Circular on Key Issues of China's 2010 Economic Structure Reform (State Council Circular 15) - 国务院批转发展改革委关于2010年深化经济体制改革重点工作意见的通知
Released on May 27, 2010
On May 27, 2010, the State Council forwarded a Circular Regarding Certain Key Issues 0f China's 2010 Economic Structure Reform drafted by the National Development and Reform Commission (“NDRC”), which provides some new guidelines for the economic structure reform. Some guidelines, we believe, may widely impact the current Chinese regulatory environment.
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The People's Bank of China (PBoC) and China Banking Regulatory Commission (CBRC) will be in charge of amending the General Principle of Loan, in order to speed up the development of credit loan market in China.
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The NDRC, China Security Regulatory Commission (CSRC) and Ministry of Finance (MoF) will take charge of issuing the administrative measures on equity investment funds, which may impact the immature venture capital and private equity industry in China.
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The Ministry of Land Resource (MLR) will take charge of amending the Assignment Catalogue of State-owned Construction Land (The Catalogue), which may change the current land assignment methods.
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The NDRC, MOFCOM and Legislative Office of the State Council will be in charge of amending the legislation related to the foreign investment with a view to further simplifying the approval process and establishing the national security review mechanism for the merger and acquisition by foreign investment.