- The Legislative Affairs Office of the State Council Releases the newly revised Copyright Law of the People’s Republic of China (under Review) and Solicits Public Opinions for It
On 6 June 2014, the Legislative Affairs Office of the State Council released the newly revised Copyright Law of the People’s Republic of China (under Review) and solicited public opinions for it. The deadline for opinion solicitation will be 5 July 2014.
What is most significantly revised according to the draft copyright law under review includes provisions on objects, contents, ownership and the validity period of rights within the scope of copyright. Also, it has stipulated more penalties that will be imposed on those who infringe others’ copyrights and has set forth means of enforcement by administrative authorities concerned, who have powers of seizure and confiscation, which was first stipulated by laws.
(Website of the Legislative Affairs Office of the State Council:
http://www.chinalaw.gov.cn/article/cazjgg/201406/20140600396188.shtml)
- The State Administration for Industry and Commerce of the People’s Republic of China Solicits Public Opinions for Regulations (Used for Opinion Solicitation) on Prohibiting Administrations for Industry and Commerce from Abusing Intellectual Property to Eliminate or Restrict Competition
On 11 June 2014, the State Administration for Industry and Commerce of the People’s Republic of China released the Regulations (Used for Opinion Solicitation) on Prohibiting Administrations for Industry and Commerce from Abusing Intellectual Property to Eliminate or Restrict Competition, for which it solicited public opinions. The deadline for opinion solicitation will be 10 July 2014.
(Website of the State Administration for Industry and Commerce:
http://www.saic.gov.cn/gzhd/zqyj/201406/t20140610_145803.html)
- The State Administration for Industry and Commerce Publishes Trademark Review Rules
On 28 May 2014, the State Administration for Industry and Commerce of the People’s Republic of China published Trademark Review Rules, which took effect on 1 June 2014. To adapt new amendments to the Trademark Law and the Implementation Rules of the Trademark Law, the Trademark Review Rules made clear types of review cases, differences between the review procedure for invalidity announcements and that for cancelling applications and the review scope of rejected registration and review applications, and stipulated the rectification period shall be changed to fifteen (15) days and supplementary evidence shall be submitted within thirty (30) days, and provided solutions to the issue of transition from old rules to new ones.
(Website of the State Administration for Industry and Commerce:
http://www.saic.gov.cn/spw/gzdt/201405/t20140530_145651.html)
- China’s Central Bank Issues Guiding Opinions on Implementation by the People’s Bank of China of Opinions on Fostering Steady Growth of Foreign Trade Businesses Issued by General Office of the State Council
On 11 June 2014, the People’s Bank of China issued the Guiding Opinions on Implementation by the People’s Bank of China of Opinions on Fostering Steady Growth of Foreign Trade Businesses Issued by General Office of the State Council, in which a number of measures to boost foreign trade businesses were put forward.
As expressly set forth in the Guiding Opinions, cross-border trade and investment RMB settlement procedures shall be simplified, and cross-border RMB capital centralized operation and individual cross-border trade RMB settlement businesses will be allowed. According to the Guiding Opinions, multinational groups will be allowed to engage in cross-border RMB capital centralized operation businesses, including cross-border two-way RMB capital pool businesses, current-account cross-border RMB centralized collection and payment businesses, etc., and individuals may do cross-border trade RMB settlement businesses.
In addition, the Guiding Opinions encouraged banks and payment service providers with duly obtained ‘online payment’ business license to cooperate with each other to provide enterprises and individuals doing cross-border cargo and service trade with RMB settlement services.
(Website of the People’s Bank of China:
- The State Administration of Taxation Makes an Announcement of Several Policies Relevant to Enterprise Income Tax Calculation and Payment
On 23 May 2014, the State Administration of Taxation made the Announcement of Several Policies Relevant to Enterprise Income Tax Calculation and Payment to offer clear solutions to issues relating to enterprise income taxes and taxable income. The Announcement is applicable to the calculation and payment of enterprise income taxes of 2013 and the following years. Income enterprise taxes on assets received from governments or shareholders before calculation and payment of taxes of 2013 may be dealt with based on the Announcement.
(Website of the State Administration of Taxation:
http://www.chinatax.gov.cn/n2226/n2271/n2272/c729150/content.html)
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