Other Briefings
Shanghai to Begin RMB Settlement Trials
SHANGHAI, Jan. 24 – The local government said it is likely to participate in the second batch of yuan-settlement trials to deal with export slowdown and the instability of the U.S. dollar. Last December, the State Council announced it would use the Chinese currency yuan to settle trade payments in Guangdong province, the Yangtze River […]
China Industry Report: Jan 24
Jan. 24 – This is a regular series of relevant industry news from around China. Solar power Japanese solar modules maker Sun Dream Co. inked an agreement with Taiwanese Jumao Photonics Co. Under the terms of the contract Sun Dream will supply components to the Taiwanese company which will assembly the products and market them […]
Salary Reduction Under China’s Labor Law
By Chris Devonshire-Ellis Jan. 23 – With many businesses facing economic problems, the legal focus of business in China is shifting to an understanding of the implications of the new labor law, and specifically, its provisions for the reduction of staff salaries. The Labor Law is not specific on the reductions of salaries due to […]
China to Top Global GDP League in 2009
Jan. 23 – Our sister website, 2point6billion, has just run a piece on how Asian economies are likely to perform against those of the developed world this year. The recent news of the decline of China’s GDP to 9 percent for 2008, draws up interesting conclusions about the country. China needs to maintain a GDP […]
China in Asia: Jan. 23
Jan. 23 – Here is how China has been reported across the region over the past week. China & India – Complementary or Contrasting? One might assume that China and India are mirror images of each other. They have different systems of government, attitude to FDI and excel in contrary economic sectors. yet however the […]
China Releases New Business Tax Rule for Service Contracts
By Sabrina Zhang Jan. 22 – China’s State Administration of Tax (SAT) has passed a surprise amendment concerning the calculation of Business Tax (BT) effective January 1st. The new rule changes the BT levying principle and affects all overseas companies contracting labor and services to other companies or people based in China. The former BT […]
China’s GDP Grows by 9 Percent in 2008
Jan. 22 – China’s National Bureau of Statistics announced that gross domestic product (GDP) grew by 9 percent to RMB30.067 trillion in 2008. This is the first time since 2003 that China reported less than double-digit growth and is the slowest growth since 2001, when GDP rate was 8.3 percent. China’s exports have been pummeled […]
