Other Briefings
HSBC Set to List in Shanghai
By Chris Devonshire-Ellis Aug. 12 – HSBC is set to list their operations on the Shanghai stock market in a move that would see them return to their roots. The bank was founded by Thomas Sutherland in 1865 in Hong Kong and Shanghai and was called the Hongkong and Shanghai Banking Company Limited. It financed […]
Training Costs May Be Paid by Employees
Aug. 10 – China’s Legislative Affairs Office of the State Council has released a draft regulation for public comment regarding training fees that may need to be paid for by employees. According to the China Daily, around 1.5 to 2.5 percent of employees’ salary will be set aside for the training fees. Salary cuts are […]
CBRC to Restrict Chinese Interbank Bond Holdings
Aug. 4 – The China Banking Regulatory Commission is set to tighten banks capital rules by excluding subordinated bonds sold to other banks from their capital base. The regulator has sounded out banks concerning the plan, according to the South China Morning Post, who quoted a spokesman as saying “the CBRC wants to restrict bank’s […]
China Industry: Jul. 29
Jul. 29 – This is a regular series of relevant industry news from around China. Solar power Canadian Solar said it had received ISO/IEC17025 accreditation for its photovoltaic (PV) reliability testing center in Changshu, China. The center gained the accreditation from China National Accreditation Service for Conformity Assessment, which is solely responsible for the accreditation […]
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 […]
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 […]
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 […]
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 […]
