Apparently it hasn't come to effect yet, yet to be announced. And the 'clear list' or positive list - bal bkl and a2m will be included in it, will be exempt from the new tax( assuming if it's approved). And if it does, the 1 year period finishes on may 11 2017. ( no idea how the hell is that 1 year when the exemption hasn't come to effect).
Those are the main points. And after reading it, it seems like Chinese government are giving time to businesses to adapt the implementation.
I got the conclusion from the very last part saying it is yet to be approved. As they say 'before this gets approval, please follow the procedure -manually.
This is simply a request to amend the rule. Hence the 'do it manually'. Since if this comes fully in effect, doing everything electronically will be effective and faster. So I'd say it gives businesses to adapt the implementation, and Chinese government to develop the system to do it electronically
BAL Price at posting:
$11.02 Sentiment: Buy Disclosure: Held
