JC Master Legal News Issue 1211

Key Takeaways for This Issue

The Fourth Meeting of the China–Brazil Financial Strategic Cooperation Working Group Was Held.

On June 9, 2026, the People’s Bank of China announced that it had convened the fourth meeting of the China–Brazil Financial Strategic Cooperation Working Group with the Central Bank of Brazil.

Notice on the Deployment and Implementation of the Entrepreneurial Model Leadership Initiative by Four Departments

On June 11, the Ministry of Human Resources and Social Security and three other departments issued the “Notice of the Ministry of Human Resources and Social Security, the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the Ministry of Agriculture and Rural Affairs on Implementing the Entrepreneurship-Model-Led Initiative.”

The Ministry of Housing and Urban–Rural Development has recently launched a public consultation on the draft revision of the Regulations on the Administration of Housing Provident Funds. The deadline for submitting comments is July 5, 2026.

Finance & Capital Markets 
Starting this month, electronic savings bonds have been included in the scope of individual pension products.

On June 10, multiple media outlets reported that electronic savings bonds have been included in the scope of individual pension products starting this June, and were offered alongside the latest June issue of savings bonds on the same day. 
According to the issuance schedule, the latest issue of savings bonds will go on sale on June 10. Starting in June, electronic savings bonds have been officially included in the scope of individual pension products, allowing participants in the individual pension scheme to purchase them directly through their personal pension accounts. At present, several banks—including ICBC, China Minsheng Bank, and Industrial Bank—have added a dedicated savings bond purchase channel within the individual pension section of their mobile apps, and related transactions can also be handled at bank counters. Previously, the pool of individual pension products encompassed deposits, wealth management products, funds, and insurance; with the addition of savings bonds, the range of product types has now been further expanded.

The Fourth Meeting of the China–Brazil Financial Strategic Cooperation Working Group Was Held.

On June 9, 2026, the People’s Bank of China announced that it had convened the fourth meeting of the China–Brazil Financial Strategic Cooperation Working Group with the Central Bank of Brazil. 
The meeting was co-chaired by the People’s Bank of China and the Central Bank of Brazil, which unequivocally acknowledged progress in deepening local-currency cooperation, promoting bilateral investment and financing, and accelerating cross-border payment collaboration. Participants discussed supporting Chinese and Brazilian enterprises in opening local-currency accounts, explored expanding the scope of bilateral local-currency swap arrangements, and examined the possibility of establishing direct trading pairs for RMB–BRL. The meeting also welcomed the Brazilian government’s issuance of sovereign panda bonds in China, endorsed the pilot program for the China–Brazil Bond Connect initiative, encouraged China–Brazil funds to identify investment opportunities in Brazil, and deliberated on strengthening cooperation between the two countries’ local-currency payment systems.

The General Office of the State Council: Strengthen Regulation, Guard Against Risks, and Promote the High-Quality Development of Private Equity Investment Funds.

Recently, the General Office of the State Council issued the “Guiding Opinions on Strengthening Supervision, Preventing Risks, and Promoting the High-Quality Development of Private Equity Investment Funds” (hereinafter referred to as the “Opinions”). 
The overall framework and core measures outlined in the “Opinions” include: at the entry point, leveraging the dual gatekeeping roles of pre‑registration comprehensive deliberation and consultation meetings and private‑fund registration and filing; on the ongoing supervision front, intensifying administrative oversight, strengthening穿透监管 and lead‑generation capabilities, rigorously cracking down on illegal and criminal activities, fostering stronger endogenous compliance constraints within the industry, and reinforcing checks and balances over custodians and intermediary service providers; and at the exit stage, promoting the “dual clearance” of private funds and corporate entities that fail to meet regulatory requirements. In terms of risk resolution, a coordinated “combination punch” is being forged through enhanced information sharing among all stakeholders and joint central‑local efforts to defuse and address risks. With respect to rule‑making, priority is given to addressing gaps in regulations covering information disclosure, fund‑raising, mandatory custody, and other key areas. Additionally, arrangements have been made to strengthen the management of government investment funds and state‑owned enterprise investment funds, and to prevent private funds from being exploited as vehicles for illegal or non‑compliant activities. At the same time, several further measures are proposed to promote the sound and orderly development of the private‑fund sector.

Commercial & Corporate 
Six departments in Qianhai have issued ten measures to promote internationalized payment services.

On June 8, 2026, the Qianhai Authority and five other departments jointly issued the “Ten Measures for Optimizing International Payment Services in the Qianhai Cooperation Zone.” 
The “Ten Measures” set out ten initiatives focused on the payment environment in commercial districts, cash‑back provisions, mobile payments, and public awareness‑raising. These include achieving full coverage of overseas bank cards, cash, and mobile payments among merchants; providing one‑off or proportionate subsidies for convenience‑focused payment zones, licensed foreign‑currency exchange outlets, and smart‑payment use cases; installing additional ATMs for withdrawing foreign currency, foreign‑currency exchange machines, and self‑service digital RMB hardware wallet issuance kiosks; promoting hotel‑based foreign‑currency exchange services; expanding the range of domestic use cases for overseas e‑wallets; and enabling subway stations to accept overseas bank cards and digital RMB hardware wallets for contactless fare payment. The measures will take effect on June 19, 2026, with a validity period of one year.

The Publicity Department of the CPC Central Committee and the Ministry of Public Security have jointly launched the 2026 National Anti-Fraud Awareness Month campaign.

On June 10, the Publicity Department of the CPC Central Committee and the Ministry of Public Security announced the plan for the nationwide “All-People Anti-Fraud in Action” concentrated publicity month campaign to be held in 2026. 
The theme of this campaign is “Don’t Listen, Don’t Believe, Don’t Be Greedy—Build a ‘Heart‑Level’ Defense Against Fraud.” Across the country, local authorities and relevant departments will organize outreach activities in communities, rural areas, households, schools, and enterprises, integrating anti‑fraud awareness‑raising into grassroots governance. Public security organs, in coordination with pertinent industry regulators, will urge financial institutions, telecommunications operators, and internet service providers to conduct anti‑fraud education for their employees and customers. Meanwhile, the Ministry of Public Security, together with the Ministry of Industry and Information Technology and the People’s Bank of China, will brief the public on the current fraud landscape, common fraud schemes, and preventive measures, launch a special program titled “Public Anti‑Fraud Open Course,” and release promotional materials such as the “2026 Edition of the Handbook on Preventing Telecom and Online Fraud.”

The Ministry of Industry and Information Technology has published the 408th batch of motor vehicle announcements and the 87th batch of vehicle and vessel tax catalog.

On June 10, the First Division of the Equipment Industry Department of the Ministry of Industry and Information Technology published the “Public Notice on the Proposed Content to Be Released in the ‘Announcement on Road Motor Vehicle Manufacturers and Products’ (Batch No. 408) and the ‘Catalogue of Energy-Saving and New-Energy Vehicle Models Eligible for Vehicle and Vessel Tax Reductions or Exemptions’ (Batch No. 87).” The public notice period runs until June 17, 2026. 
The public notice includes the proposed list of newly approved vehicle manufacturers and amendment information, as well as new vehicle models and expanded‑scope models, to be published in the “Announcement on Road Motor Vehicle Manufacturers and Products” (Batch 408). It also lists the vehicle models proposed for inclusion in the “Catalogue of Energy‑Saving and New‑Energy Vehicle Models Eligible for Vehicle and Vessel Tax Reductions” (Batch 87). This batch of new‑model approval applications covers 743 vehicle manufacturers and 2,454 products, including 963 new‑energy vehicle models; the amendment and expansion applications involve 1,160 enterprises and 12,491 products. In addition, 19 automotive products from 14 vehicle manufacturers have been submitted for rectification. The vehicle and vessel tax catalogue is slated to incorporate energy‑efficient and new‑energy vehicle models.

Notice on the Deployment and Implementation of the Entrepreneurial Model Leadership Initiative by Four Departments

On June 11, the Ministry of Human Resources and Social Security and three other departments issued the “Notice of the Ministry of Human Resources and Social Security, the National Development and Reform Commission, the Ministry of Industry and Information Technology, and the Ministry of Agriculture and Rural Affairs on Implementing the Entrepreneurship-Model-Led Initiative.” 
The Notice sets forth that by 2028, a policy framework for specialized entrepreneurship models will be refined, with measures rolled out across four categories: “scientific and technological achievements + entrepreneurship,” “industrial development + entrepreneurship,” “vocational skills + entrepreneurship,” and “people’s livelihood needs + entrepreneurship.” These measures include supporting researchers to leave their posts to start technology-based enterprises, establishing mechanisms to match supply and demand for R&D outcomes, improving tiered incubation platforms for high-quality SMEs, encouraging returnees and rural residents to start businesses, lowering entry barriers for entrepreneurial incubation facilities, developing training programs that integrate vocational skills with entrepreneurial competencies, and building entrepreneurship markets, entrepreneurial districts, and “at‑your‑doorstep” mentorship spaces.

The Cyberspace Administration of China has recently issued a self-regulatory covenant on the governance of enterprise‑related infringing information. 
The Convention sets forth ten self-regulatory requirements, including promptly removing disclosures that violate entrepreneurs’ privacy, as well as insults, abusive language, rumors, defamation, and verified false or misleading information related to enterprises; eliminating enterprise‑related comments posted by bot accounts and content generated by online “water armies”; strengthening the management of trending searches, hot lists, and enterprise‑related topics, ensuring that no AI‑generated or unverified negative information about enterprises is displayed; optimizing algorithmic recommendations and restricting the dissemination of relevant harmful content; tightening review of ad‑placement practices to prevent the promotion of negative enterprise‑related information; closing accounts impersonating or imitating news organizations and taking action against accounts that illegally profit by sending “requests for verification of negative information”; and revoking the monetization privileges of “self‑media” accounts that routinely publish negative information about enterprises, while coordinating enforcement measures against the implicated accounts and their associated MCN agencies.

LITIGATION & ARBITRATION

The Ministry of Housing and Urban–Rural Development has recently launched a public consultation on the draft revision of the Regulations on the Administration of Housing Provident Funds. The deadline for submitting comments is July 5, 2026. 
The draft for public comment proposes expanding the scope of withdrawals and uses of housing provident funds, including home renovation for self-occupancy, payment of property management fees for self-occupied housing, and other housing‑related expenses approved by the State Council. It also clarifies that individual business households, part-time workers, and other flexibly employed persons may voluntarily participate in the system, with specific implementation measures to be formulated by the people’s governments of prefecture‑level cities. Furthermore, the loan approval period will be shortened from 15 days to 10 days, and measures are proposed to strengthen digitalization, inter‑regional and inter‑departmental coordination, as well as mutual recognition and cross‑region lending. At the same time, the responsibilities of the management committee, fiscal and audit oversight, credit management, and the list of untrustworthy entities will be refined, and legal liabilities for fraudulent withdrawals or loans, underpayment, and late contributions will be further specified.

The State Council has issued the “15th Five-Year Plan” for Building a Modern Emergency Response System.

On June 8, the State Council issued the “Notice of the State Council on Printing and Distributing the ‘15th Five-Year Plan for Building a Modernized Emergency Response System.’” 
The Plan sets out a governance framework by 2030 that prioritizes proactive prevention, and outlines five key areas of action along with 17 priority projects. These include: improving coordinated response mechanisms, emergency command systems, and the regulatory and legal‑standard frameworks; strengthening source‑level risk control, online monitoring and early warning, and comprehensive, end-to-end rectification of “one‑stop” issues in key industries; standardizing administrative inspections of enterprises, promoting “Internet Plus Law Enforcement,” and implementing measures such as “dual penalties for each case,” joint punitive actions, and credit rehabilitation; optimizing emergency rescue capabilities, the aviation rescue network, material reserves, and data governance; and refining systems for suspending work, production, and operations in the event of major disasters, as well as post‑disaster relief and recovery efforts and catastrophe insurance.

The Cybersecurity Bureau of the Ministry of Public Security has released 10 typical cases involving online rumors related to the national college entrance examination.

On June 8, the Cybersecurity Bureau of the Ministry of Public Security released ten typical cases involving online rumors related to the college entrance examination. 
The cases disclosed this time primarily involve using AI to generate fake exam‑hall images, forging images of Gaokao exam papers, fabricating and trading “Gaokao answer keys” and “Gaokao exam questions,” as well as disseminating rumors that incite the carrying of mobile phones for cheating or spread false information about sudden incidents related to examinations. Such activities have been circulated on online platforms in Guangdong, Henan, Hunan, Shandong, Guangxi, Hebei, and other regions, misleading netizens into paying attention and engaging in discussions, thereby disrupting online order. Local public security authorities have imposed administrative penalties on the individuals involved in accordance with the law.

The Supreme People’s Procuratorate has issued model cases of procuratorial reform for 2025.

Recently, the Supreme People’s Procuratorate released the “Typical Cases of Procuratorial Reform (2025).” 
This batch of cases focuses on innovations in working mechanisms, core responsibilities and priorities, problem‑oriented approaches, and technology‑driven empowerment. It covers such areas as the rule‑of‑law‑based handling of procuratorial complaints and petitions, precision‑targeted social supervision of juvenile offenders, mandatory quality reviews for every case, a “stationed‑plus‑circuit‑plus‑technology” supervisory model for criminal execution oversight, and integrated cross‑regional performance of duties in ecological and environmental public interest litigation. The measures involved include standardizing acceptance and processing procedures, refining tiered intervention and family‑participation mechanisms, developing intelligent support systems and oversight platforms, and strengthening interdepartmental and interregional collaboration as well as the application of outcomes.

The Supreme People’s Court has released typical cases of environmental and resource adjudication that safeguard people’s livelihoods.

Recently, the Supreme People’s Court released the “Typical Cases of Environmental and Resource Adjudication in Serving and Safeguarding People’s Livelihood.” 
This release features six cases, covering the enforcement of liquefied petroleum gas (LPG) enterprise obligations, electricity and water supply contracts involving agriculture, the resale of preferential water tariffs, disputes over water and electricity supply affecting 930 farming households, heating‑operation disputes over service interruptions, and the resolution of mass heating‑fee disputes through model litigation. These cases collectively illustrate the courts’ adjudicatory and dispute‑resolution principles, including safeguarding supply and resettlement in the disposal of hazardous‑chemical assets; coordinated mediation addressing legacy issues from rural grid upgrades; requiring parties to pay the price differential for illegally reselling preferential water resources while assuming liability; employing a tiered, progressive mechanism to resolve collective water‑fee disputes; terminating contracts and apportioning costs when heating is unilaterally suspended during the Spring Festival; and reducing heating fees where service fails to meet standards, thereby facilitating the withdrawal or settlement of related cases.

The Supreme People’s Procuratorate has released typical cases of judicial protection for cultural relics and cultural heritage.

Recently, the Supreme People’s Procuratorate issued the “Notice on the Publication of Typical Cases of Judicial Protection of Cultural Relics and Cultural Heritage.” 
A total of eight typical cases were released this time, including four criminal cases and four public-interest litigation cases. These cases involve crimes such as the illegal trafficking of cultural relics, the unauthorized excavation of ancient cultural sites and tombs, and the smuggling of cultural artifacts, as well as issues related to the protection of historic buildings, Great Wall sites, field‑based cultural relics, and linear cultural heritage. The cases clarify that using auction qualifications to conceal illicit transactions in cultural relics may constitute the crime of illegally trading cultural relics by an organization; they also distinguish between acting as a fence for stolen goods and engaging in the outright trafficking of cultural relics, and hold that even unpublished archaeological sites can be recognized as ancient cultural sites. In the realm of public-interest litigation, the cases highlight practices such as identifying serious risks of harm, adjusting protection zones and construction control areas, fostering cross‑regional cooperation, registering and recognizing cultural relics, implementing restoration and conservation measures, and applying digital monitoring models.