Attention, many new policies and regulations will be implemented from August 1!

From August onwards, another batch of policies and regulations will be officially implemented. For example, the entry into force of the free trade agreement between Vietnam and the European Union, the rules for the determination of standardized debt assets will be implemented, and the local financial regulations of Zhejiang Province will be implemented on August 1... Today, let's take stock of the specific contents.

The EU-Vietnam FTA came into force on August 1.

A few months ago, Vietnam ratified the EU-Vietnam Free Trade Agreement (FTA) and the EU-Vietnam Investment Protection Agreement. The eight-year free trade agreement will enter into force on August 1, 2020. Among ASEAN countries, Vietnam is the second country to sign a free trade agreement with the EU after Singapore. The Vietnamese government portal said that Vietnam is the first developing country in the Asia-Pacific region to sign a free trade agreement with the European Union. It is reported that the Vietnam-EU Free Trade Agreement includes 17 chapters, 2 protocols and some memorandums, covering tariff concessions, customs and trade facilitation, technical standards, animal and plant inspection measures, open investment, service trade and e-commerce, intellectual property rights, government procurement, competition policy, state-owned enterprises, sustainable development and dispute settlement.

2. The Administrative Penalty Measures of the China Banking and Insurance Regulatory Commission will come into effect on August 1.

The China Banking Regulatory Commission recently issued the Administrative Penalties Measures of the China Banking Regulatory Commission, which will come into effect on August 1, 2020. The "Measures" focus on standardizing administrative penalty procedures, improving the effectiveness of administrative penalties, and improving the credibility of law enforcement, and comprehensively standardizing the administrative penalty procedures of the banking and insurance industry. The Measures stipulate that before making a penalty decision, the parties shall be informed in advance of the facts, reasons and basis of the administrative penalty decision to be made, and informed that they have the right to state and defend themselves. If they meet the conditions for the hearing, the parties may apply for a hearing in accordance with the law, and shall not be aggravated by the parties' defense. Punishment. If it is clear that the party concerned is not satisfied with the decision on administrative penalty, he shall have the right to bring an administrative reconsideration or an administrative lawsuit.

3. The Standardized Rules for the Determination of Debt Assets will be implemented.

Recently, the Central Bank, the CBRC, the CSRC and the Foreign Exchange Bureau jointly issued the Rules for the Determination of Standardized Debt Assets, which came into effect on August 3, 2020. The Deeming Rules define the underlying debt assets as "fixed income securities such as bonds and asset-backed securities issued in accordance with the law" and list some of the underlying debt assets. Some of the debt assets that market institutions are concerned about, such as government bonds, railway bonds, central remittance bonds, panda bonds and other varieties traded in the inter-bank and exchange bond markets, belong to the underlying debt assets. The Determination Rules also classify some financial products that are generally concerned by market institutions and have a vague nature as non-standard assets, such as the brokerage income certificate of China Securities Inter-Agency Quotation System Co., Ltd., and the debt investment plan and asset support plan of Shanghai Insurance Exchange Co., Ltd., etc., and clarify the market's expectations for the scope of non-standard assets.

4. The new version of "civil construction engineering indoor environmental pollution control standards" will be implemented

Recently, the Ministry of Housing and Urban-Rural Development issued the national standard "Indoor Environmental Pollution Control Standards for Civil Construction Projects". The release of the new version of the "standard" will increase the indoor air pollutants in toluene and xylene. The classification of decoration materials is refined, and the limit of pollutant content (release amount) and determination method of some materials are adjusted. Specific requirements are put forward for the minimum ventilation frequency of Class I civil buildings with natural ventilation. And the kindergarten, school classrooms, student dormitories and other decoration put forward more stringent pollution control requirements. The new version of the standard will be implemented from August 1, 2020.

5. The Local Financial Regulations of Zhejiang Province will come into force on August 1.

On August 1, the "Regulations on Local Finance in Zhejiang Province" (hereinafter referred to as the "Regulations") will be officially implemented. This is another local regulation in the financial field issued by Zhejiang Province after the "Wenzhou Private Financing Management Regulations. On the afternoon of July 27, the Legislative Affairs Committee of the Provincial People's Congress, the Finance and Economic Committee of the Provincial People's Congress, and the Provincial Local Financial Supervision Administration jointly held a publicity and implementation meeting on the "Zhejiang Local Financial Regulations" in Hangzhou. The regulations raise the practical achievements of local financial management in Zhejiang Province to the legislative level, and establish rules and regulations from the aspects of supervision and management of local financial organizations, prevention and disposal of financial risks, and financial services to the real economy, which have attracted the attention of all sectors of society.

6. From August 1, Ukraine will implement a visa-free system for Chinese citizens.

On July 28, local time, Ukraine signed a new document announcing the implementation of a visa-free system for Chinese citizens, which will take effect today. Specifically, from August 1, 2020 to January 31, 2021, Chinese citizens entering or transiting Ukraine for tourist purposes and staying for no more than 30 days can enjoy visa-free treatment.

7. Measures of Yunnan Province on Optimizing Business Environment shall come into force on August 1

Recently, the People's Government of Yunnan Province issued the "Measures for Optimizing the Business Environment of Yunnan Province" (hereinafter referred to as the "Measures"), clarifying that governments at all levels and their relevant departments and institutions shall not default on the goods, projects, and services of market entities. The measures will come into force on August 1, 2020. It is reported that the "Measures" has 7 chapters and 71 articles. In addition to the general provisions and supplementary provisions, it also clarifies five aspects of market entity protection, market environment, government services, supervision and law enforcement, and legal protection.

8. "Regulations on the Prevention and Control of Air Pollution in Hanzhong City" shall come into force on August 1

The regulations on the Prevention and Control of Air pollution in Hanzhong City was adopted at the 21st meeting of the standing Committee of the Fifth people's Congress of Hanzhong City on December 23, 2019, and approved at the 17th meeting of the standing Committee of the 13th people's Congress of Shaanxi Province on June 11, 2020, and will be formally implemented from August 1 this year. The regulations on the Prevention and Control of Air pollution in Hanzhong City includes six chapters and 63 articles, including general principles, supervision and management, prevention and control measures, response to heavy pollution weather, legal liability and supplementary provisions, which are applicable to the prevention and control of air pollution and its supervision and management activities in the administrative area of Hanzhong City.

9. The Regulations of Hainan Province on Diversified Dispute Resolution came into force on August 1

The "Regulations of Hainan Province on Diversified Dispute Resolution" (hereinafter referred to as the "Regulations") will come into effect on August 1. The Regulations clearly stipulate the establishment of a diversified mechanism for resolving international commercial disputes and improve the centralized trial mechanism for international commercial dispute cases. In order to better serve the construction of Hainan free trade port, the regulations allow overseas commercial mediation institutions to participate in commercial mediation in accordance with the relevant provisions of the state through institutional innovation. The "Regulations" have 5 chapters and 49 articles, which regulate the mechanism, channels and service platforms for resolving disputes from four aspects. The Regulations build a dispute resolution mechanism of organic convergence, coordination and linkage through a variety of ways to resolve disputes, such as the diversification of subjects, the linkage of subjects, and the diversification of ways to resolve disputes.

10. Fujian's First Local Regulations on Ferry Management will come into effect on August 1

According to a report by the Voice of China National News Network of China Central Radio and Television, the "Fujian Province Ferry Management Measures" (hereinafter referred to as the "Measures") will be officially implemented on August 1. This is the first regulation to regulate the management of ferry transportation in Fujian Province. The government regulations have made up for the gaps in the local regulations for the management of ferry transportation in Fujian.