Mar. 2 – China Briefing has partnered with China Daily and the market research firms All China Marketing Research and IBISWorld to provide a series of industry reports covering a number of sectors
Written by dedicated researchers from China Daily and ACMR-IBISWorld, these reports are listed on the Asia Briefing Bookstore and include the following titles:
China Daily
AutoChina
China Banking
China Energy Continue reading
HONG KONG, Feb. 24 – As the region slowly recovers from the effects of the financial crisis, some business may still be struggling to manage their cash flow.
Hong Kong’s Inland Revenue Department allows payment of taxes by installment for taxpayers having financial difficulties. Taxpayers will need to submit an installment application to the agency and if approved a surcharge not exceeding 5 percent of the outstanding amount will be imposed. Continue reading
BEIJING, Feb. 23 – The State Administration for Industry and Commerce is expected to release new regulations for major online stores next month that will require them to apply for a business license and pay taxes.
Small online sellers, which comprise of majority of all internet sellers, will not be required to subscribe to the same rules. The agency has been working on a draft of the rules since July last year. Continue reading
Jan. 5 – The General Administration of Press and Publication (GAPP) is set to issue guidelines to encourage more private companies to enter the publishing industry.
Xinhua reports that private companies will be allowed to publish books on science and technology, finance and economy, supplementary materials to textbooks, music and arts, and children’s books. Companies can provide content in cooperation or being a unit of state-run publishers. Continue reading
Dec. 16 – Hong Kong and mainland Chinese credit cards users risk jail time should they default on credit card debts three months after receiving a second warning notice, reports the South China Morning Post.
Penalties for Hong Kong residents using cards issued by mainland banks will depend on whether the card was issued in the mainland or Hong Kong, and the liability specified in the contract. Users in China are subject to law that specifies “malicious overdraft” as a criminal offense. Continue reading
Dec. 16 – The Ministry of Finance has announced that it would temporarily charge low import tariffs for more than 600 commodities beginning next year.
The scope will include natural resource products, key components for optic communications, public health products, consumer products and advanced machines. High export tariffs will still apply to energy-intensive and resource products like crude oil, rare earths, pulp and billet. Continue reading
Dec. 15 – The Monetary Authority of Macau and the People’s Bank of China have signed a deal for a cross-border trade renminbi settlement program that will increase the amount of renminbi Macau residents can buy.
Macau residents will now be able to purchase up to RMB20,000 per transaction compared to RMB14,000 previously. The agreement also makes it easier for Macau residents to settle business in Guangdong Province by allowing renminbi cheques of as high as RMB50,000 per account per diem to pay for consumer purchases reports Shanghai Daily. Continue reading
Dec. 14 – The Shanghai Tourism Bureau has released new regulations concerning the advertising activities of travel agencies.
The regulations state that travel agencies will be barred from publishing tourism advertisements that go beyond the approved scope of the industry. Moreover, prices quoted in the advertisements shall be the total amount collected by travel agencies, including customer payments for all expenses incurred to avoid misleading tourists. Continue reading
Dezan Shira & Associates provide a range of services for companies looking to undertake foreign direct investment into Asia, These include corporate establishment, accounting, tax, payroll, audit and due diligence. To learn more about the firm, please contact one of our specialists at china@dezshira.com, download our corporate brochure or visit at us www.dezshira.com
ENG
ESP
FR
DE
IT
