Legal & Regulatory

Clarifying 2010 Employment Contracts

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By Adam Livermore Jan. 11 – There has been a great deal of misinformation and misunderstanding of China’s labor laws. However, the Chinese labor contract law is quite clear about the issue above concerning treatment of employees during the probation period, nevertheless it remains just one of several widely-held misunderstandings relating to employment relationships in […]

New Issue of China Briefing Magazine: Preparing for Annual Audits in China

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Jan. 7 – The January/February issue of China Briefing magazine is out now and available for download (click on the image – complimentary subscription required). It’s annual audit season in China, a time when companies take stock of their business on the mainland, prepare annual corporate income tax filings, and review any outstanding issues that […]

China May Expand Pilot Property Tax Program Nationwide

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Jan. 6 – China may implement a pilot property tax program nationwide reports Shanghai Securities News. Morgan Stanley said that China may levy a tax on commercial real estate in “selective regions” before applying a levy on residences in an effort to temper the heated property market. It will take some time before the pilot […]

China Passes Tort Liability Law

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Dec. 28 – China passed a tort liability law on December 26, regulating liability and compensation for injuries caused by defective products, unruly animals and collapsing buildings. The Tort Liability Law of the People’s Republic of China, passed during the 12th Session of the Standing Committee of the 11th National People’s Congress, states that project […]

China to Maintain Export Tax Rebates in 2010

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BEIJING, Dec. 23 – China announced on Tuesday that it would maintain its export stimulus measures such as export tax rebates in 2010. The Ministry of Commerce stated that many problems remain and that it would be difficult for external demand to return to pre-crisis levels without continued government intervention. “Practice has proved that the […]

China Customs Releases 31 Standards for Unit Consumption in Processing Trade

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Dec. 22 – China’s General Administration of Customs and the National Development and Reform Commission jointly released a notice on December 10, approving 31 standards for unit consumption in processing trade for 2010. The new standards for unit consumption in processing trade, which are scheduled to be carried out on January 12, 2010, include the […]

U.S. Congress Looks to Revise SOX Legislation

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By Hank Bourg Dec. 17 – The U.S. House of Representatives last Friday passed sweeping legislation that tightens government regulation of the financial markets in the U.S. including addressing predatory lending practices and unregulated financial derivatives. Nestled in the various sections of the act, titled “The Wall Street Reform and Consumer Protection Act,” is an […]

Mainland, Hong Kong Credit Card Defaulters Risk Jail

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Dec. 16 – Hong Kong and mainland Chinese credit cards users risk jail time should they default on credit card debts three months after receiving a second warning notice, reports the South China Morning Post. Penalties for Hong Kong residents using cards issued by mainland banks will depend on whether the card was issued in […]

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