Other Briefings
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 […]
China Announces Export Tax Cuts
Nov. 13 – China’s Cabinet announced on its website that it would increase the value-added tax (VAT) refund rate on some products including steel, grain, chemical goods and thousands of other goods as part of its efforts to quicken growth after the release of a multibillion-dollar economic stimulus package. The VAT refund rate increase, effective […]
China Cuts VAT For All Industries
Nov. 11 – China’s State Council said that beginning January 1, it would reduce value-added tax (VAT) for all industries by more than RMB120 billion. The move is part of a stimulus package worth RMB4 trillion scheduled to be spent by 2010. It is expected to spur Chinese companies to develop technology, increase domestic demand […]
