Other Briefings
Hong Kong Promoted to Prime Center for Arbitration
The new Hong Kong Arbitration Ordinance enacted in November last year will take effect on June 1, 2011, the Department of Justice announced. The new will largely benefit arbitration parties and make Hong Kong a more preferred location for arbitration in the Asia Pacific Region.
Hong Kong Statutory Minimum Wage to Come into Force
The Minimum Wage Ordinance was passed by Hong Kong’s Legislative Counsel and will come into force on May 1, 2011. The initial statutory minimum wage rate is HK$28 per hour.
Shenzhen Announces 2010 Joint Annual Inspection for Foreign Invested Enterprises
Shenzhen announced on February 25, 2011 that it will implement joint annual inspection of foreign invested enterprises between March 1 and June 30, 2011. All foreign invested enterprises registered in Shenzhen prior to December 31, 2010 are required to apply for joint annual inspection with seven departments.
Shenzhen’s Manhattan District Gets Underway
Mar. 14 – China’s central government has approved a project to turn a 15 square kilometer site bordering Shenzhen and Hong Kong to become “the Manhattan of the Pearl River Delta.” The site, reclaimed land known as Qianhai, north of Shekou, is to become a hub for innovative service industries. It will, in effect, become […]
Hong Kong to Increase Preferential Tax Treatment for Dependent Family Members
Feb. 28 – The Financial Secretary of Hong Kong John Tsang presented the 2011-12 government budget on February 23, 2010, in which he proposed to increase the allowance for maintaining dependent parents/grandparents by 20 percent. This would increase the allowance for maintaining dependent parents/grandparents aged 60 or above from the present HKD30,000 to HKD36,000, while […]
Hong Kong Budget 2011/2012 – Complimentary Report
RSM Nelson Wheeler have just released their latest newsletter highlighting the Hong Kong budget for the next 12 months. Hong Kong’s Financial Secretary, John Tsang, delivered his budget speech to the Legislative Council in Hong Kong yesterday. The report details the following:
Shenzhen Housing Fund to Impact Foreign Companies
The Shenzhen municipal government recently issued a new circular dictating that many entities operating in the city will have to start contributing to the monthly housing fund.
Migrant Workers in China Demand More from Employers
Feb. 11 – Increasing militancy over labor conditions and terms by migrant workers in China is having a serious impact on South China-based businesses, as many migrant workers are refusing to return from the Chinese New Year vacation unless their demands are met. With workers becoming increasingly aware of their rights under the Labor Law, […]
