28 China’s Economic and Trade Laws Changed This Year

28 Chinese Economic and Trade Laws will change this year… “Businesses need to be careful”
Martial Arts “Enforce the Civil Code and strengthen consumer goods quality and environmental management”

(Seoul = Yonhap News) Reporter Boram Yoon = As China’s 28 revised and enacted economic and trade related laws go into effect from this year, many changes are expected, so companies pointed out that they should be careful.
On the 10th, the Beijing branch of the Korea International Trade Association published a report on’China’s major economic and trade laws that will change in 2021′ in collaboration with Chinese law firm Jingdu.
China’s first’civil law’ came into effect on January 1.
The Civil Code is characterized by positively reflecting social changes such as formal recognition of digital documents, including online contracts, in written form.
In particular, for the first time, a mental damage compensation system for infringement of moral rights was newly established, and it was stated that in the case of serious mental damage due to the personal rights of the other party being damaged due to the breach of one party, it is possible to claim mental damages as well as claim liability for the breach.
The new’Cosmetic Supervision and Management Ordinance’ to strengthen consumer goods quality management was also implemented from January 1.
It consists of 80 articles that are more than twice as many as the existing’Cosmetic Hygiene Supervision Ordinance’, which regulates more specific and strict management.
For imported cosmetics, when registering and reporting, it is necessary to provide proofs related to production quality control by overseas production companies and certification data sold in the product production area and the country of origin.
In cases where it is difficult to submit data of origin because it is produced for export to China, related research and experiment data for Chinese consumers should be submitted.
In addition, in terms of environmental protection, the’Announcement on the Total Ban on Import of Solid Waste’ enacted last year was enforced on January 1, and the import of all types of solid waste was banned. The export of solid waste from bonded areas in China is also restricted.
In addition, the purchase of electric vehicles, plug-in hybrid (PHEV) vehicles, and fuel cell vehicles this year is exempt from vehicle purchase tax.
In order to expand openness to the outside world, from January 1, the provisional import tax rate lower than that of the most-favored countries was applied to 883 items (based on 8 units of HS) such as anticancer drugs, hearing aids, and fuel cell circulation pumps.
From July 1, the tax rate for 176 information and communication (IT) products will be further reduced.
From April 15th, China will enforce the’Biosafety Act’ and manage biosafety by upgrading it to the level of national security. If foreign species are brought in without permission, a fine of 50,000-250,000 yuan is imposed along with confiscation.
From June 1, the revised bills of the’Patent Law’ and the’Copyright Law’, which are deeply related to intellectual property rights, which are one of the core of the US-China trade dispute, will be implemented.
In the amendment to the Patent Law, the protection period for utility models was extended from 10 to 15 years, and the maximum amount of compensation was raised from 10,000 to 1 million yuan to 30,000 to 5 million yuan by introducing a punitive damages compensation system.
The definition of works subject to the copyright law is also expanded from’movies or similar movies’ to’audiovisual works’, and online live broadcasting, online games, short clips, animations, etc. are also protected.
Park Min-young, head of the Beijing branch of the International Trade Association, said, “Recently, foreign companies have expanded their access to the Chinese market, and the institutional part of China has been continuously supplemented and refined.” I hope” he said.
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