Other Briefings
Electronic Foreign Exchange Certificate application process changes in Hangzhou
Chief representatives of ROs and the legal representatives for FICEs are now required to go in person to register for a foreign exchange certificate if they want to have an account that can accept foreign currencies in Hangzhou. This new regulation differs from that of Shanghai where an agent applies for the Electronic Foreign Exchange […]
China’s corporate bankruptcy law comes into effect
China’s corporate bankruptcy law took effect today. The law, which effects both foreign and domestic companies, allows creditors or financial supervision agencies to initiate bankruptcy proceedings against companies whose managements are unwilling to do so. The law should streamline the process for declaring bankruptcy or securing defaulted payments, especially for foreign companies that before fell […]
China reduces VAT burden in central provinces
The long-anticipated value-added tax pilot test plan for the central China provinces was released May 18 amid assurances that such the pilot test will cut tax burdens, encourage investment expansion, and boost industrial structure upgrading of the enterprises in central provinces. Authorities believe that the pilot test will cut production cost in 8 sectors by one-sixth to […]
Beijing limits city construction
The more things change, the more they stay the same. Not in Beijing though, where the coming 2008 Olympics have transformed the city into one large construction zone. Much has been written about the pace of development, the destruction of old hutong neighborhoods and the relocation of hundreds of thousands of people. In an attempt to show they […]
Macau’s land valuation rules to be revamped
According to the South China Morning Post, the Macau government will revamp its land valuation criteria, based on a public consultation to be launched in June or July, according to new secretary for transport and public works, Lau Si-io. Mr Lau – who replaced disgraced former minister Ao Man-long, who is facing corruption charges – […]
Controls on foreigners’ hydrological acitivities tightened
The State Council has issued a regulation requiring foreigners in China to receive government approval before conducting any hydrological activities in the country. As Xinhua reports, the regulation, which will come into effect on June 1, states that, “Foreign organizations and individuals who engage in hydrological activities in China must obtain approval from the central […]
China’s oil industry inches closer to reform
April 3 – The Ministry of Commerce (MOC) recently issued two guidelines on how domestic and foreign companies can apply for wholesale crude and refined oil licences. According to The People’s Daily, these guidelines are set to bring about de facto market deregulation but analysts say that without reform of the oil-pricing mechanism, new players will […]
Land policy in Zhongshan
With the spreading development of foreign direct investments across China, not only big cities, but also second tiers city have become more concerned about how to make most from the limited land they have. The southern Chinese city of Zhongshan it’s an interesting example in this regard. While the Zhongshan Government has issued a wide […]
