88 laws, regulations take effect

From Xinhua: “Eighty-eight new laws and regulations take effect on the first day of the New Year that cover a wide range of areas including foreign trade, taxation, advertising standards and supervision of the military, Xinhua News Agency reports.

As part of China’s accession to the World Trade Organization (WTO), seven laws and regulations took effect on January 1 that lift some restrictions on auto imports and foreign participation in gasoline sales, auctions and insurance, Xinhua said.

The new laws will formally cancel China’s auto import quota and allow private and foreign companies to set up petrol stations in China in accordance with China’s WTO accession commitments, it said.”

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