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Issue 47-November 2020 Veritas Update
Release date:
2020-11-17

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Issue 47-November 2020 Veritas Update

CATALOG

Latest Hot Spot


The 3rd China International Import Expo was successfully held in Shanghai


New Law Express


SAMR Releases Antitrust Guidelines in Platform Economy


Shanghai: Xingang New Area explores tax policy arrangements for pilot free trade accounts


China Unveils Four Measures for Expanding All-round Opening-up



【Latest Hot Spot】


The 3rd China International Import Expo was successfully held in Shanghai


        The 3rd China International Import Expo will be held at the National Exhibition and Convention Center (Shanghai) from November 5 to 10, 2020.This year's CIIE Commercial Enterprise Exhibition has set up six exhibition areas including food and agricultural products, automobiles, technical equipment, consumer goods, medical equipment and medicine and health care, and service trade. The exhibition area exceeds the scale of the previous one.


      On November 8, the China International Import Expo Bureau held the third session of the China International Import Expo Exhibition Press Conference. Kong Fuan, deputy director of the China International Import Expo Bureau, introduced that since the opening of the third CIIE, a total of 674 exhibitors and 1351 buyers from 64 countries have participated in the exhibition, reaching 861 cooperation intentions; and holding 10 investment promotions meeting. As of November 7, the 3rd CIIE has provided contracting services for 76 periods of time for local trading groups, state-owned enterprises trading groups, and the National Health Commission.


     On the ' Import Expo Publishing Platform', 42 exhibiting companies held new product launches, including 6 consumer products exhibition areas, 10 medical exhibition areas, 6 service trade exhibition areas, 11 equipment exhibition areas, and 9 food exhibition areas.


     Despite the impact of the new crown pneumonia epidemic, the pace of the participants was not blocked, and the third CIIE is still exciting. (The news comes from Guangming Net)




New Law Express】


SAMR Releases Antitrust Guidelines in Platform Economy


The State Administration for Market Regulation released on November 10, 2020 the Antitrust Guidelines in Platform Economy (Exposure Draft), to gather public opinions until November 30, 2020.


According to the exposure draft, horizontal monopoly agreements in the online platform market are generally designed to exclude and limit competition. Antitrust law enforcement agencies encourage related business operators to report horizontal monopoly agreements, provide important evidences and cooperate with investigations. Law enforcement agencies can reduce or exempt penalties to business operators if they are eligible to be granted leniency.

           

Shanghai: Xingang New Area explores tax policy arrangements for pilot free trade accounts


Recently, the Shanghai Municipal People’s Government issued the 'Implementation Opinions of Shanghai on Promoting the High-quality Development of Trade', which clarified that taxation of pilot free trade accounts should be explored in the Lingang New Area of the Pilot Free Trade Zone without causing tax base erosion and profit transfer Policy arrangements.


The 'Opinions' support the development of bonded oil supply business for ships on international voyages in the Lingang New Area of the Pilot Free Trade Zone. Promote the follow-up inspection and acceptance of the Yangshan Special Comprehensive Bonded Zone. Strive to implement special taxation policies for goods entering the physical fence area of the Yangshan Special Comprehensive Bonded Zone, and goods transactions and services between enterprises in the physical fence area.


China Unveils Four Measures for Expanding All-round Opening-up


The third China International Import Expo opened in Shanghai in the evening of November 4, 2020. Chinese President Xi Jinping delivered a keynote at the opening ceremony, and stressed that China will resolutely expand opening-up.


He listed four policy measures. China will continue to leverage the pioneering role of pilot free trade zones and free trade ports in steering opening up. China will introduce a negative list for cross-border services trade and open wider in areas like the digital economy and the internet. China will shorten its catalog of technologies prohibited or restricted from import to create a favorable environment for the free flow of technologies across borders. China will continue to make its foreign-related legal framework more open and transparent, and better protect the lawful rights and interests of foreign investors. China is ready to sign high-standard free trade agreements with more countries, and will take an active part in WTO reform.



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