Other Briefings
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 […]
First Cross-Border Yuan Trade Settlement Deal Made
Jul. 6 – The first cross-border yuan trade settlement deal came through today from the Bank of China (BOC), Hong Kong to Bank of China, Shanghai reports Xinhua. The deal is part of a pilot program announced by Beijing last April to ease cross-border trade deals for Chinese importers and exporters in southern Guangzhou, Shenzhen, […]
WTO Complaints Filed Against Chinese Export Restrictions
Jun. 24 – Two complaints were filed with the World Trade Organization (WTO) regarding China’s export restrictions on raw materials, alleging that it gave an unfair advantage to local companies and violated international trade rules. The European Union and the United States submitted separate complaints on the same issue. Ironically, trade complaints against China usually […]
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 […]
