Other Briefings
New Postal Law May Limit Foreign Companies
Apr. 24 – China’s new legislation for postal services may restrict foreign companies from competing with domestic firms. The new Postal Law on the express delivery of documents is currently in its final stages and is expected to be approved soon when the standing committee of the National People’s Congress meet. There is an article […]
China to Restrict F Visas for 60th Anniversary
SHANGHAI, Apr. 22 – In preparation for the 60th anniversary of the founding of the People’s Republic of China, there has been talk that the government may restrict F visas beginning this month. The preparations for a large national celebration of the October 1, 1949 founding are already underway and should Beijing elect to tighten […]
Five Year Tax Exemptions for Media and ‘Cultural’ Industries
Apr. 14 -The Chinese government has announced a preferential tax policy spanning five years to help boost the country’s “cultural industries.” According to the Ministry of Finance, cultural companies will be qualified for an exemption of value-added tax, business tax or import duties from 2009 to 2013. Cultural companies are defined as those dealing with […]
China to Standardize Rural Land-Use Transfer Rights
Apr. 8 – China is working out the details of implementing a model contract for rural land-use rights transfer to regularize farmland-use rights. The State Administration for Industry and Commerce said that the model will outline the object, time limit, payment, mode and time of payment of the deal in addition to the date of […]
Beijing’s Car Restrictions to Continue for Another Year
Apr. 7 – Beijing’s revised restrictions on cars will continue for another year beginning April 13 and will only be enforced on weekdays not including holidays and weekends. Spokesman for the municipal committee of communications, Wang Zhaorong, said in a press conference that some of the rules were changed to make it easier for residents […]
Forbes: Hong Kong has Friendliest Tax Regime in the Region
Apr. 3 – According to the 2009 Tax Misery and Reform Index, Hong Kong was ranked as the friendliest tax regime in the Asia-Pacific region and the third in the world. The annual index was done by business magazine, Forbes Asia, by comparing 50 jurisdictions around the world. The score was calculated based on the […]
Foreign Investors Asked to Commit 5 Year Lockup for Bank Shares
Apr. 2 – The China Banking Regulatory Commission (CBRC) has extended the lockup period for bank shares held by foreign investors from of 3 years to 5 years or more. CBRC chairman, Liu Mingkang, was quoted by China Daily during a recent meeting held at the Chinese Academy of Social Sciences, that if Chinese commercial […]
New Regulations on Travel Agencies Effective May 1
Mar. 31- New regulations that will allow local and foreign-owned travel agencies to run inbound and domestic tours with a lower registered capital requirement than was previously the case will take effect beginning May 1. The revised Regulations on Travel Agencies will permit foreign-owned travel agencies to set up in China with just RMB300,000 compared […]
