一周立法最新双语动态，我们来了! 第90期

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1.交通运输部：加强境外返回人员疫情防控和运输服务保障

3.证监会公布《上市公司创业投资基金股东减持股份的特别规定》

CSRC Releases Special Provisions on Shareholding Reduction by Venture Capital Fund Shareholders of Listed Companies

3月6日，证监会公布《上市公司创业投资基金股东减持股份的特别规定》（2020年修订），自2020年3月31日起施行。

On March 6, the China Securities Regulatory Commission released the Special Provisions on Shareholding Reduction by Venture Capital Fund Shareholders of Listed Companies (2020 Revision).

此次修订的主要内容包括六个方面：一是简化反向挂钩政策适用标准。仅要求申请反向挂钩的项目在投资时满足“投早”、“投中小”、“投高新”三者之一即可，并删除基金层面“对早期中小企业和高新技术企业的合计投资金额占比50%以上”的要求。二是取消大宗交易方式下减持受让方的锁定期限制。三是取消投资期限在五年以上的创业投资基金减持限制。四是合理调整投资期限计算方式。投资期限截至点由“发行申请材料受理日”修改为“发行人首次公开发行日”。五是允许私募股权投资基金参照适用反向挂钩政策。六是明确弄虚作假申请政策的法律责任。对于不符合条件但通过弄虚作假等手段申请适用反向挂钩政策的，中国证监会可以对其采取行政监管措施。

This Revision mainly concludes six aspects: The first aspect regards simplification of the standards for applying the reverse linking policy. Projects applying for reverse linking only need to meet one of the requirements of investing in early-stage and startup enterprises, investing in small and medium-sized enterprises or investing in new and high-tech enterprises, and for funds, the requirement that the total investment in small and medium-sized enterprises and new and high-tech enterprises at the early stage accounts for 50% or more is deleted. The second aspect regards cancellation of the lock-up period limit for transferees of the reduction under the bulk transaction mode. The third aspect regards cancellation of the restriction of five-year or longer investment term on the reduction of venture capital funds. The fourth aspect regards reasonable adjustment of the calculation method of investment term. The deadline for the investment term is changed from the date of acceptance of the application materials for the IPO to the date of the IPO. The fifth aspect regards the allowance of referred application of reverse linking policy to private equity investment. The sixth aspect regards clarification of legal liabilities for false application for policies. For those who do not meet the conditions but apply for the application of the reverse linking policy by means of falsification, the CSRC may take administrative regulatory measures.

4.《关于加快推进意外险改革的意见》发布

Opinions Released Regarding Accelerating Reform of Accident Insurance

2020年3月5日，银保监会发布《关于加快推进意外险改革的意见》，自发布之日起实施。

On March 5, 2020, the China Banking and Insurance Regulatory Commission issued the Opinions Regarding Accelerating Reform of Accident Insurance (hereinafter the ‘Opinions’).

《意见》强调，到2020年底，意外险费率市场化形成机制基本建立，发展环境持续优化，产品供给更加丰富。到2021年底，意外险费率市场化形成机制基本健全，标准化水平明显提升，市场格局更加规范有序，服务领域更加广泛，广大群众更加认可。

The Opinions emphasize that by the end of 2020, the marketization formation mechanism for accident insurance rates will be basically established, the development environment will continue to be optimized, and product supply will be more abundant. By the end of 2021, the marketization formation mechanism for accident insurance rates will be basically complete, the standardization level will be significantly improved, the market structure will be more standardized and orderly, the service area will be wider, and the general public will be more recognized.

《意见》明确了加快推进意外险改革的主要任务，并根据工作职责，将改革任务分解到银保监会机关有关部门和派出机构。一是推进市场化定价改革。主要包括健全意外险精算体系、建立产品价格回溯调整机制、编制意外险发生率表、大力推动产品自主创新等。二是强化市场行为监管。主要包括集中整治市场突出问题、健全市场行为监管制度、建立健全信息披露机制、加强反保险欺诈工作等。三是夯实发展根基。主要包括加强和改进监管、加快推进标准化建设、建立反保险欺诈长效协作机制等。

The Opinions specify the main tasks for accelerating the reform of accident insurance, and such reform tasks are assigned to relevant departments and agencies of the CBIRC according to the duty of work. The first clarification regards the promotion of market-based pricing reform. It mainly involves improving the actuarial system for accident insurance, establishing a retroactive adjustment mechanism for product prices, creating accident insurance rate tables, and vigorously promoting independent product innovation, among others. The second clarification regards the enhancement of supervision over market behaviour. It mainly involves centralized remediation of outstanding market problems, completing a supervision system of market behaviour, establishing and improving an information disclosure mechanism, and strengthening work against insurance fraud, among others. The third clarification regards consolidation of the foundation for development. It mainly involves strengthening and improving supervision, accelerating standardization establishment, establishing a long-term cooperation mechanism against insurance fraud, and so on.