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Business Alert – China



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Content provided by : Hong Kong Trade Development Council
Latest update: 1 Oct 2009 - Issue 10

Leader

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Unprecedented Measures in Support of SMEs
Under the Several Opinions on Further Promoting the Development of Small and Medium-sized Enterprises announced by the Chinese government, 29 unprecedented measures in eight major areas are put forward to boost the confidence of small and medium-sized enterprises (SMEs) in countering the global financial crisis...

Qualified SMEs Encouraged to Acquire Foreign Brands
According to Zhu Hongren, chief engineer and spokesman of the Ministry of Industry and Information Technology (MIIT), qualified SMEs are encouraged to invest abroad in acquiring brands...


Policy and Law

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PRD Enterprises Call for Supporting Policies
Since the second half of 2008, the central government has implemented a series of policies. Recently, the State Council has also introduced six measures to stabilise foreign demand. As the economy has still not fully recovered...

China Reduces Equity Ratio Restriction to Facilitate FIE Listing
According of Minister of Commerce Chen Deming, in order to further expand the scope for Sino-foreign cooperation, introduce new investment formats and optimise foreign investment structure, China is going to take steps to remove barriers ...

Expansion of Rmb Trade Settlement Pilots to be Considered
According to a responsible person of the People’s Bank of China (PBOC), enterprises are currently very enthusiastic about participating in cross-boundary Rmb trade settlement. In addition to Guangdong and Shanghai...

Rules on Forex Receipt and Payment to be Eased
The State Administration of Foreign Exchange (SAFE) has announced that building a stronger service culture and facilitating the foreign exchange receipts and payments by various types of market players will be the future focus of its work...

Reminder Service for Export Tax Rebate
The State Administration of Taxation (SAT) has recently issued a circular on introducing reminder service for export tax rebate. In a bid to further strengthen the task of managing export tax rebate and optimise tax rebate service...

China May Impose Pollution Tax on Cars
The central government is going to make greater efforts to promote energy-saving eco cars. At the 2009 China Automobile Industry International Forum entitled “Financial Crisis and the Adjustment and Revitalisation of the Automobile Industry” held recently...

Scope of Fixed Asset Input Tax Deduction Clarified
To resolve problems arising in the course of implementation, the State Administration of Taxation (SAT) announced the Circular on the Issue of Fixed Asset Input Tax Deduction on 9 September, setting out detailed regulations on the scope of fixed asset VAT input tax deduction...


Local Policy

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Guangdong: Social Insurance Subsidies for Enterprises Recruiting Graduates
Guangdong province has introduced several subsidy policies recently in a move to encourage employers to recruit fresh graduates. These include: qualified enterprises employing university graduates and which have duly paid social insurance premiums in full amount ...

Shanghai Pilots Reform of Classified Customs Clearance of Import Goods
Shanghai recently kicked off its pilot reform of classified customs clearance of import goods and the Pudong Customs was chosen to pilot the reform. Since the Shanghai Customs became the national pilot for the reform of classified customs clearance ...

Shanghai Maps out Work Procedures for Trade Facilitation
The Shanghai municipal commission of commerce recently released its Work Procedures for Trade Facilitation, clearly spelling out the duties of member units of the Joint Committee for Trade Facilitation...

Suzhou Announces Stimulus Plans for 10 Major Industries
Suzhou has put forward its own stimulus plans for 10 major industries to cope with the financial crisis and halt the economic decline. It is seeking to boost economic transformation and upgrade and build a rational modern industrial system ...

Liaoning Eases Requirements for Establishment of Enterprises
The Liaoning Provincial People’s Government recently announced a set of opinions formulated by the Liaoning Provincial Department of Industry and Commerce Administration on bringing into full play the role and functions...


Industrial Policy

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China Bans Sale of Imported Food without Chinese Labels
The State Administration for Industry and Commerce (SAIC) promulgated the Food Market Quality Control System on 2 September 2009. Under this new rule, food dealers are prohibited from selling imported food without Chinese labels or bearing Chinese labels that do not comply with relevant requirements...


Services Sector

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Foreign and Mainland Investors Eye Small Taiwan Banks
Rumours are rife in Taiwan’s financial market that many investors are inquiring about possibilities of mergers and acquisitions and equity participation in small Taiwan banks. Foreign and mainland companies are making positive steps to arrange their investment portfolio ...

SARFT Bans 11 Types of Commercials
The State Administration of Radio, Film and Television (SARFT) recently promulgated the Administrative Measures Governing the Airing of Advertisements on Radio and Television. The Measures stipulate that advertisements deliberately using wrongly written ...


Human Resources

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Beijing Extends Time Limit for Employment Subsidy
Enterprises with trouble in production and operation due to the global financial crisis that have enjoyed subsidies for stabilising employment for three months, six months or less than 12 months may apply to have these subsidies extended to up to 12 months cumulatively...

Fat Payout to Top Executives of Government Enterprises under Tabs
From now on, the basic annual salary of top executives of central government enterprises must be linked to the average salary of ordinary staff and workers. This may help curb the “sky-high” salary of the top executives of state-owned monopolies...


Key to Economy and Trade

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State Council to Reduce Industrial Overcapacity
Premier Wen Jiabao recently chaired an executive meeting of the State Council to study the deployment of measures to rein in overcapacity and duplicated projects in some sectors and guide the healthy development of industries...