Legal & Regulatory

China Approves Tax Cuts, Rebates to Support Textile Industry


Nov. 21 – China has approved new tax cuts and rebates for the textile industry as part of government measures to support slowing exports. Export tax rebates on textile products will be increased to 17 percent. The 21st Century Business Herald reported that the proposal to increase tax rebates was approved during the State Council’s […]

Shandong, Hubei Rule No Layoffs Without Approval


Nov. 18 – Companies based in Shandong and Hubei provinces are now required to apply for approval from their local human resources and social security authorities before a layoff of 40 or more workers. The regulation amends on the national labor contract law implemented last January. According to the national labor contract law, companies that […]

UNDP Report:China Should Provide Basic Public Services for All Its Citizens


Nov. 17 – According to the China Human Development Report 2007/08 called “Access for All: Basic Public Services for 1.3 Billion People,” the country should hasten the process of providing basic public services for all its citizens. The report was commissioned by the United Nations Development Programme and researched by the China Institute for Reform […]

Foreigners in Shanghai Required to Renew Residence Certificates by November 30


SHANGHAI, Nov. 17 – Shanghai’s exit-entry administration announced that foreign residents will need to renew their residence registration certificates at police stations by November 30. The city is set to issue a new version of the certificate starting October 1. Residence registration certificates are necessary for applying, changing or extending visa and residence permits. Foreign […]

China’s First Specialist Financial Court Opens in Pudong


SHANGHAI, Nov. 14 – China’s first court dealing exclusively with financial disputes opened yesterday in the Pudong district of Shanghai. The area is home to a specially created development zone, Lujiazui, which deals exclusively with banks and financial institutions, housing many of the primary global and Chinese players, such as HSBC, Citibank, the Bank of […]

China Announces Export Tax Cuts


Nov. 13 – China’s Cabinet announced on its website that it would increase the value-added tax (VAT) refund rate on some products including steel, grain, chemical goods and thousands of other goods as part of its efforts to quicken growth after the release of a multibillion-dollar economic stimulus package. The VAT refund rate increase, effective […]

Foreign Personal Security Risk Firms to be Allowed in China Next Year


Nov. 11 – China is expected to open up its risk management industry next year following an anticipated rubber stamping at the Spring 2009 National People’s Congress, permitting the establishment of both local and foreign invested personal security firms that can provide services such as bodyguards, protection, escort and crisis resolution to operate across the […]

China Releases $586 Billion Economic Stimulus Plan


Nov. 10 – China has released an economic stimulus plan worth an estimated US$586 billion to stimulate its slowing economy and build new railways, communities, subways and airports in the next two years. The stimulus plan is effective immediately, with US$18 billion already earmarked for the last quarter of the year. The US$586 billion package […]

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