Sino-Singapore Jingwei Client February 29th (Dong Wenbo) is about to enter March, and a number of new regulations will be officially implemented, affecting your life. Existing mortgage interest rate "anchor change", the implementation of the new securities law, the general taxpayer's cancellation of the 360-day certification period, the maximum number of driving license points can be reduced by 6 points ... Preview it together!

New national regulations

Existing mortgage interest rate "anchor change"

The central bank issued an announcement on December 28, 2019, saying that starting from March 1, 2020, financial institutions have officially converted the stock floating rate loan pricing benchmark in two ways. One is to form a point based on LPR and the other is to convert to Fixed interest rate. The above work should be completed in principle by August 31, 2020.

Dong Ximiao, chief researcher of Xinwang Bank, pointed out that with the epidemic situation stable, it is not a big problem to complete the "replacement of anchors" by the end of August. At present, the market liquidity will continue to be in a reasonable and abundant state, and market interest rates are expected to fall further. In this case, there may be a certain downside in mortgage interest rates.

Data map. Photograph by Xiong Xiyi, Zhongxin Jingwei

New securities law goes into effect on March 1

On December 28, 2019, the fifteenth meeting of the Standing Committee of the 13th National People's Congress voted to pass the newly revised Securities Law of the People's Republic of China (hereinafter referred to as the "New Securities Law"), effective March 1, 2020 . The amendments to the new securities law include the following ten aspects: expanding the scope of application of the law, advancing the registration system, streamlining and optimizing the conditions for securities issuance and trading, strengthening information disclosure requirements, strengthening investor protection, and substantially increasing the cost of violations of laws and regulations.

From the perspective of penalties for violations of laws and regulations, the new securities law has increased the fines for violations of trusts from a maximum of 600,000 yuan to 10 million yuan, and the maximum fine for fraudulent issuance to 20 million yuan. The maximum fines for insider trading and market manipulation are from The illegal income is increased from 5 times to 10 times. If there is no illegal income, the maximum fine will be increased from 600,000 yuan to 5 million yuan and 10 million yuan. Industry insiders pointed out that after the implementation of the new securities law, it is expected that illegal behaviors in the capital market will be deterred and curbed.

Some property insurance products changed from approval to record

The CBRC website released the “Notice on Further Strengthening and Improving Issues Related to Product Supervision of Property Insurance Companies” (hereinafter referred to as the “Notice”), which carried out a series of regulations on the scope and procedures of product approval. It will be officially implemented on the 1st.

The "Notice" adjusted the scope of product approval and filing, and changed the commercial vehicle insurance, credit insurance and guarantee insurance products that use more than one year from demonstration products to approval, and the products that originally belonged to the filing category were still subject to filing management. At the same time, product classification supervision and territorial supervision of property insurance are implemented: the commercial vehicle insurance of the demonstration products and the central financial premium subsidized agricultural insurance products shall be filed and supervised by the CBRC; other products shall be filed and supervised by the relevant CBRC. Supervision.

Elimination of “matching” payment requirements for tax arrears and late fees

The State Administration of Taxation's announcement on December 12th, 2019 on certain matters related to tax collection and management pointed out that starting from March 1, 2020, the "matching" payment requirements for tax arrears and late payment fees were abolished, and taxpayers, withholding agents, The tax arrears and late payment due by the tax guarantor are no longer required to be paid at the same time, and the tax arrears can be paid first, followed by the late payment according to law.

The announcement also clearly states that individuals engaged in production and business should apply for a business license but do not apply for a business license, but if a tax obligation arises, they can apply for temporary tax registration in accordance with regulations. If a taxpayer who has been identified as an abnormal household accepts punishment, pays a fine for overdue undeclared behavior, and re-submits a tax declaration, the tax collection and management system will automatically dissolve the taxpayer's normal status without requiring the taxpayer to apply for special release.

General taxpayer cancels 360-day certification period

The State Administration of Taxation issued an announcement on December 31, 2019, stating that the value-added tax invoices issued by general value-added tax payers issued on or after January 1, 2017, the special value-added tax payment documents for customs imports, unified invoices for motor vehicle sales, Toll road toll electronic value-added VAT electronic invoices, no longer need to be verified within 360 days, etc., which have expired, can be carried out through the province (autonomous regions, municipalities and planned cities) VAT invoice comprehensive service platform after March 1, 2020 Confirmation of use.

The value-added tax invoices issued by the general value-added taxpayers on or before December 31, 2016, the special value-added tax invoices for customs imports, and the unified invoice for motor vehicle sales, which exceed the time limit for certification and confirmation, but meet the relevant conditions, still Continue to deduct the input tax amount in accordance with the provisions of the Announcement of the State Administration of Taxation on the Deduction of Overdue Value-added Tax Deduction Vouchers and the Announcement of the State Administration of Taxation on the Issues Concerning Failure to Report the Deduction of VAT Deduction Vouchers on Time.

Driving license points can be reduced up to 6 points

On January 19, the Chinese government ’s website disclosed the “Code for Accepting Traffic Safety Education and Reducing Exemption of Road Traffic Safety Scoring (Trial)” (hereinafter referred to as the “Code”), which was implemented on March 1, 2020. . Article 24 of the "Specifications" clearly states that motor vehicle drivers who participate in road traffic safety laws, regulations and related knowledge online, on-site study exams, or traffic safety public welfare activities during the scoring cycle shall accumulate the highest cumulative deductions for traffic violations. 6 Minute.

Data map. Photo by Zhongxin Jingwei

Legalization and specialization of engineering general contracting

On December 31, 2019, the Ministry of Housing and Urban-Rural Development and Reform Commission issued the "Administrative Measures for the General Contracting of House Construction and Municipal Infrastructure Projects" (hereinafter referred to as the "Measures"), which will be implemented as of March 1, 2020. Industry insiders pointed out that the promulgation of the "Measures" will effectively promote the rule of law and specialization of China's general contracting of projects and promote the sustainable and healthy development of the construction industry.

The Measures clearly states that construction units should complete project approval, approval, or record-keeping procedures before issuing a contract; they should choose a general contracting unit by means of tendering or direct contracting in accordance with the law. The general contracting unit must not be the agency or project of the general contracting project Management unit, supervision unit, cost consulting unit, bidding agency. The Measures also stipulate that the construction unit shall not set an unreasonable construction period, and shall not arbitrarily reduce the reasonable construction period; the general contracting unit shall be fully responsible for the construction period according to the contract, and shall control and manage the overall project progress and the progress of each stage to ensure that the project is completed on schedule.

Network Ecological Governance Regulations Effective from March 1

The State Cyberspace Office issued the “Regulations on Ecological Governance of Internet Information Content” (hereinafter referred to as the “Regulations”) on December 20, 2019, which will be implemented as of March 1, 2020. The "Provisions" states that network information content producers must not produce, copy, or publish illegal information that contains content that "endangers national security, leaks state secrets, subverts state power, undermines national unity," and "damages national honor and interests." Measures were taken to prevent and resist the production, copying, and release of bad information that contained "use of exaggerated titles, the content of which is seriously inconsistent with the title" and "hype scandals, scandals, and misdeeds".

The "Regulations" emphasize that the network information content service platform should fulfill the main responsibility of information content management, establish an ecological governance mechanism for network information content, and improve user registration, account management, information release review, follow-up review review, page page ecological management, real-time inspection, Emergency response and network rumors, and information disposal of the black industry chain.

New local regulations

Shanghai: Housing management and civilized construction included in the scope of urban management punishment

According to the Shanghai Municipal Government's website on February 19, the "Decision on Amending the Implementation Measures of the Shanghai Municipal Administration Administrative Law Enforcement Regulations" (hereinafter referred to as the "Decision") has been issued by the municipal government for the 75th time on December 23, 2019. The meeting passed and will be implemented from March 1, 2020.

Penalties in the fields of house management and civilized construction are included in the scope of urban management penalties, which is the core content of this amendment. The "Decision" specifies that in the field of housing management, the administrative penalties related to property management in the current regulations will be broadened to include property management, real estate market management, housing security, protection of outstanding historical buildings, and expropriation and compensation of houses on state-owned land. All house management matters; meanwhile, in the field of construction management, increase penalties in the field of civilized construction management.

Data map: a construction site in Haidian District, Beijing. Photograph by Xue Yufei, Zhongxin Jingwei

Xi'an: Raise the reward standard for those who have taken the initiative to relocate

According to the news on the website of the Xi'an Municipal Government on February 7, the "Decision on Amending the Measures for the Collection and Compensation of Houses on State-owned Land in Xi'an" has been deliberated and approved at the 32nd Executive Meeting of the Municipal Government on December 23, 2019, since March 2020. Effective from January 1. The revised "Acquisition and Compensation Measures for Houses on State-owned Land in Xi'an" (hereinafter referred to as the "Measures") added nine aspects, including "the implementation unit of house expropriation shall not be for profit"; adjusted 10 contents, including The requisitioned persons who actively move during the relocation period have raised the standard of reward and compensation, and those who are overdue or refuse to relocate will not be rewarded.

The "Measures" clearly states that if the requisitioned person or the tenant of a public house signs a compensation agreement and delivers the house within the reward period determined by the compensation plan, each household will be rewarded at a rate not exceeding 2% of the assessed value of the requisitioned house; Reward will be given based on no more than 20% of the appraised value of the expropriated house. In case of expropriation of business, production and processing industrial houses, if the expropriated chooses monetary compensation, the compensation rate for loss of production and business suspension will be increased from 2% to 5%.

Zhuhai: Five ways to improve medical security benefits

On February 14, the Zhuhai Medical Insurance Bureau issued the "Notice on Improving the Basic Medical Insurance and Maternity Insurance Treatment and Management Policies" (hereinafter referred to as the "Notice"), which further strengthened medical security in five aspects. Since March 1 Effective from today.

The "Notice" proposes to further strengthen the medical protection for newborns. Zhuhai City newborns can pay and enjoy benefits from the date of birth within 3 months after birth; provide out-of-office coordination protection for insured persons registered in different places; and improve the spirit The level of protection for outpatient treatment of similar diseases; the scope of special outpatient treatment benefits should be appropriately expanded, including severe β-thalassemia, hemophilia, and malignant tumors; meanwhile, the conditions for determining the retirement benefits of medical insurance should be rationalized.

Yantai: Three local regulations formally implemented

From March 1, three local regulations, the "Yantai Mountain Protection Regulations", the "Yantai Coastal Zone Protection Regulations" and the "Yantai Private Economy Promotion Regulations", will be formally implemented.

Among them, the "Yantai City Mountain Protection Regulations" focuses on issues such as illegal plundering, cannibalization of construction projects, construction of cemeteries, illegal farming and cultivation, deforestation and land reclamation, deforestation, destruction of wild forests, damage to the original terrain of the mountain, and restoration and management. . The "Regulations on the Protection of the Coastal Zone of Yantai City" comprehensively prohibits reclamation and vigorously repairs and repairs damaged shorelines. The "Yantai Private Economy Promotion Regulations" focus on the negative list of market access, the establishment of special funds for private economy development, and the reduction of business burdens, etc., to further optimize the business environment and promote the development of the private economy.

Dongguan: Implementation of Pearl River Fishing Ban for 4 months

Dongguan Agricultural and Rural Bureau issued an announcement on February 24 that, in order to further strengthen the protection of fishery resources in natural waters, Dongguan will implement the Pearl River fishing ban for four months from 00:00 on March 1 to 2400 on June 30. With the exception of recreational fisheries and recreational fishing, all fishing operations are prohibited in the specified restricted fishing areas and fishing periods; if natural fishery resources need to be harvested due to aquaculture production or scientific research, the provisions of the Fishery Law of the People's Republic of China shall be adopted. Approved by the fishery administrative department above the provincial level. (Zhongxin Jingwei APP)

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