By Helen Liu July 25 – Due to RMB appreciation as well as the large amounts of hot money illegally flowing into China, the State Administration of Foreign Exchange has released new regulations to further control the movement of foreign exchange. The regulations, released on July 2, 2008, will seriously affect businesses cash flow in[…..]
July 25 – In November 2007, the Ministry of Finance and the China Appraisal Society jointly announced an asset appraisal standards system, comprising 15 appraisal standards. The standards system comprises two parts: professional ethics standards and business standards. The business standards are classified into four categories: basic standards, detailed standards, valuation guidelines, and guiding opinions.
July 8 – Over the last two months, China has tightened up its visa policies, drawing widespread concern from the business communities across China and in Hong Kong. Tourist visas now require round-trip air bookings and confirmed reservations at hotels in the destination city, students are having trouble obtaining visas to study in Beijing, and[…..]
July 4 – China is implanting a new system to control the inflow of speculative funds from abroad. The rules state that starting from July 14, it will be mandatory for companies to provide evidence to the State Administration of Foreign Exchange for verification. Exporters will be required to park their export receipts in temporary[…..]
July 1 – Metcalf & Q, the legal search practice, has just produced its annual guide to the best foreign law firms in Beijing. The firm interviewed over 100 lawyers in foreign firms in Beijing, asking them about their current practice, and the firms they would or would not like to work for. Metcalf &[…..]
By Dezan Shira & Associates June 17 – With the adjustment of China’s corporate tax base six months ago to a universal rate of 25 percent for all businesses, barring a few exceptions for encouraged industries, and the abolition of the profits tax breaks of manufacturing industries, many now mourn the passing of the “good[…..]
Visitors and expatriates must complete full police registration procedures beginning July 1 June 5 – The Public Security Bureau issued new guidelines today to hotels and apartment management companies concerning the registration of foreigners in China, set to take effect July 1. The PSB, a part of China’s domestic police force charged with policing public[…..]
June 2 – Chinese authorities are set to open the sluice gates of the country’s securities industry so that foreign companies can raise capital and list on the Shanghai stock exchange. They also plan to allow local companies to scout globally for raising funds and listing in foreign stock exchanges, the Times of India reported.[…..]