Economy & Trade

Asia Investment Brief: Payroll in Singapore, Filing GST Returns in India, and Vietnam-US Trade

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Our weekly round up of other news affecting foreign investors throughout Asia:

ASEAN BRIEFING

Salary, Individual Income Tax, and Social Security in Singapore

It is important for companies operating and hiring employees in Singapore to understand the key elements of the country’s payroll process and stay updated on the latest regulatory changes when computing salary and social security contributions.

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Filing GST Returns in India

The GST gets rolled-out on July 1, and will replace India’s current system of indirect tax. In this article, we provide a brief description of the types of returns that will need to be filed once the goods and services tax is launched, and the various categories of tax payers recognized by the GST system.

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China Market Watch: US Beef Export Rules Finalized, Panama Establishes Diplomatic Ties with Beijing

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Alibaba to launch Tmall World, entering Southeast Asian markets

China’s e-commerce giant Alibaba will launch a new brand, Tmall World, which will provide a platform for China-based exporters to direct their products to markets in Hong Kong, Taiwan, Singapore, and Malaysia, among others.

Export-based manufacturers have been calling for new channels through which to sell their products, as traditional trade has slowed.

Chinese products that meet certain standards and certification will be able to use the platform to gain access to overseas markets.

Alibaba already has its Tmall Global brand, which allows foreign merchants to sell directly to the Chinese market, while domestic exporters do not have the same means to export to other Asian markets. They do this through either Aliexpress, or Lazada, both owned by Alibaba.

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Asia Investment Brief: Import-Export in Malaysia, Beef Ban in India, and Social Insurance Updates in Vietnam

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Our weekly round up of other news affecting foreign investors throughout Asia:

ASEAN BRIEFING

Import and Export Procedures in Malaysia – Best Practices

Malaysia continues to liberalize its import and export regulations; but, complex goods-specific rules still exist. In this article, we explain best practices for importing into and exporting out of Malaysia.

INDIA BRIEFING

India’s ‘Beef Ban’: Repercussions for Meat, Leather, and Dairy Industries

The Indian federal government’s new ‘beef ban’ is producing anxiety in three large industries: meat, leather, and dairy. In this article, we explain the new Livestock Market Rules, 2017 and its repercussions for the industries that rely on buffalo.

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Xi Offers Free Trade to Shanghai Cooperation Organization Members

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By Dezan Shira & Associates

Chinese President Xi Jinping has taken the remarkable step of offering free trade with China to members of the Shanghai Cooperation Organization (SCO).

Speaking at the SCO meetings in Astana, Kazakhstan on Friday June 9, Xi said, “We could begin signing agreement on trade facilitation with SCO. We speak in favor of opening cross-border routes in time set by the governments of the SCO member states”.

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Asia Investment Brief: Import-Export in Myanmar, Chinese Investment in Digital India, and e-Commerce in Vietnam

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Our weekly round up of other news affecting foreign investors throughout Asia:

ASEAN BRIEFING

Import and Export Procedures in Myanmar: Best Practices

As Myanmar continues to liberalize its regulatory landscape, new opportunities are emerging for cross-border trade. In this article, we explain best practices for importing into and exporting out of the country.

INDIA BRIEFING

Chinese Investment into Digital India Confirms Key Market Dynamics

Chinese firms are investing an unprecedented amount of money into India’s digital startups. In this article, we explain how Chinese investors are adapting the China plus one model for Digital India.

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The NEEQ: A Stock Market for SMEs in China

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By Jake Liddle

As of this year, the total number of companies listed on the National Equities Exchange and Quotation (NEEQ) surpassed 11,200, with a turnover of RMB 3.44 billion (US$505.88 million). This marks a boom in number of listed companies over the last few years. But what is behind this growth?

The NEEQ is an over-the-counter (OTC) national securities trading market, providing an alternative finance method to list for Chinese small and medium size enterprises (SMEs) who cannot list on the Main Board market. It is essentially a pre-listing, or startup exchange, that has less stringent and lower capital threshold requirements for listing.

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China Market Watch: Conflicting Manufacturing Indexes, Aircraft Needed for Outbound Tourism Boom

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China in need of 3,200 more aircraft as outbound tourism booms

China’s National Tourism Administration has estimated that China will have 200 million outbound tourists by 2020, after having already become the world’s largest source of outbound tourists in 2012.

This means that China will offer many long term growth opportunities for both domestic and international airlines, as well as aircraft engineering and manufacturing.

A report published by the international aircraft leasing company Avolon estimates that China will require another 3,200 aircraft to keep up with the growth of outbound tourists over the next 10 years. Over half of these aircraft have not yet been ordered.

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Asia Investment Brief: Terminating an Employee in India, Establishment Options in Russia, and Hospitality in Vietnam

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Our weekly round up of other news affecting foreign investors throughout Asia:

ASEAN BRIEFING

Thailand’s Automotive Industry Going Green

The Thai government is planning to launch a roadmap for the development of the electric vehicle industry in the country. Tax and other incentives for private sector investments and collaboration from the Federation of Thai Industries (FTI) are among the measures announced to boost the sector in the coming months.

INDIA BRIEFING

Due Process in Terminating an Employee in India

Foreign companies with a firm grasp of HR procedures in their home country may find that their established practices have little bearing in India. In this article, we cover the legal compliance provisions and termination procedures employers must observe when terminating employees in India.

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