From February, these new regulations will affect your life and mine!

It is related to the housing rental market and will be implemented on February 5.

The People’s Bank of China and the State Financial Supervision and Administration Bureau issued the Opinions on Financial Support for the Development of Housing Leasing Market, which came into force on February 5, 2024. The Opinions put forward 17 measures to support the development of the housing rental market from the aspects of strengthening the innovation of housing rental credit products and service models, broadening diversified investment and financing channels in the housing rental market, and strengthening and improving the financial management of housing rental. The "Opinions" clearly increase the credit support for housing lease development and construction. Support commercial banks to issue housing lease development and construction loans to real estate development enterprises, industrial parks, rural collective economic organizations, enterprises and institutions and other entities that build or rebuild long-term rental housing in accordance with laws and regulations. The term of housing lease development and construction loans is generally 3 years, and the longest is not more than 5 years.

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Opinions of the People’s Bank of China and the State Administration of Financial Supervision on Financial Support for the Development of Housing Leasing Market

Guidance Catalogue for Industrial Structure Adjustment (2024 edition), which will be implemented on February 1st.

The National Development and Reform Commission revised and issued the Guiding Catalogue of Industrial Structure Adjustment (2024 edition), which came into effect on February 1, 2024. The guidance catalogue of industrial structure adjustment is an important basis for guiding the direction of social investment, government management of investment projects, and formulation and implementation of policies such as finance, taxation, credit, land, import and export. There are 1005 entries in the Catalogue (2024 edition), including 352 encouraged, 231 restricted and 422 eliminated. Compared with the previous edition, in the encouraged category, there are new items that are beneficial to industrial optimization and upgrading, such as intelligent manufacturing, agricultural machinery and equipment, CNC machine tools and network security, and in the restricted category and eliminated category, there are new items that are not in line with the requirements of green development and safe production.

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Encourage, restrict and eliminate industries with clear catalogue! Implemented on February 1st.

The central bank decided to reduce the deposit reserve ratio of financial institutions on February 5.

In order to consolidate and strengthen the economic recovery, the People’s Bank of China has decided to reduce the deposit reserve ratio of financial institutions by 0.5 percentage points from February 5, 2024 (excluding financial institutions that have implemented the deposit reserve ratio of 5%). After this reduction, the weighted average deposit reserve ratio of financial institutions is about 7.0%.

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The central bank announced the RRR cut on February 5.

The Measures for the Supervision and Administration of Investment Projects in the Central Budget will come into force on February 1st.

The National Development and Reform Commission issued the Measures for the Supervision and Administration of Investment Projects within the Central Budget, which will take effect on February 1, 2024. The "Measures" emphasize that the first is to insist on clarifying the regulatory responsibilities. Systematically standardize the responsibilities of the National Development and Reform Commission, local development and reform departments, relevant industry authorities and central units, straighten out the relationship between functions and powers, link up the responsibility chain, and improve the supervision system, so that the whole process of supervision of investment projects within the central budget has requirements and evidence for accountability. The second is to refine the content of supervision. Focusing on the life-cycle supervision of investment within the central budget, the corresponding supervision procedures, contents and methods are clarified for different regulatory subjects, and corresponding regulations are made for strengthening online scheduling and exploring video supervision based on the national online approval and supervision platform for investment projects (national major construction project library). The third is to strengthen supervision and law enforcement. On the basis of strengthening daily management, monitoring and dispatching, the requirements for supervision and inspection shall be clarified, and a special chapter shall be set up to effectively strengthen the supervision of bundled and diced investment projects. At the same time, clear the applicable situation, discretion standard and disciplinary measures for violations of laws and regulations, and increase punishment.

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Measures for the Supervision and Administration of Investment Projects within the Central Budget No.10 of 2023

It is related to the safety inspection of railway passenger transportation and will be implemented on February 1.

The Ministry of Transport promulgated the Measures for the Administration of Railway Passenger Transport Safety Inspection, which will take effect on February 1, 2024. The Measures further improve the safety inspection work in all aspects of railway passenger transport. First, improve the safety inspection method, combine the safety inspection equipment with manual inspection, and at the same time increase the number of open safety inspection channels, dispense with the safety inspection in station transfer, and give priority to key passengers, so as to strengthen all-round safety inspection, ensure the safety of passengers entering the station, and provide convenience for passengers. The second is to put forward requirements for the safety inspection work of boarding and unloading stations, railway trackless stations, commodities entering the safety inspection area, other pit stop personnel, etc., and make it clear that the parcels transported with passenger trains shall be implemented with reference to these Measures, so as to plug the loopholes in safety inspection. The third is to encourage the orderly connection of railways with urban rail transit, civil aviation, roads and waterways, so as to realize mutual recognition of security inspections and avoid repeated security inspections.

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Measures for the Administration of Railway Passenger Transport Safety Inspection (Order No.21, 2023 of the Ministry of Transport of the People’s Republic of China)

The Regulations on the Registration and Administration of Collective Trademarks and Certification Trademarks will come into force on February 1st.

China National Intellectual Property Administration issued the Regulations on the Registration and Administration of Collective Trademarks and Certification Trademarks. From the perspective of standardizing the registration and use of collective trademarks and certification trademarks and maintaining fair competition market order, the Regulations guide the registrants of collective trademarks and certification trademarks to register with virtue, exercise their rights appropriately and safeguard their rights effectively. Clear the boundary of rights, taking into account the legal use of trademarks and the proper use of others; Promote the integration of administrative organs, comprehensively implement policies, and help the development of local industries. The Regulations came into effect on February 1st.

From February 9, China and Singapore will be exempted from visas.

On January 25th, representatives of the Government of People’s Republic of China (PRC) and the Government of the Republic of Singapore signed the Agreement between the Government of People’s Republic of China (PRC) and the Government of the Republic of Singapore on Mutual Exemption of Visa for Ordinary Passport Holders. The agreement came into effect on February 9, 2024 (Lunar New Year’s Eve). At that time, ordinary passport holders of both sides can enter the other country without a visa to engage in private affairs such as tourism, visiting relatives and business, and stay for no more than 30 days. If you want to enter the other country to engage in work, news reports and other activities that require prior approval, and intend to stay in the other country for more than 30 days, you must complete the corresponding visa before entering the other country.

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From February 9, China and Singapore will be exempted from visas.

Implementation of Measures for the Protection of Geographical Indications Products

China National Intellectual Property Administration promulgated the Measures for the Protection of Geographical Indications Products, which will take effect on February 1, 2024. The "Measures" improve the review process and optimize the review and identification procedures; Strengthen the management of geographical indication products, and clarify the obligations of producers and the daily supervision responsibilities of local intellectual property management departments; Strengthen the protection of geographical indication products and clarify the infringement.

Implementation of the new version of "Administrative Measures for the Use of Donation Bills for Public Welfare"

The Ministry of Finance issued the Measures for the Administration of the Use of Donation Bills for Public Welfare (Caizong [2024] No.1), which will take effect on February 1, 2024. Notice of the Ministry of Finance on Printing and Distributing the Interim Measures for the Administration of the Use of Donation Bills for Public Welfare (Caizong [2010] No.112) shall be abolished at the same time. The "Measures" clarify that the donation bills for public welfare undertakings can be used as valid certificates for donors to donate abroad and apply for pre-tax deduction of donations in accordance with relevant state regulations. The basic contents of bills donated by public welfare undertakings include bill name, bill producer seal, bill code, bill number, payer’s unified social credit code, payer’s check code, billing date, two-dimensional code (barcode), project code, project name, unit, quantity, standard, amount (RMB), total amount (in words)/(in figures), remarks, other information and payee. When a public welfare unit accepts the donated property used for public welfare undertakings, it shall issue a donation bill for public welfare undertakings to the donor.

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Measures for the Administration of the Use of Public Welfare Donation Notes issued