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In addition to elaborating the Tentative Measures for the Administration of Overseas Utilization of Foreign Exchange Insurance Funds, the Implementation Rules further establish the basic management structure, duties and responsibilities, their basic operations and management procedures, and their selection following market-oriented principles for the insurance company (the entrusting party), the investment management institution (the entrusted party) and the commercial bank (the custodian). The Implementing Rules also add new overseas products such as structured deposits, mortgaged-backed securities and money market funds. It also introduces independent third parties in supervising funds flow, internal control mechanisms, accounting, credit rating and assets evaluation.

Supreme People's Court and Supreme People's Procuratorate, Official Reply to Issues Relevant to Handling Criminal Cases on the Infringement of Copyright Involving Audiographic and Videographic Works [Legislation Digest]
最高人民法院、最高人民检察院关于办理侵犯著作权刑事案件中涉及录音录像制品有关问题的批复

China Securities Regulatory Commission, Circular on Issues Relevant to Investments in Short-term Financing Bills by Money Market Funds [Legislation Digest]
中国证券监督管理委员会关于货币市场基金投资短期融资券有关问题的通知
The Circular provides for the minimum credit rating of short-term financing bills in which a money market fund invests, while the domestic credit rating shall prevail over international credit rating. The percentage of the investment by a money market fund in the short-term financing bills and short-term corporate bonds issued by one company may not in total exceed 10% of the net value of the fund's assets. If the credit rating of short-term financing bills held by a money market fund drops, the fund shall fully divest itself of such bills within 20 trading days.

China Securities Regulatory Commission, Ministry of Finance and People's Bank of China, Measures for the Administration of the Securities Investor Protection Fund [Legislation Digest]
中国证券监督管理委员会、财政部、中国人民银行证券投资者保护基金管理办法
Setting up and operation of state-owned securities investor protection fund.

Press Office of the State Council and Ministry of Information Industry, Provisions for the Administration of Internet News Information Services [Legislation Digest]
国务院新闻办公室、信息产业部互联网新闻信息服务管理规定
Regulating online news dissemination and broadcasting within the PRC.

State Administration of Radio, Film and Television, Measures for the Administration of the Distribution and Exhibition of Digital Films (Trial Implementation) [Legislation Digest]
国家广播电影电视总局数字电影发行放映管理办法 (试行)

State Administration of Taxation, Measures for the Administration of Individual Income Tax [Legislation Digest]
国家税务总局个人所得税管理办法

State Administration of Taxation, Official Reply to Issues Relevant to Tax Rebates on Re-capitalization of Foreign investors [Legislation Digest]
国家税务总局关于外国投资者再投资退税有关问题的批复

General Administration of Quality Supervision, Inspection and Quarantine, Measures for the Administration of Certification Training Institutions [Legislation Digest]
国家质量监督检验检疫总局认证培训机构管理办法
Registration requirement for foreign-established certification and training institutions.

General Administration of Quality Supervision, Inspection and Quarantine, Measures for the Administration of Certification Consultancies [Legislation Digest]
国家质量监督检验检疫总局认证咨询机构管理办法

Other Recent Legislation for this Month [Legislation Digest]

October 2005

Civil Aviation Administration of China, Provisions for Domestic Investment in the Civil Aviation Industry (Trial Implementation) [Legislation Digest]
中国民用航空总局国内投资民用航空业规定 (试行)

Shenzhen Stock Exchange, Tentative Measures for Administration of Warrants [Legislation Digest]
深圳证券交易所权证管理暂行办法

China Banking Regulatory Commission, Measures for the Administration of Pilot Money Brokers [Legislation Digest]
中国银行业监督管理委员会货币经纪公司试点管理办法

Shenzhen Stock Exchange, Rules for Handling the Subscription, Purchase and Redemption of Open-ended Funds (Trial Implementation) [Legislation Digest]
深圳证券交易所开放式基金认购、申购、赎回业务办理规则 (试行)

People's Bank of China, Circular on Further Improving Administration of the Exchange Rates for Transactions on the Inter-bank Foreign Exchange Market and the Posted Exchange Rates of Designated Foreign Exchange Banks [Legislation Digest]
中国人民银行关于进一步改善银行间外汇市场交易汇价和外汇指定银行挂牌汇价管理的通知

Shenzhen City, Implementing Measures for the Administrative Licensing for Registration of Printed Advertisements in Fixed Forms [Legislation Digest]
深圳市固定形式印刷品广告登记行政许可实施办法

General Offices of Ministry of Commerce and General Administration of Customs, Circular on Issues Relevant to the Administration of Trade in Bonded Zones and Bonded Logistics Parks [Legislation Digest]
商务部、海关总署办公厅关于保税区及保税物流园区贸易管理有关问题的通知

Shanghai Stock Exchange, Tentative Measures for Administration of Warrants [Legislation Digest]
上海证券交易所权证管理暂行办法

Shanghai Stock Exchange, Rules for Handling the Subscription, Purchase and Redemption of Open-ended Funds (Trial Implementation) [Legislation Digest]
上海证券交易所开放式基金认购、申购、赎回业务办理规则 (试行)