A new set of rules addressing various aspects of daily life, from prepaid fees at elderly care institutions to improvements of central kitchens, will take effect in China this October.

To safeguard the financial security of the elderly, a new regulation on strengthening the monitoring of prepaid fees at elderly care institutions will take effect on Oct. 1.

The regulation stipulates that the maximum prepayment period for elderly care service fees cannot exceed 12 months, and the deposit charged to an individual must not exceed 12 times their monthly bed fee.

Elderly care institutions are prohibited from enticing seniors or their representatives to make prepayments by promising the return of both principal and interest or any other investment gains, according to this new regulation.

In terms of food safety, two rules targeting the construction and operation of central kitchens — the country’s first set of recommended national standards in this regard — will take effect on Tuesday.

These two regulations
include requirements for site selection, overall layout, facilities, equipment, operational processes, safety and traceability, as well as emergency response and recall procedures for central kitchens. They aim to guide the construction, scientific investment and operational management of such kitchens.

To ensure the stability and fairness of the securities market, the new regulation set also includes a document addressing programmatic trading. Such activities should not compromise the security of stock exchange systems or disrupt the normal trading order, according to the regulation.

Next month will also see the implementation of newly revised regulations concerning pensions and preferential treatment for servicemen.

According to this regulation effective Oct. 1, preferential treatments concerning social security, basic public services and other benefits will be provided to eligible groups.

The regulation also streamlines the procedures for pensions and preferential treatments, clarifying the process for
disbursing one-time compensation and safeguarding the legal rights and interests of beneficiaries.

Source: The Namibia News Agency