Personal Finance - How To Information. After 1. 3 years on the drawing board, the Anti- Monopoly Law passed by the Standing Committee of the National People's Congress (NPC), China's top legislature, winning 1. Aug. Foreign companies have begun to acquire major state- owned enterprises or companies with famous brands, arousing concerns about economic security. China has already established a basic national security check system for foreign mergers and acquisitions.
Foreign investors should apply for approval from the Ministry of Commerce (MOC) if their purchases of domestic companies affect national economic security, take place in key sectors or cause a transfer of the operating rights of famous domestic brands, according to a regulation issued by the MOC along with five other government organs last year. Before that, only mergers and acquisitions worth more than 1. U. S. The government will strengthen examination and supervision of foreign merger operations affecting major enterprises in sensitive sectors and issue policies to improve the system for admitting foreign- invested industries by the end of 2. National Development and Reform Commission (NDRC). In December last year, the State Council, China's cabinet, released a list of strategic sectors in which the state would retain control. The list included military- related manufacturing, power production and grids, petroleum, gas and petrochemicals, telecom manufacturing, coal, civil aviation and shipping. Zhao Jinping, a researcher of the Development Research Center of the State Council, said the implementation of the law would have no effect on normal foreign investment and purchases. Bharat has made great strides in all the fields contributing to the growth and development. The upsurge is unstoppable and remarkable. As a nation the whole country is cruising towards . An individual as a citizen of India has a major role to the total. With over 30 course sessions to choose from in 2014. ManagementParadise.com - India’s largest Online MBA Management Project Download for Students and Professionals. 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He said the two documents issued by the MOC and NDRC, aiming to restrict malicious foreign purchases, were not a signal for China to limit foreign direct investment. Mei Xinyu, a researcher of the Chinese Academy of International Trade and Economic Cooperation, said legislation on foreign merger would affect foreign companies taking advantage of legal loopholes, but not affect law- abiding companies. New policies imposed on foreign companies failed to curb foreign investment. The number of companies with total foreign investment over 1. U. S. The law, with eight chapters and 5. It prohibits monopolies from using their dominant status in themarket to curb competition, fix prices, enforce package sales, andrefuse or enforce trade. All companies seeking mergers or acquisitions would have to notify the anti- monopoly law enforcement departments if the actions meet the standard set by the State Council. The law also stipulates that . The law bans trade associations from organizing companies in their own industries to take monopolistic actions prohibited by this law. The provision was added during the third reading of the anti- monopoly law. Late last month, the prices of instant noodles were hiked by about 1. Yan Jinhu, member of the NPC Standing Committee, said the behavior caused panic in the society as many residents rushed to supermarkets for purchase of instant noodles. Other members also agreed to add the provision into the law after having a heated discussion over the issue. China joins more than 8. Drafting of the law began in 1. Experts said China's socialist market economy had matured in the last decade, and the current market circumstances made the introduction of an anti- monopoly law imperative. From http: //www. TOP. With seven chapters and 7. Nov. The emergency response law will help effectively minimize losses and prevent minor mishaps from turning into major public crisis, lawmakers said. The law bans the fabrication and spread of false information on accidents and disasters and requires government to provide accurate and timely information. The law also states that . Media organizations or web companies may face revoke of business licenses if their offences lead to serious consequences. Government officials shall be given administrative punishment if they are engaged in this malpractices, says the law. Behavior that contravenes public security management rules or criminal statutes will lead to prosecution, the law says. From http: //www. TOP. The Standing Committee of the National People's Congress (NPC) voted at its legislative session that ended on Thursday to add one clause to the General Principles of the Law on the Management of Urban Real Estate, which allows the expropriation for public interests while demanding compensation to owners. The new clause also underscores that the legal rights of the owners must be protected and residence conditions of private owners after resettlement must be guaranteed. The top legislature authorized the State Council, or the cabinet, to make administrative regulations on such expropriation to ensure the smooth implementation of the Property Law that was enacted in March and is to go into force on October 1. Currently, there is no law defining the rights and procedure for the expropriation of institutional and private real estate, while the existing . The amendment conforms with the First Clause of the 4. Article of the Property Law, which says land belonging to institutions and houses and other real estate belonging to institutions and individuals can be expropriated for public interests, within the limits of rights and procedure defined by law. From http: //www. TOP. Despite a decline in the total number of accidents since the year's beginning, the situation of safe production is still grim, with frequent occurrence of big accidents in the areas of coal mining, metallurgy, construction and transport, the circular said. Local governments and authorities are required to appoint senior officials to be responsible for safe production and to lead inspections into key areas and enterprises. The circular told local governments to keep close watch on climate changes and establish effective warning systems to forecast natural disasters. The circular required local governments to intensify traffic controls and launch safety inspections in schools before the autumn semester. Local authorities should encourage people to report illegal production activities, severely punish people who are held responsible for accidents and publicize the results of investigations in time. Governments at all levels are required to report to the State Council the results of their implementation of the circular before Sept. Several fatal mass accidents happened in August, including a bridge collapse in central China's Hunan Province which killed 6. From http: //www. TOP. The amendment came amid efforts to ensure the smooth implementation of the Property Law, which will also come into effect on October 1. The 7. 0- article regulation aims to . The regulation stipulates that . Under the new regulation, raising or using special funds for maintenance and reconstruction and affiliate facilities should be approved by over two thirds of the owners possessing more than two thirds of the total building area, which conforms with the 7. Article of the Property Law. From http: //english. TOP. The Communist Party of China and the central government had paid great attention to teachers' wages and issued a series of policies to raise their incomes, Lu said. China's Compulsory Education Law which took effect last September stipulates that the local average wage for teachers should not be lower than that of civil servant. Teachers' wages generally comprise two parts: . Gao Weiwei, a math teacher at a Beijing middle school, told Xinhua that her . But Gao said she could earn about 4,0. US$5. 26) per month, whereas Wang only earned a monthly wage of 1,7. US$2. 23. 7), showing a distinct gap in . Lu said teachers in remote areas could get subsidies. The government should also guarantee the living and working conditions for teachers, safeguard their interests and give them more . The central government will continue financial support to rural teachers in central, western and some eastern areas, and local governments should strengthen transfer payment to poor regions. From Xinhua News Agency 0. TOP. The order is the latest effort by Beijing to reform capital punishment in China, which is believed to carry out more court- ordered executions than all other countries combined. The order was issued to provincial courts on Wednesday, it said. When possible, the statement said, judges should sentence an offender to death, but with a two- year reprieve - - a penalty often commuted to life in prison if they behave well in jail. The order said crimes of passion, such as the murder of a family member or neighbor, should not automatically result in the death penalty if compensation is paid to the victim's family. Those convicted of economic crimes should also receive lighter penalties if they help authorities recover the money, the order said. China regularly executes people for economic, political and nonviolent crimes. In July, the country's former top drug regulator was executed for taking millions of dollars in bribes to approve substandard medicines, including an antibiotic that killed at least 1. China does not officially release death sentence figures. Amnesty International says China executed at least 1,7. But the true number is thought to be many times higher. While the Supreme Court order called for greater restraint in ordering executions, it still upheld the use of the death penalty as a deterrent. An amendment to China's capital punishment law, enacted in November, requires the Supreme Court to approve all death sentences, ending a 2. The change followed reports of executions of wrongly convicted people and criticism that lower courts arbitrarily impose the death sentence. From http: //www. TOP. The regulation, passed Friday, requires bureaus and government departments to apologize to the public through newspapers or press conferences within 2. The apology must specify the reasons behind the wrongdoings and remedies, the regulation says.
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