Other Briefings
U.S. Treasury Secretary Aims to Broaden Access to China Market
Dec. 2 – U.S. Treasury Secretary Henry Paulson is on his way to Beijing for the U.S.- China Strategic Economic Dialogue to begin on Thursday. One of his main goals include convincing Beijing to allow Wall Street greater access to the Chinese market, reports the Wall Street Journal. Mr. Paulson is calling for more market […]
Beijing Introduces Tax Cut to Spur Home Purchases
BEIJING, Nov. 25 – In an effort to encourage spending and boost the slumping housing market, the Beijing government cut contract taxes on home purchases yesterday. tarting November 24, homebuyers in Beijing will have their contract tax halved if the price is below a certain level. According to China Daily, this would mean that if […]
China to Establish RMB3 Billion Fund for SMEs
Nov. 25 – By the end of the year, the China Association of Small and Medium Enterprises (CASME) will establish a RMB3 billion venture investment fund to aid SMEs gather capital. CASME’s efforts also include the joint issue of an SME corporate bond with the northeastern Liaoning provincial government and starting up a bank with […]
Foreign Investors in China Advised to Conduct Scenario Planning
Nov. 20 – A China-based consulting firm has released a report advising foreign investors in the country to engage in scenario planning as a way of bracing itself for the possible economic situations that may arise in the near future. APCO Worldwide in their report called, A Gathering Storm? China’s Growth Prospects and the Need […]
China Urges Local Government to Maintain Minimum Wage Level
Nov. 19 – China’s Ministry of Human Resources and Social Security has instructed local governments to maintain the minimum wage levels to aid companies in dealing with the global credit crisis. “In the light of the current economic situation and real conditions in companies, minimum wage increases have been suspended for the near term,” said […]
New VAT Refund Rates to Take Effect Dec. 1
Nov. 19 – As we reported last week, China recently moved to increase the value-added tax (VAT) refund rate on certain products including steel, grain, chemical goods and thousands of other goods as part of its efforts to quicken growth. The new VAT refund rates, effective Dec. 1, will cover some 3,770 types of exports, […]
Current VAT ‘Encouraged Projects’ to Change Under New Tax Reform
Nov. 14 – China announced earlier this week that beginning January 1, it will reduce value-added tax (VAT) for all industries in an effort to encourage movement from the current production-based VAT regime to a consumption-based one. Under the new system, the VAT-IN paid on importation or local purchase of production equipments will be deductible, […]
China’s First Specialist Financial Court Opens in Pudong
SHANGHAI, Nov. 14 – China’s first court dealing exclusively with financial disputes opened yesterday in the Pudong district of Shanghai. The area is home to a specially created development zone, Lujiazui, which deals exclusively with banks and financial institutions, housing many of the primary global and Chinese players, such as HSBC, Citibank, the Bank of […]
