Other Briefings
Shenzhen Adopts New Population and Family Planning Regulation
Jan. 11 – The Standing Committee of the Fifth People’s Congress of Shenzhen Municipality passed the “Shenzhen Special Economic Zone Population and Family Planning Regulations (hereinafter referred to as ‘Regulation’)” on October 30, 2012, which came into effect on January 1, 2013. The Regulation is the first local law in China that clarifies the issue […]
Central China on the Rise
Located in the heart of central China, Wuhan, the capital of Hubei has traditionally being one of the country’s most important economic and transportation centers. However, with the introduction of the reform and opening-up policy to the country’s coastal areas in the 1970s, Wuhan has fallen behind the economic wave. Most investors bypassed the city and throw their capital in places like Shanghai, Guangzhou and Shenzhen.
China Approves Plan for Creation of the Central Plains Economic Zone
To support the balanced development of different regions within the country, China’s State Council officially approved the “Planning for a Central Plains Economic Zone” on November 17, 2012. The proposed economic zone would cover the entirety of Henan Province, as well as twelve municipalities and two counties in adjoining provinces.
Hague Conference Establishes Asia-Pacific Regional Office in Hong Kong
Dec. 13 – The Hague Conference on International Private Law (HCCH), the world’s leading intergovernmental organization in the field of private international law, established its first Asia-Pacific regional office in Hong Kong today. Yuan Guoqiang, the Secretary of Justice of Hong Kong, described the establishment of the office as “a vote of confidence in Hong […]
Regulations Released on VAT Deduction Certificates for General Taxpayers in Guangdong Province
Guangdong’s Provincial Office of the State Administration of Taxation (SAT) released a regulation concerning the VAT deduction certificates of VAT general taxpayers in the province on November 14, clarifying deduction conditions and periods for five types of deduction certificates. Detailed information can be found here.
Guangzhou Releases Circular to Promote Development of MSMEs
Guangzhou released the “Circular on Several Policies to Promote the Development of Micro, Small and Medium-sized Enterprises (MSMEs) on November 1, which clarifies the preferential policies on supporting the development of MSMEs in the city. Detailed information can be found here.
Jiangsu Releases Circular on Collective Acceptance of Taxpayers under VAT Reform
Jiangsu Province released the “Circular on the Collective Acceptance of the Taxpayers in the Pilot Collection of Value-Added Tax in Lieu of Business Tax” on November 7, aiming to promote the smooth implementation of the pilot collection in the province and effectively reduce the burdens of taxpayers and the state tax authorities at basic level.
Shenzhen Clarifies Transitional Financial Support Policies for VAT Reform
Shenzhen released a circular on VAT pilot conversion on October 30, clarifying financial support issues regarding VAT reform in the city. The main content of the Circular can be found here..
