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Real-time News
On September 4th, the State Administration for Market Regulation announced a pilot program for the metrological supervision of electronic price-computing scales in Hebei, Zhejiang, and Fujian provinces to crack down on short-weighting and cheating scales and protect consumers legitimate rights and interests. The program aims to explore replicable and scalable regulatory models and safeguard consumer fairness. The pilot program will refine regulatory measures across the entire chain of electronic price-computing scale production, sales, verification, maintenance, and use, building a comprehensive metrological supervision system. It will focus on collecting pilot practice data, identifying obstacles to policy implementation, and creating a practical paradigm for intelligent supervision of electronic price-computing scales.On September 4th, Premier Li Qiang signed a State Council decree promulgating the revised "Regulations on Emergency Response and Investigation of Power Safety Accidents," which will take effect on January 1, 2027. The regulations clarify that power companies and power users must obey unified dispatch, strictly implement relevant standards and technical specifications, strengthen the investigation of potential safety hazards, and that power dispatching agencies must strictly conduct power grid operation control in accordance with regulations. The regulations also adjust and improve the accident classification standards, taking into account factors such as changes in power grid scale and structure, the grid-connected performance of power generation equipment, and power grid operation control requirements. The regulations also extend the scope of application to entities other than power companies and power users connected to the power grid, clarifying their corresponding power safety responsibilities.On September 4th, the "Draft Measures for the Supervision and Administration of Private Investment Fund Raising (for Public Comment)" clarified that private fund raising includes the entire process, including investor suitability assessment and matching, product promotion, risk disclosure, confirmation of qualified investors, and signing of fund contracts, and standardized each stage. Secondly, it strengthens the suitability management and risk disclosure obligations of private fund managers and sales institutions, focusing on detailed regulations regarding the content, standards, and procedures of suitability assessments, as well as general and special risk disclosures, reinforcing the "sellers due diligence" requirement. Thirdly, it refines the requirements for fundraising documents, stipulating regulations for prospectuses and other promotional materials, risk disclosure statements, investor commitment letters, and fund contracts, clarifying the rights and obligations of the parties involved and dispute resolution requirements. Fourthly, it clarifies the requirements for audio and video recording of individual investors, strengthening the record-keeping arrangements for the fundraising process. However, considering the different risk identification and tolerance capabilities of individual investors, certain qualified individual investors may be exempted from relevant requirements through special risk disclosure.Sources say discussions about a U.S. negotiators trip to Ukraine are still ongoing, with both teams having mentioned September 6 as a possible date.On September 4th, it was reported that the "Fundraising Measures," comprising seven chapters and forty-five articles, mainly include: 1. Clarifying the basic principle of "sellers fulfilling their responsibilities and buyers bearing their own risks," specifying fundraising methods, and detailing prohibited behaviors. 2. Improving the criteria for identifying qualified investors, including asset size, income level, and investment experience, and strengthening the requirements for transparent supervision. 3. Clarifying the fundraising process, fundraising documents, and regulatory requirements, and reinforcing the suitability management and risk disclosure obligations of private fund managers and private fund sales institutions. 4. Improving the mechanism for ensuring the safety of raised funds, clarifying the requirements for dedicated fundraising settlement accounts and fundraising settlement fund supervision institutions, and strengthening the requirements for the construction of internal control systems for private fund managers. 5. Clarifying supervision, management, and legal responsibilities.
