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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 Industry: Jun. 24

Posted on June 23, 2009
Jun. 24 - This is a regular series of relevant industry news from around China. Solar power Nanjing-based solar cells manufacturer China Sunergy said it had entered into a 53 MW sales framework agreement with solar modules manufacturer Renergies Italia...

Higher Tobacco Taxes Imposed

Posted on June 22, 2009
Jun. 22 ? China?s Ministry of Finance and the State Administration of Taxation (SAT) has announced higher taxes on tobacco products to increase state revenue. Cigarette cartons that cost RMB70 or more will be taxed from 45 percent to 56 percent while cartons costing less than below RMB70 will be taxed from 30 percent to [...

Caution over China?s GDP Figures, 2010 is the Real Test

Posted on June 22, 2009
Commentary: China ?Not Yet? Engine for World Growth By Chris Devonshire-Ellis Jun. 22 - Seeing the World Bank raise their expectations for China?s GDP growth for 2009 as a whole last week was encouraging news. Raising the anticipated growth level from 6...

New Censorship Rule Worries the United States

Posted on June 22, 2009
Jun. 22 - In a rare move, the United States has submitted a complaint regarding China’s new plan to tighten internet censorship by requiring that all PCs in the country be preloaded with web-blocking software. Representatives from the U.S. embassy in Beijing recently met with China?s officials to discuss the issue...

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More Export Tax Cuts Announced for Next Month

Posted on June 22, 2009
Jun. 23 ? China will implement more tax cuts next month to help the struggling export market. The substantial cuts will cover around 100 categories of goods that include fertilizers and agricultural products. One example of a deep tax cut is the discount on phosphate fertilizer now set at 10 percent from the previous 75 percent...

Pudong to Allow Foreign Investors to Set-up Equity Investment Management Company

Posted on June 19, 2009
SHANGHAI, June. 19 - Shanghai?s Pudong local government is now allowing foreign investors to set-up an equity investments management company until June 30, 2010. The new regulation is limited to the Pudong area and can be applied via a cooperative joint venture, equity joint venture or a wholly foreign-owned enterprise given the following conditions: (a) At least one [...

World Bank Raises China?s Growth Forecast to 7.2 Percent

Posted on June 18, 2009
Jun. 18 ? In its China Quarterly Update, the World Bank changed its economic growth forecast for China from 6.5 percent to 7.2 percent on account of its stimulus package fueling an investment boom. While China?s economy has continued to feel the brunt of the global crisis, very expansionary fiscal and monetary policies have kept the [...

New ?Buy Chinese? Policy Risks Tension, Protectionism

Posted on June 17, 2009
Jun. 17 ? Beijing has introduced a new ?Buy Chinese? policy that could agitate foreign trade relations and encourage protectionism. The new policy outlines that only Chinese products and services may be used for government procurement except when certain products or services are not available within the country or could not be bought on reasonable [...

First Bioenergy Research Center Opens in Nanning

Posted on June 16, 2009
Jun. 16 ? The country?s first bioenergy research center was launched last Sunday in the Guangxi Zhuang autonomous region?s capital city of Nanning as part of Beijing?s new energy development plans. The research center aims to find ways to effectively use cassava, sugar cane and sweet sorghum for new energy development; commodities that are abundant in [...

U.S. Company Claims China?s Web Blocking Software Contains Pirated Code

Posted on June 15, 2009
Jun. 15 ? U.S. company, Solid Oak Software of Santa Barbara, is claiming that parts of China?s state sanctioned web blocking software called “Green Dam-Youth Escort” in English have been stolen from the company?s own filtering software. Early this month, it was reported that Beijing would require that all personal computers sold in the country be [...

Exports Drop Further, Stimulus Spending Fuels Economy

Posted on June 12, 2009
Jun. 13 - China’s exports for May plunged lower by 26.4 percent compared to last year; decreasing trade surplus to US$13.39 billion. The May figures maintain the trend of slowing activity, with April exports also declining by 22.6 percent. The figures show that now more than ever, China’s economy is fueled by growth funded by its [...

China Industry: Jun. 11

Posted on June 11, 2009
Jun. 11 - This is a regular series of relevant industry news from around China. Solar power Shi Lishan, vice director of the National Energy Administration’s Renewable Energy Department, said that the country will implement a tariff of RMB1.09 per kWh for solar power in a bid to make this type of renewable energy more competitive...

Beijing Eases Foreign Investment Rules for Chinese Companies

Posted on June 11, 2009
Jun. 11 - Beginning August 1, Chinese companies can now use their foreign exchange funds or buy from the state reserve to fund overseas ventures; easing rules for overseas investments. According to the State Administration of Foreign Exchange (SAFE), previously only large multinational companies were allowed to use their forex funds to lend to overseas ventures...

OZ Minerals Sells Assets to China Minmetals for US$1.39 Billion

Posted on June 11, 2009
Jun. 12 ? Melbourne-based OZ Minerals has approved the sale of its assets to China Minmetals Group for US$1.39 billion in an effort to cut debt and secure future operations. OZ Minerals will use the money from the sale to pay its AU$1.1 billion debt and fund expansion of the Prominent Hill mine located in South [...

Yahoo to Open Global R&D Center in Beijing

Posted on June 10, 2009
BEIJING, Jun. 10 - American internet giant Yahoo has announced that it will open a global research and development center (R&D) in Beijing focusing on research on search, advertising, cloud computing, and other personal internet tools and technologies...

Shenzhen Releases New Procedures for Working Permit Application

Posted on June 09, 2009
SHENZHEN, Jun. 9 - Last April 17, Shenzhen Social Security Bureau came out with simplified procedures for working permit applications for foreigners. The changes from the previous 2005 regulations are as follows: a.) the position of the foreigner shall fulfill the special needs of the company, and that there is currently no such candidate in Shenzhen, namely, [...

Around Asia: June 9

Posted on June 09, 2009
Jun. 9 - A weekly look at important regional news. India Protests Fake Chinese Drugs Labeled ?Made in India? New Delhi has lodged a protest to the Chinese mission in Nigeria and China?s foreign trade ministry because of a large seizure of fake anti-malarial generic pharmaceuticals labeled `Made in India? were actually found to have been produced [...

More Export Tax Rebates Announced

Posted on June 09, 2009
Jun. 9 ? China?s Ministry of Finance has announced higher tax incentives covering more than 600 export items beginning this month. Sewing machines and air conditioners are qualified for the full tax rebate of 17 percent, and items like juice, furniture and toys will be raised to 15 percent...

Gov?t Wants Censor Software on All PCs Sold in China

Posted on June 08, 2009
Jul. 8 - Beijing is planning to require that all personal computers sold in the country starting July 1 include preloaded software that blocks access to websites deemed inappropriate by censors. The software whose name translates to “Green Dam-Youth Escort” in English would connect PCs with a database of banned sites then block access to those [...

China Eastern, Shanghai Air to Merge

Posted on June 08, 2009
Jun. 8 - State-owned China Eastern Airlines and Shanghai Airlines are in talks to consolidate assets in a tentative merger deal. Although both carriers are now operating at a loss, the merger will give them control of more than half the market share in Shanghai...

China?s Africa Strategy Blossoms as Relationship Develops

Posted on June 08, 2009
AP PHOTO By Chris Devonshire-Ellis NAIROBI, Jun. 8 -China has stepped up its foreign policy of friendship and trade with Africa this year as it seeks to further strengthen its ties throughout the continent. With President Hu Jintao having already visited Mali, Senegal, Tanzania and Mauritius, China announced a new Beijing summit of African nations aimed at [...

Rio Tinto Rejects Chinalco Bid

Posted on June 05, 2009
Jun. 5 ? The world?s third- largest mining company, Rio Tinto Group, has rejected Chinalco?s US$19.5 billion bid; opting to raise US$15.2 billion through a share offering. Rio Tinto and its former rival BHP Billiton are forming a 50/50 joint venture that will consolidate all their iron ore assets in Western Australia and save them more [...

New Food Safety Law Effective this Month

Posted on June 04, 2009
Jun. 4 ? China?s new Food Safety Law China went into effect beginning this month. The law integrates stringent food safety standards to make supervision easier and will require new food licenses for businesses. Food suppliers who already obtained a food sanitation license prior to June 1 can still use the license until expiry date...

Chinese Company Buys GM?s Hummer Brand

Posted on June 03, 2009
Jun. 3 - General Motors has announced tentative plans to sell its Hummer brand to Chinese industrial machinery firm, Sichuan Tengzhong, although details of the sale are still pending. The deal will give Tengzhong brand rights and management of existing dealer agreements in addition to saving 3,000 jobs in the United States...

Chongqing to Build Inland Free Trade Area

Posted on June 03, 2009
Jun. 4 - Chongqing Municipality located in southwest China has begun building a free trade area, the first of its kind to be located deep inland. The Cuntan Bonded Area is strategically found between the Cuntan Harbor and the Jiangbei International Airport...

Around Asia: June 2

Posted on June 02, 2009
Jun. 2 - A weekly look at important regional news. First Deepwater Container Terminal Opens in Vietnam Vietnam?s first deep-water container terminal was inaugurated last Saturday in the southern province of Ba Ria-Vung Tau. (Vietnam Briefing) India?s Manufacturing Expands for Second Month in a Row A recent survey reported that manufacturing activity in India grew for the second straight [...

China Industry: June 2

Posted on June 02, 2009
Jun. 2 - This is a regular series of relevant industry news from around China. Air transport Hainan Airlines booked a loss of RMB1.4 billion for 2008. The company blamed the loss on the high oil prices and decreased demand. Separately, the company also received government aid worth RMB3 billion from the local Hainan Provincial Government [...

New Issue of China Briefing Examines Repatriating Profits Out of China

Posted on June 01, 2009
June 1 - The June issue of China Briefing magazine is online and available for download (complimentary subscription available). At the end of the day, it?s all about making money, and that is where sound strategic planning for maximization and repatriation of profits becomes so important in China...

Guidelines for Managing Large Enterprise Tax Risk Released

Posted on June 01, 2009
June 1 ? China?s State Administration of Tax released a guideline last month for how large enterprises should manage tax risks in the current economy. Released on May 5, Guoshuifa (Tax Circular) No. 90, ?China SAT Guide for Large Enterprises to Manage Tax Risks,? provides guidance for large enterprises regarding their overall corporate tax compliance and [...

Shanghai to Spend US$45 Billion for Expo

Posted on May 31, 2009
SHANGHAI, May 31 ? Shanghai is sparing no expense to make next year?s World Expo the most expensive one yet at US$45 billion, more than the money spent for the Beijing Olympics. The city is pushing through plans to upgrade infrastructure and build new transportation links despite the ongoing credit crisis...

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