Other Briefings
Housing fund contributions change for Beijing, Shanghai and Guangzhou
Provincial tax authorities recently announced an amendment to the regulations that govern tax free contributions to basic pension funds, basic medical insurance, unemployment and housing funds (Cai Shui (2006) Circular 10). Effective July 1, 2007, provincial supervision bureaus have put in place new regulations on housing fund contributions for Beijing, Shanghai and Guangzhou. When it was issued […]
Shanghai to open three new metro lines by end of year
Shanghai will open three new metro lines by the end of the year, extending the total distance of the network to 230 kilometers authorities at the city subway’s construction headquarters announced. Metro Line 6 will run south to north in Pudong, Metro Line 8 links Yangpu District with many downtown stops, and Metro Line 9 links Xuhui […]
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 […]
Shanghai – Hangzhou maglev train shelved
Didn’t we just talk about pork? The maglev train that was to connect Shanghai and Hangzhou appears headed to the dustbin of history. The project has been officially put on hold due to radiation concerns according to Xinhua. “The project has been suspended in line with the arrangements of the municipal government,” said a spokesman with […]
Shanghai Pudong airport sixth largest for cargo
Pudong International Airport (PVG) ranked as the sixth largest in the world for freight in 2006, handling some 2.16 million ton of cargo according to the Airports Council International. Pudong jumped two spots from last year on a rapid increase, 22.3 percent, of freight flights in 2006. In 2006, the airport handled 35,587 freight flights, […]
China unveils bullet train between Shanghai and Hangzhou
HANGZHOU, Jan. 29 – At 7:15 p.m. on January 28, 2007, the first CRH (China Railway Highspeed) train left Hangzhou with nearly 700 passengers, arriving in Shanghai 90 minutes later. The new bullet trains, or dong he du in Chinese, use multiple engine-powered carriages alongside non-powered units in order to raise travel speeds. Theoretically, the […]
Further delegation of wholesale FICE approvals in Shanghai
SHANGHAI, Jan. 1 – On October 1, 2006, the Shanghai Municipal Government issued a notice delegating authority for approving certain categories of Foreign Invested Commercial Enterprises (FICE) to the district level, in other words, to the level of administration below Shanghai Municipality (there are 18 districts and one county in Shanghai). According to this notice, […]
Developments at Shanghai Yangshan deep water port
Nov. 2 – On the islands of Xiao Yangshan and Da Yangshan, some 30 kilometers south of Shanghai, Phase 1 of this major new facility opened in December 2005, with five container ship berths. The port lies at end of the 32.5-kilometer Donghai oversea bridge. It is expected to have a throughput of 3m TEUs […]
