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By Li Jinnan and Pan Ye of King & Wood’s Finance Group

I. Background

On October 17, 2007, the State Administration of Industry and Commerce ("SAIC" and its local counterpart "AIC") issued the Rules on Registration of Mortgage over Movable Properties ("New Rules")(1) , which came into force on the same day. As an implementation of the recently effective Property Right Law of the People’s Republic of China ("Property Law")(2) , these New Rules supersede the previous Rules on Registration of Mortgaged Movable Properties issued by SAIC in 1995 ("Old Rules")(3) . We herein set out an introduction on the key features of the New Rules in comparison to the Old Rules.Continue Reading New Rules on Perfection of Mortgage over Movable Properties

By Zhang Tianhui, Editor of King & Wood’s Publication Group

The Urban and Rural Planning Law of the People’s Republic of China ("Urban and Rural Planning Law") was adopted at the 30th Meeting of the Standing Committee of the 10th National People’s Congress on October 28, 2007, and became effective on January 1, 2008. The City Planning Law of the People’s Republic of China is abolished simultaneously. Previously, urban and rural plans were governed by different laws, namely, the City Planning Law governed urban areas and the Administrative Regulations on the Country and Township Construction Plans governed rural areas.(1) This division of governance was commonly referred to as "one law and one regulation". As separate systems of plans, the one law and one regulation contained their own respective principles. The Urban and Rural Planning Law, addressing both urban and rural planning, ends an era of one law and one regulation and starts an era of uniform urban and rural planning.Continue Reading New Year and New Plans — Urban and Rural Planning Law Effective January 1, 2008