This column aims to inform you of recent policy announcements made by China’s governmental agencies, with a selection made on the issues most relevant to European SMEs. Do you have questions about regulatory changes and their impact on your business? Ask our experts for free information and advice.
Announcement of Provisional Anti-Dumping Measures on Brandy Imports Originating in the EU
Ministry of Industry and Information Technology – MIIT
On 8 October, China’s Ministry of Industry and Information Technology released announced the implementation of provisional anti-dumping measures on certain brandy imports in containers of less than 200 L originating in the European Union. Import operators shall provide the Customs of the People’s Republic of China with a corresponding deposit in accordance with the deposit ratio of each company determined in the announcement. Read the full text in Chinese >
Network Data Security Management Regulations
State Council
These Regulations are formulated in accordance with the Cybersecurity Law, the Data Security Law, and the Personal Information Protection Law. They apply to network data processing activities and their security supervision and management within the territory of the People’s Republic of China. This document also applies to external activities that process personal information of natural persons within the People’s Republic of China. Read the full text in Chinese >
Special Administrative Measures for Foreign Investment Access – Negative List, 2024 Edition
Source: Ministry of Commerce
The “Special Administrative Measures for Foreign Investment Access (Negative List) (2024 Edition)” will come into effect on November 1, 2024. The new version of the Negative List has been published by China’s Ministry of Commerce (MOFCOM). Read the list >
Announcement on a New Stamp Duty Policy for Enterprise Restructuring
Source: Ministry of Finance and State Administration of Taxation
To support the restructuring and reorganisation of enterprises and the restructuring of public institutions, stimulate the innovation vitality of various business entities, and promote high-quality economic and social development, new stamp duty policies have been released. Read the full text in Chinese >
Opinions on Promoting the Standardization, Regularization and Facilitation of Intellectual Property Public Services
Source: State Intellectual Property Office
This opinion is formulated to thoroughly implement the Outline for Building a Powerful Intellectual Property Nation (2021-2035) issued by the Central Committee of the Communist Party of China and the State Council. Read the full text in Chinese >
Notice on Improving the Level of Financial Services for Small and Micro Enterprises
Source: State Financial Supervision and Administration Bureau
Banking financial institutions should implement the requirements of financial support for the development of the real economy, increase investment in microfinance, enhance financing matching efforts, and effectively enhance the sense of access to financial services for micro and small enterprises. Read the full text in Chinese >
Launch of the Third National Service Month for Individual Business Owners
Source: State Administration for Market Regulation – SAMR
In September 2024, a range of activities will be organised to inform and facilitate access to services to individual business owners in China. A comprehensive service platform for individual industrial and commercial households will be launched, providing them with information services such as legal policies, market supply and demand, recruitment and employment, entrepreneurship training, and financial support. Read the full text in Chinese >
Special Guarantee Plan to Support Scientific and Technological Innovation
Source: Ministry of Finance – MOF
Small and medium-sized enterprises engaged in technological innovation are recognised as highly dynamic and potential innovation entities. The Special Guarantee Plan aims to guide more financial resources towards SMEs to support technological innovation. A focus will be placed on solving the financing difficulties and high costs of promising SMEs that lack effective collateral and are unable to meet bank loan conditions, by increasing support for loans and guarantees. Banks and government financing guarantee and re-guarantee institutions at all levels are required to select SMEs with development potential in an independent manner, in accordance with the principles of market-oriented operation and commercial sustainability. Read the full text in Chinese >
Launch of an Anti-Subsidy Investigation on Imports of Certain Dairy Products from the European Union
Source: Ministry of Commerce – MOFCOM
The Ministry of Commerce announced on 21 August the opening of an anti-subsidy probe into dairy imports originating from the European Union. The investigation will look into subsidies for various types of cheese, milk, and cream under the EU Common Agricultural Policy, as well as subsidy programs implemented by EU Member States including Austria, Belgium, Croatia, Czech Republic, Finland, Italy, and Romania. The investigation will run for one year, until 21 August 2025; it may be extended for six months in special circumstances. Read the full text in Chinese >
Issuance of Work Guidelines on the Innovation Point System (National Trial Version)
Source: Ministry of Science and Technology – MOST
In 2024, the Ministry of Science and Technology will work with the People’s Bank of China to establish a 100 billion yuan science and technology innovation re-loan based on the “Innovation Point System”. After two batches, nearly 30 000 “white list” enterprises have been selected and recommended to the People’s Bank of China as candidate enterprises for science and technology innovation re-loans to increase financing support. The application scenarios of points will also be gradually expanded in science and technology policies, equity investment, and corporate listing. Read the full text in Chinese >
Notice on Further Support for the High-Quality Development of Specialised, Sophisticated and Innovative SMEs
Sources: Ministry of Finance, Ministry of Industry and Information Technology – MIIT
Central fiscal funds will be released and initiatives taken by local governments to promote the development of high-level, specialised and innovative small and medium-sized enterprises, including “Little Giants”. The first batch in 2024 will support over 1000 Little Giants and the scope of support will be expanded in subsequent years. Objectives include increasing investment in scientific and technological innovation, improving SME resilience and consolidating supply chains. Read the full text in Chinese >
Launch of the China SME Service Online Platform
Source: Ministry of Industry and Information Technology – MIIT
A comprehensive online service platform dedicated to providing services to small and medium-sized enterprises was launched on 30 July 2024 by the Ministry of Industry and Information Technology. The new platform harnesses the power big data, cloud computing, and artificial intelligence, to bring together resources that will help SMEs to find relevant policies, markets, talent, funds, training, and more. The new platform’s website URL is https://www.chinasme.cn/. Read the full article in Chinese >
Company Law: Entry into Force of New Provisions on Companies’ Registered Capital on 1 July 2024
Source: State Council
In order to strengthen the registered capital management system, regulate shareholders’ capital contribution obligations, maintain market transaction security, and optimise the business environment, new provisions of the Company Law have entered into force on 1 July 2024. In accordance with the 2023 Company Law, shareholders of a Limited Liability Company (LLC) must pay their subscribed capital in full within five years of the company’s establishment. A transitional period will permit companies registered and established before 30 June 2024 with a subscribed capital payment term exceeding 5 years to adjust their remaining contribution period to within 5 years before 30 June 2027. Read the full text in Chinese >
Government Procurement: Three-Year Action Plan to Address Outstanding Issues
Source: State Council
In order to create a market-oriented, law-based and internationalised business environment, to accelerate the construction of a modernised industrial system, and to promote high-quality economic and social development, a three-year action plan (2024–2026) will address outstanding problems in government procurement. To support the development of small and medium-sized enterprises, the plan aims to remove discriminatory practices and implement support policies in government procurement projects. Read the full text in Chinese >
Launch of an Anti-Dumping Investigation on Imports of Pork and Pork By-Products Originating in the European Union
Source: Ministry of Commerce – MOFCOM
Following a formal complaint by the China Animal Agriculture Association, the Ministry of Commerce announced the opening on 17 June of an anti-dumping investigation into imported pork and its by-products from the European Union. Read the full text in Chinese >
Opinions on Expanding Cross-Border E-Commerce Exports and Promoting Overseas Warehouse Construction
Source: Ministry of Commerce – MOFCOM
To support SMEs, the plan encourages leveraging cross-border e-commerce comprehensive pilot zones and industrial parks to develop industry models. Local governments are advised to establish product selection centres and online zones in collaboration with e-commerce platforms. Additionally, the initiative aims to improve financial support, streamline cross-border fund settlement, and enhance logistics capabilities to boost SMEs’ operational efficiency and reduce costs. Read the full text in Chinese >
Announcement of a “Spring Rain Nourishing Seedlings” Special Action Plan for 2024
Source: State Administration of Taxation – SAT
The Action Plan announced by the State Administration of Taxation aims to support the growth of the private sector economy and to optimise tax services for small and medium-sized enterprises. Read the full text in Chinese >
Guiding Opinions on Promoting High-Quality Development of Inclusive Insurance
Source: National Financial Regulatory Administration – NFRA
The National Financial Regulatory Administration has released guiding opinions with the aim of increasing the risk resistance of SMEs and individual industrial and commercial households. The focus is on expanding the supply of property insurance, intellectual property insurance, cargo transportation insurance, and export credit insurance to disperse operational risks and enhance the security of industrial and supply chains. Read the full text in Chinese >
SAMR: Notice on Implementing and Promoting Anti-Monopoly Compliance Guidelines for Industry Associations
Source: State Administration for Market Regulation
This initiative by the State Administration for Market Regulation seeks to create a fair market environment, protect consumer interests, and support high-quality economic development. The main goals include promoting understanding of relevant guidelines, guiding industry associations in establishing effective compliance systems, and ensuring fair market competition. Read the full text in Chinese >
Fair Competition Review Regulations
Source: State Council
The regulations mandate that all drafting entities, including administrative agencies and organisations authorised by laws and regulations with public management functions, must conduct fair competition reviews when drafting policies affecting economic activities. The aim is to ensure that policies do not unjustly restrict market entry or exit, limit the free flow of goods and factors, or create unfair competitive advantages. Read the full text in Chinese >
Launch of the 2024 National Month of Activities for Small and Medium-sized Enterprises
Source: Ministry of Industry and Information Technology – MIIT
The overarching goal of this month of activities is to foster a service environment and industrial ecosystem conducive to the specialised and innovative growth of SMEs. Read the full text in Chinese >
Notice on the Pilot Work for Cities of Digital Transformation for SMEs in 2024
Source: Ministry of Finance – MOF
This initiative aims to advance the digital transformation of SMEs and accelerate the development of new high-quality productivity. Read the full text in Chinese >
Feedback Collection on the Unequal Treatment of Enterprises in Laws, Regulations, and Policies
Source: National Development and Reform Commission – NDRC
The CPC Central Committee and the State Council are seeking feedback to eliminate unequal treatment of enterprises in laws and policies, in order to remove barriers hindering business development. Read the full text in Chinese >
Organisation of a “100 Cities and 1000 Parks” Programme for Industrial Internet Integrated Parks
Source: Ministry of Industry and Information Technology – MIIT
This initiative aims to leverage the clustering advantages of industrial parks and facilitate the widespread adoption of industrial internet at city and county levels, in order to accelerate the digital transformation of enterprises, especially SMEs. Read the full text in Chinese >
Implementation Programme for Coordinating the Construction of Financing and Credit Service Platforms for SMEs
Source: State Council
A new circular vows to strengthen credit information collection and sharing to improve the access to financing services for SMEs. Read the full text in Chinese >
Notice on the Organisation and Promotion of Industrial Clusters for SMEs in 2024
Source: Ministry of Industry and Information Technology – MIIT
County-level authorities have been invited to select top-performing clusters in niche areas in a call for submissions to identify specialised industrial clusters of SMEs in 2024. Read the full text in Chinese >
Notice on the Review and Fostering Work for “Little Giant” Enterprises
Source: Ministry of Industry and Information Technology – MIIT
This initiative aims to support the development of SMEs by identifying and fostering a new group of “Little Giants” known for their specialisation, innovation, and niche market leadership, contributing to the qualitative improvement and structural optimisation of the SME sector. Read the full text in Chinese >
Notice on the Launch of the 2024 “Three Products” National Campaign
Source: MIIT and Ministry of Commerce – MOFCOM
This initiative seeks to enhance the supply capacity of consumer products and services. It aims to contribute to upgrade consumption patterns and solidify the supply foundation in the strategy to expand domestic demand. Read the full text in Chinese >
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