Other Briefings
Hong Kong Incorporations for Mainland China Business
By Joe Sze HONG KONG, Jun. 11 – Multinational companies looking at the Mainland China market often look at tax efficient or other legal ways to prepare and protect themselves from directly triggering bilateral interactions between the mainland and the ultimate parent company. In such instances, Hong Kong incorporations are a useful tool to utilize […]
State Council Approves Shenzhen SEZ Expansion
Jun. 11 – The State Council has recently approved the application from the Guangdong provincial government, to expand the scope of the Shenzhen Special Economic Zone, effective July 1. Guohan [2010] No. 45, issued on June 8th, further expands the scope of the Shenzhen Special Economic Zone to the entire city, and also include Baoan […]
Conducting Due Diligence on Chinese Financial Statements
By Sabrina Zhang Jun. 10 – When it comes to conducting due diligence on Chinese financial statements, it is common to find that accounts have often been incorrectly prepared. In order to gain a better understanding of the value of the business, adjustments need to be made. In this article, we will focus on understanding […]
Shenzhen Raises Minimum Wage
Jun. 10 – The Shenzhen municipal government has raised the monthly minimum wage in the city to RMB1,100 effective from July 1. The notice, which was issued June 8 at the government executive meeting, standardizes the monthly minimum wage level across the city. The minimum monthly wage in Luohu, Futian, Yantian and Hanshan district has […]
Representative Office Regulations Limit Foreign Employees
By Sabrina Zhang and Richard Hoffmann Jun. 9 – China has made some fundamental changes to one of the oldest legal entities available to foreign investors on the mainland, the representative office. In addition to the new tax regulations concerning the operations of representative offices in China issued by the State Administration of Taxation on […]
Guangdong Gov’t Provides More favorable Conditions for FDI in Province
Jun. 8 – The Guangdong provincial government issued a notice on May 25 regarding the further use of foreign investment, with the aim to boost economic development and social stability in the province. Guofa [2010] No. 9 stipulates that the provincial government will provide a favorable investment environment for foreign enterprises, as well as broaden […]
State Council Notice Supporting Post-Earthquake Reconstruction in Yushu
Jun. 7 – The State Council issued a notice on May 31 regarding the supporting measures on post-earthquake reconstruction in Yushu, Qinghai Province, aiming to basically complete the main task of reconstruction in three years. The notice focuses on supporting policies relating to, “central government-based funding arrangements for post-earthquake relief and restoration,” “tax and financial […]
Mainland China and Hong Kong Sign 7th Supplement to CEPA
Jun. 3 – The China central government and the government of Hong Kong signed the 7th supplement to the Closer Economic Partnership Arrangement (CEPA) on May 27, in an effort to support Hong Kong firms with greater and easier access to the mainland market, in areas such as tourism, securities and banking services. Supplement VII […]
