China has published new rules on related parties and transfer pricing documentation
Effective date of new rules
The new rules (SAT  No. 42) shall come into operation for tax year commencing from 1st January 2016.
Cessation of Old rules
At the same time, the old rules for the annual reporting for related part and related party transactions (SAT  No. 114) shall be repealed. Parts of the Implementation Rules of Special Tax Adjustments (Trial Run) (SAT  No. 2) in respect of the reporting for related party transactions shall also be repealed.
High lights of the new rules
Multinational corporations, the ultimate holding company of which are tax resident of China and whose annual income in the consolidated financial statements of the preceding tax year exceeds 5.5 billion, shall submit the country-by-country report to the Chinese tax authorities.
The announcement contains 27 provisions and defines the related enterprises and related transactions for the purpose of the announcement.
See legal texts in Chinese [Read]