New laws and regulations effective in July 2018
1.Tobacco Leaf Tax Law of the People’s Republic of China
Subjects eligible to acquire tobacco: payers of tobacco leaf tax
Tobacco leaf tax rate: 20%
Tax payable = total amount paid for tobacco procurement x tax rate
2. Law of the People’s Republic of China on Farmers’ Professional Cooperatives
Line of business of farmers’ professional cooperatives:
Procurement and use of agricultural means of production
Production, sales, processing, transportation and storage of any agricultural produce
Rural folk crafts, development and management of leisure agriculture and rural tourism resource
Technology, information and facility construction and operation services related to agricultural production
3. Measures for the Performance Evaluation of National Manufacturing Innovation Centers (Interim)
Appraisal object: Innovation centers already in operation for one year
Appraisal is divided into annual assessment and regular assessment.
Evaluation contents: Construction and operation
The appraisal is divided into preliminary assessment, site inspection and comprehensive review.
4. Provisions for Urban Rail Transportation Operation and Administration
Principles: People-oriented, safe and reliable, convenient and efficient, economic and comfortable
Protected area is designated for urban rail transportation engineering projects.
Operators should set up a contingency plan system for emergency cases and elaborate comprehensive and special contingency plans and a site disposal program.
In case of massive passenger flow, operators should increase transport capacity for improvement of traffic dispersion according to contingency plan and
Adopt measures such as capacity restriction, closures and skipping of stations
Urban rail transport operators should meet the following requirements：
(1) Be in possession of corporate legal personality, with business including urban rail transport operation and management
(2) Be in possession of a safe production management and service quality assurance system involving vehicles, passenger transportation, equipment and personnel management
(3) Have professional administrative staff in vehicles, communication, signals, power supply, electrical systems, pathways, civil engineering structure and operation management
5. Provisions on Continuing Education for Accounting Technicians
Who receives the education?
Personnel in possession of accounting technical qualifications from state organs, enterprises, public institutions and social organizations
Personnel engaged in accounting without technical qualifications
Contents of continuing education:
Including general and specialized courses
Use credit system management
6. Measures for Administration of Information Disclosure by Insurance Companies
Information disclosure refers to insurance companies providing information to the general public about their management and operation.
Profile disclosed by insurance companies should include the following:
(1) Legal name and abbreviations
(2) Registered capital
(3) Domicile
(4) Date of establishment
(5) Business scope and area
(6) Legal representative
(7) Customer service phone and complaints hotline
(8) Business sites of all branches and contact numbers
(9) Insurance product catalogue and clauses
