5 new policies that could be affecting you this month
Print Edition
From May this year, a number of new policies have come into effect. Let’s take a look at some of them.
Deposit insurance
A long-expected deposit insurance policy came into effect on May 1 with a maximum compensation of 500,000 yuan (US$ 80,564). People’s Bank of China’s data indicate that the compensation can fully protect the deposits of 99.63 percent of depositors. The core of the insurance scheme is compulsory insurance. The insurance’s premiums are paid by banks instead of depositors. Business insiders said the insurance scheme is a pre-emptive protection and guarantee.
Guide dogs
From May 1, railway authorities will allow visually impaired people to take their guide dogs with them on the train. However applications for boarding with guide dogs should be made 12 hours before departure at ticket offices or via Shanghai Railway Bureau service hotline 12306.
Tourist behavior
New policies adopted by the Chinese National Tourism Administration mean that tour guides can report tourists via tourist agencies of behaviors deemed unacceptable or breaking the law.
The authorities will include offending tourists on a blacklist which could affect their future travel plans.
Weather forecasts
From May 1, a new weather forecasts regulation is enacted, and any weather forecasts not from meteorological stations are banned. Anyone publishing illegal weather forecasts will be given warnings and can be fined up to 50,000 yuan.
Funds withdrawal
From May 1, workers in Shanghai who have fully contributed to accumulation funds for a consecutive three months can withdraw both spouses’ housing accumulation funds to pay rent.
In addition, the withdrawal quota for accumulation funds has been adjusted to an upper limit of 2,000 yuan.
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