Other Briefings
Shenzhen Adopts New Housing Fund Rates
SHENZHEN, Nov. 15 –Shenzhen has adopted new contribution rates for the city’s housing fund, set to take effect on December 1, 2010. The new rates will be from 5 percent to 20 percent as decided by the employer. The fund will use the average wage of the employee from the previous year as the lower […]
China’s Fastest Growing Provinces: The Demographics
Nov. 8 – At the recent Economist China Summit, Michael Koenig and Christophe Bezu, of Bayer and Adidas respectively, emphasized that Central China would experience renewed growth and development as per capita GDP and household disposable income increased at the same time that the coastal areas experienced a slowdown. Last week, we featured the top […]
China’s Leaders Approve Next Five Year Plan
October 19 – China’s leaders met in Beijing over the weekend to discuss the country’s 12th five-year plan, which will focus on developing more sustainable economic growth. After concluding the four-day meeting, the Chinese government announced on Monday that it had successfully drafted and approved the new plan, but the complete text will likely not […]
CCH Asia Tax Summit 2010 – Shanghai
SHANGHAI, Oct. 13 – CCH, the global tax media business and publisher, are hosting their important Asia Tax Summit in Shanghai next week for three days from October 19-21. The event, being held at the Gran Meliá Hotel Shanghai, is titled “Doing Cross Border Business and Getting an Internationalized Vision.” It is the first time […]
China Yangtze Power to Invest in Siberian Hydropower Projects
Oct. 13 – Russia’s second-largest electricity producer, EuroSibEnergo PLC, and hydropower producer China Yangtze Power Co. (CYPC), headquartered in Beijing, have signed a framework agreement of cooperation for the development of hydropower projects in Russia. EuroSibEnergo, formerly called En+Power, is a subsidiary of EN+Group owned by Russian billionaire Oleg Deripaska.
Shanghai’s New Qingcaosha Reservoir to Open this December
SHANGHAI, Oct. 12 – Shanghai has invested RMB17 billion (US$2.53 billion) into building a new water reservoir in an effort to improve its water infrastructure while combating water shortages and quality problems. The Qingcaosha Reservoir will open on a trial basis this coming December and, when fully operational, will provide 10 million people in the […]
China’s Emissions Won’t Peak Before Per Capita GDP Reaches US$40,000: Xie Zhenhua
Oct. 7 – China’s emissions peak is unlikely to come before the nation’s GDP per capita surpasses US$40,000, a high-ranking government official told reporters on the sidelines of the ongoing United Nations climate change talks in Tianjin this week. Xie Zhenhua, China’s top climate change official and vice minister of the National Development and Reform […]
Using Hong Kong as a Base for China – The Tax Advantages
By Jennifer Lu, Dezan Shira & Associates HONG KONG, Oct. 5 – Double taxation arises when two or more tax jurisdictions overlap, such that the same item of income or profit is subject to tax in each. In Hong Kong, which has adopted the territoriality basis of taxation, only income or profits sourced in Hong […]
