Other Briefings
New Food Safety Law Effective this Month
Jun. 4 – China’s new Food Safety Law China went into effect beginning this month. The law integrates stringent food safety standards to make supervision easier and will require new food licenses for businesses. Food suppliers who already obtained a food sanitation license prior to June 1 can still use the license until expiry date. […]
Shanghai to Subsidize More Environmentally Friendly Cars
SHANGHAI, Jun. 1 – The local government is encouraging more people to replace their cars and trucks with more environment-friendly models by giving average subsidies of RMB5,000 starting today until April 30, 2010. The measure is part of the city’s efforts to ease pollution and help the local economy for the coming Shanghai 2010 World […]
CEPA VI Continues Economic Liberalization between Hong Kong and the Mainland
By Joyce Roque HONG KONG, May 20 – Officials from the Chinese mainland and Hong Kong signed the latest supplement to the Closer Economic Partnership Arrangement (CEPA) last May 9 to further ease economic activities between the two. The agreement is set to take effect on October 1, 2009. CEPA VI’s measures aims to improve […]
Sarbanes-Oxley and U.S. Businesses in China
By Hank Bourg May 19 – The Public Company Accounting Reform and Investor Protection Act of 2002 commonly known as Sarbanes-Oxley or SOX after the two authors of the bill, was enacted on July 30, 2002 in response to several major corporate and accounting scandals, the most infamous being the meltdown of energy giant Enron. […]
Security Checks on Foreign Staff in Beijing Increasing
BEIJING, May 15 – Checks by the Public Security Bureau on the status of foreign employees in offices in Beijing have been taking place in the lead up to the anniversary of the Tiananmen Square incident on June 4. The checks include requests to provide passport, visa and resident certificates. Such employees are recommended to […]
The Foreign Corrupt Practices Act: Implications for U.S. Businesses in China
By Hank Bourg May 13 – The 1988 Trade Act by the Congress of the United States directed the U.S. Attorney General to provide guidance to potential exporters and small business regarding the Foreign Corrupt Practices Act of 1977, an act all U.S. businesses operating in China need to be familiar with. The FCPA prohibits […]
China Revises Market Entry Policies for Banks
May 6 – The China Banking Regulatory Commission released new market entry policies for branches of joint-stock commercial banks and urban commercial banks on April 30. The new policies, called the Opinions on the Market Entry Policies for Branches of Small and Medium-Sized Commercial Banks, include six clauses that detail how qualifying small and medium […]
New China Briefing and Technical Guide Examine Transfer Pricing in China
May 4 – The May issue of China Briefing magazine is online and available for download (complimentary subscription available). Transfer pricing is a reality for most multinational companies in China, and with the implantation of the new Enterprise Income Tax Law, the arm’s length principle for pricing group transactions is now being actively enforced. In […]
