What Cos. Need To Know About China’s New Market Regulator
Law360 (April 12, 2018, 1:06 PM EDT) -- On March 17, China’s highest legislative body, the National People’s Congress, approved a sweeping government restructuring plan. This is generally considered to be the most comprehensive government restructuring that China has undertaken since the country implemented its “Open Door” policy in the late 1970s.
As part of the new plan, China has established a State Market Regulatory Administration (SMRA), which will merge and undertake the responsibilities previously held by the State Administration for Industry and Commerce (SAIC), the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ), the Certification and Accreditation Administration (CAC), the Standardization Administration of China (SAC) and the...
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