JC Master Legal News Issue 1109

Key Takeaways for This Issue

The China Securities Regulatory Commission has conducted a special research study to implement the new “Nine Measures” and promote the development of new‑type productive forces.
To thoroughly implement the State Council’s “Several Opinions on Strengthening Regulation, Preventing Risks, and Promoting High-Quality Development of the Capital Market” (the new “Nine Measures”), recently, Wu Qing, Secretary of the CPC Committee and Chairman of the China Securities Regulatory Commission, led a team to conduct field research and oversight in Beijing, Hangzhou, Shanghai, and other locations. The efforts focused on implementing the capital market’s “1+N” policy framework, further deepening comprehensive reforms, and better supporting the development of new‑type productive forces. During the调研, the team visited four technology‑innovation enterprises on site and held five symposiums, engaging in in‑depth discussions with representatives of listed companies, industry institutions, and heads of certain CSRC‑affiliated units, thereby fully soliciting their views and suggestions.
The National Administration of Financial Regulation has unveiled 24 measures to promote the high-quality development of green insurance.
On April 25, the website of the National Administration of Financial Regulation published the “Guiding Opinions on Promoting the High-Quality Development of Green Insurance.”
The Customs Law has been adopted and will take effect on December 1 of this year.
On April 26, the Ninth Meeting of the Standing Committee of the 14th National People’s Congress adopted the Customs Tariff Law, which will take effect on December 1 of this year.
The Supreme People’s Court has released its 2023 Annual Report on Legal Application Issues in Intellectual Property Cases.
On April 25, the Supreme People’s Court’s WeChat account released an abstract of the Annual Report on Legal Application Issues in Intellectual Property Cases (2023), identifying 41 legal application issues drawn from the intellectual property cases concluded by the Supreme People’s Court in 2023.
Finance & Capital Markets
The China Securities Regulatory Commission is soliciting public comments on the “Regulations on the Supervision of Former CSRC Staff Investing in Companies Planning to Go Public (Trial).”
For a long time, the China Securities Regulatory Commission (CSRC) has, in order to uphold the principles of fairness, impartiality, and transparency in the market, prevent illegal and non‑compliant “wealth‑creation” practices, and strengthen integrity within its regulatory workforce, adopted an approach of self‑examination and targeted oversight. Accordingly, it has implemented end‑to‑end supervision over equity investments made by former CSRC personnel—hereinafter referred to as “former personnel”—in companies seeking to go public. In May 2021, the CSRC issued the “Guidance on the Application of Regulatory Rules—Issuance Category No. 2” (hereinafter referred to as “Guidance No. 2”), which sets out circumstances constituting improper equity participation by former personnel and clarifies the due‑diligence responsibilities of intermediary institutions. The guidance further stipulates that the CSRC will conduct special investigations into such equity‑investment activities and assign its internal audit department to carry out independent reviews, thereby establishing a comprehensive, multi‑layered mechanism for vetting and controlling equity investments by former personnel.

Since the issuance of “Guideline No. 2,” the participation of former CSRC officials in equity stakes of companies seeking an IPO has come under effective oversight, and the average review cycle for such companies has been significantly extended. The market generally perceives that equity investments by former CSRC personnel do not confer any preferential treatment to the companies involved; on the contrary, they have impeded the companies’ IPO processes.

To further consolidate the effectiveness of regulatory oversight and underscore an increasingly stringent regulatory stance, the China Securities Regulatory Commission (CSRC) has drawn on its accumulated experience and, building upon “Guideline No. 2,” formulated the “Regulatory Provisions on Shareholdings by Former CSRC Personnel in Companies Seeking IPOs (Trial)” (hereinafter referred to as the “Regulations on Former Personnel”).

The Regulations on the Supervision of Former Employees incorporate the key provisions of Guideline No. 2 and, building on that framework, introduce three additional measures: First, further strengthen the management of key personnel by extending the non‑investment prohibition period for former employees in issuance‑supervision positions and for officials under the Commission’s direct oversight who have left their posts, increasing it from three years to ten years after departure. Second, broaden the scope of supervision over former employees by expanding the circle of those subject to stringent review—from the former employee themselves to include their parents, spouses, children, and the spouses of those children. Third, impose higher verification standards: intermediary institutions are required to conduct thorough due diligence on former employees’ investment backgrounds, sources of funds, price fairness, and the authenticity of any asset disposals; the China Securities Regulatory Commission will conduct inspections and re‑examinations of such efforts.

Going forward, the China Securities Regulatory Commission will continue to rigorously control market access, strengthen coordination with disciplinary inspection and supervision authorities, and promptly refer any leads involving violations of laws or regulations to the relevant departments for investigation and handling, thereby upholding a fair, just, and transparent regulatory framework for securities issuance.

The China Securities Regulatory Commission has conducted a special research study to implement the new “Nine Measures” and promote the development of new‑type productive forces.
To thoroughly implement the State Council’s “Several Opinions on Strengthening Regulation, Preventing Risks, and Promoting High-Quality Development of the Capital Market” (the new “Nine Measures”), recently, Wu Qing, Secretary of the CPC Committee and Chairman of the China Securities Regulatory Commission, led a team to conduct field research and oversight in Beijing, Hangzhou, Shanghai, and other locations. The efforts focused on implementing the capital market’s “1+N” policy framework, further deepening comprehensive reforms, and better supporting the development of new‑type productive forces. During the调研, the team visited four technology‑innovation enterprises on site and held five symposiums, engaging in in‑depth discussions with representatives of listed companies, industry institutions, and heads of certain CSRC‑affiliated units, thereby fully soliciting their views and suggestions.

Wu Qing pointed out that the CPC Central Committee and the State Council attach great importance to the high-quality development of the capital market. General Secretary Xi Jinping has issued important instructions on multiple occasions, and the new “Nine Measures for the Capital Market” lays out a comprehensive plan. Recently, the State Council held its seventh special study session, setting forth requirements for further deepening capital market reform and promoting the stable and sound development of the capital market. All market participants and units within the CSRC system should take the implementation of the new “Nine Measures” as an opportunity to uphold the political nature and people-centered ethos of capital market work, enhance professional competence, and prioritize robust regulation, risk prevention, and high‑quality development. They must remain committed to a market‑oriented and law‑based approach, respect underlying principles and established rules, and continue to deepen capital market reforms. This includes advancing the stock issuance registration system in a sustained, substantive manner, enhancing inclusiveness toward new industries, business models, and technologies, and fostering the development of new‑type productive forces. The CSRC will proactively strengthen communication and coordination with local Party committees and governments to jointly implement the requirements set forth in the new “Nine Measures,” including rigorously controlling access to issuance and listing, intensifying delisting efforts, improving the quality of listed companies, and preventing and defusing risks in key areas.

Wu Qing emphasized that listed companies are the cornerstone of the capital market and should play a leading role in advancing high‑level scientific and technological innovation and in tackling critical technological bottlenecks. The actual controllers and senior executives of listed companies must adopt a sound perspective on going public, strengthen their awareness of being public enterprises and of delivering value to investors, enhance corporate governance and operational compliance, and strictly regulate practices such as information disclosure, dividend distribution, and share reductions. They should also uphold the entrepreneurial spirit and drive high‑quality development of listed companies. The China Securities Regulatory Commission will continue to ensure the effective implementation of the new “Nine Measures for the Capital Market” and the “16 Measures for Sci‑Tech Innovation,” deepen institutional reforms in areas such as mergers and acquisitions and restructuring, and support technology‑driven enterprises in pursuing innovative development and achieving greater strength and competitiveness. At the same time, it will maintain rigorous oversight of listed companies, crack down decisively on illegal and non‑compliant activities—including financial fraud and unauthorized appropriation—and safeguard the legitimate rights and interests of investors.

Wu Qing emphasized that industry institutions, as key pillars of the capital market, must earnestly study and implement the new “Nine Measures for National Capital Markets,” further refine their business philosophies, return to fundamentals, and achieve high-quality development. Sponsor institutions, accounting offices, law offices, and other intermediary agencies should faithfully fulfill their role as “gatekeepers,” continuously enhance the quality of their professional services, and strengthen industry‑wide cultural development. They must uphold both integrity and innovation, bolster their professional service capabilities, and play an even greater role in fostering the formation of innovative capital and supporting the development of new‑type productive forces. Meanwhile, fund management companies and other specialized investment institutions should adhere to the principles of rational investing, value investing, and long-term investing, providing investors with a broader array of financial products and services.

Wu Qing emphasized that the CSRC system must further implement the requirements of “three areas of excellence,” earnestly strengthen its own development, and prioritize political, professional, and personnel building. It must resolutely address issues such as the “revolving door” between government and business and “flee‑and‑resign” practices, deepen the comprehensive and rigorous governance of the Party and the fight against corruption, and forge a disciplined, loyal, clean, and responsible regulatory force, thereby providing robust safeguards for the high‑quality development of the capital market.

The first session of the “Branch Managers Visit the SSE” special event for 2024 was successfully held.
Recently, the Shanghai Stock Exchange successfully held the first session of its 2024 “Branch Managers Visit the SSE” special initiative, bringing together more than 120 securities office branch managers from 39 locations across 20 provinces nationwide for an on-site visit to the Exchange. The inaugural event integrated site visits, professional training, industry insights, and focused discussions, with a strong emphasis on interpreting the latest policies, introducing key products and services, addressing trading‑related regulatory compliance, and disseminating information on investor protection frameworks and case studies—aiming to be both professional and practical while staying closely aligned with frontline operations.

The State Council’s recently issued “Several Opinions on Strengthening Regulation, Preventing Risks, and Promoting High-Quality Development of the Capital Market” (hereinafter referred to as the new “Nine Measures”) explicitly states that it is necessary to “more effectively safeguard the legitimate rights and interests of investors, particularly small and medium-sized investors, thereby helping to better meet the growing wealth-management needs of the general public.” As the “capillaries” connecting investors with the real economy, branch offices play a vital role in bridging exchanges and investors. They can collaborate closely with exchanges across numerous fronts—such as suitability management, investor relations, and the cultivation of sound investment principles—thereby fulfilling an important frontline function. The special initiative “Branch Managers Visit the SSE” aims to improve the three-tiered investor education and protection mechanism involving exchanges, members, and investors, and to bridge the “last mile” in investor education and protection efforts. It represents another significant step taken by the Shanghai Stock Exchange to steadily advance its work in this area. This year’s program is scheduled to hold six sessions, each accommodating approximately 100 participants, with registration open to front-line branches of securities offices nationwide.

Going forward, with the overarching goal of “accelerating the development of a capital market that is safe, standardized, transparent, open, dynamic, and resilient,” the Shanghai Stock Exchange will, under the unified leadership of the China Securities Regulatory Commission, thoroughly study and grasp the spirit and essence of the new “Nine Measures for National Capital Markets.” Upholding a people-centered value orientation and prioritizing the protection of investors’ interests, the Exchange will continue to exert sustained efforts across multiple fronts—improving business rules, strengthening market supervision, optimizing the market ecosystem, and reinforcing conceptual guidance—to ensure robust investor protection and actively contribute to the high-quality development of China’s capital market.

The National Administration of Financial Regulation has unveiled 24 measures to promote the high-quality development of green insurance.
On April 25, the website of the National Administration of Financial Regulation published the “Guiding Opinions on Promoting the High-Quality Development of Green Insurance.”
The “Guiding Opinions” comprise five sections and twenty-four measures, setting out clear requirements across five key areas: overall objectives; strengthening green insurance coverage in priority sectors; enhancing support for green investment through insurance funds; bolstering the capacity of insurers to manage and operate green insurance products; and ensuring effective implementation. Specifically, the document will focus on the green and low‑carbon technology sector, accelerating the development of science‑and‑technology insurance products—including those covering R&D expense losses, intellectual property, and low‑carbon, zero‑carbon, and negative‑carbon technologies and equipment—exploring the launch of carbon‑related data insurance, integrating environmental, social, and governance (ESG) factors into corporate governance, investment decision‑making, and risk‑management processes, and piloting the establishment of a performance‑evaluation and assessment framework for green investments, among other initiatives.

The People’s Bank of China is seeking public input on draft regulatory guidelines for the non-bank payment industry.
To ensure the effective implementation of the Regulations on the Supervision and Administration of Non-Bank Payment Institutions, the People’s Bank of China is soliciting public comments on the Draft Detailed Rules for the Implementation of the Regulations. The deadline for submitting feedback is May 22, 2024.
The Implementing Rules, aligned with the structure of the Regulations, comprise six chapters and eighty articles. With respect to payment‑business rules, first, it stipulates that the operations of stored‑value accounts and payment‑transaction processing are each divided into Category I and Category II, and clarifies the correspondence between the old and new classification schemes. Second, it sets forth requirements for payment institutions’ internal governance, mandating that they incorporate all regulatory obligations into their corporate policies. Third, it establishes a tiered, stepwise framework for the ratio of a payment institution’s net assets to its average daily balance of customer funds. Fourth, it specifies time limits for the retention of user data and transaction records, as well as requirements for adjusting service fees.

CSRC: Establishing a “green channel” for financing for technology-based enterprises.
To implement the new “Nine Measures of the State,” and to better support scientific and technological innovation, the China Securities Regulatory Commission has formulated the “Sixteen Measures for the Capital Market to Support the High‑Level Development of Technology Enterprises,” introducing comprehensive support measures covering areas such as IPO financing and mergers and acquisitions.
First, establish a “green channel” for financing. Precisely identify technology‑based enterprises and give priority to those that have achieved breakthroughs in critical core technologies, supporting their access to capital market financing. Second, support equity financing for technology‑based enterprises. Facilitate their initial public offerings, subsequent financings, mergers and acquisitions, and overseas listings, while guiding private equity and venture capital funds to invest in the field of technological innovation. Refine the methods, eligible recipients, and implementation procedures for equity‑based incentive schemes for such enterprises. Third, strengthen targeted support in the bond market, with a particular focus on facilitating bond financing for high‑tech companies and offices in strategic emerging industries. Fourth, improve the ancillary institutional framework to better support technological innovation.

The China Securities Regulatory Commission has issued a notice to lower the stock trading commission rates for public mutual funds.
On April 19, the China Securities Regulatory Commission formulated and issued the “Regulations on the Management of Securities Trading Fees for Publicly Offered Mutual Funds,” which will take effect on July 1, 2024.
The Regulations comprise nineteen articles, with four main components: first, reducing the commission rates for fund‑related stock transactions; second, lowering the upper limit on the proportion of securities transaction commissions allocated to fund managers; third, comprehensively strengthening compliance and internal control requirements for fund managers and securities offices; and fourth, clarifying the content and requirements for disclosing transaction commission information at the fund manager level. The China Securities Regulatory Commission will instruct industry institutions to complete the initial adjustment of stock transaction commission rates by July 1, 2024.

Commercial & Corporate
The General Administration of Customs has released typical cases of intellectual property protection by Chinese customs in 2023.
On April 25, the official WeChat account of the General Administration of Customs released typical cases of intellectual property protection in China for 2023.
This batch of typical cases comprises a total of 10. In Case No. 1, a batch of bearings declared for export by a trading company in Ningbo was found to comprise 5,597 sets suspected of infringing intellectual property rights. Specifically, the bodies of 5,557 bearing sets bore the “SKF” mark, 10 bearing sets bore the “NSK” mark, and 10 bearing sets bore the “TIMKEN” mark; additionally, the outer packaging of 20 bearing sets featured the “EMERSON and graphic” mark, yet they were declared as “without Chinese or English brand names.” Following conofficeation by the rights holders, all of the aforementioned bearings were determined to be infringing goods. Customs lawfully detained the goods and initiated an investigation. The value of the goods involved is approximately RMB 847,200, and the case is suspected of constituting a criminal offense. At present, the public security authorities have filed a criminal case, and the investigation is ongoing.

The Ministry of Industry and Information Technology plans to issue Amendment No. 1 to the mandatory national standard “Safety Technical Requirements for Electric Bicycle Chargers.”
On April 25, the website of the Ministry of Industry and Information Technology published a notice soliciting public comments on the first amendment to the mandatory national standard “Safety Technical Requirements for Electric Bicycle Chargers” (Draft for Public Comment). The deadline for submitting feedback is May 24.
The Amendment clarifies that this document does not apply to charging facilities such as battery‑charging/swapping cabinets, charging piles, and fast‑charging stations for electric bicycles. A new provision has been added under “4. Protection Against Electric Shock,” stipulating that chargers for electric bicycles shall not be designed, manufactured, or used in a vehicle‑mounted configuration. Furthermore, “7. Markings, Warning Labels, and Instruction Manuals” has been revised to read “7. Markings, Warning Labels, Instruction Manuals, and Coding,” with additional content incorporated.

Six departments have launched a comprehensive campaign to promote green building materials in rural areas.
On April 25, the website of the State Administration for Market Regulation published the “Notice on Launching a Comprehensive Campaign to Bring Green Building Materials to Rural Areas.”
The Notice clarifies that, building on the pilot programs conducted in 2022 and 2023, six departments have decided to launch, under the theme “Green Building Materials Reach Every Household, Co‑Creating a Better Life,” an extensive nationwide initiative from 2024 to 2026 to bring green building materials to rural areas. The activities will include: (1) vigorously promoting high‑quality development of the green building materials industry; (2) continuously expanding the range of products participating in the outreach program; (3) encouraging innovation in new business forms and models to stimulate consumption of green building materials; (4) exploring a shift from simply bringing “green building material products” to rural areas to providing “integrated green building material system solutions plus specialized rural development services”; (5) establishing an implementation task force, led by the China Building Materials Federation and the Technical Committee for Green Building Material Product Certification, with participation from relevant entities; (6) planning to select and publicly announce approximately five innovative green building material outreach initiatives each year in 2025 and 2026, thereby disseminating and scaling up these model programs; and (7) requiring the pilot regions approved in 2022 and 2023 to play a leading role and continue to effectively carry out the green building materials outreach campaign.

The National Medical Products Administration has released six typical cases of violations involving medical devices.
On April 25, the website of the National Medical Products Administration released information on six typical cases of violations involving medical devices.
In Case No. 1, Shanghai Youya Pharmaceutical Technology Co., Ltd. operated without a medical device manufacturing license and produced Class II medical devices—namely, “Medical Sodium Hyaluronate Repair Patches”—without the requisite medical device registration certificate. The value of the goods involved amounted to RMB 18,781.50, and the illegal gains totaled RMB 16,619.98. The market supervision authority imposed an administrative penalty consisting of the confiscation of the illegal gains in the amount of RMB 16,619.98 and a fine of RMB 375,630.

The State Council: Will expedite the issuance of regulations on the administration of state-owned financial capital.
On April 24, the website of the National People’s Congress of China published the “Report on the Study and Handling of Opinions on the Special Report by the State Council Regarding the Management of State‑Owned Assets in Financial Enterprises, as well as on Rectification and Accountability Measures.”
The Report comprises five key areas, clearly outlining the following: optimizing the functional positioning and strategic layout of state‑owned financial capital; rationally adjusting the allocation of state‑owned financial capital across various financial sectors; continuously strengthening the policy‑oriented financial functions and expanding supply; and promoting differentiated development among state‑owned financial institutions. It also calls for improving the management systems and mechanisms for state‑owned financial capital, expediting the issuance of regulations on the administration of state‑owned financial capital, and revising departmental rules governing the evaluation and supervision of state‑owned assets in financial enterprises. Furthermore, it seeks to enhance the quality and efficiency of state‑owned financial and SOE entities by refining profit‑distribution policies and bolstering capital‑supplementation mechanisms. Additionally, the Report aims to strengthen the capacity of financial services to support the real economy, increasing policy support for the private sector and small, medium, and micro enterprises, while reinforcing risk prevention and control over state‑owned financial assets, among other measures.

Two departments: Strengthen the verification of full-process audit reports for “Little Giant” enterprises specializing in niche fields and demonstrating innovative strengths.
On April 26, the website of the Ministry of Finance published the “Notice from the General Office of the Ministry of Finance and the General Office of the Ministry of Industry and Information Technology on Strengthening the Verification of Audit Reports and Improving the Service and Management of Specialized, Sophisticated, Distinctive, and Innovative ‘Little Giant’ Enterprises,” which sets forth four key areas.
The Notice requires strengthening the filing and coding of audit reports. Small and medium-sized enterprises applying for, or already designated as, “Little Giant” offices specializing in niche fields are required, when conducting annual report audits and other auditing engagements, to ensure that accounting offices promptly file their audit reports on the unified regulatory platform and apply for a verification code. The Notice emphasizes that audit‑report verification will be intensified. The Ministry of Finance and the Ministry of Industry and Information Technology will enhance data sharing across the platform, and, in processes such as the review and approval of “Little Giant” designations, periodic re‑examinations upon expiration, and information updates, they will verify the filing status of the relevant enterprises’ audit reports on the unified regulatory platform. Furthermore, they will, in accordance with the law, rigorously investigate and severely crack down on any illegal or non‑compliant professional conduct by accounting offices or related institutions.

Beijing’s Zhongguancun is building a world‑leading science and technology park, strategically positioning itself to foster next‑generation industries and nurture world‑class indigenous enterprises.
On April 25, the website of the Ministry of Industry and Information Technology publicly released the “Construction Plan for the Zhongguancun World-Leading Science Park (2024–2027).” The plan applies to the entire area of the Zhongguancun Demonstration Zone.
The Plan outlines 50 measures across 22 areas, supporting leading technology enterprises in proactively deploying cutting-edge and disruptive technologies, undertaking major national science and technology initiatives, and accelerating the development of the National New‑Generation Artificial Intelligence Innovation and Development Pilot Zone and the Beijing National AI Innovation and Application Demonstration Zone. It also specifies the implementation of the Zhongguancun Flagship Program for Technology Leaders, establishing a mechanism to nurture such enterprises, with a focus on cultivating, in key sectors including artificial intelligence, foundational and industrial software, intelligent equipment, pharmaceuticals and health, and green energy, technology leaders that boast outstanding core technological capabilities and strong international competitiveness and influence. Furthermore, the Plan promotes integrated innovation among large, medium, and small enterprises, and launches initiatives such as the High‑Tech Enterprise Quality‑and‑Quantity Enhancement Program, the Innovation Capability‑Boosting Program for Technology‑Driven and Innovative SMEs, and the Specialized, Refined, Distinctive, and Innovative SME Cultivation and Upgrading Campaign.
The Plan proposes implementing an initiative to enhance both the quality and quantity of high‑tech enterprises. It calls for exploring the establishment of a tiered, category‑specific support mechanism for high‑tech offices, proactively identifying and selectively nurturing leading technology‑driven companies. Efforts will be intensified to ensure the effective implementation of tax incentives for growing, publicly listed high‑tech enterprises. A pilot program for an “Enterprise Innovation Scorecard” will be launched in Zhongguancun, leveraging innovation scores and related data to encourage small and medium‑sized technology‑ and innovation‑oriented enterprises to undertake highly innovative R&D activities. Progress will be accelerated in building the Beijing Zhongguancun National Independent Innovation Demonstration Zone’s Science and Technology Finance Reform Pilot Zone, with greater support provided through venture capital and public‑market financing to science‑and‑technology‑focused enterprises. Investment entities and angel investors will be encouraged to engage in long‑term investments, and the pilot policy offering corporate income‑tax benefits to corporate‑type venture capital offices will be fully implemented.

The Ministry of Natural Resources has issued a document to strengthen equipment development for the new round of the Strategic Action for Mineral Exploration Breakthroughs.
On April 24, the website of the Ministry of Natural Resources published the “Notice on Issuing the Guiding Opinions on Strengthening Equipment Development for the New Round of Strategic Actions to Achieve Breakthroughs in Mineral Exploration.”
The “Guiding Opinions” set forth the following key tasks: (1) Accelerate the upgrading, research and development, promotion, and replacement of mineral exploration equipment. (2) Strengthen the development and application of green exploration equipment. (3) Promote the industrialization of exploration equipment. Specifically, it calls for including advanced, environmentally friendly, efficient, and suitable domestically developed mineral exploration equipment in the National Catalogue of Major Technological Equipment for Promotion and Application; implementing tax incentives such as tax credits for the purchase of the first unit (set) of a product and accelerated depreciation of fixed assets, as well as insurance compensation policies for the first unit (set); exploring the inclusion of mineral exploration equipment in the Ministry of Finance’s pilot program to support the procurement of the first unit (set); formulating government procurement requirements and domestic‑product standards; reinforcing government procurement demand management; and encouraging central budgetary units to increase their procurement of first‑unit (set) products.

The National Development and Reform Commission has issued a document requiring that radiation monitoring be properly conducted at medical institutions’ radiological facilities.
On April 25, the website of the National Health Commission released the “Notice on Further Strengthening Radiation Monitoring at Medical Radiation Facilities in Healthcare Institutions.”
The Notice clarifies that radiation monitoring results issued by institutions holding qualifications as radiation health technical service providers or accredited as inspection and testing institutions (CMA) for medical institution workplaces shall be recognized by health, ecological environment, and disease prevention and control authorities at all levels. Radiation monitoring activities must simultaneously comply with the relevant supervisory and administrative requirements of the health and ecological environment authorities. Health, ecological environment, and disease prevention and control authorities at all levels shall not require medical institutions to conduct repeated monitoring of the same parameters within a single testing cycle.

The National Energy Administration has launched a special regulatory campaign in 2024 to address prominent issues affecting the order of the electricity market.
On April 22, the website of the National Energy Administration released the “Notice on Conducting a Special Regulatory Inspection into Prominent Issues Affecting the Order of the Electricity Market in 2024.”
The Notice specifies that a special regulatory campaign will be launched nationwide to address prominent issues affecting the order of the electricity market, with a particular focus on the following areas: (1) Implementation of trading rules. Emphasis will be placed on assessing the reasonableness, compliance, and fairness of the conduct of market operators in various types of market transactions since 2023. Specifically, this includes the formulation and revision of detailed implementation rules for trading, as well as the overall adherence to trading rules throughout the entire market‑based electricity trading process. (2) Restrictions on market competition. Particular attention will be given to instances of market operator interference and to the compliance of market participants’ trading practices since 2023. This covers violations of market rules by market operators, unfair competition, market manipulation, collusive price‑setting, and other illicit trading activities by market participants; cross‑provincial and cross‑regional trading by users participating in wholesale power‑energy markets; and the operation of grid‑enterprise‑led electricity‑purchasing mechanisms. (3) Information disclosure and reporting. The focus will be on the information‑disclosure and reporting practices of market operators and grid enterprises since 2023. This includes the management of market information, the establishment of information‑disclosure systems and related platforms, the opening of data interfaces, and the timeliness, accuracy, and completeness of disclosures, as well as the coordination among electricity‑trading entities, dispatching agencies, and grid enterprises in data‑exchange processes. (4) Other salient issues affecting electricity‑market order. This encompasses any additional problems identified by electricity regulators through routine oversight, feedback from market participants, and complaints or reports, which may exist within their respective jurisdictions.

The Ministry of Transport plans to issue four mandatory national standards, including the “Maritime Logbook.”
On April 24, the website of the Ministry of Transport issued a notice soliciting public comments on four draft mandatory national standards, including the “Maritime Logbook (Draft for Public Comment).” The deadline for submitting feedback is June 28.
The mandatory national standards currently open for public comment include “Maritime Logbook (Draft for Public Comment),” “Road Traffic Signs and Markings — Part 1: General Provisions (Draft for Public Comment),” “Road Traffic Signs and Markings — Part 3: Road Traffic Markings (Draft for Public Comment),” and “Road Traffic Signs and Markings — Part 9: Traffic Accident Management Zones (Draft for Public Comment).”

Beijing has issued the “Key Work Priorities for Government Information Disclosure in Beijing, 2024.”
On April 23, the Beijing Municipal Government website published the “Notice on Issuing the Key Work Points for Government Information Disclosure in Beijing for 2024.”
The Work Plan explicitly commits to deepening information disclosure in key areas, advancing thematic releases of government information centered on high-quality development, refined urban governance, safeguarding and improving people’s livelihoods, and strengthening government self‑improvement. It will continue to promote transparency in such fields as the development of cutting-edge, high‑tech industries, the building of a global benchmark city for the digital economy, and the high‑quality growth of small and medium-sized enterprises. Particular emphasis will be placed on publishing and interpreting policy information related to establishing a robust system of advanced, high‑tech industries, fostering emerging industries of the future, developing data infrastructure, advancing the digital economy, and supporting the specialized, refined, distinctive, and innovative development of SMEs.

Shanghai has issued the “Implementation Plan for the Special Campaign on Patent Commercialization and Application.”
On April 24, the Shanghai Municipal Government website published the “Notice on Issuing the Implementation Plan for the Special Campaign on Patent Commercialization and Application in Shanghai.”
The Implementation Plan comprises six key areas and thirty specific measures, aiming to enhance the quality of patent supply, strengthen the alignment between patent supply and demand, promote the industrialization of patents among small and medium-sized enterprises, leverage patents to bolster and improve the efficiency of critical industrial chains, refine the intellectual property (IP) operation system, and elevate the quality and effectiveness of IP‑related financial initiatives. The Plan prioritizes high‑tech enterprises, specialized, refined, distinctive, and innovative offices, and technology‑driven companies, calling for comprehensive registration of patent‑based products and striving to achieve full coverage by the end of 2025. It also encourages enterprises to obtain “patent‑intensive product” certification, establishes a mechanism for calculating and publishing the value added of patent‑intensive industries, and sets a target that, by the end of 2025, the share of patent‑intensive industries in Shanghai’s GDP will reach approximately 20%, with the annual output value of registered patent‑intensive products reaching roughly RMB 70 billion.

Guangdong Work Plan: Launching a National Pilot Program for Innovative Standardization Development
On April 24, the Guangdong Provincial Government website published the “Notice on Issuing the Work Plan for Guangdong Province to Conduct Pilot Projects on National Standardization and Innovative Development.”
The Work Plan comprises eight key areas and twenty-five specific measures, clearly focusing on priority sectors such as green petrochemicals, smart home appliances, and modern light industry and textiles. It aims to strengthen the development and application of technical standards for critical links, key domains, and essential products, while establishing a robust standards framework that aligns with both industrial and innovation chains. Pilot projects will be launched in areas like intelligent manufacturing, green manufacturing, and service‑oriented manufacturing, fostering standard‑driven pathways for industrial upgrading and quality enhancement. In pursuit of digital transformation, the plan will undertake standardized research and strategic planning for emerging business models based on artificial intelligence, the metaverse, and other cutting‑edge technologies, accelerating the formulation of a set of standards that meet international advanced levels, serve as clear benchmarks, and are underpinned by independent intellectual property rights. Concurrently, standards will be developed and promoted in technologically promising fields such as blockchain, new energy, and frontier materials, reinforcing innovation in technology, products, and management, and expediting the commercialization of new technologies.

Eight departments will issue an implementation plan for the project to build a sound intellectual property protection system.
On April 24, the State Council Information Office held a press conference to present updates on China’s efforts to build a strong intellectual property nation in 2023. Shen Changyu, Commissioner of the National Intellectual Property Administration, revealed that eight departments—including the NIPA, the Publicity Department of the CPC Central Committee, the Supreme People’s Court, and the Supreme People’s Procuratorate—are accelerating the formulation and promulgation of an implementation plan for the construction of an intellectual property protection system, which will be released and put into effect in the near future.
The plan focuses on addressing the shortcomings and weaknesses in intellectual property protection, proposing a series of robust measures across seven key areas: policy and standards, authorization and rights conofficeation, law enforcement and judicial proceedings, protection and management, social co‑governance, security governance, and capacity building. Specifically, it adopts five targeted measures to tackle persistent issues such as frequent infringement incidents, lengthy rights‑protection procedures, high维权 costs, low compensation awards, and difficulties in providing evidence. The plan stipulates that, for intentional or repeated infringements of patent rights or refusal to comply with legally effective administrative rulings, joint punitive measures and credit‑based regulatory mechanisms will be applied in accordance with the law. While shortening the time required for IP authorization, it will launch pilot programs for the rapid resolution of disputes; explore a system for judicial conofficeation of administrative mediation agreements in IP disputes upon request by the parties involved; and fully implement a system of punitive damages for infringement, refining adjudicatory standards such as the calculation of damage amounts.

The General Administration of Customs has introduced 17 additional facilitation measures for AEO-certified enterprises, helping to enhance the quality and stabilize the volume of foreign trade.
Recently, the General Administration of Customs published on its website the “Notice on Adding Facilitation Measures for Authorized Economic Operators to Promote Quality Improvement and Stable Growth in Foreign Trade.”
The Notice introduces a new package of 17 facilitation measures across four key areas for Authorized Economic Operators (AEOs): reducing the frequency of inspection and quarantine supervision, lowering enterprises’ import and export costs, enhancing the intelligence of facilitation measures, and improving the precision of business‑oriented services. Specifically, the Notice stipulates that for AEO‑certified exporters of food and cosmetics, the sampling rate for inspection and quarantine will be reduced to below 20% of that applied to entities subject to standard management measures; for packaging of exported hazardous goods manufactured by AEO‑certified enterprises, the performance‑testing cycle will be streamlined to one year; the number of on‑site inspections for enterprises participating in the remote, locally‑based inspection reform will be decreased; and, for production enterprises that have held AEO certification for five years or more, a pilot program allowing conditional exemption from tax‑guarantee requirements will be launched. In addition, the scope of automated data exchange under the AEO framework will be expanded, among other measures.

Five departments have issued the “Administrative Measures for the Inspection and Evaluation of China’s First (Set) Major Technical Equipment.”
On April 23, the website of the State Administration for Market Regulation published the “Notice on Issuing the Measures for the Inspection and Evaluation of China’s First (Set) Major Technical Equipment (Trial).”
The Measures consist of five chapters and twenty-nine articles, stipulating that the evaluation and certification of China’s first-of-its-kind (set) equipment shall, in principle, be conducted once annually on a centralized basis. The State Administration for Market Regulation, in coordination with relevant departments, shall determine the sectors and scope of equipment products to be evaluated and certified in the current year. Enterprises and institutions whose registered domicile and principal innovation activities are located within China may voluntarily apply for the evaluation and certification of equipment products they have researched, developed, and manufactured as China’s first-of-its-kind (set). Should an applicant engage in fraud or employ improper means to pass the evaluation and certification, it shall be removed from the Catalogue of Major Technical Equipment of China’s First-of-Its-Kind (Set), publicly disclosed, and its applications shall not be accepted for a period of five years.

Two departments are soliciting exemplary practices and case studies of diversified mediation in intellectual property disputes for 2023.
On April 24, the website of the National Intellectual Property Administration issued the “Notice on Soliciting Typical Practices and Cases of Multi‑Channel Mediation in Intellectual Property Disputes for 2023.”
The Notice clarifies that exemplary practices and case studies should highlight core responsibilities and priorities, with a particular focus on intellectual property cases involving patents, trademarks, geographical indications, and other relevant categories. Such cases are required to be concluded by the end of 2023. Emphasis should be placed on clarity and thematic coherence, taking full account of the implementation of people’s mediation, administrative mediation, judicial mediation, and other related efforts, while summarizing and distilling diversified mediation models, the application of mediation techniques, and innovative approaches and methods. The submissions must be truthful and accurate, highly demonstrative, and effectively address pressing issues such as the difficulty, lengthy duration, and high costs associated with protecting intellectual property rights, demonstrating representativeness and typicality in terms of professionalism, innovation, and replicability.

Shenzhen plans to introduce the “Regulations on Administrative Law Enforcement Supervision of the Shenzhen Special Economic Zone.”
On April 21, the Shenzhen Municipal Justice Bureau published on its website a notice soliciting public comments on the draft “Regulations of the Shenzhen Special Economic Zone on Supervision of Administrative Law Enforcement,” with the deadline for submitting feedback set for May 22.
The full text of the Regulations comprises seven chapters and 64 articles. It covers general provisions, the scope of oversight, the implementation of oversight, the handling of oversight matters, safeguards for oversight, legal liabilities, and supplementary provisions. The Regulations specify that the main areas of administrative law enforcement oversight include: the legality, appropriateness, and compliance with regulatory standards of administrative law enforcement; the implementation of administrative law enforcement systems; the execution of key working mechanisms in administrative law enforcement; measures to ensure effective administrative law enforcement; the innovation of administrative law enforcement methods; and the lawful advancement of reforms to the administrative law enforcement system. Furthermore, it itemizes and details aspects such as the legality, appropriateness, and regulatory compliance of administrative law enforcement; the implementation of accountability mechanisms; the coordination between administrative law enforcement and criminal justice; and the provision of supporting measures for administrative law enforcement. The Regulations also set forth procedures for oversight handling, delineate circumstances and outcomes of such handling, address objections, prescribe the application of results, and regulate the referral of cases.

Opinions on Two Local Standards, Including the “Rules for Ecological and Environmental Technical Review” Issued by the Shenzhen Market Supervision Administration
On April 22, the Shenzhen Municipal Ecology and Environment Bureau published on its website a notice soliciting public comments on two local standards, including the “Rules for Technical Review of Ecological and Environmental Protection.” The deadline for submitting feedback is May 19.
The Regulations set forth the basic principles, methods and legal basis for technical review of environmental impact assessments in Shenzhen, as well as the review procedures, key review criteria, organizational structure, and work discipline. They apply to the technical review of environmental impact assessment reports for construction projects, environmental impact assessment forms for construction projects, and planning‑level environmental impact assessment reports convened for review, all of which are subject to approval by the competent ecological and environmental authorities of Shenzhen.

Shenzhen plans to issue the “Work Plan for Reform and Optimization of Science and Technology Program Management in Shenzhen.”
On April 22, the Shenzhen Municipal Science and Technology Innovation Bureau published on its website a notice soliciting public comments on the “Work Plan for Reform and Optimization of Shenzhen’s Science and Technology Program Management (Draft for Comments).” The deadline for submitting feedback is May 23.
The Work Plan clearly stipulates that the science and technology planning system should be structured around the principles of being demand‑driven, fostering both internal integration and external collaboration, and deepening the full‑process innovation ecosystem. It calls for reforming and optimizing the management of science and technology programs, strengthening deep industry–university–research integration led by enterprises, and adhering to a coordinated approach that leverages “industry pull, innovation drive, financial support, and talent mobilization” to cultivate new‑type productive forces. This will facilitate the concentration of innovative resources—such as technology, capital, and human capital—within enterprises, establish a long‑term, stable mechanism for supporting basic research, explore a linkage mechanism among major project financing, investment, and subsidies, and consider setting up a seed fund for scientific and technological innovation, thereby building an integrated framework of “government funding + venture capital + science‑and‑technology credit,” among other measures.

Seven departments: Further strengthen the development of green mines.
On April 16, seven departments, including the Ministry of Natural Resources and the Ministry of Ecology and Environment, jointly issued the “Notice on Further Strengthening Green Mine Construction.”
The Notice calls for accelerating the adoption of advanced, green, and low‑carbon technologies. Mining enterprises are urged to upgrade and modernize their technologies, processes, and equipment to align with green and low‑carbon standards, and to embrace cutting‑edge innovations across resource extraction, comprehensive utilization, energy conservation and emissions reduction, and ecological restoration, thereby driving a green and low‑carbon transformation of the mining sector. Furthermore, efforts should be stepped up to integrate information technologies such as 5G, big data, the Internet, and artificial intelligence, fostering the digital, intelligent, and green development of mining companies and enhancing the efficiency of resource exploitation, utilization, and production management.

The Jiangsu Provincial Government has issued the 2024 Catalog of Major Administrative Decision Items.
On April 17, the Jiangsu Provincial Government website published the “Notice on Issuing the Catalog of Major Administrative Decision Items of the Jiangsu Provincial People’s Government for 2024.”
According to the “Catalogue,” in 2024, the Jiangsu Provincial Government will draft the Jiangsu Province Plan for Building a Strong Agricultural Province, formulate the Jiangsu Province Biodiversity Conservation Strategy and Action Plan (2023–2035), develop the Jiangsu Province Coastal Zone and Marine Spatial Plan (2021–2035), draw up the Jiangsu Province Plan for the Protection and Inheritance of Urban and Rural Historical and Cultural Heritage, issue guidelines on the development of international air cargo transport across the province, and adopt an implementation plan to further advance fiscal system reform at and below the provincial level, among other initiatives.

Six departments launch the 2024 National Private Enterprise Service Month campaign.
On April 22, the website of the Ministry of Human Resources and Social Security released the “Notice on Launching the 2024 National Private Enterprise Service Month Campaign.”
The Notice clarifies that six government departments will, from April 15 to May 15, launch the 2024 Private Enterprise Service Month nationwide under the theme “‘Employment’ in Private Enterprises, ‘Careers’ for the Future.” The key activities include: (1) conducting immersive on-site visits and research; (2) delivering targeted policy briefings; (3) organizing tailored recruitment events; (4) facilitating one‑on‑one labor‑supply matching; (5) providing precise career guidance; and (6) strengthening comprehensive safeguards for workers’ rights and interests.

The National Medical Products Administration has streamlined the registration application process to facilitate the transfer of overseas‑manufactured drugs already approved for sale in China to domestic production.
On April 23, the National Medical Products Administration (NMPA) website published the “Announcement on Optimizing Matters Related to Drug Marketing Authorization Applications for the Transfer of Overseas‑Produced Drugs Already Listed in China to Domestic Production.”
The Announcement clarifies that for overseas‑manufactured drugs already approved for marketing in China that are being transferred to domestic production, the application must be submitted by a domestic applicant in accordance with the requirements and procedures for drug marketing authorization. Such applications may include the original registration dossier of the overseas‑manufactured drug, together with relevant study data supporting the transfer to domestic production, to substantiate the marketing authorization application. Specific requirements for the submission of such documentation will be separately formulated and issued by the Center for Drug Evaluation of the National Medical Products Administration. For marketing authorization applications involving originator chemical drugs and biological products that are being transferred to domestic production, the National Medical Products Administration has included them within the scope of priority review and approval.

The National Medical Products Administration has released five typical cases of illegal and non-compliant online pharmaceutical sales.
On April 23, the website of the National Medical Products Administration published five typical cases of illegal and non-compliant online pharmaceutical sales (the fifth batch).
In Case Three, the Xincheng Jiayuan branch of Zhangzhou Laoruilin Pharmacy Chain Co., Ltd. sold “realgar,” a toxic medicinal product prohibited from online sales, through its “Bencao Pu Online Traditional Chinese Medicine Store” website, and failed to provide purchase records or other relevant documentation. As a result, the market supervision authorities ordered it to rectify its illegal conduct and imposed administrative penalties, including a warning, confiscation of 108 grams of realgar, and a fine totaling RMB 50,200. In Case Five, Jiangxi Zhenkang E‑Commerce Co., Ltd., operating without a Pharmaceutical Business License, opened a “Zhenkang Medical Device Specialty Store” on the Meituan platform and sold pharmaceutical products such as Beifushu Bovine Basic Fibroblast Growth Factor Eye Drops. The market supervision authorities accordingly imposed an administrative penalty, including a fine of RMB 200,000.

Taxation
The Customs Law has been adopted and will take effect on December 1 of this year.
On April 26, the Ninth Meeting of the Standing Committee of the 14th National People’s Congress adopted the Customs Tariff Law, which will take effect on December 1 of this year.
As a specialized customs‑tariff law enacted by China, the Customs Tariff Law maintains the basic stability of the existing tariff system and keeps the overall tax burden unchanged, while refining the current institutional framework and related policy provisions and elevating them to the level of law. The Customs Tariff Law comprises seven chapters: General Provisions, Tariff Items and Rates, Taxable Amount, Tax Preferences and Special‑Case Tariff Collection, Collection and Administration, Legal Liabilities, and Supplementary Provisions. With the promulgation of this law, 13 of China’s 18 existing tax categories now have their own statutory frameworks, marking another significant step forward in the country’s tax‑legislation process.

New regulations on “reverse invoicing” have been issued! The State Taxation Administration has clarified the relevant matters.
On April 26, the website of the State Taxation Administration issued the “Announcement on Matters Related to ‘Reverse Invoicing’ by Resource Recycling Enterprises to Individual Sellers of Scrapped Products,” clarifying the procedures for “reverse invoicing.”
The Announcement clarifies that, effective April 29, 2024, when an individual who has scrapped a product sells it to a resource‑recycling enterprise, eligible resource‑recycling enterprises may issue an invoice to the seller (“reverse invoicing”).
The Notice emphasizes that resource‑recycling enterprises—whether legal entities or individual business households (hereinafter the same)—that implement “reverse invoicing” must meet one of the following three conditions and actually engage in resource‑recycling activities: (1) For those engaged in the collection of hazardous waste, they must comply with the State’s Regulations on the Administration of Hazardous Waste Business Licenses and obtain a hazardous waste business license; (2) For those engaged in the recycling of end‑of‑life motor vehicles, they must comply with the State’s Measures for the Administration of the Recycling of End‑of‑Life Motor Vehicles and obtain a qualification certificate as an enterprise authorized to dismantle and recycle such vehicles; (3) Except for hazardous waste and end‑of‑life motor vehicles, other resource‑recycling enterprises must comply with the State’s Measures for the Administration of the Recycling of Renewable Resources, register as a business entity, and file their registration as renewable‑resource recyclers with the competent commerce authorities.

Two departments: No land value-added tax will be levied for the time being on the reform of the rural collective property rights system.
On April 25, the Ministry of Finance website published the “Announcement on the Land Value-Added Tax Policy for the Reform of the Rural Collective Property Rights System” (Ministry of Finance and State Taxation Administration Announcement No. 3 of 2024), which takes effect as of January 1, 2024.
Where village committees or villagers’ groups, in accordance with the requirements of the rural collective property rights system reform, transfer or re-register state-owned land use rights, as well as buildings and other fixtures thereon, under the name of a rural collective economic organization, no land value-added tax shall be levied for the time being. For the purposes of this Announcement, a rural collective economic organization shall, in compliance with applicable regulations, complete registration with the agricultural and rural affairs authorities, be assigned a unified social credit code beginning with the letter “N,” and obtain a Certificate of Registration for Rural Collective Economic Organizations.

Two departments have issued guidelines on tax and fee preferential policies for the manufacturing sector.
On April 25, the “Guidance on Major Tax and Fee Preferential Policies Supporting the Development of China’s Manufacturing Sector,” jointly compiled by the Ministry of Finance and the State Taxation Administration, was publicly released.
The Guidelines comprise a total of 31 measures, including both specialized policies and universal, region‑specific policies. Each measure provides detailed information on nine aspects: eligible beneficiaries, benefits provided, duration of entitlement, eligibility criteria, application deadlines, required documentation, methods of claiming benefits, legal basis, and illustrative examples. The Guidelines emphasize that the listed content does not constitute the basis for tax enforcement or for applying to avail oneself of these policies; official documents shall prevail in policy implementation. Should any of the relevant policies be updated, the most recent provisions shall take precedence.

Litigation & Arbitration
Supreme People’s Procuratorate: From January to March, more than 520 corporate compliance cases were handled nationwide.
On April 26, the Supreme People’s Procuratorate website released key case-handling statistics for procuratorial organs nationwide from January to March 2024.
Data show that from January to March 2024, procuratorial organs intensified efforts to prosecute corruption offenses within private enterprises, bringing charges against more than 2,000 individuals for crimes such as embezzlement and misappropriation of funds—offenses committed by taking advantage of their official positions—representing a year-on-year increase of 43.4%. Additionally, over 3,700 individuals were prosecuted for intellectual property infringement, up 31.5% compared with the same period last year. In cases involving economic crimes where evidence was insufficient, more than 8,000 individuals were not approved for arrest in accordance with the law, and over 2,400 were not prosecuted. Procuratorial authorities also actively yet prudently advanced compliance reforms for enterprises involved in criminal cases, promoting lawful and compliant business operations among private offices. They handled more than 520 compliance-related cases and, in accordance with the law, decided not to prosecute over 680 enterprises and more than 780 individuals that had implemented effective rectification measures.

The Supreme People’s Court has released its 2023 Annual Report on Legal Application Issues in Intellectual Property Cases.
On April 25, the Supreme People’s Court’s WeChat account released an abstract of the Annual Report on Legal Application Issues in Intellectual Property Cases (2023), identifying 41 legal application issues drawn from the intellectual property cases concluded by the Supreme People’s Court in 2023.
The issues summarized in the annual report primarily include: the determination of liability to cease infringement when patent rights are assigned during patent‑infringement litigation; the equivalence assessment of numerically defined technical features; the impact of patent validity on the adjudication of patent‑ownership disputes; the identification of the infringing product when an infringement warning fails to specify a particular product; whether patents on compounds that characterize crystalline structures, as well as patents on compositions containing such compounds, qualify as registrable patent types; the identification and handling of abuse of intellectual property rights; the determination of amendments made by way of claim abandonment; the effect of manifest errors in claim drafting on the clarity of the scope of protection; the principle of need‑based recognition of well‑known trademarks; and the determination of the three‑year non‑use defense in trademark‑infringement proceedings, among others.

The Supreme People’s Procuratorate has released nine typical cases of intellectual property protection handled by procuratorial organs.
On April 25, the Supreme People’s Procuratorate website published the “Notice on Issuing Typical Cases of Intellectual Property Protection by the Procuratorial Organs.”
This batch of typical cases comprises nine in total. In Case No. 1, the procuratorial organs comprehensively employed mechanisms such as soliciting opinions on major and complex cases and conducting supplementary investigations on their own initiative to implement the investigative supervision and collaborative coordination framework, thereby strengthening the evidentiary foundation. While prosecuting the “inside mole” among the rights holders, they continued to conduct a thorough and in-depth investigation, successfully bringing to justice the mastermind behind the trade secret infringement and, in accordance with the law, additionally characterizing the offense as involving a corporate entity. They conducted a comprehensive review of key factual issues, including whether the trade secrets at issue had become publicly known due to the criminal conduct, whether the infringer had put the stolen trade secrets into production, whether the resulting products had entered the market, and whether any sales revenue had been generated, using the license‑fee rate for trade secrets to accurately determine the amount of the crime. Furthermore, they systematically identified potential leakage risks throughout the criminal proceedings and formulated targeted protective measures to minimize the risk of secondary disclosure of the trade secrets involved.

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