Beijing, July 31 (Xinhua吴晓杰) The basis for mapping the ways to protect their funds? Chinese banks can open foreign institutions in the territory of the foreign exchange account? August 1 this year, come into operation on a number of new laws to make clear on these issues provisions.

Recently released by the State Council, "the basis of the Survey and Mapping Bill," August 1 will be formally implemented. The Ordinance provides the basis for mapping the results of countries regularly updated system. Of these, 1:100 million to the state's basic scale 1:5000 map, image maps and digital product is updated at least 5 years; natural disaster-prone areas, as well as the national economy, national defense and in urgent need of social development should be the basis for mapping the results to date. Ordinance or above the county level people's governments shall strengthen the leadership of the basis of survey and mapping work will be the basis for mapping into the level of national economic and social development plans and annual plans, the requirements included in the budget level. Ordinance, the people's governments at or above the county administrative departments of surveying and mapping should be based on response to natural disasters, emergencies and other needs, the development of surveying and mapping the basis of the corresponding contingency plan to protect.

In order to regulate the territory of foreign institutions to open foreign exchange accounts, the use of such acts, the prevention of financial risks, to further promote trade and investment facilitation, the State Administration of Foreign Exchange has recently issued the "outside agencies on the territory of the foreign exchange account management related issues," which the notice from August 1 into effect. The past, only foreign banks to foreign institutions to open foreign exchange accounts, and under the "notice", the Chinese-funded banks in the future to comply with the relevant provisions on the basis of foreign institutions can also open foreign exchange accounts. "Notice" to open an account also simplifies the audit procedures, relaxation of foreign exchange accounts of foreign institutions between and outside constraints.

State Administration of Taxation recently issued to the various emergency "on the strengthening of the management of liquor consumption tax notice", including "tax liquor excise tax minimum price approved by management (for trial implementation)", the notice on August 1 will be formally implemented. Previous liquor consumption tax charged at the standard, a major difference is the new standard is in accordance with the sales unit's sales price, rather than ex-factory price. The industry believes that this will effectively curb the use of liquor manufacturers association marketing company to avoid the production of means of transfer pricing aspects of the situation of the consumption tax.