Other Briefings
Jiangsu Province Stricter with FIE Registration
Feb. 27 – The State Administration of Foreign Exchange (SAFE) of Jiangsu Province is becoming stricter on rules regarding new foreign invested enterprises (FIE) to prevent abuse. In the past, local companies and individuals have been caught setting up offshore companies and using it to incorporate in China and take advantage of the benefits offered […]
Downsizing or Liquidating a China Business
Feb. 11 – While the current global economic problems continue to wreak havoc, particularly among businesses in China who are solely export focused, it is prudent for executives facing difficult decisions in China to be aware of their responsibilities when faced with tough decisions. The Chinese government has already stated that it intends to seek […]
Revision on Technology Import Procedures Announced
Feb. 6 – China’s Ministry of Commerce (MOC) has announced a new revision on the Administration of Technology Prohibited or Restricted from Import Procedures. Under the revised procedures, investigate privileges for import applications will be shifted from the MOC to the provincial and municipal commercial administration departments. The Technology Prohibited and Restricted from Import by […]
Beijing Lifts Restrictions for Foreigners Buying Real Estate
Jan. 26 – The Beijing government has lifted restrictions on foreigners wanting to purchase real estate in an effort to lift the slumping property market. For this year, the residency requirement and house type limits that applies for foreign expatriates have been removed. Previously, only expatriates that have resided in the capital for more than […]
Salary Reduction Under China’s Labor Law
By Chris Devonshire-Ellis Jan. 23 – With many businesses facing economic problems, the legal focus of business in China is shifting to an understanding of the implications of the new labor law, and specifically, its provisions for the reduction of staff salaries. The Labor Law is not specific on the reductions of salaries due to […]
China Releases New Business Tax Rule for Service Contracts
By Sabrina Zhang Jan. 22 – China’s State Administration of Tax (SAT) has passed a surprise amendment concerning the calculation of Business Tax (BT) effective January 1st. The new rule changes the BT levying principle and affects all overseas companies contracting labor and services to other companies or people based in China. The former BT […]
China’s New Forex Regulations
Jan. 5 – Due to the significant transformation undergone in Chinese economy, the State Council of the People’s Republic of China issued the new “Regulations on the Administration of Foreign Exchange of China” effective August 1, 2008. Under these new regulations, more emphasis is placed on the administration of inflow and outflow of foreign exchange. […]
China Increases Export Tax Rebates
Jan. 5 – China’s Ministry of Finance announced that it will further increase tax rebates for exports including 533 hi-tech and machinery products beginning this year as its way of aiding the export market that has been hard hit by the global economic slowdown. Businesses exporting industrial robots and airplane navigation systems can now avail […]
