Other Briefings
CIRC Clarifies Local Insurance Clauses and Premiums for Property Insurance Companies
Sept. 1 – China’s insurance regulator recently clarified several issues regarding local insurance clauses and premiums related to property insurance companies. The China Insurance Regulatory Commission issued Baojiantingfa [2010] No. 61 on August 3, stipulating that all insurance companies will sort local insurance clauses and premiums, which were submitted to the local branches of the […]
New Issue of China Briefing: Employment Overheads in China’s Social Security System
Sept. 1 – In the September issue of China Briefing we look at China’s social security regime and the five social insurance funds that enterprises in China must contribute to: pension, medical insurance, unemployment insurance, maternity insurance, and occupational injury insurance. We also look at the housing fund, another mandatory fund that both employers and […]
Expatriates Working in China with Criminal Records
Op-Ed Commentary: Chris Devonshire-Ellis and Richard Hoffmann Aug. 27 – A recurring theme over the past two years for expatriates wanting to be based in China is the subject of possessing a criminal record. These may of course be for relatively minor offenses; however China’s policy in this regard can be strict. A standard requirement […]
Guangdong Gov’t Accelerates Financial High-tech Service Industry
Aug. 26 – The Guangdong provincial government approved a plan to create a new financial services investment park last week aimed at accelerating the financial high-tech service industry in the province. According to the plan issued on August 17, the government will build a financial services industrial park that will feature R&D centers, data processing […]
Pilot Program Allows Enterprises to Deposit Export Revenues Overseas
Aug. 25 – The State Administration of Foreign Exchange is now allowing certain regions to deposit export revenues overseas, with the aim of improving the efficiency of fund use by domestic enterprises. Huifa [2010] No. 44, issued on August 19, stipulates that starting from October 1, 2010, Beijing, Guangzhou (including Shenzhen), Shandong (including Qingdao), and […]
CBRC Releases Regulation on Financial Cooperation Business
Aug. 24 – China Banking Regulatory Commission recently released a regulation on financial cooperation business, aiming to better regulate banking credit and financial cooperation. Yinjianfa [2010] No. 72, issued on August 10, states that the CBRC should further regulate the financing of bank credit and financial cooperative business in fund companies. Specifically, the balance of […]
China Encourages Further Use of Foreign Capital
Aug. 23 – China’s State Council has recently approved proposals aimed at further liberalizing the use of foreign capital. Guobanhan [2010] No. 128, issued on August 18, states that China should optimize the structure of foreign capital. On one hand, China will encourage foreign investors to invest in industries such as high-end manufacturing, high-tech, modern […]
China’s Central Bank May Allow Further Foreign Investment in Local Markets
Aug. 20 – The People’s Bank of China issued a new circular on Tuesday allowing overseas RMB settlement banks and other institutions to enter the domestic interbank bond market in a pilot program targeting increased foreign investment. The circular also clarifies the specific ways in which overseas institutions can engage in bond investments in the […]
