HKTDC RESEARCH

The Ministry of Commerce recently announced the first batch of 13 national processing trade industrial parks. Located in central, western and northeastern China, the parks are intended to guide these regions towards participation in international supply chains and economic opening-up. More

The General Office of the Ministry of Education and five other government departments announced that, before the end of the year, they will complete approval procedures for online tutoring providers who have already filed records. Existing online institutions must stop recruiting students and collecting tuition fees until they have obtained their school licences and other related permits. More

In a statement on preventing and handling risks related to virtual currency transactions, on 15 September the People’s Bank of China, the Cyberspace Administration of China and eight other government departments clearly identified virtual currency-related activities as illegal.More

On 2 September, the China Banking and Insurance Regulatory Commission issued and put into practice its administrative measures on the market access of branches of insurance companies in a bid to regulate various matters pertaining to insurance branches – including their formation, transformation, change of premises and revocation. The measures are also intended to regulate the application, examination and approval of relevant administrative permits. More