Other Briefings
Hong Kong, Mainland Businesses to Use Yuan for Trade Settlement
Jun. 30 – Hong Kong businesses will soon be able to settle international trade in yuan with companies in Guangzhou, Shenzhen, Shanghai, Dongguan and Zhuhai starting next month. The agreement was formalized last Monday by Hong Kong Monetary Authority Chief Executive Joseph Yam and the People’s Bank of China Governor Zhou Xiaochuan. During the press […]
Pepsi Opens its First Overseas “Green” Plant in Chongqing
Jun. 29 – Major beverage and food company, PepsiCo, has opened a “green” plant located in Chongqing city, the first in five new manufacturing plants slated for the next two years. The new plant is the company’s first “green” beverage plant abroad and the first of its kind in the country. PepsiCo is committing US$1 […]
Shanghai to Offer Perks for Expat Finance Professionals
SHANGHAI, Jun. 26 – The local government is set to launch a program that will give foreign finance specialists incentives to work in Shanghai including lowered taxes, reports Shanghai Daily. The financial talent award is just one of the government’s policies aimed at turning Shanghai into an international financial and shipping hub by 2020 “We […]
Around Asia: Jun. 24
Jun. 24 – A weekly look at important regional news. India to Develop Investment Regions for Petroleum and Chemical Industries The government of India is implementing more initiatives to attract more foreign direct investment in its petroleum, chemicals and petrochemical sectors by establishing specific investment regions for this. (India Briefing) Telecom Market to Open in […]
WTO Complaints Filed Against Chinese Export Restrictions
Jun. 24 – Two complaints were filed with the World Trade Organization (WTO) regarding China’s export restrictions on raw materials, alleging that it gave an unfair advantage to local companies and violated international trade rules. The European Union and the United States submitted separate complaints on the same issue. Ironically, trade complaints against China usually […]
China Industry: Jun. 24
Jun. 24 – This is a regular series of relevant industry news from around China. Solar power Nanjing-based solar cells manufacturer China Sunergy said it had entered into a 53 MW sales framework agreement with solar modules manufacturer Renergies Italia. Under the non-binding framework agreement, 53 MW of solar cells manufactured by China Sunergy may […]
More Export Tax Cuts Announced for Next Month
Jun. 23 – China will implement more tax cuts next month to help the struggling export market. The substantial cuts will cover around 100 categories of goods that include fertilizers and agricultural products. One example of a deep tax cut is the discount on phosphate fertilizer now set at 10 percent from the previous 75 […]
Higher Tobacco Taxes Imposed
Jun. 22 – China’s Ministry of Finance and the State Administration of Taxation (SAT) has announced higher taxes on tobacco products to increase state revenue. Cigarette cartons that cost RMB70 or more will be taxed from 45 percent to 56 percent while cartons costing less than below RMB70 will be taxed from 30 percent to […]
