Other Briefings
Advisor: Shanghai Should Have Clearing Bank
Mar. 3 – A political advisor and member of the 11th National Committee of the Chinese People’s Political Consultative Conference (CPPCC) said that China will need to establish a clearing bank in Shanghai to help its growth as a global financial center. Ji Xiaohui told Xinhua: “Setting up a clearing bank is an important step […]
Tax Regulations for Non-Resident Enterprises
Mar. 3 – The State Administration of Taxation (SAT) has issued the tax regulations for non-resident enterprises that do business and have establishments or places of business in China. Tax registration and filing for non-resident enterprises in China is set to begin from March 1, 2009 while 2008 corporate income tax filing should be done […]
Foreign-Owned Banks Urged to Increase Lending
Feb. 20 – The government is urging foreign-owned banks including Citigroup Inc. and HSBC Holdings Plc. to increase lending to support the slowing economy. Last month, the likelihood of defaults led foreign-owned banks to decrease lending and rein in credit.China’s banking regulator in Shanghai announced yesterday that foreign-owned banks should increase their contribution to China’s […]
China Industry: Feb. 18
Feb. 18 – This is a regular series of relevant industry news from around China. Solar power Chinese solar cells maker JA Solar Holdings Co. Ltd. said it had extended its existing agreement with BP Alternative Energy Holdings Limited, a subsidiary of BP Plc, to supply monocrystalline and multicrystalline solar cells to BP Solar in […]
Downsizing or Liquidating a China Business
Feb. 11 – While the current global economic problems continue to wreak havoc, particularly among businesses in China who are solely export focused, it is prudent for executives facing difficult decisions in China to be aware of their responsibilities when faced with tough decisions. The Chinese government has already stated that it intends to seek […]
Textile Tax Rebate to Increase 15 Percent
Feb. 5 – China will increase the tax rebate rate for textile and garment exports to 15 percent from the previous from 14 percent in an effort to support the textile industry and help exporters reduce costs. The State Council did not specify when the new tax rebate rate will be applied. This is the […]
China Approves Tax Breaks and Subsidies for Service Outsourcing Industry
Feb. 3 – The State Council has approved tax breaks and subsidies to boost the growth of China’s service outsourcing industry. The measures will also include a series of tax and fiscal policies and intellectual property rights protection, reports Xinhua. Businesses dealing with information technology, training, production materials procurement, logistics, and advertising are qualified to […]
China Industry Report: Jan. 28
Jan. 28 – This is a regular series of relevant industry news from around China. Wind power Bowen, a wholly-owned subsidiary of China’s CIAM Group Ltd. bought 45 percent of Huaneng Shouguang Wind Power for RMB84.03 million. U.S. Navajo Wind Energy Corp. said it had secured a line of credit financing for up to US$2.5 […]
