Northeast China

Beijing Announces Wage Bases for 2011 Social Security Payments

May 23 – Based on Beijing’s average annual wage level RMB50,415 in 2010, the Beijing Municipal Bureau of Human Resources and Social Security announced the wage bases for distinct employees’ social security payment in 2011.

For urban employees

For those who pay for their social security based on last year’s average monthly wage in the city, their wage base for this year’s payment stands at RMB4,201; for those who pay for their social security based on 70 percent, 60 percent or 40 percent of last year’s average monthly wage in the city, their wage bases for this year’s payment vary correspondingly, to RMB2,941, RMB2,521, or RMB1,680 respectively. Continue reading →

Beijing Government Issues Circular on Collection of Union Fees

May 4 – The General Office of the People’s Government of Beijing Municipality has issued the “Circular on the Commencement of the Pilot Work with regard to the Collection of Union Contributions and Preparation Fees by the Beijing Local Tax Bureau (Jingzhengbanhan [2010] No. 34).”

According to the circular, starting from July 1, 2010, Beijing Municipality would begin pilot work on the collection of union contributions and preparation fees in the Xuanwu, Fengtai, and Changping districts. Continue reading →

Posted in Finance, Tax and Accounting, Legal and Regulatory, Northeast China, Regulatory Update | Leave a comment

China Law Deskbook – New Monthly Updates

Feb. 28 – The China Law Deskbook is published by the American Bar Association, and written by James Zimmerman, managing partner in Beijing with Squire Sanders Dempsey. It is the definitive bible on China law and should be on every in-house legal counsel desk concerned with business in China.

The book is now being augmented with a new monthly update “News and Views from Beijing.” Continue reading →

Posted in Finance, Tax and Accounting, Legal and Regulatory, Northeast China | Leave a comment

Dalian Sees Outsourcing Industry Boom

Feb. 28 – As one of China’s “21 outsourcing model cities,” Dalian’s software and service industry reported total sales revenues of US$8.1 billion and export revenues of US$1.8 billion last year, a respective 33.75 percent and 28.6 percent increase from a year earlier. The industry is also providing over 100,000 jobs in the northeastern Chinese city.

Statistics from the Dalian Foreign Trade and Economic Cooperation Bureau show that at the end of 2010, the amount of professional software and service outsourcing enterprises in the city hit 941, with 56 of them listed as Fortune 500 companies. The government is currently developing a software park in the Dalian High-tech Industrial Zone with the plan of reaching an output of US$15.2 billion and attracting a total investment of US$7.6 billion within the next five years. The software park alone is expected to provide over 200,000 working opportunities by 2015. Continue reading →

Posted in Northeast China, Technology | Leave a comment

China Allows Zhongguancun High-tech Enterprises to Take Enhanced Deductions for R&D Expenses

Jan. 17 – In order to promote the construction of the Zhongguancun National Innovation Demonstration Zone (NIDZ), a major technology hub in Beijing known as “China’s Silicon Valley,” China has issued pilot policies that allow high-and-new-technology enterprises (HNTEs) located in the zone to take an enhanced deduction for research and development (R&D) costs. Continue reading →

Posted in Legal and Regulatory, Northeast China, Technology | Leave a comment

Beijing to Get Third Commercial Airport by 2015

Jan. 11 – As China Briefing revealed back in June last year, Beijing is to have a third airport built at Daxing, to the south of the capital. The plan has been approved by the Central Government and is to be included as a key project in the forthcoming Five-Year-Plan due for release in March.

The new airport is expected to be completed in 2015 and will relieve existing pressure on Beijing’s Capital International Airport – currently the world’s second busiest airport behind Hartsfield-Jackson Atlanta International Airport with over 70 million passengers traveling through annually. The addition of the new air facilities as Daxing, combined with the massive Beijing Capital International Airport and the small Beijing Nanyuan Airport, brings a total of three commercial airports in Beijing. Continue reading →

Posted in Aviation, Culture and History, Economy and Politics, Northeast China | 1 Comment

Complimentary Reports Available from China Briefing

Dec. 24 – Over the past year we’ve released a number of complimentary reports. As its the festive season and we know our readers have been very good this year, we provide a one stop shop to each of them, complete with complimentary downloads just in case you missed them the first time around. They include reports on business in China, India, Vietnam, Russia and Emerging Asia, as well as industry guides, city guides, in-depth regional overviews in addition to tourism related material. We hope you enjoy them.

Happy New Year! Continue reading →

Posted in Business, Central China, Culture and History, East China, Economy and Politics, FDI and Foreign Trade, Finance, Tax and Accounting, Legal and Regulatory, Northeast China, South China, West China | 1 Comment

Hebei Province Urges More FDI Attraction

Dec. 21 – China’s Hebei Province, the northeastern coastal province that completely surrounds Beijing and Tianjin, has recently issued a new document that encourages the acceleration of foreign direct investment (FDI) into the region. The document promises the implementation of related fiscal measures, land use policies and favorable systems for FDI inducement in the next five years. Continue reading →

Posted in Business, FDI and Foreign Trade, Northeast China | Leave a comment