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    Shenzhen Government Lowers Average Salary Benchmark

    SHENZHEN, Jul. 23 – The Labor and Social Security Bureau has lowered the average pay scale in the city for the first time since 1999 in a salary reference document for employers released last Monday. According to Shenzhen Daily, the average salary in the city decreased by 3.8 percent to RMB2,750 per month compared to[…..]

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    Beijing Orders Banks To Increase Bad Debt Reserves

    Jul. 22 – The chairman of  China’s Banking Regulatory Commission (CBRC), Liu Mingkang, has told all mainland-based banks, and some overseas banks such as HSBC and Citigroup to increase their bad-debt loan reserves by 150 percent by the end of this year. That means that banks are now being required to be set aside an[…..]

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    China Briefing Books Now Downloadable in PDF

    Jul. 20 – The complete series of China Briefing’s popular legal, tax and regional guides are now available for purchase via PDF downloads here. Published since 2003 and regularly updated, available titles include guides to the legal procedures and investment implications of establishing Representative Offices, Wholly Foreign Owned Enterprises, Joint Ventures, Mergers & Acquisitions, Intellectual[…..]

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    Shenzhen Releases New Recognition Measures for High-Tech Enterprises

    SHENZHEN, Jul. 10 – The Shenzhen government released the Administrative Measures of Shenzhen for the Recognition of High and New Technology Enterprises earlier this month, laying out two sets of rules regarding the recognition of high-tech enterprises in the city. The measures listed the industries which qualify for high and new technology enterprise status, including[…..]

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    First Cross-Border Yuan Trade Settlement Deal Made

    Jul. 6 – The first cross-border yuan trade settlement deal came through today from the Bank of China (BOC), Hong Kong to Bank of China, Shanghai reports Xinhua. The deal is part of a pilot program announced by Beijing last April to ease  cross-border trade deals for Chinese importers and exporters in southern Guangzhou, Shenzhen,[…..]

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    WTO Complaints Filed Against Chinese Export Restrictions

    Jun. 24 – Two complaints were filed with the World Trade Organization (WTO)  regarding China’s export restrictions on raw materials, alleging that it gave an unfair advantage to local companies and violated international trade rules. The European Union and the United States submitted separate complaints on the same issue. Ironically, trade complaints against China usually[…..]

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    New Food Safety Law Effective this Month

    Jun. 4 – China’s new Food Safety Law China went into effect beginning this month. The law integrates stringent food safety standards to make supervision easier and will require new food licenses for businesses. Food suppliers who already obtained a food sanitation license prior to June 1 can still use the license until expiry date.[…..]

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    Shanghai to Subsidize More Environmentally Friendly Cars

    SHANGHAI, Jun. 1 – The local government is encouraging more people to replace their cars and trucks with more environment-friendly models by giving average subsidies of RMB5,000 starting today until April 30, 2010. The measure is part of the city’s efforts to ease pollution and help the local economy for the coming Shanghai 2010 World[…..]

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