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International Law

China Briefing Blog

Provides news, analysis and commentary on economic, business and regulatory issues in China.
By Andy Scott and Chris Devonshire-Ellis

Post Frequency: 3.4/day

Last Entry: May 25, 2010 at 04:47:32

China, India Purchasing Power, Prices and Salaries Report

Posted on August 27, 2009
Aug. 27 – 2point6billion.com has just produced a comprehensive breakdown of the costs of business and living between China and India. Using data taken from the recent UBS Global Prices and Earnings Report, the 2point6billion.com examination provides commentary on UBS data from Beijing, Shanghai, Delhi and Mumbai and uses New York as a benchmark...

Hong Kong to Host Louis Vuitton America?s Cup World Series

Posted on August 27, 2009
Aug. 27 – The Royal Hong Kong Yacht Club has asked the Hong Kong government for a grant to help it host the Louis Vuitton World Series, an America?s cup standard yachting competition that is the sport’s equivalent to the Formula One. If approved, the event will be held on November 2010 with the regatta to [...

Around Asia: Aug. 26

Posted on August 26, 2009
Aug. 26 – A weekly look at China and related influential regional news. China Plays Hardball as ADB/India Loan Row Continues India has rejected a loan from the Asian Development Bank of US$60 million for infrastructure project developments in Arunachal Pradesh state as China insisted on clauses within the loan agreement preventing ADB members from recognizing [...

SAFE Improves Foreign Exchange Administration, Nullifies Regulatory Documents

Posted on August 26, 2009
Aug. 27 – The State Administration of Foreign Exchange released a circular on Tuesday announcing that 25 regulatory documents have been repealed or nullified to improve the laws on foreign exchange administration. Of the 25 regulatory documents, 17 include the Circular on Adjusting the Examination and Approval Procedures for Financial Institutions Carrying Out Foreign Exchange Businesses [...

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Shanghai Closes in on New York-Level Prices

Posted on August 25, 2009
SHANGHAI, Aug. 25 - Shanghai and Beijing are getting close to prices one would expect to pay in New York for certain products, a recent UBS survey has found. The ?Prices and Earnings 2009” report was issued to the bank?s high net worth value individuals and compares a variety of prices for commodities ranging from food [...

CBRC Tightens Lending Policy

Posted on August 24, 2009
Aug. 24 - The China Banking Regulatory Commission is issuing guidelines effective from next month that slow down or even prevent banks from making new loans, in efforts to curb the excessive growth in consumer credit. The move comes against fears of creating a platform of bad debt...

China Industry: Aug. 25

Posted on August 24, 2009
Aug. 25 - This is a regular series of relevant industry news from around China. Solar power Taiwanese uninterruptible power supplies maker Powercom plans to spend TWD250 million to build a solar power plant in Central Taiwan Science Park. The company’s chairman, Simon Chang, said that the power station will have an output of 1 MW and [...

U.S. Commercial Service Releases China Business Handbook

Posted on August 24, 2009
Aug. 24 - The U.S. Commercial Service recently released their “China Business Handbook,” a resource guide for doing business in the People’s Republic of China. (Click on the cover to download, subscription required) Produced in association with Dezan Shira & Associates, the guidebook provides a general overview to doing business in China with chapters devoted to [...

China Remembered: Turandot at the Forbidden City

Posted on August 21, 2009
By Chris Devonshire-Ellis Aug. 21 - The hosting of Giacomo Puccini’s opera “Turandot” at the Forbidden City in Beijing in 1998 was a landmark occasion for both the city, and China. Although we weren’t to know it at the time, it laid the groundwork for the confidence and capabilities of China to host the Summer Olympics [...

Beijing Releases List of Major Corporate Polluters, Energy Consumers

Posted on August 21, 2009
Aug. 21 ?The Beijing Development and Reform Commission has released a list of major water-polluting and energy consuming companies that includes foreign and local brewers, beverage producers and dairy companies in efforts to achieve its aim to fulfill emission and energy-reduction targets mapped out in its 11th five-year plan...

China?s Fire Safety Law Affecting Foreign-Owned Factories and Warehouses

Posted on August 20, 2009
Aug. 20 ? The release of amendments to China?s fire safety laws following an increase in the numbers of fatal fires in commercial premises on the mainland last year is affecting businesses, which are now having to ensure adequate measures in fire prevention, evacuation and extinguishing are implemented...

Air China Deal a Learning Step for Mainland Aviation

Posted on August 20, 2009
By Chris Devonshire-Ellis Aug. 20 - The deal of the week has been Air China buying an additional 12.5 percent stake in Cathay Pacific held by CITIC Pacific and bringing its total stake in the Hong Kong-based airline to 29.9 percent. Cathay Pacific is the city’s leading airline and also owns a majority stake in Dragonair...

China Tax Bureau Clamping Down On Use of Fake Receipts

Posted on August 19, 2009
Aug. 19 - China’s State Administration of Tax appears to be concentrating efforts on curbing a rise in the use of faked receipts for businesses filing their monthly business taxes and reports to the local tax bureau. The use of false receipts, or fapiaos, to justify expenditure (and thus reduce income tax liability) has been evident [...

PetroChina Signs US$41 Billion Gas Deal with ExxonMobil

Posted on August 19, 2009
Aug. 19 - China’s PetroChina has made its largest trade yet with a US$41 billion liquefied natural gas deal with American company ExxonMobil. Under the deal, PetroChina will buy 2.25 million tons per year of gas from the Gorgon LNG project located in Western Australia for 20 years thus becoming the largest buyer in the project...

West, Central Regions Recession Proof as Auto Sales Surge

Posted on August 19, 2009
Aug. 20 - China’s Western and Central inland regions have reported a surge in auto sales with growth of 33 percent for the first half year over 2008 figures, according to a report from the global market research firm, Ipsos. The industry average for China this year has been 24 percent...

Beijing Inks ASEAN Deal, 7,000 Products at Zero Tariffs

Posted on August 18, 2009
Aug. 18 - China and ASEAN have concluded talks on the establishing of a free trade zone next year, boosting economic integration with Southeast Asia and clearing the way for increased trade throughout the region. Beijing?s agreement with ASEAN follows a similar agreement reached between India and ASEAN last week...

China Revises Advertising and Promotional Expenses

Posted on August 18, 2009
Aug. 18 - China’s Ministry of Finance and the State Administration of Taxation have released a circular on the qualifying deductions for advertising and promotional expenses (A&P Expenses) for corporate income tax computations beginning January 1, 2008 to December 31, 2010...

Tax Bureau Clarifies Investment Terms for Western Region

Posted on August 18, 2009
Aug. 19 - The State Administration of Tax has issued a circular to clarify the definitions set forth in the previous Caishui 202 regarding tax incentives for developments in China?s Western Regions that include Chongqing, Sichuan, Guizhou, Yunnan, Tibet, Shanxi, Gansu, Qinghai, Ningxia, Xinjiang, Inner Mongolia and Guangxi...

Shanghai Expo 2010: The Singapore Pavilion

Posted on August 16, 2009
The 2010 World Exposition in Shanghai will be the first registered one in a developing country. Officially known as ?Expo Shanghai 2010,? it will last 184 days and provide China an opportunity to show off its remarkable economic growth. The expo will also give foreign nations and companies a chance to further develop business partnerships [...

China Remembered: The Silver Russian Samovar at Beijing Capital Airport

Posted on August 14, 2009
By Chris Devonshire-Ellis Aug. 14 - It?s a sunny afternoon along a peaceful country road in north-east Beijing. Poplar trees and silver birch line the road, red-billed magpies, resplendent in blue feathers dive amongst the trees, and the occasional horse and cart trot by along the two lane tarmac...

Pudong Issues Rules on Foreign Invested Equity Investment Enterprises

Posted on August 14, 2009
SHANGHAI, Aug. 14 - Pudong New Area authorities have just issued guidelines for foreign private equity companies opening in the area. According to the circular, foreign-invested equity investment management enterprises (FIEIMEs) can establish offices in the following forms: contractual joint venture; equity joint venture; or wholly foreign-owned enterprise...

HSBC?s Shanghai Listing to Kick Start Financial Reforms

Posted on August 13, 2009
By Chris Devonshire-Ellis Aug. 13 - HSBC?s proposed listing next year in Shanghai is likely to have an extreme knock on effect in terms of accounting standards on the mainland, and is also likely to herald a move to a fully convertible RMB. China has long been wary of foreign banks operating in China, not just [...

WTO Rules Against Chinese Import Limits

Posted on August 13, 2009
Aug. 13 ? The World Trade Organization (WTO) has ruled in favor of the United States on its complaint that China?s distribution restrictions on imported reading materials, audiovisual home entertainment products, DVDs, sound recordings and movies violated international free trade rules...

Visas May be Difficult to Obtain After September 15

Posted on August 13, 2009
SHANGHAI, Aug. 14 - Businessmen planning to visit China in the early?mid autumn period are advised that visas may be difficult to obtain for dates after September 15 due to the government’s 60th founding anniversary on October 1. The restrictions are likely to be in force for about four to six weeks...

Bank of East Asia Declares Interest in Shanghai Listing

Posted on August 13, 2009
SHANGHAI, Aug. 14 - Hong Kong?s third largest bank, the Bank of East Asia has declared interest in listing in Shanghai following news earlier this week that HSBC is also set to list in the city next year. BEA?s deputy chief executive, Brian Li, made the comments yesterday in Taiwan following a ceremony to rename the [...

Tax Breaks for Tobacco Promotion Over

Posted on August 12, 2009
Aug. 12 ? China?s Ministry of Finance and the State Administration of Taxation said in a circular that promotional spending by tobacco firms will no longer be eligible for tax breaks, effective until 2011. By that time, tobacco promotion in the country will already be banned...

HSBC Set to List in Shanghai

Posted on August 12, 2009
By Chris Devonshire-Ellis Aug. 12 - HSBC is set to list their operations in the Shanghai stock market in a move that would see them return to their roots. The bank was founded by Thomas Sutherland and was called the Hongkong and Shanghai Banking Company Limited...

New Stamp Duty Policy in Guangdong

Posted on August 12, 2009
GUANGDONG, Aug. 13 - The Guangzhou local tax bureau issued a notification last July 16 authorizing it to check and collect stamp tax beginning August 1. The period of the rate paying is one month, and the tax payer should be clarify and pay the tax before the 15th next month.

Singaporean Business in China, a Continuing Partnership

Posted on August 11, 2009
By Emma Xu SHANGHAI, Aug. 11 - Singaporeans have a long history of doing business in China. Formal diplomatic relations between China and Singapore began in 1990 and helped further enhance this relationship as the Chinese market became more open to Singaporean companies...

Training Costs May Be Paid by Employees

Posted on August 10, 2009
Aug. 10 ? China?s Legislative Affairs Office of the State Council has released a draft regulation for public comment regarding training fees that may need to be paid for by employees. According to the China Daily, around 1.5 to 2.5 percent of employees’ salary will be set aside for the training fees...

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