JC Master Legal News Issue 1100

Key Takeaways for This Issue
The China Securities Regulatory Commission convened a series of symposiums to solicit opinions and suggestions.
On February 18–19, at the outset of the new year’s work, the China Securities Regulatory Commission convened a series of symposiums to broadly solicit views and suggestions from all sectors on strengthening capital market regulation, preventing and defusing risks, and promoting high-quality development of the capital market. The symposiums were chaired by Wu Qing, Secretary of the CPC Committee and Chairman of the CSRC, along with members of the leadership team. Representatives from academia and research institutions, small and medium-sized investors, listed companies, companies planning to go public, securities and fund management offices, accounting and law offices, private equity offices, and foreign‑invested institutions took part in the discussions.
The “Operational Guidelines for Bank Conofficeation Work” Have Been Issued.
The General Office of the Ministry of Finance and the General Office of the National Administration of Financial Regulation recently issued the “Operational Guidelines for Bank Conofficeation Work,” which will take effect on July 1, 2024.
Three departments convened a symposium to accelerate the legislative process of the Law on Promoting the Private Economy.
On February 21, the Ministry of Justice, the National Development and Reform Commission, and the Legislative Affairs Commission of the Standing Committee of the National People’s Congress jointly convened a symposium on the drafting of the Law on Promoting the Private Economy, soliciting opinions and suggestions from representatives of private enterprises and from experts and scholars.
All 40 cases in the sixth batch of the Supreme People’s Court’s case studies on the development of people’s courts in the new era have been made public.
The Supreme People’s Court, under the theme “Building Fengqiao‑style People’s Courts and Effectively Fulfilling the Statutory Function of Guiding Mediation,” has released the sixth batch of case studies on the development of People’s Courts in the new era. This batch comprises 40 cases, which were published in four installments over four days, from February 18 to 21, covering four thematic sections: “Promoting a New Paradigm in Mediation Work,” “Strengthening the Functional Role of Mediation Guidance,” “Fostering Distinctive Mediation Brands,” and “Enhancing Specialized and Sector‑Specific Mediation.”
Finance & Capital Markets
The China Securities Regulatory Commission convened a series of symposiums to solicit opinions and suggestions.
On February 18–19, at the outset of the new year’s work, the China Securities Regulatory Commission convened a series of symposiums to broadly solicit views and suggestions from all sectors on strengthening capital market regulation, preventing and defusing risks, and promoting high-quality development of the capital market. The symposiums were chaired by Wu Qing, Secretary of the CPC Committee and Chairman of the CSRC, along with members of the leadership team. Representatives from academia and research institutions, small and medium-sized investors, listed companies, companies planning to go public, securities and fund management offices, accounting and law offices, private equity offices, and foreign‑invested institutions took part in the discussions.
At the symposium, participants engaged in in-depth discussions on pressing market concerns as well as institutional, systemic, and policy issues that constrain the long-term development of the capital market, putting forward valuable insights and recommendations. Attendees agreed that the sound development of the capital market is directly linked to the financial well-being of hundreds of millions of investors and to the broader goals of economic and social progress; therefore, regulatory oversight must be tightened rigorously, and concerted efforts must be marshaled to bolster market confidence. It was recommended to strictly control IPO准入, strengthen end-to-end supervision of listed companies, resolutely weed out substandard issuers, and fundamentally enhance the quality of listed offices to boost investment returns. Upholding an investor‑centric approach, participants called for standardizing all types of trading activities and improving the fairness of market rules. They also urged the cultivation and expansion of professional investment capacity, encouraging greater inflows of medium- and long-term capital into the market. Finally, they emphasized staying committed to a market‑oriented, law‑based path, steadfastly deepening capital market reforms, expanding institution‑based opening-up, and solidifying the institutional foundations for high‑quality market development.
Participants noted that, in recent months, the China Securities Regulatory Commission has rigorously investigated and prosecuted a number of cases involving financial fraud and insider trading, yielding significant deterrent effects. They recommended further strengthening penalties for all types of securities‑related violations and crimes, establishing more landmark cases with strong public‑relations impact, and effectively safeguarding the legitimate rights and interests of investors—particularly small and medium‑sized investors—while upholding an open, fair, and just market order.
Relevant officials from the China Securities Regulatory Commission (CSRC) listened carefully to the remarks of the representatives in attendance and expressed their heartfelt gratitude for the strong support that all parties have long extended to the CSRC’s work. The officials stated that the CSRC is currently earnestly implementing the CPC Central Committee and the State Council’s series of important directives on the capital market, vigorously advancing efforts to strengthen regulation, guard against risks, and promote development. As the capital market touches upon every aspect of economic and social life, especially during times of complex and challenging circumstances, it is all the more crucial to keep channels of communication open, pool wisdom from all quarters, and build broad consensus. The CSRC will give serious consideration to opinions and suggestions from all sectors, including critical feedback; it will promptly act on those measures that are proven feasible through rigorous deliberation, while engaging in thorough communication and providing clear explanations for proposals that cannot be implemented immediately. By responding promptly to market concerns and relying on the concerted efforts of all stakeholders, the CSRC aims to ensure the sound construction and robust development of the capital market.
On February 18, the Discipline Inspection and Supervision Group stationed at the China Securities Regulatory Commission convened a special meeting with the Commission’s Party‑related departments to jointly deliberate on strengthening the Commission’s internal capacity-building, deepening the comprehensive and rigorous governance of the Party, better implementing the important instructions and directives of General Secretary Xi Jinping and the decisions and arrangements of the CPC Central Committee, and fulfilling the requirements set forth by the Central Commission for Discipline Inspection and the National Supervisory Commission as well as the Central Financial Work Committee. The meeting emphasized that the CSRC system must squarely confront the gaps and shortcomings in its own development and regulatory work, uphold the political and people‑centered nature of capital market regulation, enforce strict oversight and management across the board, earnestly improve work style, strengthen execution capacity, and drive a profound transformation in the thinking, concepts, and actions of both the leadership team and the cadre workforce. It is imperative to resolutely safeguard market stability, effectively prevent and control market risks, and provide robust guarantees for the high‑quality development of the capital market.
Key officials from relevant departments and bureaus of the China Securities Regulatory Commission attended the symposium.

The Shanghai Stock Exchange’s quantitative trading reporting system has been implemented smoothly.
On September 1, 2023, the Shanghai Stock Exchange issued the “Notice on Matters Relating to Reporting of Algorithmic Trading in Stocks” and the “Notice on Strengthening the Management of Algorithmic Trading,” establishing a dedicated reporting regime and corresponding regulatory arrangements for quantitative trading, which officially took effect on October 9, 2023. Thanks to the concerted efforts of all market participants, these measures have now been smoothly implemented: existing investors have completed their reporting obligations as required, while new entrants have complied with the “report first, trade later” rule. Overall, the quality of reporting meets the stipulated standards, laying a solid foundation for further strengthening and refining the regulation of quantitative trading. Moving forward, the Shanghai Stock Exchange will leverage the reporting data to continuously enhance its monitoring and analysis of quantitative trading—particularly high-frequency trading—and dynamically assess and refine the reporting framework.
In recent years, with the widespread adoption of new information technologies, quantitative trading has become a major trading approach. It helps provide market liquidity and facilitates price discovery. However, quantitative trading—particularly high-frequency trading—confers significant advantages in terms of technology, information access, and speed over small and medium-sized investors. At certain junctures, issues such as strategy convergence and trading resonance can also amplify market volatility. Drawing on international experience, overseas markets generally impose stricter regulatory oversight on quantitative trading, especially high-frequency trading, to mitigate potential adverse impacts on market order. Going forward, the Shanghai Stock Exchange will remain investor‑centric, taking fairness as both its starting point and ultimate goal. By learning from international regulatory practices, it will seek to maximize benefits while minimizing risks, and establish a robust framework for regulating quantitative trading. This includes rigorously enforcing reporting requirements and instituting an “report first, trade later” admission regime; strengthening authorization management for quantitative trading data feeds and refining differentiated fee structures; enhancing standards for monitoring and detecting abnormal trading activities and unusual order‑cancellation patterns; and intensifying oversight of leveraged quantitative products while reinforcing coordinated regulation across spot and futures markets. At the same time, the Exchange will further reinforce securities offices’ responsibilities for client management, improve self‑regulatory coordination mechanisms with the Securities Association and the Asset Management Association, and strengthen oversight of quantitative private‑placement funds and other related entities, among other measures. In addition, the Shanghai Stock Exchange will deepen communication with the Hong Kong Exchanges and Clearing, adhering to the principle of equal treatment for domestic and foreign investors, to clarify reporting obligations for northbound investors under the Shanghai–Hong Kong Stock Connect and bring their quantitative trading activities within the scope of mandatory reporting. For abnormal trading that disrupts market order, the Exchange will resolutely impose self‑regulatory measures; cases suspected of violating laws or regulations and deemed particularly serious will be referred to the China Securities Regulatory Commission for investigation and enforcement.

The spokesperson for the China Securities Regulatory Commission answered questions from reporters regarding relevant media reports.
Q: Recently, some foreign media reported that regulatory authorities have imposed restrictions on major institutional investors, prohibiting them from net selling stocks during the opening and closing sessions and banning institutions from shorting A-shares via stock index futures. What is the CSRC’s view on this?
A: It is a natural law that stock markets experience both rises and falls, and that buying and selling are the norm. Regulatory authorities do not interfere with normal market trading and, in accordance with the law, safeguard investors’ rights to fair and free trading. At the same time, they resolutely crack down, in line with laws and regulations, on illegal and non‑compliant activities that disrupt market order. Recently, the Shanghai and Shenzhen Stock Exchanges have, in compliance with relevant rules, imposed regulatory measures on the abnormal trading practices of certain institutions—actions taken to fulfill their trading‑supervision duties, rather than restrictions on selling. Going forward, we will guide the Shanghai and Shenzhen Stock Exchanges, as well as the China Financial Futures Exchange, in refining their standards for monitoring abnormal trading, and in rigorously enforcing the law against market manipulation, insider trading, and other unlawful conduct, thereby effectively upholding the orderly functioning of the market.

The rate cut has finally been implemented, with the 5-year LPR posting its largest-ever reduction.
On February 20, the People’s Bank of China authorized the National Interbank Funding Center to announce that the Loan Prime Rate (LPR) as of February 20, 2024, is as follows: the 1-year LPR remains unchanged at 3.45%, while the LPR for terms of 5 years and above has been lowered from 4.2% to 3.95%.

The “Operational Guidelines for Bank Conofficeation Work” Have Been Issued.
The General Office of the Ministry of Finance and the General Office of the National Administration of Financial Regulation recently issued the “Operational Guidelines for Bank Conofficeation Work,” which will take effect on July 1, 2024.
The Guidelines further clarify and detail specific matters related to bank conofficeation procedures, comprising three components: instructions for handling bank conofficeations, an overview of the standard formats for bank conofficeation letters, and guidance on completing the items on such letters. The Guidelines specify that Bank Conofficeation Letter (Form I) and Bank Conofficeation Letter (Form II) are primarily intended for use by certified public accountants in the course of auditing financial statements. Certified public accountants shall, based on the actual circumstances, complete fields pertaining to the purpose of the conofficeation process, the applicable standards, the method of returning the conofficeation, and contact information. Furthermore, the address, contact person, telephone number, and email address of the accounting office issuing the conofficeation must be provided in full and may not be left blank.

Regulatory ratings for auto finance companies have been released, further enhancing the risk‑based regulatory framework.
On February 19, the website of the National Administration of Financial Regulation publicly released the “Regulatory Rating Measures for Auto Finance Companies,” which took effect on February 8, 2024.
The Measures comprise five chapters and twenty-two articles, covering general provisions, rating factors, organizational implementation, rating results and their application, and other related matters. The Measures establish six rating factors—corporate governance, capital management, risk management, professional service capability, consumer rights protection, and information technology management—assigning respective weightings of 10%, 10%, 35%, 20%, 15%, and 10%, and set forth the principles for scoring. The regulatory rating of auto finance companies is conducted through a series of steps, including preliminary assessment, re‑assessment, review, and feedback on the rating results. Rating outcomes are classified into five levels, from 1 to 5, as well as an S‑level, with higher numerical ratings indicating greater institutional risk and warranting enhanced supervisory scrutiny. The Measures also clarify the principles and measures for categorized supervision, stipulating that regulatory ratings shall serve as a prudential criterion for the tiered and categorized regulation of auto finance companies’ business activities.

The National Development and Reform Commission plans to issue the Provisional Measures for the Administration of Special Central Budgetary Investment to Guide Private Investment.
On February 18, the website of the National Development and Reform Commission published an announcement soliciting public comments on the “Interim Measures for the Administration of Special Central Budgetary Investment to Guide Private Investment (Draft for Comments).” The deadline for submitting feedback is March 18.
The Measures consist of seven chapters and 27 articles, stipulating that a special fund will be awarded to regions that have achieved notable results in promoting private investment. The funds will be used to support the construction of relevant projects, enhance their profitability, attract private capital, and broaden investment channels for private investors. Priority will be given to commercially viable projects with a public‑benefit orientation in sectors such as infrastructure and social services, where private capital is involved. Specifically, for projects receiving central budgetary investment, the total investment must be no less than RMB 100 million, and the allocation to each project must be no less than RMB 20 million; the proportion of support provided to any single project shall, in principle, not exceed 60% of its total investment. The special‑purpose funding will be directly allocated by the National Development and Reform Commission to the projects through equity injections, with the state‑owned property rights or equity interests arising from the central budgetary investment held by local authorities.

Aligning with New Accounting Standards, the CSRC Refines Disclosure Requirements for Insurance Companies
The China Securities Regulatory Commission has revised “Rule No. 4 on Information Disclosure by Companies Issuing Securities to the Public—Special Provisions on Information Disclosure by Insurance Companies” and is soliciting public comments until March 8, 2024.
This revision, in conjunction with relevant regulations such as “Accounting Standard for Business Enterprises No. 25—Insurance Contracts,” “Accounting Standard for Business Enterprises No. 22—Recognition and Measurement of Financial Instruments,” and the “Regulations on Solvency Supervision for Insurance Companies (II),” adjusts the disclosure requirements for pertinent accounting and operational indicators. Specifically, it revises certain indicators previously defined under the old standards in Articles 4, 6, and 8, and introduces new accounting data and financial metrics under the updated standards that facilitate investors’ understanding of insurance companies’ operating and financial performance.

Commercial & Corporate
The Ministry of Natural Resources plans to issue the Measures for the Administration of the Provision of Classified Surveying and Mapping Results to Foreign Entities.
On February 20, the website of the Ministry of Natural Resources published the “Notice on Public Solicitation of Comments on the Measures for the Administration of the Provision of Classified Surveying and Mapping Results to Foreign Entities (Draft for Comments),” with a deadline of 30 days from the date of publication.
The Measures clarify that classified surveying and mapping results refer to those designated as state secrets in accordance with the Regulations on the Scope of State Secrets in the Administration of Surveying and Mapping and Geoinformation, and stipulate a tiered approval system for the external provision of such results. Article 6 sets forth three specific conditions that must be met when applying to provide classified surveying and mapping results to external entities; Article 7 specifies the documents that must be submitted with such applications; and Article 13 outlines four circumstances under which approval shall be denied.

Four departments have jointly issued the “Key Work Points for Enhancing National Digital Literacy and Skills in 2024.”
Recently, the Cyberspace Administration of China, the Ministry of Education, the Ministry of Industry and Information Technology, and the Ministry of Human Resources and Social Security jointly issued the “Key Work Points for Enhancing National Digital Literacy and Skills in 2024.”
The “Key Work Plan” outlines 17 priority tasks across six areas, calling for the cultivation of high-caliber, multidisciplinary digital talent; the acceleration of efforts to bridge the digital divide and bolster the growth, quality, and scale of the digital economy; the expedited digital transformation and upgrading of enterprises; the expansion of digital consumption demand; the development of smart, convenient digital lifestyle scenarios; the creation of a positive, healthy, and well-ordered cyberspace; and the enhancement of a coordinated support system, the increased provision of high-quality digital resources, and active participation in international exchanges and cooperation.

The Ministry of Industry and Information Technology has issued the Guidelines for Building a Standards System for Carbon Peaking and Carbon Neutrality in the Industrial Sector.
On February 21, the website of the Ministry of Industry and Information Technology published the “Notice on Issuing the Guidelines for Building a Standards System for Carbon Peaking and Carbon Neutrality in the Industrial Sector.”
The Guidelines clearly state that the framework of the carbon peaking and carbon neutrality standards system for the industrial sector comprises five major categories: foundational and general standards, accounting and verification, technologies and equipment, monitoring, and management and evaluation. Among these, the foundational and general standards refer to the basic, cross‑cutting standards relevant to carbon peaking and carbon neutrality in the industrial domain, covering areas such as terminology and definitions, data quality, labeling and marking, and reporting, declarations, and information disclosure. The accounting and verification standards encompass those related to the accounting and verification of organizational greenhouse gas emissions, project‑level greenhouse gas emission reductions, product carbon footprints, as well as qualification and competency requirements for verification bodies and personnel.

The Ministry of Transport plans to issue a catalog for the management of specialized measuring instruments used in road and waterway transportation.
On February 21, the website of the Ministry of Transport published the “Notice on Soliciting Comments on the ‘Catalogue of Specialized Metrological Instruments for Highway Use (Draft for Public Comment)’ and the ‘Catalogue of Specialized Metrological Instruments for Water Transport (Draft for Public Comment),’” with a deadline for submitting feedback set for March 15.
The “Catalogue for the Administration of Highway‑Specific Measuring Instruments” is divided into three specialized areas—infrastructure construction, transportation equipment, and traffic operation management—and includes 253 metrological technical specifications related to highway‑specific measuring instruments. The “Catalogue for the Administration of Waterway‑Specific Measuring Instruments” is organized into three specialties—infrastructure construction, waterway equipment, and waterway support and assurance—and lists 120 items of waterway‑specific measuring instruments.

The State Administration for Market Regulation has issued 29 national metrological technical specifications, including the “Verification System Table for Capacitance Measuring Instruments.”
On February 21, the website of the State Administration for Market Regulation published the “Announcement on the Release of 29 National Metrological Technical Specifications, Including the ‘Verification System Table for Capacitance Measuring Instruments.’”
The national metrological technical specifications published in the Announcement primarily include the “Verification System Table for Capacitance Measuring Instruments,” the “Verification System Table for Inductance Measuring Instruments,” the “Verification Procedure for Gas Volumetric Flow Meters,” the “Verification Procedure for Flow Standard Devices Based on the Standard Meter Method,” the “Verification Procedure for Taxi Meter Verification Devices,” the “Verification Procedure for Optical Time-Domain Reflectometers,” the “Verification Procedure for Transmissive Smoke Meters,” and the “Technical Requirements for the Development (Production) of Reference Materials for Quantitative Analysis by Electron Probe Microanalysis,” among others.

The National Intellectual Property Administration is soliciting and selecting outstanding cases of patent commercialization.
On February 22, the website of the National Intellectual Property Administration issued the “Notice on Soliciting and Selecting Outstanding Cases of Patent Commercialization.”
The Notice clarifies that case studies should focus on the patent commercialization process, with particular emphasis on innovative approaches and methodologies, solutions to practical challenges, and tangible outcomes. They should underscore a commitment to high-quality development, highlight the market value and social benefits generated by the industrialization of patented technologies, demonstrate practical effectiveness and serve as exemplary models, and provide guidance for broader application. Case studies must be truthful, accurate, comprehensive, and concise, with content suitable for public disclosure.

Beijing has issued the Provisional Measures for the Cultivation and Management of Green Manufacturing Enterprises.
On February 21, the Beijing Municipal Government website published the “Notice on Issuing the Provisional Measures for the Cultivation and Management of Green Manufacturing Enterprises in Beijing.”
The Measures comprise six chapters and twenty-one articles, encouraging green‑manufacturing enterprises to continuously advance green development and undertake upgrades toward greening, intelligentization, and digitalization. They stipulate that, in accordance with laws and regulations, relevant departments will provide support to such enterprises in areas including planning and spatial layout, technological upgrading, applications for special funds, government procurement, pilot and demonstration projects, financial services, and brand promotion.

Shanghai Lingang has issued an implementation plan to promote the demonstration application of new energy storage technologies.
Recently, the website of the Shanghai Lingang Administration Committee published the “Notice on Issuing the Implementation Plan for Promoting Demonstration Applications of New‑Type Energy Storage and Leading Industrial Innovation in the Lingang New Area of the China (Shanghai) Pilot Free Trade Zone.”
The Implementation Plan outlines 16 key tasks across four areas: (1) promoting the multi‑scenario application of new‑type energy storage; (2) fostering innovative development of the new‑type energy storage industry; (3) strengthening project management for new‑type energy storage; and (4) supporting high‑quality development and market‑oriented operations of new‑type energy storage. The Plan specifies that projects in the new‑type energy storage sector that demonstrate strategic leadership and forward‑looking planning will receive support equivalent to 10% of the project’s additional investment, with funding capped at RMB 100 million. For projects that play a pivotal role in driving the industrial ecosystem, the maximum support amount is RMB 1 billion.

The State-owned Assets Supervision and Administration Commission of the State Council convened a special symposium on artificial intelligence for central enterprises.
On February 19, the State-owned Assets Supervision and Administration Commission of the State Council convened a special symposium on artificial intelligence for central enterprises, themed “AI Empowers Industrial Transformation.”
The meeting emphasized that central enterprises should integrate the development of artificial intelligence into their overall strategic planning, vigorously advance industrial upgrading, and accelerate the deployment and growth of the AI industry. They must strengthen the foundational infrastructure, concentrate key resources on areas where they have the greatest need and distinct advantages, expedite the construction of a number of intelligent computing centers, further deepen open cooperation, and better leverage the role of inter‑enterprise collaborative innovation platforms. In addition, they should launch targeted “AI+” initiatives, reinforce demand‑driven approaches, speed up empowerment across priority sectors, build a suite of high‑quality, multimodal industry‑specific datasets, and foster an AI‑powered industrial ecosystem spanning infrastructure, algorithmic tools, intelligent platforms, and end‑to‑end solutions.

The European Commission has published the “2024 Report on the Single Market and Competitiveness.”
On February 14, the European Commission released the “2024 Report on the Single Market and Competitiveness,” which provides a detailed overview of the EU single market’s competitive advantages and challenges.
The Report tracks the annual evolution of the EU Single Market based on the nine competitiveness drivers identified in the European Commission’s 2023 report, “EU Long-Term Competitiveness: Outlook to 2030,” underscoring the need to strengthen intra‑EU integration and the market’s resilience. These nine factors encompass the functioning of the Single Market, access to private capital, public investment and infrastructure, research and innovation, energy, the circular economy, digitalization, education and skills, as well as trade and strategic autonomy.

Three departments convened a symposium to accelerate the legislative process of the Law on Promoting the Private Economy.
On February 21, the Ministry of Justice, the National Development and Reform Commission, and the Legislative Affairs Commission of the Standing Committee of the National People’s Congress jointly convened a symposium on the drafting of the Law on Promoting the Private Economy, soliciting opinions and suggestions from representatives of private enterprises and from experts and scholars.
The meeting emphasized the need to focus on core concerns of private enterprises, including the lawful protection of their property rights and the rights and interests of entrepreneurs, fair participation in market competition, equal access to production factors, impartial law enforcement and justice, and the effective resolution of payment arrears owed to small and medium-sized enterprises. It called for the establishment and improvement of relevant institutional frameworks, leveraging rule-of-law thinking and approaches to ensure consistency and stability in policy formulation and implementation, thereby further bolstering confidence, unleashing the endogenous momentum and innovative vitality of all types of market entities, and accelerating the development of new‑type productive forces.

Guangzhou Optimizes and Adjusts Its Employment-Stabilization Policies
The Guangzhou Municipal Human Resources and Social Security Bureau has published a notice titled “Notice on Forwarding the ‘Notice of the General Office of the People’s Government of Guangdong Province on Optimizing and Adjusting Policies and Measures for Stabilizing Employment to Fully Promote Development and Benefit the People.’”
The Notice sets out a total of 20 measures. With respect to the adjustment of the medical insurance contribution base, the upper and lower limits for the employee basic medical insurance contribution base are revised to 300% and 60% of the city’s average monthly wage of all urban employed persons in the preceding year, respectively. The employer’s contribution rate for employee medical insurance is reduced from 8.76% (including 0.26% for major illness medical subsidies and 0.5% for supplementary medical insurance) to 6%, and no separate contributions for major illness medical subsidies or supplementary medical insurance will be levied.

The Fourth Meeting of the Central Commission for Comprehensively Deepening Reform was held, during which multiple documents were reviewed and approved.
On February 19, the Fourth Meeting of the Central Commission for Comprehensively Deepening Reform was held, at which it reviewed and approved documents including the “Opinions on Reforming the Land Management System to Strengthen Support for High-Quality Development in Priority Regions,” the “Opinions on Promoting a Comprehensive Green Transformation of Economic and Social Development,” and the “Opinions on Accelerating the Establishment of Basic Systems to Support All-Round Innovation.”
The meeting emphasized the need to establish and improve a land management system that is more efficiently aligned with macro policies and regional development, enhance the precision of land‑resource allocation and its utilization efficiency, and foster a spatial development pattern characterized by effective constraints on primary functions and coordinated, orderly land use, thereby strengthening the capacity of land resources to underpin high‑quality development in regions with comparative advantages. Guided by the “dual carbon” goals, it is essential to advance decarbonization, pollution reduction, ecological restoration, and economic growth in a coordinated manner, integrating the concept of green development into every aspect of economic and social progress. Furthermore, focusing on the key challenges that hinder the deep integration of science, technology, and the economy, we must continue to deepen reform and tackle tough issues—clarifying what innovation should achieve, who will lead and organize it, and how to support, incentivize, and protect innovative endeavors—while accelerating the establishment of a comprehensive institutional framework for innovation.

Shenzhen has issued 24 measures to ensure stable foreign trade in terms of scale, market share, and growth.
On February 20, the Shenzhen Municipal Government website published the “Notice on Issuing the Measures for Promoting Stable Foreign Trade Scale, Market Share, and Growth in Shenzhen.”
The “Work Measures” outlines 24 initiatives across seven key areas, specifying that support will be strengthened by increasing underwriting limits for export credit insurance coverage for priority industrial clusters and specialized, refined, distinctive, and innovative “Little Giant” enterprises; promoting large manufacturing offices and their upstream and downstream partners to conduct international trade in Shenzhen; vigorously attracting leading enterprises to establish trade‑oriented headquarters and procurement‑settlement entities in the city; rolling out a group‑based regulatory model for processing trade; fostering and expanding automobile exports; continuously optimizing the structure of imported goods; advancing the sound and sustainable development of cross‑border e‑commerce; improving the overseas warehouse network; developing offshore trade; streamlining procedures for foreign‑trade enterprises to obtain entry‑exit permits; and providing free China Export & Credit Insurance Corporation (Sinosure) overseas credit reports to small, medium, and micro‑sized foreign‑trade enterprises that obtain export credit insurance policies, among other measures.

Beijing has unveiled 31 key initiatives to foster and develop itself into an international consumption center city.
On February 20, the Beijing Municipal Government website published the “Notice on Issuing the ‘Key Work Priorities for 2024 in Cultivating and Building Beijing into an International Consumption Center City.’”
The “Key Work Plan” comprises seven areas and 31 specific measures, calling for vigorous efforts to develop new commercial districts and upgrade existing ones, accelerate the creation of a number of benchmark consumer‑oriented projects, steadily advance the development of 15‑minute convenient living circles, innovatively cultivate integrated consumption scenarios, promote initiatives such as the recognition of “Timeless Beijing Brands,” deepen the incubation of emerging consumer brands, enhance the influence of domestic brands, expedite the building of a global culinary capital, foster the growth of first‑store economies and trendy consumption, further improve the business environment for used‑car trading, expand green and smart consumption, support the innovative development of new models like livestream e‑commerce, broaden the scope of innovative applications in information consumption, ensure that domestic and foreign‑trade products are produced on the same lines, meet the same standards, and maintain the same quality, nurture enterprises that integrate domestic and foreign trade, expand the pilot program for instant tax refunds upon purchase at departure points, increase the number of participating duty‑free shops, and continue to refine and extend the pilot categories for cross‑border e‑commerce sales of pharmaceutical products, among other measures.

Four departments have jointly issued an action plan to advance the prevention and control of noise pollution at civil transport airports.
Recently, the Civil Aviation Administration of China, the Ministry of Ecology and Environment, the Ministry of Natural Resources, and the State Administration for Market Regulation jointly issued the “Action Plan for Controlling Noise Pollution from Civil Aircraft in Areas Surrounding Civil Transport Airports (2024–2027).”
The Action Plan is the first comprehensive document in the field of airport noise pollution control, outlining 13 key tasks across four areas. First, it calls for accelerating the development of a standards system for airport noise pollution prevention and control, including expediting the refinement of national standards related to airport noise management and strengthening civil aviation standards and regulations in this domain. Second, it emphasizes coordinated oversight and management of airport noise pollution, encompassing enhanced planning coordination, rapid improvements in airport noise monitoring capabilities, in-depth implementation of environmental impact assessments for airport construction projects, and the establishment of a robust, collaborative regulatory framework for airport noise pollution. Third, it seeks to deepen efforts to mitigate airport noise pollution by enforcing accountability for noise prevention and control and piloting measures to reduce noise levels at airports. Fourth, it aims to bolster scientific and technological support for airport noise pollution control.

The Ministry of Finance has issued the Measures for the Administration of Funds for Key Ecological Protection, Restoration, and Governance.
On February 21, the Ministry of Finance’s website published the “Notice on Issuing the Measures for the Administration of Funds for Key Ecological Protection, Restoration, and Governance.”
The Measures comprise nineteen articles and specify that the scope of funding for remediation primarily covers the following areas: (1) Integrated conservation and restoration projects for mountains, waters, forests, farmlands, lakes, grasslands, and deserts, adhering to the principle of prioritizing protection and relying mainly on natural recovery. (2) Remediation of historically abandoned industrial and mining sites. Remediation funds shall be allocated first to address pressing ecological issues and may not be used for the following expenditures: projects that fail to comply with national regulatory requirements regarding nature reserves, ecological protection redlines, or arable land protection redlines; projects with clearly identified responsible parties for remediation; projects already receiving central government financial support; or landscape‑building projects such as parks, plazas, sculptures, and “bonsai”‑style developments.

The Ministry of Industry and Information Technology has launched the 2024 industrial energy conservation inspection campaign.
On February 20, the website of the Ministry of Industry and Information Technology published the “Notice on Organizing and Carrying Out the 2024 Industrial Energy Conservation Supervision Work.”
The Notice specifies that comprehensive national special inspections on industrial energy conservation shall be carried out, covering targeted audits of energy efficiency in key industries, in key energy‑using equipment, and in priority sectors. It also mandates a special inspection in 2023 to verify the implementation of corrective measures by enterprises found to be in violation. In addition, routine industrial energy‑conservation inspections will continue to be conducted. For key energy‑intensive enterprises in sectors with high energy consumption and rapid growth, as well as for national green data centers and national green factories that were not included in the inspection scope during the first three years of the 14th Five‑Year Plan, inspections will be undertaken to assess compliance with mandatory national standards—such as sector‑specific energy‑consumption limits and energy‑efficiency requirements for key energy‑using products and equipment. Furthermore, these inspections will evaluate the implementation of energy‑management systems at key energy‑using enterprises, including the establishment of dedicated energy‑management positions and the fulfillment of duties by designated energy‑management officers.

The National Energy Administration has issued the 2023 Supplementary Plan for the Development and Revision of Industry Standards in the Energy Sector.
Recently, the website of the National Energy Administration published the “Notice on Issuing the Supplementary Plan for the Formulation and Revision of Industry Standards in the Energy Sector for 2023.”
The Notice specifies that the supplementary plan encompasses the development of nine industry standards, primarily including: “Code for Electrical Safety in High-Voltage DC Converter Stations,” “Operating Procedures for High-Voltage DC Converter Stations,” “Specifications for Fire-Fighting Equipment Configuration in High-Voltage DC Converter Stations,” “Maintenance and Testing Procedures for Equipment at High-Voltage DC Converter Stations,” “Technical Supervision Guidelines for Ultra-High-Voltage Converter Stations,” and “System Testing for Ultra-High-Voltage Hybrid DC Transmission Projects,” among others.

Shanghai has issued the “Administrative Measures for Competitive Allocation of Renewable Energy Projects in Shanghai.”
On February 20, the Shanghai Municipal Government website published the “Notice on Issuing the Measures for the Competitive Allocation of Renewable Energy Projects in Shanghai.”
The Measures comprise eleven articles and apply to the competitive allocation of investment entities for offshore renewable energy projects, as well as to the competitive allocation of guaranteed‑access grid‑connection capacity for onshore wind and photovoltaic power plants. They specify that the key factors in the competitive allocation of offshore renewable energy projects include corporate capabilities, equipment sophistication, technical proposals, and submitted tariff levels; while for onshore wind and photovoltaic power plants under the guaranteed‑access scheme, the principal allocation criteria encompass corporate capabilities, equipment sophistication, technical proposals, progress in preliminary work, grid‑connection and consumption conditions, and submitted tariff levels.

The CPC Central Committee: It is strictly prohibited to use study and education as a pretext for official-funded tourism or to engage in improper business activities.
On February 19, the Chinese Government Website published the Regulations on Party History Study and Education. The Regulations comprise six chapters and thirty-four articles, providing comprehensive provisions on the leadership system and responsibilities, content, principal forms, safeguards, and oversight mechanisms for party history study and education.
The Regulations stipulate that mistakes and setbacks encountered by the Party on its path forward must be properly addressed, and historical nihilism must be officely opposed and resisted. In principle, Party committees (Party leading groups) at all levels shall conduct a comprehensive assessment of the implementation of Party history study and education once every five years. In carrying out Party history study and education, it is essential to uphold frugality and thrift, make full use of local resources to organize relevant activities on site, and strictly prohibit disguised official‑funded tourism under the guise of study and education. It is also strictly forbidden to exploit such activities for improper commercial practices or to impose, by force, the purchase of supplementary reading materials, audio‑visual products, or other learning resources.

Four departments have jointly launched a nationwide survey of data resources.
On February 19, the website of the National Data Administration released the “Notice on Conducting a Nationwide Survey of Data Resources.”
The Notice clarifies that the survey targets provincial-level data management agencies, departments in charge of industry and information technology, and public security departments (bureaus); key data‑collection and storage equipment vendors in each province; consumer‑oriented internet platforms and industrial‑internet platform enterprises; big‑data and artificial‑intelligence technology offices; application‑oriented enterprises; data exchanges; national laboratories; central state‑owned enterprises; industry associations and chambers of commerce; and the National Information Center. Among these, central state‑owned enterprise operators are required to use the platform to complete the “Operator Data Resources Survey Form,” while other central state‑owned enterprises shall use the platform to complete the “Central State‑Owned Enterprise (excluding Operators) Data Resources Survey Form.”

SASAC: Ensure the Proper Completion of 2023 Statistical Reporting and Financial Statement Preparation for State-Owned Assets of Local Enterprises
On February 20, the website of the State-owned Assets Supervision and Administration Commission of the State Council issued the “Notice on Properly Conducting the 2023 Statistical Reporting and Financial Statement Preparation for Local State-owned Enterprises.”
The Notice requires strict compliance with all relevant accounting laws and regulations, accurate determination of the consolidation scope, appropriate provision for various impairment losses, standardized recognition, measurement, recording, and reporting of all types of economic transactions, and faithful reflection of financial position and operating results. It also mandates lawful and compliant, accurate compilation of non‑financial data, enhancement of the quality of statistical data reporting, and assurance of the authenticity and reliability of statistical information. Furthermore, it calls for strengthened review of accounting offices’ information security management capabilities, reinforced management of classified and sensitive information, and rigorous control over the flow of such information.

The State-owned Assets Supervision and Administration Commission has issued the 2023 annual financial closing statements for central enterprises.
On February 20, the website of the State-owned Assets Supervision and Administration Commission of the State Council issued the “Notice on the Issuance of the 2023 Annual Financial Settlement Reporting Forms for Central Enterprises.”
The Notice calls for strengthening the organization of financial closing work, placing greater emphasis on vertical coordination and integration between business and finance functions. It urges timely planning and deployment of financial closing activities, proactive identification and clarification of significant financial matters, and the full utilization of information‑based and intelligent tools, with particular attention to overseas subsidiaries and entities with weak foundational capabilities. The Notice also seeks to enhance the quality of financial closing information by accurately defining the consolidation scope, appropriately setting aside various impairment provisions, and ensuring standardized recognition, measurement, recording, and reporting of all economic transactions. Furthermore, it aims to solidify closed‑loop management of financial closing by rigorously enforcing accountability for corrective actions, developing comprehensive remediation plans, establishing a tiered system for inspecting, reviewing, and closing out corrective measures, and putting in place long‑term mechanisms for addressing identified issues. Special attention will be given to reviewing, assessing, summarizing, and providing feedback on the implementation of specific initiatives and risk‑control measures. Finally, the Notice underscores the need to fully implement information security responsibilities, strengthen the assessment of accounting offices’ information security management capabilities, tighten controls over classified and sensitive information, and ensure robust oversight of the flow of such information.

The National Copyright Administration has released the 2023 national copyright registration statistics.
On February 20, the website of the National Copyright Administration released the “Notice on the 2023 National Copyright Registration Situation.”
According to data from the “Notice,” in 2023, the total number of copyright registrations nationwide reached 8,923,901, up 40.46% year on year. Among these, work‑related copyright registrations totaled 6,428,277, an increase of 42.30% year on year; computer software copyright registrations numbered 2,495,213, up 35.95% year on year—both the total number of registrations and the growth rate marking five‑year highs. Copyright pledge registrations stood at 411, a year‑on‑year rise of 17.43%.

The State Council: Arbitrary imposition of maximum or excessive fines is prohibited.
The State Council recently issued the “Guiding Opinions on Further Standardizing and Supervising the Setting and Implementation of Fines,” setting forth 15 requirements covering the scientific determination of fines, the standardized implementation of fines, and the strengthening of fine‑related oversight.
The “Opinions” stipulate that fines must be imposed strictly in accordance with the law and based on established facts of violations; arbitrary imposition of maximum‑level or excessively high fines is prohibited, as is the unwarranted lowering of the threshold for determining unlawful conduct or the indiscriminate expansion of the scope of such conduct. The “Opinions” emphasize the need to comprehensively strengthen oversight of fines and to continuously reinforce financial and auditing supervision. Measures must be resolutely taken to prevent unreasonable increases in fine revenues, and any instances of inaccurate reporting of fine income or improper handling of such funds must be rigorously investigated and addressed. Fiscal authorities are required to intensify oversight of the implementation of systems such as the separation of penalty collection from disbursement and the dual‑track management of revenue and expenditure, and, in coordination with relevant departments, to conduct targeted inspections and supervisory reviews as prescribed.

The National Development and Reform Commission plans to issue the Provisional Measures for the Administration of Special Central Budgetary Investment to Guide Private Investment.
On February 18, the website of the National Development and Reform Commission published an announcement soliciting public comments on the “Interim Measures for the Administration of Special Central Budgetary Investment to Guide Private Investment (Draft for Comments).” The deadline for submitting feedback is March 18.
The Measures consist of seven chapters and 27 articles, stipulating that a special fund will be awarded to regions that have achieved notable results in promoting private investment. The funds will be used to support the construction of relevant projects, enhance their profitability, attract private capital, and broaden investment channels for private investors. Priority will be given to commercially viable projects with a public‑benefit orientation in sectors such as infrastructure and social services, where private capital is involved. Specifically, for projects receiving central budgetary investment, the total investment must be no less than RMB 100 million, and the allocation to each project must be no less than RMB 20 million; the proportion of support provided to any single project shall, in principle, not exceed 60% of its total investment. The special‑purpose funding will be directly allocated by the National Development and Reform Commission to the projects through equity injections, with the state‑owned property rights or equity interests arising from the central budgetary investment held by local authorities.

Taxation
VAT invoice data shows:
Service consumption surged during the Spring Festival holiday, with rapid growth in spending on tourism, accommodation, and dining.
According to VAT invoice data from the State Taxation Administration, during this year’s Spring Festival holiday (from the first to the eighth day of the lunar new year), the average daily sales revenue of service‑related industries nationwide increased by 52.3% year on year. Spending on tourism, accommodation, and catering services surged, while demand for cultural and sports services also picked up significantly.
— Tourism-related consumption surged. During the Spring Festival holiday, driven by a robust tourism market, daily average revenue from travel agencies and related services increased 120% year over year, while daily average revenue from sightseeing and leisure‑tourism services rose 70% and 40%, respectively. Long‑distance travel and self‑drive tours became the preferred choices for more travelers, with daily average revenue from air travel services up 71% and car‑rental services surging by 140% compared with the same period last year.
— Consumption of accommodation and catering services continued to grow at a robust pace. During the Spring Festival holiday, driven by返乡 travel and tourism demand, average daily revenue from accommodation services rose 25.4% year on year; in particular, budget chain hotels and tourist‑oriented hotels saw year‑on‑year increases of 35.2% and 11.5%, respectively. Homestay services, offering personalized consumption experiences, were well received by tourists, with average daily revenue up 68.8% year on year. Meanwhile, average daily revenue from catering services increased by 31.5% compared with the same period last year.
— Demand for cultural and sports services has surged. During the Spring Festival holiday, average daily sales revenue for cultural and artistic services rose 86.7% year on year, with arts creation and performance services seeing a 110% year-on-year increase in average daily sales. Average daily sales revenue for sports services grew by 43.2% year on year, with sports‑fitness services and sports‑venue services posting year-on-year gains of 45.8% and 31.2%, respectively.
— Service consumption in the Yangtze River Delta grew rapidly, with Heilongjiang seeing a strong increase in accommodation and catering services driven by winter‑related spending, while Hainan maintained robust growth in tourism and sightseeing services. During the Spring Festival holiday, the Yangtze River Delta attracted a large number of visitors thanks to its distinctive tourist attractions, with average daily service consumption in Shanghai, Jiangsu, and Zhejiang rising 67.7%, 46.8%, and 45% year over year, respectively. Boosted by winter‑related demand, Heilongjiang recorded year‑over‑year increases of 180% and 120% in average daily revenue from accommodation and catering, respectively. Meanwhile, Hainan, a traditional winter tourism hotspot, posted a substantial year‑on‑year rise of 100% in average daily revenue from tourism and sightseeing services.
According to a responsible official from the State Taxation Administration, during the Spring Festival holiday, Chinese consumers’ spending potential was rapidly unleashed, and consumption continued to play an increasingly prominent role in supporting the economy. Tax authorities across the country rolled out “24/7” tax filing and payment services, leveraging self-service kiosks, online platforms, and other channels to steadily advance contactless tax administration and payment, thereby fully meeting taxpayers’ diverse needs. The tax authorities will continue to implement the “Spring Breeze Action for Convenient Tax Services,” harnessing the power of tax big data to enhance both the convenience of handling tax matters and the efficiency of getting things done, further fostering a market‑oriented, law‑based, and internationally competitive tax business environment.

Guangdong: Striving to prioritize the implementation of tax incentives, such as differentiated tax rates, to encourage venture capital offices to adopt a long-term investment approach.
On February 21, the website of the Guangdong Provincial People’s Government released the “Implementation Opinions on Accelerating the Deep Integration of Science and Technology with Finance to Support the Innovative Development of Technology-Based Enterprises,” outlining fifteen key areas of action.
The “Implementation Opinions” propose attracting venture capital institutions to develop in Guangdong, while strengthening publicity and practical guidance on tax preferential policies for venture capital. Efforts will be made to secure national support to prioritize the implementation in Guangdong of tax incentives—such as differentiated tax rates—that encourage long-term investment by venture capital offices, and to enhance the facilitation of cross-border investment and financing in the science and technology sector. For overseas investors who invest in Guangdong‑based venture capital enterprises and high‑tech projects listed in the National Catalogue of Industries Encouraged for Foreign Investment through Qualified Foreign Limited Partners (QFLP), a fast‑track approval channel will be established.

Pilot Offshore Trade Stamp Duty Preferential Policy in the Shanghai Free Trade Zone and the Lingang New Area
The Ministry of Finance has publicly released the “Notice on Piloting Preferential Stamp Duty Policies for Offshore Trade in the China (Shanghai) Pilot Free Trade Zone and the Lingang New Area” (Cai Shui [2024] No. 8).
The Notice clarifies that, effective April 1, 2024, and lasting until March 31, 2025, stamp duty shall be exempted on sales contracts executed by enterprises registered in the China (Shanghai) Pilot Free Trade Zone and the Lingang New Area when engaging in offshore re‑export trade. Offshore re‑export trade refers to transactions in which a resident enterprise purchases goods from a non‑resident enterprise and subsequently resells those goods to another non‑resident enterprise, with the goods never physically entering or leaving China’s customs territory.

LITIGATION & ARBITRATION
All 40 cases in the sixth batch of the Supreme People’s Court’s case studies on the development of people’s courts in the new era have been made public.
On February 18, the Supreme People’s Court released the sixth batch of case studies on the development of people’s courts in the new era, under the theme “Building Maple Bridge–Style People’s Courts and Effectively Fulfilling the Statutory Functions of Mediation Guidance.” This batch comprises a total of 40 cases, which were published in four installments over four days, from February 18 to 21, covering four thematic sections: “Promoting a New Paradigm for Mediation Work,” “Strengthening the Functional Role of Mediation Guidance,” “Fostering Distinctive Mediation Brands,” and “Enhancing Specialized and Sector‑Specific Mediation.”
In Case No. 239, Xiaogang Village in Fengyang County, Anhui Province, has established the Fengning Modern Industrial Park, which is the largest silicon‑based industrial park in Anhui Province. The Xiaogang Village People’s Court has continuously updated its judicial philosophy, strengthened guidance on dispute resolution, built platforms for settling disputes, and facilitated the resolution of conflicts within the industrial park itself. The court has developed a service matrix tailored to enterprises in its jurisdiction, set up a specialized adjudication team for enterprise‑related cases, and employed mobile court sessions to ensure swift and efficient handling of commercial matters involving businesses, thereby supporting the orderly liquidation of insolvent enterprises. In addition, the court conducts regular follow-up visits to enterprises that have been involved in litigation.

The Supreme People’s Procuratorate has released typical cases demonstrating the high-quality and efficient performance of procuratorial duties.
On February 21, the Supreme People’s Procuratorate released nine typical cases demonstrating the high-quality and efficient performance of duties by procuratorial organs.
In Case No. 4, involving獐子岛 Group Co., Ltd.’s unlawful disclosure of material information, in order to prevent the company from being suspended from trading due to three consecutive years of losses, the former chairman and president, Mr. Wu, instructed company personnel to fabricate a false “End-of-Month Scallop Harvesting and Catch Record,” reduce the reported area of scallop harvesting to artificially lower operating costs, fail to write off scallops that had already disappeared from certain sea areas, and falsely reduce non-operating expenses. As a result, in 2016, the company inflated its profits by more than RMB 130 million, accounting for 158.11% of its total disclosed profits for that period; in 2017, it further understated its profits by over RMB 278 million. Subsequently, Mr. Wu also directed others to prepare falsified documents to fraudulently obtain national subsidies totaling over RMB 24 million for artificial reef construction projects. During the investigation, the procuratorial authorities established a comprehensive evidentiary framework, thoroughly pursued related criminal leads, and imposed precise and comprehensive penalties on the listed company’s illegal and criminal conduct.

The Supreme People’s Court has released six typical civil dispute cases involving elderly care services.
On February 20, the Supreme People’s Court published on its website several typical civil dispute cases involving elderly care services, aiming to safeguard the legitimate rights and interests of older adults and to regulate and guide the healthy development of the elderly care industry.
This batch of typical cases comprises six matters, addressing issues such as the safety‑guarantee obligations of elderly care institutions, age‑friendly renovations, elderly care service contracts, and torts committed by third parties. In Case No. 5, Mr. Xiang entered into an “Elderly Care Institution Service Contract” with a certain company, under which the company agreed to provide elderly care services to Mr. Xiang, who had prepaid over RMB 30,000 in care fees. Following the contract’s execution, Mr. Xiang moved into the contracted elderly care facility located in Chongqing. The following year, the facility suspended operations, and Mr. Xiang was relocated to various locations in Yunnan, Sichuan, and other regions. Subsequently, Mr. Xiang returned to Chongqing but no longer received any elderly care services. He then filed a lawsuit seeking a refund of the unpaid portion of his care fees. The court held that the company’s frequent changes to the location of its elderly care services caused inconvenience to Mr. Xiang and constituted a breach of the contractual agreement. Accordingly, Mr. Xiang was entitled to terminate the contract and demand a refund of the remaining care fees, and the court ordered the company to return over RMB 10,000 in care fees.

Case | The Beijing No. 1 Intermediate People’s Court has, for the first time, applied the Supreme People’s Court’s new regulations on betrothal gifts to conclude a dispute over the return of such gifts.
Recently, the Beijing No. 1 Intermediate People’s Court, for the first time, applied provisions of the Supreme People’s Court’s Regulations on Several Issues Concerning the Application of Law in Adjudicating Disputes Involving Betrothal Gifts to conclude a case involving the return of betrothal gifts.
In early 2021, Jia and Li met through a commercial dating website and entered into a romantic relationship. During their courtship, Jia purchased a mobile phone and jewelry for Li—specifically, the jewelry was bought on May 20—and made multiple transfers totaling RMB 40,000. Subsequently, the two began cohabiting intermittently, discussed marriage, and agreed upon the amount of the betrothal gift. Jia consented to pay a betrothal sum of RMB 500,000; however, he later transferred RMB 150,000 to Li, leaving the remaining balance unpaid. During the trial, Jia contended that the mobile phone and jewelry he bought for Li, as well as the aforementioned transfers, all constituted part of the betrothal gift, and sought the return of all bank transfers together with the monetary value of the phone and jewelry. The court held that the mobile phone purchased by Jia for Li and the RMB 40,000 transferred were ordinary consumptive expenditures undertaken by Jia during their relationship to strengthen their emotional bond, and thus did not qualify as a betrothal gift. Similarly, the jewelry acquired by Jia at a specific juncture was deemed to be a consumptive expenditure intended to express or enhance their affection, and likewise did not constitute a betrothal gift. Accordingly, the court ruled that Li must return RMB 150,000 to Jia as the betrothal gift, while dismissing Jia’s remaining claims.

The Supreme People’s Court has released the sixth batch of 40 case studies on the development of People’s Courts in the new era.
On February 18, the Supreme People’s Court released the sixth batch of case studies on the construction of people’s courts in the new era, under the theme “Building Fengqiao‑style People’s Courts and Effectively Fulfilling the Statutory Functions of Guiding Mediation.” This batch comprises 40 cases and will be published in four installments.
On February 18, the Supreme People’s Court released the first batch of ten cases, primarily focusing on fostering a new paradigm in mediation work. In Case No. 210, the People’s Court of the Economic Development Zone in Shengzhou City, Zhejiang Province, pioneered a “two-way case assignment” mechanism between the court and local towns and subdistricts to streamline mediation, and established an integrated “filing–trial–enforcement–bankruptcy” linkage system for dispute resolution. By adopting tailored, category-specific approaches to key areas of conflict, the court has promoted the resolution of disputes at their source, in a single instance, and in a substantive manner. Since 2021, the pre-litigation mediation success rate of people’s courts has risen year by year, while the number of first-instance civil and commercial cases filed has declined annually.

JC Master Law Office
Address: 9th Floor, National Water Resources Building, No. 70 Qingjiang South Road, Nanjing City
Postal Code: 210036
Phone: 025-84503333
Fax: 025-84505533
Website: www.jcmaster.com
This legal notice is provided solely for informational purposes and does not constitute legal advice or a legal analysis of any specific case. The transmission of this legal notice does not establish an attorney–client relationship between JC Master Law Office and the user or reader. JC Master Law Office assumes no responsibility for any third-party content accessible via the internet. If you do not wish to receive this legal notice, please notify us by email at jcm@jcmaster.com.
The copyright in this legal information is owned by JC Master Law Office ©. Without written permission, no organization or individual may reproduce, publish, or cite it in any form.