On July 1, what new regulations in the field of market regulation will affect your life?
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The new Company Law came into force on July 1
The newly amended Company Law of the People's Republic of China (hereinafter referred to as the "New Company Law") on December 29, 2023 will come into force on July 1, 2024.
The new Company Law improves the subscription registration system for limited liability companies, clarifying that the amount of capital contribution subscribed by all shareholders shall be paid in full by shareholders within five years from the date of establishment of the company in accordance with the provisions of the articles of association; At the same time, if a company registered and established before the implementation of the new Company Law has a capital contribution period that exceeds the time limit specified in this Law, it shall be gradually adjusted to within the time limit specified in this Law, unless otherwise provided by laws, administrative regulations or the State Council; If the term and amount of capital contribution are obviously abnormal, the company registration authority may require them to adjust them in a timely manner in accordance with the law. The Provisions of the State Council on the Implementation of the Registration and Management System for Registered Capital of the Company Law of the People's Republic of China (Draft) have been deliberated and adopted. The company does not need to rush to handle the capital reduction before July 1, 2024, and after July 1, 2024, the company can also gradually adjust the registered capital and subscription period in place during the transition period in accordance with the requirements of the new Company Law, and make actual payments according to the adjusted registered capital and subscription period. For details, see this: 🔗 Collection: "Company Law of the People's Republic of China" (text version of the comparison table) on 🔗 the collection: "Company Law of the People's Republic of China" (text version of the comparison table) under the interpretation and discussion: 🔗 The new "Company Law" stipulates that "capital must be reduced before July 1"? Fake! 🔗 Super detailed! The expert interpretation of the new company law is here!
Provisions of the State Council on the Implementation of the Registered Capital Registration Management System of the Company Law of the People's Republic of China
Premier Li Qiang signed a decree of the State Council promulgating the Provisions of the State Council on the Implementation of the Registration and Management System for Registered Capital of the Company Law of the People's Republic of China (hereinafter referred to as the "Provisions") on July 1, 2024, which will come into force on the date of promulgation. There are 13 articles in the Provisions, which mainly include the following. The first is to clarify the transitional period arrangements for the adjustment of the subscription period of the existing companies. If a company registered and established before June 30, 2024, and the remaining subscribed capital contribution period of a limited liability company exceeds 5 years from July 1, 2027, it shall adjust its remaining subscribed capital contribution period to 5 years before June 30, 2027 and record it in the articles of association, and the shareholders shall pay the subscribed capital contribution in full within the adjusted subscribed capital contribution period; The promoter of a company limited by shares shall pay the full amount of shares according to the shares subscribed by it before June 30, 2027. If the company's production and operation involve national interests or major public interests, and the relevant competent departments of the State Council or provincial-level people's governments put forward opinions, the market supervision and administration department of the State Council may agree to make capital contributions according to the original capital contribution period. The second is to stipulate the handling of abnormal capital contributions of the company. If the term of the company's capital contribution and registered capital are obviously abnormal, the company registration authority may make a judgment based on the company's business scope, business conditions, shareholders' ability to make capital contributions, main projects, asset scale, etc., and if it is determined that the principles of authenticity and reasonableness are violated, it may require it to make timely adjustments in accordance with law. The third is to improve regulatory measures. The company shall make an announcement to the public in accordance with the law when adjusting the amount of capital contribution subscribed and paid-in by shareholders, the method of capital contribution, the period of capital contribution, or the number of shares subscribed by the promoters. The company registration authority shall supervise and inspect the company's public subscription and actual payment, and implement classified supervision according to the company's credit risk status. If the company fails to adjust the capital contribution period and registered capital in accordance with the regulations, the company registration authority shall order it to make corrections; If corrections are not made within the time limit, the company registration authority shall make a special mark on the national enterprise credit information publicity system and announce it to the public. In addition, the "Provisions" require that the company registration authority shall strengthen guidance on the adjustment of the company's capital contribution period and registered capital, formulate specific operational guidelines, optimize the handling process, and improve the level of registration facilitation.
The Regulations for the Implementation of the Law on the Protection of Consumer Rights and Interests came into force on July 1
2024 marks the 30th anniversary of the implementation of the Law of the People's Republic of China on the Protection of Consumer Rights and Interests, and as the first administrative regulation supporting it, the Regulations on the Implementation of the Law of the People's Republic of China on the Protection of Consumer Rights and Interests (hereinafter referred to as the "Regulations") will come into force on July 1. The "Regulations" have a total of 7 chapters and 53 articles, which mainly stipulate the following: First, refine and supplement the relevant provisions on the obligations of operators. The second is to improve the relevant regulations on online consumption. The third is to strengthen the obligations of prepaid consumer operators. Fourth, standardize consumer claims. Fifth, clarify the responsibilities of the government for the protection of consumer rights and interests. In addition, the Regulations clarify the requirements for consumer associations to perform their duties, refine the relevant provisions on consumer dispute resolution, and stipulate corresponding legal liabilities for illegal acts. The "Regulations" have five highlights: First, people-oriented. We have comprehensively strengthened the protection of consumers' rights to safety, the right to know, the right to make independent choices, the right to fair trade, the right to tranquility, and personal information. The second is to lead all parties. As a basic and comprehensive general law, business conduct in all fields must follow its provisions; As a special law that is inclined to protect consumers, the rules and regulations of various industries must conform to its spirit. The third is to keep pace with the times. Special provisions have been made for new areas and new issues such as prepaid consumption, live streaming, "one old and one young", "overlord clause", "swiping orders and speculation", "big data killing", automatic renewal, compulsory tie-in sales, and other new issues. Fourth, the pass has been moved forward. Improve mechanisms such as preemptive reconciliation, administrative mediation, and diversified resolution of consumer disputes, so that more disputes can be resolved at the source and nip in the bud. Fifth, social co-governance. Strengthen social supervision and credit constraints, give better play to the role of consumers and consumer associations, and at the same time clearly oppose the abuse of rights and malicious rights protection. See this for details: 🔗 State Council Order No. 778! The "Regulations on the Implementation of the Law of the People's Republic of China on the Protection of Consumer Rights and Interests" is announced! 🔗 Investigate! Interpretation and Discussion on the Handling of Consumer Complaints and Reports in the Context of Order No. 778 of the State Council: 🔗 Discussion! A preliminary study on the responsibilities of the department for the supervision of "prepaid consumption" in the context of the implementation of Decree No. 778 of the State Council!
The Measures for the Management of Agricultural and Rural Standardization came into force on July 1
Decree No. 87 of the State Administration for Market Regulation "Measures for the Administration of Agricultural and Rural Standardization" was promulgated on January 10, 2024 and will come into force on July 1, 2024.
The main contents and highlights of the revision of the "Measures" include: first, the scope of application of the regulations will be expanded from a single agriculture to the agricultural and rural fields, the definition and scope of agricultural and rural standards will be defined, and the technical requirements such as rural facility environment, rural public services, and rural governance will be incorporated into the standardization of agriculture and rural areas. The second is to clarify the requirements for the formulation of agricultural and rural standards. The third is to clarify the scope of national and local standards for agriculture and rural areas. Fourth, highlight the innovation of standard implementation means.
See this for details: full text! Decree No. 78 of the General Directorate! 🔗
The Announcement on Listing 46 Substances such as Bromine Morphine in the Supplementary Catalogue of Controlled Varieties of Non-medical Narcotic Drugs and Psychotropic Substances was implemented
In order to strictly prevent the abuse and spread of NPS and crack down on related criminal activities, the Ministry of Public Security, the National Health Commission and the National Medical Products Administration jointly issued the Announcement on Listing 46 Substances including Bromine and Other Substances in the Supplementary Catalogue of Controlled Varieties of Non-medical Narcotic Drugs and Psychotropic Substances on June 16, 2024, and decided to add 46 new psychoactive substances such as bromine to the list, which will come into force on July 1, 2024.
The new judicial interpretation on anti-monopoly civil procedure will come into force on July 1, 2024
On June 24, the Supreme People's Court promulgated the Interpretation of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Civil Monopoly Dispute Cases (hereinafter referred to as the "New Judicial Interpretation on Anti-Monopoly Civil Litigation"), which will come into force on July 1, 2024.
The new judicial interpretation on anti-monopoly civil procedure is a new comprehensive judicial interpretation formulated in accordance with the Anti-Monopoly Law of the People's Republic of China, as amended in 2022, on the basis of the effective experience and practice of the Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Civil Dispute Cases Arising from Monopolistic Acts promulgated in May 2012. Among them, 9 articles basically follow the provisions of the 2012 judicial interpretation, 5 articles are substantively amended or supplemented, and 37 new articles are added.
The relevant provisions of CCC certification should be paid attention to
The announcement of the State Administration for Market Regulation on the implementation of compulsory product certification management for commercial gas burning appliances and other products stipulates that from July 1, 2025, commercial gas burning appliances, flame retardant wires and cables, electronic toilets, combustible gas detection and alarm products, and water-based interior wall coatings included in the CCC certification catalog shall be certified by CCC and marked with CCC certification marks before they can be manufactured, sold, imported or used in other business activities. From July 1, 2024, the designated certification body will begin to accept CCC certification commissions. See this for details: Just now, 7 products have been included in the 3C certification! Take a quick look at announcements and product descriptions and definitions 🔗
Toothpaste product labels are updated and requirements should be followed
The "Announcement on Implementing the Toothpaste Regulatory Regulations and Simplifying the Requirements for the Filing Materials of Listed Toothpaste" stipulates that if the content of the label of the toothpaste product for simplified filing meets the requirements of the "Regulations", "Measures" and the "Measures for the Administration of Cosmetics Labeling", and only the format of the label needs to be standardized, the listed sales packaging label can be used when simplifying the filing, and the product label update can be completed as required before July 1, 2024.
Safety Code for Inflatable Rides
The mandatory national standard "Safety Specification for Inflatable Amusement Facilities" issued by the State Administration for Market Regulation (National Standards Committee) has been implemented since July 1. For the first time, the new standard proposes that inflatable amusement facilities must be operated outdoors with a fixed foundation or a ballast device fixed to its body, and equipped with an anemometer. The new standard requires that inflatable amusement facilities should have an internal air pressure monitoring device, which can give an alarm in time in case of accidental air leakage failure. The new standard puts forward comprehensive requirements for daily inspection and maintenance, and puts forward specific requirements for operating procedures and precautions, such as weather impact, personnel allocation, and inflatable fan settings, so as to further consolidate the safety responsibilities of users and operators.
Source | Xinhua News Agency, Quality Cloud, China Market Supervision News
Audit | Yu Jackie Chan Zhang Lijuan
Edit | Chen Ying
Internship Editor | Ye Qing
Produced by the New Media and Digital Publishing Department of China Business Press
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2024 Annual Issue of Market Supervision and Administration (Semi-monthly) (24 issues in total)