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China Issues Revisions on Company Registration Rules

China Issues Revisions on Company Registration Rules

China’s State Council disseminated Order No. 648 (“Order 648”) last Friday in a move towards further implementing the recently revealed business registration reform scheme. The Order, signed by Premier Li Keqiang, abolished two administrative regulations pertaining to capital contribution requirements for Sino-foreign joint ventures, and revised eight regulations regarding capital contributions upon incorporation.   The [...]

Mar 6 2014, 1:40 pm | Posted in Investment Relations | Read More »

China to Lower Incorporation Requirements

China to Lower Incorporation Requirements

China is to further lower the requirements for registering new businesses in China, the State Council, China’s cabinet, recently revealed their scheme for the reform in business registration. The scheme is a vigorous move in executing the objectives determined in the Third Plenum last year to establish an open and competitive market. Decisions made in [...]

Feb 26 2014, 11:18 pm | Posted in Investment Relations | Read More »

Establishing a VAT Monitoring System for China

Establishing a VAT Monitoring System for China

China has rapidly implemented value-added tax reform over the last two years, and it has pledged to complete the reform by finally extending it even to the financial services and real estate industries by 2015.   While value-added tax systems have grown in popularity worldwide over the last thirty years as a new source of [...]

Feb 20 2014, 9:51 pm | Posted in Taxation | Read More »

China’s Relationship with the Contentious U.S. FATCA

China’s Relationship with the Contentious U.S. FATCA

For several years now, the United States has been preparing legislation under the Foreign Account Tax Compliance Act (FATCA), a complex reporting and withholding regime intended to enable the U.S. to better access offshore accounts, investments and income of U.S. citizens who have failed to rigorously report these holdings. Despite several nations’ embrace of the [...]

Feb 14 2014, 6:55 am | Posted in Taxation | Read More »

Bitcoin Exchange BTC China Resumes RMB-Based Deposits

Office Premise Requirements for WFOE, FICE and RO Registration in China

Bobby Lee, CEO of the Bitcoin exchange BTC China, has announced that customers are once again able to purchase Bitcoin by depositing RMB directly into the company’s corporate bank account.   The decision by BTC China comes after the exchange stopped accepting RMB deposits in response to a Dec. 5 memo from the People’s Bank [...]

Feb 10 2014, 8:35 am | Posted in Investing | Read More »

China Approves 12 New Regional Free Trade Zone Proposals

China Approves 12 New Regional Free Trade Zone Proposals

Within less than four months since the launch of the Shanghai Free Trade Zone (FTZ), China’s State Council has approved 12 more regional FTZs, reported on Wednesday by Economic Information Daily (EID), a news agency directly supervised by the state owned Xinhua News Agency.   According to the authoritative source cited by EID, local governments [...]

Jan 28 2014, 9:04 pm | Posted in Investment Relations | Read More »

Looming Trust Fund Default Increases Scrutiny of China’s Financial Industry

Looming Trust Fund Default Increases Scrutiny of China's Financial Industry

A looming trust product default of 3 billion RMB (approximately US$500 million) recently raised concerns about the regulatory system of China’s financial industry. The product in question was issued by Looming Trust Fund Default Increases Scrutiny of China’s Financial Industry., with funds mostly invested in the assets of an unlisted Chinese coal company that has [...]

Jan 27 2014, 3:13 pm | Posted in Investment Relations | Read More »

China Amends Its Company Law

China Amends Its Company Law

With the aim of stimulating social investment and entrepreneurship, China’s National People’s Congress adopted the “Amendment to the Company Law of People’s Republic of China” (hereinafter referred to as ‘Amendment’) on December 28, 2013, which has lowered the company establishment requirements and reformed the company capital registration regime. Detailed information can be found below.   [...]

Jan 15 2014, 10:20 pm | Posted in Investment Relations | Read More »

China Specifies Preferential Tax Policies for Animation Industry

China Specifies Preferential Tax Policies for Animation Industry

To encourage and support the development of China’s animation industry, the Ministry of Finance (MOF) and  State Administration of Taxation (SAT) jointly disseminated the “Notice Concerning Value-Added Tax (VAT) and Business Tax (BT) Policies of Animation Industry” (Caishui [2013] No. 98, hereinafter referred to as “Circular 98”) in November, 2013. Circular 98 clarifies the preferential [...]

Jan 12 2014, 11:49 pm | Posted in Business,Investment Relations | Read More »

Shenzhen to Hike Minimum Wage Levels

Shenzhen to Hike Minimum Wage Levels

Shenzhen human resource officials announced last week that the city will raise its monthly minimum wage level by 13 percent to RMB1,808 from February 1, 2014, while its hourly minimum wage will be adjusted from RMB14.5 to RMB16.5.   The new minimum wage standards are expected to benefit about 936,000 workers in Shenzhen, according to [...]

Jan 7 2014, 5:32 pm | Posted in Business,Featured,Human Resources | Read More »

The Contributor

China Briefing hosts a wealth of business intelligence on legal, tax, and operational issues in China from a practical perspective. Knowledge, expertise and commentary for China Briefing is regularly contributed by Dezan Shira & Associates´ professional legal and tax staff. Currently located in Futian district, Dezan Shira & Associates has been assisting foreign companies in Shenzhen for 22 years.

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