Other Briefings
Ex PBOC Governor named Head of China’s National Pension Fund
Responsible for USD70 billion national social security By Chris Devonshire-Ellis February 11th – Dai Xianglong, the ex Governor of the Peoples Bank of China and the current Mayor of Tianjin has just been named as the new Head of China’s national social security fund. Mr. Dai was born in Yizheng City, Jiangsu Province in October […]
China to strengthen management of cross-border capital flows
BEIJING, Jan. 30 – China’s foreign exchange regulator said yesterday it will strengthen management of cross-border capital flows and short-term bank borrowing in 2008. The State Administration of Foreign Exchange will conduct checks on cross-border capital flows, paying particular attention to how foreign currency converted into yuan is used in China. China faces increasing pressure […]
Shanghai ROs have until Feb. 5 to apply for vehicle license plate free of charge
SHANGHAI, Jan 24 – Shanghai’s Urban Transportation Administration Bureau has announced that any representative office established in Shanghai before January 7, 2007 has until February 5, 2007 to apply for a vehicle license plate free of charge. In the past, every representative office in Shanghai was entitled to one vehicle license plate. However, early this […]
Preparation the key to transfer pricing documentation requirements
By Steven Carey, Douglas Fone and Dr. Jian Li HONG KONG, Jan. 22 – The Implementing Regulations that have been in effect from January 1, 2008 for the new Corporate Income Tax Law are the result of several years of deliberation by the State Administration of Taxation on transfer pricing. Tax authorities globally have been […]
China’s labor law – The reality for overseas investors
Drafting an employment handbook a sensible step to take to minimize liabilities and identify terms By Chris Devonshire-Ellis and Richard Hoffmann Jan. 18 – Much has been made of the new Labor Contract Law in China, with regrettably a lot of hot air from excitable “China” lawyers as well. Harem scarem stories of a massive increase in […]
China to adjust import/export duties in an effort to conserve resources
Dec. 28 – The government will adjust the import and export duties on some products from January 1 to save domestic resources and ensure better trade balance the government has said. Import duties on aluminum, refined copper and coal will be removed while the export taxes on some steel products, coking coal and coke will […]
China to increase allowable foreign investment quota
SHANGHAI, Dec. 10 – China’s State Administration of Foreign Exchange will increase the quota for allowable foreign trade investment in RMB-denominated stocks and bonds to US$30 billion, it is reporting on its website. No implementation date was specified in the announcement. The move is aimed at expanding mainland markets, reduce volatility and propel the value of […]
Breach of Regulation #43 causing problems for FIEs’ tax holidays
By Andy Scott Dec. 7 – As China moves to implement the new corporate income tax regulations, many FIEs are losing their tax holidays as the State Administration of Taxation puts them under increased scrutiny ahead of the new law’s implantation. China’s tax authority has increasingly focused on FIEs that previously enjoyed tax relief. As […]
