Policies

Policies and regulations in July

2023-8-15 13:49:36

1. The EU announced the rules governing the implementation of the Carbon Border Adjustment Mechanism (CBAM) during its transitional phase. The EU announced the rules governing the implementation of the Carbon Border Adjustment Mechanism (CBAM) during its transitional phase on August 17. The rules will start on October 1, 2023 and run until the end of 2025. This marks that the EU will become the first economy in the world that imposes a “carbon tariff”. (CCTV News)

2. EU regulations: General Product Safety Regulation (GPSR) will enter into force. The General Product Safety Regulation (EU) 2023/988 (GPSR) will enter into force on December 13, 2024, replacing the existing General Product Safety Directive (GPSD, 2001/95/EC) and Food Imitating Products Directive (87/357/EC). The new regulation will further modernize the EU’s general product safety framework and better address the new challenges brought about by the digitalized economic development. (OUCE)

3. The Opinions of the Central Committee of the Communist Party of China and the State Council on Promoting the Development and Growth of the Private Sector puts forward 31 policies and measures to support the development of the private sector. The Opinions requires to continue to optimize the business environment for the private sector, enhance policy support, strengthen the legal guarantee in the pursuit of the development of the private sector, focus on promoting its high-quality growth, and facilitate the healthy growth of those working in the private sector, continuously fostering a social atmosphere that cares about and promotes the robust development of the private sector. (Xinhua News Agency)

4. The latest document issued by the State Council! The alignment with high-standard international rules will be first piloted in these cities. The State Council recently issued the Measures for Promoting Institutional Opening-up by Piloting Alignment with High-standard International Rules in Qualified Free Trade Zones and Free Trade Port, to steadily deepen the institutional opening up by piloting the alignment with relevant high-standard international economic and trade rules in qualified Free Trade Zones located in Shanghai, Guangdong, Tianjin, Fujian, and Beijing, as well as the Hainan Free Trade Port. (CCTV-2)

5. “Carbon” intensity! Ten authorities jointly issued the Plan on Implementing Demonstration Projects Featuring Advanced Green and Low-carbon Technologies. Ten authorities, including the National Development and Reform Commission and the Ministry of Science and Technology, recently released the Plan on Implementing Demonstration Projects Featuring Advanced Green and Low-carbon Technologies, which proposes to establish a batch of green and low-carbon projects featuring advanced technologies and great emission reduction. (National Development and Reform Commission)

6. The State Taxation Administration has clarified the enhanced implementation of relevant preferential policies for individual income tax to support individual industrial and commercial households. According to the Announcement No. 12 jointly released by the Ministry of Finance and the State Taxation Administration, individual industrial and commercial households with an annual taxable income not exceeding 2 million yuan will have their personal income tax halved from January 1, 2023 to December 31, 2027. Individual industrial and commercial households can enjoy this preferential policy in addition to the existing individual income tax preferential policies. (State Taxation Administration)

7. Beijing Municipal Intellectual Property Office: Notice on Revising the Measures for the Administration of Intellectual Property Operation Funds of Key Industries in Beijing. To further standardize the management and operation of intellectual property operation funds of key industries in Beijing, enhance the effectiveness of government investment and promote the development of strategic emerging industries in Beijing, Beijing Municipal Intellectual Property Office and Beijing Municipal Finance Bureau revised the Measures for the Administration of Intellectual Property Operation Funds of Key Industries in Beijing (Jing Zhi Ju [2018] No.42) as required by the municipal government. (Beijing Municipal Intellectual Property Office)

8. To boost consumption, Beijing Municipal Commerce Bureau issued the 2023 Action Plan for Accelerating the Recovery and Expansion of Consumption to Sustain the Development of Beijing into an International Consumption Center City. The plan proposes to earnestly implement the requirements for the “Year of Consumption Reboot” by the Ministry of Commerce from such six aspects as advocating green consumption, boosting bulk commodity consumption and enhancing brand cultivation and bring-in, accelerating the creation of a fashion consumption hub and optimizing the layout of consumption spaces, promoting online and offline integration and deepening “consumption+” and “+consumption” initiatives, advancing the integrated development of the consumption in business, tourism, culture and sports and expediting the commercialization of resources in “science, education, medical care, and elderly care exhibitions”, optimizing the supply of service consumption, innovating ways of services and creating a good atmosphere, and continuously optimizing the consumption environment. The focus is on making services more convenient and improving their quality to effectively enhance the satisfaction of citizens and the public.. (www.beijing.gov.cn)