China Law Update : China Business Law Lawyers & Attorneys : Sheppard Mullin Law Firm : Direct Investment, Dispute Resolution, Intellectual Property, Antitrust, Venture Capital

In June 2009, the Chinese government promulgated a series of regulations strengthening supervision of asset restructuring regarding state-owned shareholders in listed companies. The regulations are: Notice on Regulating the Issues Concerning the Asset Restructuring between State-owned Shareholders and Listed Companies (the "Notice"); Interim Measures for the Administration of State-owned Shareholders’ Transfer of Their Shares of Listed Companies (the "Transfer Rules"); the Interim Provisions on the Administration of the Acceptance of Listed Companies’ Shares by State-owned Entities (the "Acceptance Rules"); and Interim Provisions on the Administration of the Marks of Listed Companies’ State-owned Shareholders (the "Marks Rules").

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Approval of the Draft Foreign-Invested Partnership ("FIP") Regulations

On August 19, 2009, China’s State Council approved, subject to further clarifying amendments, the Administrative Measures for the Establishment of Partnership Enterprises in China by Foreign Enterprises or Individuals (Draft) (the “Draft FIP Regulations”). The Drafted FIP Regulations have been returned to the Ministry of Commerce for further refinement.

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On August 25, 2009, China's State Administration of Taxation (SAT) issued Administrative Rules on Nonresident Enjoying Tax Treaty Treatment (Guoshuifa 2009 No.14) ("The Rules"). The Rules provide detailed guidance for nonresidents seeking concessions (except for international traffic) provided in applicable tax treaties. The Rules will take effect on Oct 1, 2009.

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