry of Transport published the “Notice on the Release of the Foreign-Language Versions of Twelve Departmental Metrological Verification Procedures, Including the ‘Rotary Compactor,’ and Four Departmental Metrological Verification Procedures, Including the ‘Vehicle-Mounted Laser Pavement Roughness Meter.’”
This batch of newly issued departmental metrological verification procedures primarily covers the rotary compactor, asphalt pressure aging tester, electric sand‑spreading device for texture depth measurement, rutting tester, wheel‑roller compactor, compression‑shear testing machine for highway bridge bearings, and anchor bolt quality detector, among others.

The Ministry of Natural Resources has launched a pilot program to conduct a nationwide survey of land degradation caused by mining activities.
Recently, the website of the Ministry of Natural Resources published the “Notice on Launching a Pilot Program for Conducting a Nationwide Survey of Land Degradation Caused by Mining.”
The Notice stipulates that all provinces (autonomous regions, municipalities directly under the central government) shall, in accordance with the “Implementation Plan for the National Survey of Land Damaged by Mining (Trial),” formulate pilot implementation plans specific to their respective jurisdictions, organize and carry out all survey tasks, comprehensively ascertain the current status and baseline data of land damaged by mining—including excavation‑induced damage, overburden occupation, and subsidence—in the pilot counties (cities, districts), establish a database on mined‑damaged land, and submit the survey results. This will enable each province (autonomous region, municipality) to accumulate experience, build capacity, and lay a solid foundation for advancing its own survey efforts and for the full-scale launch of the national survey.

The Ministry of Housing and Urban–Rural Development has launched a public‑interest initiative to conduct follow-up inspections of large‑span steel‑structure public buildings.
On July 24, the website of the Ministry of Housing and Urban–Rural Development issued the “Notice on Launching a Public‑Interest Follow‑Up Campaign for Large‑Span Steel‑Structure Public Buildings.”
The Notice specifies that the initiative will primarily conduct follow-up inspections of completed and operational large-span buildings whose roof structures are steel‑framed, with single‑span spans exceeding 24 meters or cantilever lengths surpassing 8 meters. Priority will be given to large-span structures that were built some time ago, constructed to lower standards, and subjected to harsh service environments. Public buildings with high construction standards, stringent management, and standardized maintenance—such as national-level large sports stadiums, major museums, airport terminals, and high-speed rail waiting halls—may be excluded from the scope of these follow-up inspections.

Eight ministries and commissions have released the results of a supervisory spot check of nationally accredited inspection and testing institutions.
Recently, the State Administration for Market Regulation, together with the Ministry of Public Security, the Ministry of Natural Resources, the Ministry of Ecology and Environment, the Ministry of Transport, the Ministry of Water Resources, the General Administration of Customs, and the National Medical Products Administration, jointly released the results of the 2023 national-level supervisory spot checks on accredited inspection and testing institutions.
This round of supervisory spot checks covered key areas including natural resources, ecological environment, motor vehicles, medical devices and protective equipment, food, and refined petroleum products. A total of 100 nationally accredited inspection and testing institutions were randomly selected for inspection, including 23 national quality inspection centers. The inspections revealed that 30 institutions had engaged in illegal or non-compliant practices, accounting for 30% of all inspected entities. Among them, one institution was found to have issued test data and results beyond the scope of its accreditation certificate.

The State Administration for Market Regulation plans to issue the “Rules on Handling Reports of Fair Competition Reviews.”
On July 23, the website of the State Administration for Market Regulation published the “Announcement on Public Solicitation of Comments on the ‘Rules for Handling Reports of Fair Competition Reviews (Draft for Comments)’,” with a deadline for submitting feedback set for August 1.
The Regulations are divided into four parts, comprising a total of 27 articles. They set forth requirements for the registration of reports, specify the subjects to be verified in different circumstances, delineate circumstances under which cases shall not be processed, outline the materials that must be submitted during verification, identify instances of failure to perform or improper performance of review procedures, establish time limits for verification, and define the conditions for concluding verification. In addition, they clearly articulate the circumstances and content of reminders and urging measures, the circumstances and methods for organizing interviews, as well as the responsibilities of relevant personnel and the coordination between disciplinary and administrative procedures.

The U.S., U.K., and EU antitrust regulators have jointly issued a statement focusing on competition in the artificial intelligence sector.
On July 23, the U.S. Federal Trade Commission (FTC), the Antitrust Division of the U.S. Department of Justice (DOJ), the UK’s Competition and Markets Authority (CMA), and the European Commission (EC) jointly issued the “Joint Statement on Competition in Generative AI Foundation Models and AI Products.”
The Statement clearly identifies the principal competitive risks posed by artificial intelligence as follows: 1. Offices that control key technologies within the AI stack may leverage these critical assets to constrain the scope of disruptive innovation or design AI systems in ways that favor their own interests, thereby undermining competition. 2. Large technology offices may further consolidate and expand their market power in AI‑related markets. 3. Generative AI developers might engage in partnerships, investments, or other arrangements that weaken competition or steer the market in their favor at the expense of the public interest. 4. Algorithms could enable competitors to share competitively sensitive information. 5. Algorithms may facilitate collusive behavior among competitors. 6. Algorithms may prompt offices to adopt price discrimination and exclusionary practices.

The Ministry of Ecology and Environment has released the “National Carbon Market Development Report (2024).”
At the “China Carbon Market Conference 2024” in Wuhan, the Ministry of Ecology and Environment officially released the “National Carbon Market Development Report (2024).”
The “National Carbon Market Development Report (2024)” systematically summarizes the latest progress in the development of both the national carbon emissions trading market and the national voluntary greenhouse gas emission reduction trading market, comprehensively showcases the achievements of market construction and operation, and outlines the future direction of the national carbon market. It is the most recent report on the status of the national carbon market issued by the Ministry of Ecology and Environment, following the 2022 “Report on the First Compliance Period of the National Carbon Emissions Trading Market.”

The revised Regulations for the Implementation of the Law on the Protection of State Secrets have been officially promulgated.
On July 22, the Chinese Government Website published the Regulations for the Implementation of the Law of the People’s Republic of China on the Protection of State Secrets, which will take effect on September 1.
The Regulations comprise six chapters and 74 articles, refining the accountability system for confidentiality work, further emphasizing the principal responsibility of government organs and institutions in ensuring confidentiality, strengthening classification management, and further improving the mechanisms for formulating and revising the scope of classified matters. They specify the key contents that must be included in the scope of classified matters, require organs and institutions with classification authority to compile and promptly update a roster of state secrets, and further detail the procedures for marking sensitive information points and for derivative classification, clearly delineating the specific circumstances in which these measures apply. The Regulations also reinforce the day-to-day confidentiality management responsibilities of government organs and institutions with respect to information systems and equipment, refine the requirements for confidentiality reviews of information disclosure, enhance the confidentiality management of classified meetings and activities, and establish clear systems for managing classified data and corresponding risk‑mitigation measures, among other provisions.

Two departments have issued measures to further strengthen the management of energy consumption labeling for light-duty vehicles.
On July 22, the website of the Ministry of Industry and Information Technology published the “Notice on Further Strengthening the Management of Energy Consumption Labeling for Light-Duty Vehicles.”
The Notice clarifies that automobile manufacturers or imported‑vehicle distributors shall ensure that their light‑duty vehicles bear an energy‑consumption label at the time of sale, with the label’s content, format, material, and application complying with the requirements set forth in “Energy Consumption Label for Light‑Duty Vehicles—Part 1: Gasoline and Diesel Vehicles” and “Energy Consumption Label for Light‑Duty Vehicles—Part 2: Plug‑in Hybrid Electric Vehicles and Battery Electric Vehicles.” When such labels are used in locations other than the vehicle itself, they may be proportionally enlarged or reduced. This Notice takes effect from the date of its issuance. For vehicle models newly granted type approval or mandatory product certification, data must be filed and energy‑consumption labels affixed promptly in accordance with the provisions of this Notice. For models that had already obtained type approval or mandatory product certification prior to the issuance of this Notice, enterprises shall, based on actual circumstances, supplement data filings and replace energy‑consumption labels by September 1, 2024, as required by this Notice.

Five departments have issued guiding opinions on five key areas to accelerate the development of the water-saving industry.
On July 22, the National Development and Reform Commission’s website published the “Guiding Opinions on Accelerating the Development of the Water-Saving Industry.”
The Guiding Opinions set forth that by 2027, the water‑saving industry will reach a scale of one trillion yuan, a number of specialized, refined, distinctive, and innovative “little giant” enterprises will be cultivated, and a development framework will be preliminarily established—centered on enterprises, market‑oriented, driven by innovation, and integrating industry, academia, research, and application. Specific measures are outlined across five key areas: stimulating momentum for the growth of the water‑saving industry; strengthening the supply of water‑saving products and equipment; innovating water‑saving management and service models; leveraging the leading role of flagship enterprises; and advancing technological innovation in the sector. In addition, supporting measures are proposed, including bolstering fiscal, tax, and financial incentives, actively building platforms for exchange and cooperation, and intensifying public awareness‑raising and guidance on water conservation.

The Ministry of Industry and Information Technology is launching a call for exemplary cases of industrial wastewater recycling for 2024.
On July 22, the website of the Ministry of Industry and Information Technology published the “Notice on Launching the Collection of Typical Cases for Industrial Wastewater Recycling in 2024.”
The Notice specifies that the focus will be on key industries such as steel, petrochemicals, textiles, papermaking, and food, as well as priority areas like data centers, with a call for industrial enterprises and industrial parks to submit a selection of exemplary cases in wastewater recycling. Specifically, these include: (1) closed-loop water-use processes; (2) integrated urban–industrial development at the regional level; (3) intelligent water‑use management and control; (4) innovation in technologies and equipment; and (5) synergistic approaches to pollution reduction and carbon mitigation.

The National Development and Reform Commission has revised the Special Management Measures for Central Budgetary Investment in Emergency Rescue and Work Safety.
On July 23, the website of the National Development and Reform Commission published the “Notice on Revising and Issuing the Special Management Measures for Central Budgetary Investment to Enhance Disaster Prevention, Mitigation, and Relief Capabilities (Emergency Rescue and Work Safety Focus).”
The Measures consist of six chapters and twenty-three articles, clearly stipulating that this special program primarily supports projects related to the construction of emergency rescue centers, the enhancement of safety production supervision and inspection capabilities, and the improvement of waterway traffic safety assurance capacities. Specifically, under the category of strengthening safety production supervision and inspection capabilities, priority is given to major projects such as technical support bases for preventing and controlling serious accidents in mines, as well as to projects for building mine safety production supervision and inspection capacity under the vertical management of the Ministry of Emergency Management, and to eligible safety production supervision and inspection capacity‑building projects in the central and western regions.

Two departments have issued work guidelines for opening four types of environmental protection facilities to the public.
Recently, the website of the Ministry of Ecology and Environment published the “Notice on Issuing the Work Guidelines for Four Types of Facilities, Including the ‘Work Guidelines for Opening Ecological and Environmental Monitoring Facilities to the Public (Revised Edition)’.”
This batch of published work guidelines includes the “Guidance on Opening Ecological and Environmental Monitoring Facilities to the Public (Revised Edition),” the “Guidance on Opening Urban Wastewater Treatment Facilities to the Public (Revised Edition),” the “Guidance on Opening Urban Solid Waste Treatment Facilities to the Public (Revised Edition),” and the “Guidance on Opening Hazardous Waste and Waste Electrical and Electronic Equipment Treatment Facilities to the Public (Revised Edition).”

Taxation
Guidance on Key Tax Incentives for Corporate Mergers and Restructuring Has Been Released.
To guide enterprises in the proper application of tax policies related to mergers and reorganizations and to reduce their tax compliance costs, the Ministry of Finance, in collaboration with the State Taxation Administration and other relevant departments, has adopted a problem‑oriented approach and prepared the “Guidance on Key Tax Preferential Policies for Corporate Mergers and Reorganizations.”
The Guidelines systematically review the currently effective major tax preferential policies and tax administration documents supporting corporate mergers and reorganizations. Organized by type of merger or reorganization, they clearly delineate the applicable entities, circumstances, policy provisions, implementation requirements, and legal bases, divided into five sections covering corporate income tax, value-added tax, deed tax, land appreciation tax, and stamp tax. The document also includes a comprehensive compilation of relevant tax policy and administrative guidance materials, aiming to provide taxpayers with a concise, practical, and highly user‑friendly operational guide.

The CPC Central Committee has outlined the key tasks for the new round of fiscal and tax system reform.
The full text of the “Decision of the CPC Central Committee on Further Comprehensively Deepening Reform and Advancing Chinese‑style Modernization,” adopted at the Third Plenary Session of the 20th CPC Central Committee, has been made public, calling for the deepening of fiscal and tax system reform.
The Decision proposes to improve the tax system in ways that promote high-quality development, social equity, and market unity, while optimizing its structure. It calls for studying tax regimes tailored to new business models and forms of economic activity. The direct tax system will be strengthened, with the personal income tax system refined to combine comprehensive and classified approaches; tax policies governing business income, capital income, and property income will be standardized, and a unified tax on labor‑derived income will be implemented. Tax collection and administration reforms will be deepened. Local governments’ fiscal autonomy will be enhanced, local tax bases expanded, and their tax‑administration powers appropriately broadened. The collection point for consumption tax will be shifted downstream and gradually devolved to local authorities; the value‑added tax (VAT) credit‑refund policy and the VAT input‑credit chain will be improved; and the sharing ratios for shared taxes will be optimized. Furthermore, it is proposed to merge the urban maintenance and construction tax, the education surcharge, and the local education surcharge into a single local additional tax, with local governments authorized to set specific applicable tax rates within a prescribed range.

LITIGATION & ARBITRATION
The Ministry of Justice plans to establish a system of guiding cases for administrative reconsideration, providing principled references for administrative review proceedings.
On July 23, the Ministry of Justice website published the “Notice on Soliciting Public Comments on the ‘Provisions on the Work of Guiding Cases in Administrative Review (Draft for Comments)’,” with the deadline for submitting feedback set for August 2.
The Regulations comprise 18 articles and stipulate that guiding cases shall provide guidance in areas such as fact-finding, legal application, policy interpretation, and case-handling methods when adjudicating similar administrative reconsideration cases. Administrative reconsideration authorities at all levels, when handling administrative reconsideration cases whose basic facts, legal applications, policy interpretations, or case-handling approaches are similar to those of published guiding cases, shall, in principle, follow the key principles set forth in the guiding cases. When referring to guiding cases in the adjudication of similar administrative reconsideration matters, administrative reconsideration authorities at all levels may cite the relevant guiding cases to elucidate the law and clarify reasoning; however, they may not rely on guiding cases as the direct basis for determining the outcome of a case in lieu of laws, regulations, or rules.

Supreme People’s Procuratorate: With approval, assistant prosecutors may participate in courtroom debates.
Recently, the Supreme People’s Procuratorate issued the “Opinions on Further Strengthening the Management of Assistant Prosecutors in People’s Procuratorates.” The document comprises five sections and 32 articles, aiming to improve and refine the prosecutorial professional system and introducing a series of new policies and measures to enhance the management of assistant prosecutors.
The Opinions clarify that, under the guidance of prosecutors, prosecutor assistants shall undertake auxiliary prosecutorial tasks centered on evidence review, fact-finding, and the application of law. Prosecutor assistants who have been selected by a screening committee and are awaiting appointment to fill vacancies, as well as those with prior experience serving as prosecutors in case-handling roles, may, under the supervision of the head of the case-handling department or a senior prosecutor, independently assume case-handling duties to a certain extent. Prosecutors providing guidance in case handling shall bear responsibility for reviewing and ensuring the quality of such work. A phased training and development program is implemented for prosecutor assistants; with the approval of the chief prosecutor, higher‑level prosecutor assistants, when assisting prosecutors in court, may, following the prosecutor’s presentation of key facts and legal issues, assist in presenting evidence and cross-examining witnesses, supplementarily articulate their views during court proceedings, and participate in courtroom debates.
The Supreme People’s Procuratorate has issued 48 guidelines to promote the comprehensive and accurate implementation of the judicial accountability system.
Recently, the Supreme People’s Procuratorate issued the “Notice on the Issuance of the ‘Several Opinions on the Comprehensive and Accurate Implementation of the Judicial Accountability System by People’s Procuratorates,’” further advancing the comprehensive and coordinated reform of the judicial system.
The “Several Opinions” comprise eight sections and 48 provisions, clearly defining objectives and principles, and proposing measures to improve the organizational structure and operational mechanisms for judicial case handling; clarify the powers and responsibilities of judicial personnel; delineate the duties of prosecutorial support staff; refine internal checks and oversight mechanisms over prosecutorial authority; enhance the system for determining and holding prosecutors accountable; and strengthen the management framework for prosecutorial power. The document emphasizes that prosecutors shall bear lifelong responsibility for their performance of official duties; if, in the course of performing their duties, errors result but the prosecutor has exercised due diligence and exhibited only ordinary negligence with respect to such outcomes, no judicial liability shall be imposed; furthermore, if a prosecutor’s actions—whether in fact-finding, evidence evaluation, legal application, procedural compliance, or document preparation—fall short of statutory or regulatory requirements but do not undermine the correctness or legal effect of the case’s conclusion, such instances constitute judicial defects and do not give rise to judicial liability. The Supreme People’s Procuratorate, together with the procuratorial organs of all provinces, autonomous regions, and municipalities directly under the central government, shall establish Prosecutor Disciplinary Committees to review prosecutors’ judicial accountability from a professional perspective.

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