股权出资，是指投资人以其持有的在中国境内设立的有限责任公司或者股份有限公司的股权作为出资，投资境内其他有限责任公司或者股份有限公司。《办法》规定下列股权不得作为出资：来自注册资本尚未缴足的公司的股权、已设立质权的股权、依法冻结的股权和公司章程规定不得转让的股权。

与《公司法》和《公司登记管理条例》的一般性规定相比，《办法》对股权出资的实际缴纳时限的规定较为严格：投资人以股权出资设立公司的，投资人应当自被投资公司成立之日起一年内实际缴纳；投资人以股权出资增加公司注册资本的，应当在被投资公司申请办理增加注册资本变更登记前实际缴纳。

According to the Measures, “contribution with equity interests” refers to capital contribution made by an investor using its equity interest in a limited liability company or a company limited by shares that is established in China .  The Measures stipulate that the following equity interests are not qualified for capital contribution: (i) equity interests in a company whose registered capital has not been fully paid in; (ii) equity interests that have been pledged; (iii) equity interests that have been frozen under the applicable laws; or (iv) equity interests that are not transferable under the articles of association of the relevant companies.

Compared with the counterpart provisions of the Company Law and the Administrative Regulations for Corporate Registration, the Measures provide more stringent requirements on the time frame for making capital contribution with equity interests.  Under the Measures, capital contribution made with equity interests shall be fully contributed by the investor within one year from the establishment of the invested company; in case of an increase in the registered capital of the invested company, capital contribution made with equity interests shall be fully contributed before the invested company applies to the competent authority for registration of the increase in its registered capital.

根据修订后的《办法》，《政府核准的投资项目目录》和政府投资项目中由国务院或国务院投资主管部门核准或审批的项目项下的技术进口合同，由商务部负责登记管理；其他自由进出口技术合同由各省级（含计划单列市）商务主管部门负责登记管理。

修订后的《办法》，原则上要求技术进出口方在合同生效后60天内办理合同登记手续。登记内容包括合同号、合同名称、技术供方、技术受方、技术使用方、合同概况、合同金额、支付方式、合同有效期。自由进出口技术的进出口方应在商务部政府网站上的“技术进出口合同信息管理系统”（网址：jsjckqy.fwmys.mofcom.gov.cn）对合同信息进行网上登记，然后至商务主管部门办理登记手续。

According to the amended Measures, technology import/export contracts executed under (i) projects governed by the Catalogue of Investment Projects Subject to Government Approval, or (ii) government invested projects that are approved or reviewed by the State Council or its department for investment administration shall be registered with the MOC.  Other import/export contracts with respect to technologies that may be imported or exported without approval shall be registered with the MOC’s local branches at the provincial level (including the MOC’s local branches at State-Plan-Designated Cities).

The Measures require, in principle, an importer or exporter to register its technology import or export contract within 60 days after the effective date of the contract.  The items to be registered include the contract number, title of the contract, the provider, receiver and user of the technology at issue, a summary of the contract, the contract amount, payment term and duration of the contract.  To register the import/export contract with respect to technologies that may be imported or exported without approval, the importer/exporter is required to first log onto the Information Administration System of Technology Import and Export Contracts (http:jsjckqy.fwmys.mofcom.gov.cn) to record the contract information online, and then submit an application to the competent authority for registration.

首先，《操作指引》变更了信托公司分配收益的规则。在《操作指引》发布前，信托公司通常按月计提业绩报酬，然后按季或按年分配。现在《操作指引》规定信托公司收取管理费和业绩报酬的方式和比例，须在信托文件中事先约定，且业绩报酬仅在信托计划终止且实现盈利时才可提取。就存续期较长的信托计划而言，对信托公司的业绩报酬恐有相当影响。

其次，《操作指引》增加了信托公司聘用第三方顾问的限制。根据《操作指引》，信托公司聘请的第三方顾问，应该符合一定的资质，包括必须是与信托公司没有关联的公司或合伙企业、实收资本金不低于人民币1000万元、有固定营业场所和相关的软硬件、有健全的业务管理与风控体系、和规范的后台管理制度及业务流程、具有证券投资管理和研究团队、团队主要成员通过证券从业资格考试且从业经验不少于三年并有投资管理业绩证明等。且聘请第三方顾问的费用，由信托公司从收取的管理费和业绩报酬中支付。

First, the Guidelines changed the rules for remunerations payable to trust companies.  Prior to the release of the Guidelines, in practice the performance bonuses for trust companies are often accrued on a monthly basis, and then actually distributed and paid quarterly or annually.  The Guidelines now require that the method and percentage of the management fees and performance bonuses payable to trust companies shall be mutually agreed upon in advance and specified in the relevant trust agreements, and that the performance bonuses may be collected only if the trust plan expires or is terminated and a profit is realized.  This may cause an impact on the trust companies’ performance bonuses, if the trust plan is of a longer duration.

Second, the Guidelines provide for limitations on retention by trust companies of third-party consultants. According to the Guidelines, a third-party consultant must  be a company or partnership unrelated to the trust companies, and must have, among others, (i) a paid-in registered capital of no less than RMB 10 million, (ii) a permanent establishment facility equipped with relevant software and hardwares, (iii) sound systems for business administration and risk management, (iii) standard mechanisms of back office management and business process flow, and (iv) team for management and research of securities investment, of which the major team members must have been qualified under the exams for securities investments, with experiences of no less than three years as supported by evidence of track record in securities investment management.  The Guidelines further require that the expenses for retaining the third-party consultants must be disbursed from the management fees and performance bonuses payable to the trust companies.

《刑法修正案（七）》在刑法第180条新增第4款规定，金融机构的从业人员以及有关监管部门或者行业协会的工作人员，利用因职务便利获取的内幕信息以外的其他未公开的信息，违反规定，从事与该信息相关的证券、期货交易活动，或者明示、暗示他人从事相关交易活动，情节严重的，依照内幕交易罪的规定处罚（视犯罪情节是否严重或特别严重而定，其处罚可以包括五年以下有期徒刑，或五年以上十年有期徒刑）。

其次，《刑法修正案（七）》将刑法第201条修改为纳税人有偷逃税行为的，经税务机关依法下达追缴通知后，补缴应纳税款，缴纳滞纳金，已受行政处罚的，不予追究刑事责任；但是，五年内因逃避缴纳税款受过刑事处罚或者被税务机关给予二次以上行政处罚的除外。

《刑法修正案（七）》在刑法增加第253条之一，国家机关或者金融、电信、交通、教育、医疗等单位的工作人员，违反国家规定，将本单位在履行职责或者提供服务过程中获得的公民个人信息，出售或者非法提供给他人，情节严重的，处三年以下有期徒刑或者拘役，并处或者单处罚金。

The Seventh Amendments added a fourth paragraph to Article 180, prescribing that any employee of financial institutions or associations for financial industries, or any official of financial regulators, shall be subject to punishment of insider trading, if a material violation is found that he/she used any undisclosed information available to him/her in the course of his/her employment or duty and then engaged in or caused (by expression or implication) other person to engage in any transaction in securities or futures related to such information.  The punishment will include a less-than-five-year or five-to-ten-year imprisonment, depending on the gravity of the violation.

Article 201, dealing with tax evasion, was revised by the Seventh Amendments to the effect that a taxpayer may be exonerated from criminal prosecution for tax evasion if he/she, after notice by the tax authority, made up the amount of tax evaded, paid the penalty and received the administrative sanctions by tax authorities, except where he has been subject to criminal punishment, or to administrative sanctions for twice or more, due to tax evasion in last five years.

Article 253-1 was added by the Seventh Amendments, prescribing that any official or employee of a government authority or a legal entity involving in financial, telecom, transportation, education or medical industries shall be subject to criminal punishment of up to three-year imprisonment or detention, if a material violation is found that he/she sold or unlawfully provided, in breach of applicable laws or regulations, to a third person any personal information of a citizen available to him/her in the course of performing his/her duty or delivering his/her services for the authority or entity.

在法律适用范围方面，《食品安全法》不仅涵盖食品、食品添加剂及食品相关产品（食品包装材料、洗涤剂、生产工具等）的生产、经营，并适用于食用农产品的质量安全标准制定及食用农产品安全相关信息的公布等方面。

其次，《食品安全法》要建立食品生产经营许可制度，凡从事食品生产、食品流通、餐饮服务的，应当依法取得相关许可（但在该法施行前已经取得相应的许可证的，该许可证继续有效），且食品的生产者和经营者在生产食品或采购食品、食品添加剂和食品相关的产品时，要查验供货者的许可证和产品合格证明文件，并建立进货查验记录与出厂查验记录，且至少保存二年。这一规定有利于建立责任追溯体系。

《食品安全法》并要求国务院卫生行政部门对现行的食用农产品质量安全标准、食品卫生标准、食品质量标准和有关食品的行业标准中强制执行的标准予以整合，统一制定、公布具有强制执行效力的食品安全国家标准。该等标准应当经食品安全国家标准审评委员会审查通过。凡食品不符合食品安全标准，应当立即停止生产和经营，食品生产者并应召回已经上市销售的食品，通知相关销售者及消费者，并对召回的食品采取补救、无害化处理、销毁等措施，并将召回和处理情况向县级以上质量监督部门报告。

《食品安全法》建立食品安全风险检测和评估制度，规定国务院卫生行政部门应会同其他有关部门制定、实施国家食品安全风险检测计划，对食源性疾病、食品污染以及食品中的有害因素进行检测。同时，国务院卫生行政部门牵头成立由有关专家组成的食品安全风险评估专家委员会，对食品、食品添加剂中生物学、化学系和物理性危害进行风险评估。该等评估同时也覆盖食用农产品的种植和养殖领域，体现出食品安全的源头管理。

在食品安全事故处置方面，《食品安全法》也规定国务院应组织制定国家食品安全事故应急预案，县级以上地方人民政府则应制定本行政区域的食品安全事故应急预案。同时对食品安全事故的应对及有关政府部门的相应职责做出具体规定。

在法律责任方面，《食品安全法》也加大了对违反本法的食品生产和经营者的惩罚力度，对生产不符合食品安全标准的食品或销售明知是不符合食品安全标准的食品，消费者除要求赔偿外，并可对生产者或销售者要求支付价款十倍的赔偿金。

In terms of the scope of its coverage, the Law applies not only to manufacture and business activities of food, food additives and food-related products (e.g., packaging materials, detergent, production tool), but also to the formation of the quality and safety standards and release of information with respect to edible agricultural products.

The Law adopts the permit system, under which relevant permits must be obtained for engaging in food manufacture or distribution, or in food-and-beverage services (provided, however, that all permits already obtained before the Law takes effect will remain effective).  When producing or purchasing any food, food additives or food-related products, manufacturers and operators of food products must verify the suppliers’ permits and evidentiary documents related to the conforming quality of these products, and must build up and maintain for two years or more the records of in-coming and out-going inspections.  Such requirements will clearly help tracing the source of liability, if arisen.

The Law further requires that the administrative authority for health under the State Council shall review and consolidate the existing standards for the quality and safety of edible agricultural products, and those for food hygiene and quality, as well as mandatory industrial standards related to food, in order to determine and promulgate mandatory national standards for food safety.  Such standards shall be reviewed and approved by the Review and Assessment Committee of the National Standards for Food Safety.  Any food not conforming to the safety standards must cease to be produced, sold or otherwise placed in the stream of commerce, and the food manufacturers must recall such non-conforming foods, inform vendors and consumers, and take remedial actions (e.g., destroying such foods or making them non-hazardous), report to the quality supervision department of the government at the county level or higher regarding the recall and remedial actions taken.

It is also required by the Law that a system be built up for risk examination, review and analysis for food safety.  In addition, the administrative authority for health under the State Council shall join forces with other relevant authorities working on promulgation and implementation of a national plan for risk examination of food safety, and shall launch examinations over food borne diseases, food contamination and adverse factors in food.  The administrative authority for health under the State Council shall lead the formation of an expert committee of risk assessment of food safety composed of experts from relevant fields.  This committee shall conduct the risk assessment of biologic, chemical and physical hazards embedded in food and food additives.  The assessment should also cover such fields as related to cultivation and breeding of edible agricultural products, so that the food safety issues may be managed and resolved from the source.

To prepare for any emergent incident related to food safety, the Law requires that the State Council shall draft and determine an action plan on a nation-wide basis in response to any food safety incident, and that the local government at the county level or higher shall draft and adopt an action plan to cope with any such incident occurred in its geographical jurisdiction.  The Law also sets out specific rules dealing with the responsive actions and duties of relevant government authorities when an incident occurs.

Lastly, severer punishments will be imposed on food manufacturers and operators, if they act in violation of the Law.  In addition to actual damages, consumers will be entitled to penalties equivalent to ten times the purchase price, if the manufacturer produced food not conforming to the safety standards or if the operator knowingly sold any such non-conforming food.