Other Briefings
Sanya Residential Property Skyrockets
Feb. 9 – Crispins Property Investment Management (CPIM) has released a bulletin examining the property market in the tropical South China Sea island of Hainan and the resort city of Sanya. Sanya has long been regarded as “China’s Hawaii” and with its beaches, coconut palms and great sea food it has developed into a popular […]
China to Raise Minimum Wage Levels
BEIJING, Jan. 29 – Local governments will raise minimum wage levels as soon as next month from 10 to 12 percent given the recovering economy and rising inflation. Beginning next month, Jiangsu Province will increase minimum wage levels from RMB850 to RMB960, the same level Shanghai and Hangzhou. Beijing will soon follow suit with a […]
Tax Clearance Requirements when Leaving Hong Kong
HONG KONG, Jan. 28 – For employees chargeable to tax and intending to leave Hong Kong for more than a month, the Inland Revenue Department (IRD) requires at least 1 month notification before departure to settle all tax liabilities. This applies to cases when a taxpayer intends to migrate to another country or to study […]
New China Briefing Books Out Now
Jan. 22 – China Briefing just released two new titles on doing business in the country; expanding the Asia Briefing roster of invaluable resources for both the new and experienced foreign investor. Human Resources in China Due to the rapidly changing nature of the labor market and the laws that govern it in China, it […]
Hong Kong Adjusts Interest on Tax Reserve Certificates
HONG KONG, Jan. 19 – The Secretary for Financial Services and the Treasury have approved an adjustment of interest rates on tax reserve certificates. The new annual rate of interest will be 0.0433 percent from 0.0667 percent starting January 4. The interest will be credited when the certificates are used to pay tax and no […]
Guangdong Extends Tax Declaration Deadlines
GUANGZHOU, Jan. 19 – Guangdong authorities have issued a new circular extending the deadlines for local taxation declarations on six public holidays. Extended tax declaration deadlines will apply to the New Year, Spring Festival, Qingming Festival, International Labor Day, Dragon Boat Festival and National Day holidays.
Hong Kong Express Rail Link with Mainland Approved
Jan. 18 – Hong Kong authorities approved a US$8.6 billion express rail link connecting the territory with Guangzhou and Shenzhen over the weekend sparking protests. The controversial project was approved by a 31-21 vote dominated by pro-establishment lawmakers. Protesters surrounded the Hong Kong legislature on Saturday claiming the project only benefited a privileged few, failed […]
Trial Program for Mainland Investors Expires
Jan. 14 – The document for allowing a trial program that give Chinese individuals direct access to Hong Kong-listed securities and other global markets gas has expired. The State Administration of Foreign Exchange issued the document in 2007 allowing mainland Chinese individuals to use the renminbi or foreign currencies to invest in securities markets overseas. […]
