Other Briefings
SAFE Requires Additional Documents for Foreign Exchange Settlement
A recent supplementary circular stipulates additional documents that enterprises should provide when applying for foreign exchange capital settlement, as well as imposes on banks the obligation to examine and verify the authenticity of the invoices related to and the usage of RMB funds obtained from enterprises’ foreign exchange capital settlements.
Beijing FIEs Now Subject to Labor Union Fees
From July 2011, FIEs in the pilot areas (Dongcheng, Xicheng, Chaoyang, Mentoutou and Shunyi District) of Beijing will be required to pay labor union fees, according to a recent announcement made by the Beijing Labor Union.
Calculation of Maternity Benefits to Change in Dalian
From this month, employees on maternity leave in Dalian will no longer enjoy their full salary during the period of maternity leave. Instead they will receive a figure equal to the average monthly salary earned by the employees at the company they are working for during the previous fiscal year.
Dalian-based Employers to Face Higher Social Insurance Costs. Other Cities to Follow?
On August 25, the northeast Chinese city of Dalian released a new policy set to come into effect from September 1, 2011, stating that the calculation for the employer contribution of social insurance costs on behalf of their employees will change. The effect of this change is going to have a considerable negative effect on some companies based in the city.
New Complimentary China City Guides Available from Asia Briefing
Asia Briefing has just revised and updated its China City Guide series – offering readers a brief and easy to read, yet immensely informative, introduction to the Chinese cities of Shanghai, Beijing, Hong Kong, Shenzhen, Guangzhou, Dalian, Tianjin, Qingdao, Hangzhou, Suzhou, Ningbo, and Zhongshan. All city guides are now available for complimentary PDF download.
New Development Zone in Tianjin to Further Boost FDI
Jul. 4 – Tianjin has been historically regarded as one of the major trading centers in China for its convenient location, abundant natural resources, and rich culture. Today, Tianjin is still regarded as a major trading hub, as it can be seen in the economic success of the area. In 2010, Tianjin’s GDP hit roughly […]
Beijing Announces Wage Bases for 2011 Social Security Payments
Based on Beijing’s average annual wage level RMB50,415 in 2010, Beijing Municipal Bureau of Human Resources and Social Security announced the wage bases for distinct employees’ social security payment in 2011.
Beijing Government Issues Circular on Collection of Union Fees
The General Office of the People’s Government of Beijing Municipality has issued the “Circular on the Commencement of the Pilot Work with regard to the Collection of Union Contributions and Preparation Fees by the Beijing Local Tax Bureau (Jingzhengbanhan [2010] No. 34).”
