Update on legal regulations 2012

February 14, 2013

By Omar Puertas, partner of Cuatrecasas, Gonçalves Pereira.

 

In 2012, the Chinese authorities enacted and amended a series of laws, regulations and rules, many of which aim to facilitate trade and foreign investment. In this special edition of our newsletter, we briefly highlight issues concerning laws, regulations and rules on foreign investment, intellectual property, labor, foreign-exchange control, contracts and procedures. For a detailed analysis and more information, please refer to our monthly newsletters.

 

On December 24, 2011, the National Development and Reform Commission (“NDRC”) and the Ministry of Commerce (“MOFCOM”) amended the Industry catalog for guiding foreign investment (“2011 Industry Catalog”), effective from January 30, 2012. The 2011 Industry Catalog continues to guide foreign investment by categorizing industries as “encouraged,” “restricted” and “prohibited,” while considering those not listed within these categories as “permitted.” Reflecting the focus of the policies highlighted in China’s 12th Five-Year Plan, the 2011 Industry Catalog (i) transfers a number of projects from other categories to “encouraged,” mainly relating to high-end manufacturing industries, new- and high-technology industries, new-energy industries, energy-efficient and environmental-protection industries, and modern-service industries; (ii) lifts restrictions on the ratio of foreign capital equity in several industry fields; and (iii) transfers many projects from the “restricted” and “prohibited” categories to the “permitted” category. Meanwhile, it establishes new prohibitions in certain industries, including domestic courier services, and building and running villa developments.

 

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Photo credit: H4g2 / Foter.com / CC BY-ND

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