1. China Has Strengthened Examination, Approval and Administration of Foreign Direct Investment in the Real Estate Market
The Ministry of Commerce and the State Administration of Foreign Exchange have jointly released the Circular on Further Strengthening and Regulating the Examination, Approval and Administration of Foreign Direct Investment in the Real Estate Market (Shang Zi Han [2007] No. 50) in May 2007, as a supporting regulation for the implementation of the Opinions on Regulating the Access to and Administration of Foreign Investment in the Real Estate Market (Jian Zhu Fang [2006] No. 171) issued by six ministries and departments under the State Council in July 2006.  The Circular aims to strengthen and regulate the examination, approval and supervision on foreign direct investment in real estate market through the administration of foreign investment and foreign exchange.
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2.The CBRC Adjusted the Investment Scope of Overseas Wealth Management Business of Commercial Banks on Behalf of Clients
In order to enrich overseas wealth management products and promote the development of the overseas wealth management, the China Banking Regulatory Committee promulgated the Notice of the Adjustments to the Investment Scope of Overseas Wealth Management Business of Commercial Banks on behalf of Clients on May 10, 2007.  According to the Notice, commercial banks are allowed to directly invest in overseas stocks and related structural products on behalf of clients.  However, commodities-based derivative products, hedge funds and debt securities with credit ratings below BBB as rated by an international credit rating agency are still forbidden for the overseas investment made by commercial banks on behalf of clients.
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3. The State Council Revised the Administrative Measures for the Registration of Partnership Enterprises
The State Council promulgated on May 9, 2007 the revised Administrative Measures for the Registration of Partnership Enterprises.  As the supporting regulation to the new revised Partnership Enterprises Law, the Measures were put in force together with the new Partnership Enterprises Law on June 1, 2007. The article introduces the major changes compared with the Administrative Measures for the Registration of Partnership Enterprises promulgated in 1997.
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4.The Administrative Measures on Filing of Commercial FranchiseAnd The Administration Measures on Disclosure of Commercial Franchise Information
The Administrative Measures on Filing of Commercial Franchise and the Administration Measures on Disclosure of Commercial Franchise was promulgated by the Ministry of Commerce of the People’s Republic of China on April 30, 2007 and came into effect on May 1, 2007.  The two measures are promulgated for the purpose of the implementation of the Regulations on the Administration of Commercial Franchise promulgated by the State Council.  This article introduces the main points of these two regulations.
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5.Measures for the Administration of Foreign Stock Exchange’s Representative Office in China Promulgated by CSRC
For the purpose of regulating the establishment of the foreign stock exchange’s representative office and its business operation in China, China Securities Regulatory Commission promulgated the Measures for the Administration of Foreign Stock Exchange’s Representative Office (the “Measures”) on May 20, 2007 and the Measures came into force as of July 1, 2007.
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