Other Briefings
CEPA VI Continues Economic Liberalization between Hong Kong and the Mainland
By Joyce Roque HONG KONG, May 20 – Officials from the Chinese mainland and Hong Kong signed the latest supplement to the Closer Economic Partnership Arrangement (CEPA) last May 9 to further ease economic activities between the two. The agreement is set to take effect on October 1, 2009. CEPA VI’s measures aims to improve […]
Hong Kong Extends Online Filing of Tax Returns
HONG KONG, May 19 – Hong Kong’s Inland Revenue Department (IRD) has extended the online filing of tax returns to June 4 to encourage more people to use the service. “As a one-month period is allowed for filing individual tax returns, the deadline falls on June 4 this year,” the Commissioner of Inland Revenue, Alice […]
Hong Kong Clarifies Rule on Double Tax Relief
HONG KONG, May 18 – The Hong Kong Inland Revenue Department has released details on Departmental Interpretation and Practice Notes No.45- “Relief from Double Taxation due to Transfer Pricing or Profit Reallocation Adjustments” (DIPN45) last April 30. The DIPN45 clarifies the procedure for companies wanting to seek double tax relief for transfer pricing or profit […]
Hangzhou Promises Clampdown on Illegal Software for Microsoft
May 18 – China’s east coast city of Hangzhou has promised to step-up enforcement of anti-piracy laws in exchange for investments from Microsoft. The city has laid out specific targets for enforcement and will encourage local companies to use legitimate programs. Microsoft’s investment plans in the city include two new technology centers that should make […]
China Cuts Industrial Land Prices by 30 Percent
May 15 – The Ministry of Land and Resources is discounting the minimum purchase price of land for use in agriculture, forestry, animal husbandry and aquatic products by 30 percent to encourage more investment. The announcement made last Wednesday did not specify when the cut will begin. According to a ministry statement, the move would […]
Foreign Banks Post Profits Despite Industry Constraints
May 14 – Despite China’s constraints on its banking and financial industry, foreign banks reported robust profits from its business coming from the mainland; providing a respite from troubled U.S. markets. For HSBC Holdings PLC, mainland China was its fourth most profitable market last year at US$353 million in pretax profits an increase of 137 […]
Plans to Allow Foreign Companies to List in Shanghai Stock Exchange Underway
SHANGHAI, May 13 – Plans to allow foreign companies to list on the Shanghai Stock Exchange have already begun as well as the development of an international board. The local government has concluded an agreement with Britain that aims to improve the stock market. In a press statement of the agreement: “China agrees to allow […]
China Industry: May 13
May 13 – This is a regular series of relevant industry news from around China. Solar power Wang Zhongying, assistant director of the Energy Research Institute of the National Development and Reform Commission, said that China plans to boost its solar power capacity to 10–20 GW by 2020. Initially, the country planned to have 300 […]
