China Releases New Regulations for Foreign Investment
BEIJING, Apr. 14 – China’s State Council released new foreign investment regulations on Tuesday, aiming to both promote a good business climate while also cutting funds to projects which harm the environment. The new policies will continue to support Chinese A-share listed companies in promoting domestic and foreign investment. The guidelines will also standardize foreign […]
Shanghai Plans Property Tax to Curb Housing Prices
SHANGHAI, Apr. 12 – The city government of Shanghai may impose a property tax on investors owning multiple properties, aiming to curb price gains and moderate the housing market. The government has already completed the basic outline of the property tax, which targets speculative investors owning more than one property for capital appreciation, together with […]
Derivatives Trading may Make China Busiest Futures Market
Apr. 12 – China’s increased trading in equities from index futures may help China to surpass the United States as the world’s busiest stock market. According to the China Financial Futures Exchange, China will start trading of contracts based on the CSI 300 Index on April 16, tracking the 300 biggest stocks on the Shanghai […]
Notice on Refund Policy of General Small Trade across Border Areas
Apr. 8 – China’s State Council, Ministry of Commerce, General Administration of Customs, and State Administration of Foreign Exchange jointly issued a notice effective March 1 regarding the refund policy for general small trade which is conducted in RMB across border areas. According to the notice, the existing refund policy in Yunnan is now extended […]
Annual Audits for ROs Not Required in Zhuhai
Apr. 6 – The Zhuhai tax bureau does not require representative offices to undergo an annual audit for tax clearance purposes. As a result of this lack of an audit requirement, ROs in Zhuhai are able to conduct annual tax clearance without an audit report. This regulation in Zhuhai appears to be unique in China. […]
New Regulations for VAT General Taxpayers
Apr. 2 – To help manage the qualification of general taxpayers status for the payment of value-added taxes, the State Administration of Taxation recently issued a new management approach effective March 20, 2010. It stipulates that if VAT taxpayers’ annual taxable sales pass the level of the small-scale taxpayer set by the Ministry of Finance, […]
Shanghai to Raise Minimum Wage Levels and Social Benefits from April 1
SHANGHAI, Mar. 31 – The Shanghai municipal government is raising monthly minimum wage levels from RMB960 to RMB1,120 effective from April 1, 2010. The Shanghai Municipal Human Resources and Social Security Bureau released a circular on March 28 adjusting the minimum wage standards in the city while also stipulating that social security fees, housing funds, […]
Tax Exemptions for Foreign-Funded R&D Centers in China Clarified
Mar. 30 – China’s Ministry of Commerce, Ministry of Finance, General Administration of Customs and State Administration of Taxation jointly issued a circular on March 22 clarifying tax exemptions and refunds for foreign-invested research centers purchasing equipment in China. The circular defines the relevant items related to import duty exemptions for foreign-invested research centers importing […]