Other Briefings
SAFE Requires Additional Documents for Foreign Exchange Settlement
A recent supplementary circular stipulates additional documents that enterprises should provide when applying for foreign exchange capital settlement, as well as imposes on banks the obligation to examine and verify the authenticity of the invoices related to and the usage of RMB funds obtained from enterprises’ foreign exchange capital settlements.
Hong Kong Custodial Sentences for False Statements of Truth
Sept. 6 – The courts in Hong Kong have imprisoned two defendants for periods of five and six months for making false statements of truth in cases brought against them. This is the first time custodial sentences have been handed down for the offense, and indicates that Hong Kong courts are getting tougher on accuracy […]
A Business Guide to Western China – Local Markets and Exotic Exports
A complete overview of the trade dynamics and foreign investment opportunities from Xi’an to Xinjiang, and from Mongolia to Tibet. Op-ed Commentary: Chris Devonshire-Ellis Aug. 26 – China’s western regions have long held a fascination for many. The route of the ancient Silk Road, the mysteries of the orient, huge deserts, enormous mountains, a collision […]
Hong Kong’s New Arbitration Law Improves China Dispute Resolution
Aug. 23 – Hong Kong has recently introduced a new aspect to its well-regarded arbitration laws, and has enacted the new Arbitration Ordinance, which came into effect on June 1, 2011. This legislation, based on the widely-used United Nations Commission on International Trade Law (UNCITRAL, or the Model Law), further underlines Hong Kong’s pro-arbitration stance […]
Pearl River Delta’s Hengqin Island to Enjoy Free Trade Zone Treatment
By Vivian Ni Aug. 5 – Hengqin, the largest island in South China’s Zhuhai Special Economic Zone, is going to become a free trade zone modeled on Hong Kong. A report by Shanghai Securities News says Beijing has agreed to offer the area policies even more “special” than those given to special economic zones and […]
Shenzhen Announces Public Holidays for Universiade
Jul. 25 – The Shenzhen government has issued public holiday arrangements for the 26th Summer Universiade (August 12-23, 2011), which applies to all governmental departments and institutions, schools and non-government organizations in Shenzhen. Other enterprises and groups can make relevant arrangements at their discretion. The seven-day holiday is broken down into two parts, four days […]
China Chamber Warns Beijing of Mass Bankruptcies
Jul. 22 – The All China Federation of Industry and Commerce, the official chamber for non-state-owned enterprises in China, has urged the central government to take action concerning what it regards as a serious likelihood of major bankruptcies among small to medium-sized businesses in China. In a strongly worded warning, the chamber said that 7.5 […]
Shenzhen to Collect Local Education Surcharge
New circular requires entities and individuals that are subject to value-added tax, business tax and consumption tax to also pay a local education surcharge retroactively from January 1, 2011.
