Other Briefings
Chief Representative Signatures an Important Issue When Closing an RO
Dec. 2 – While closing a representative office in China can seem very straight forward, the administrative paperwork that is required can often seem tedious and time consuming. In addition, the time that is often needed to close an office often means that the chief representative has long left the company. Before this happens, it […]
New Issue of China Briefing: Managing Your Human Capital
Dec. 1 – The December issue of China Briefing magazine is out now and available for download (click on the image – complimentary subscription required). In this issue, we take a look at human resources and how foreign-invested companies in China can better manage them. Hiring and retaining competent and efficient staff is one of […]
Dezan Shira Awarded Most Active Firm at Milan’s China Awards
Dec. 1 – Dezan Shira & Associates was awarded the Lombard Elite prize for most active professional firm on the Chinese market at the fourth annual China Awards in Milan on November 25. The awards, organized by Fondazione Italia Cina and Milano Finanza and supported by the Italian Ministry for the Economic Development and the […]
China Releases Measures on Examination Hearings for Business Operators
Dec. 1 – The Ministry of Commerce (MOFCOM) has released the Measures on Examination of the Concentration of Business Operators effective January 1, 2010. The announcement clarifies the procedures for an anti-monopoly examination of business operators to be managed by the MOFCOM as the law enforcement agency as well as specific procedures for examination hearings.
First Interbank Clearing House Set in Shanghai
SHANGHAI, Nov. 30 – The country’s first interbank clearing house was launched in Shanghai on Saturday cementing government goals to make the city an international financial hub. The interbank market with a registered capital of RMB300 million will comprise of banks, securities firms, and asset management companies which trade currency derivatives, bonds and commercial bills […]
New Rule to Restrict Individual Cross-Border Fund Transfers
Nov. 27 – The State Administration of Foreign Exchange (SAFE) has announced a new rule restricting cross-border money transfers by individuals to protect the foreign exchange market from speculative activity. Under the new rule, individuals will not be allowed to transfer from one overseas account into five or more bank accounts owned by individuals in […]
Deadlines for VAT Deduction Vouchers Clarified
Nov. 26 – China’s State Administration of Taxation (SAT) has released a circular explaining the deadlines of tax deductions for VAT deduction vouchers effective January 1, 2010. According to the circular, taxpayers who are given special VAT receipts after January 1, 2010 for invoices for roads and inland river freight forwarding and invoices for motor […]
Shanghai Expats Now Eligible for Social Security and Pensions
SHANGHAI, Nov. 25 – Shanghai’s Human Resources and Social Security Bureau has announced rules to extend the city’s social security program to expatriate employees. The moves mean that expats will be able to claim for coverage for sick pay and work place injuries provided they pay into the system. Previously expatriate staff had to contribute […]
