China News

Archive for the ‘Business’ Category

According to reports in local Taiwanese local, the Taiwan-based operation of franchise convenience store retailer FamilyMart plans to open at least 100 new stores in Shanghai in 2010.
Having focused on the urban areas of Shanghai, FamilyMart will accelerate its expansion in villages and towns in non-central areas of the city, to realize its expansion goal.
As [...]

Mar. 8 – Whether or not it is an appropriate time to launch a property tax and curb skyrocketing housing prices in China has aroused hot debate at the annual sessions of the National People’s Congress, China’s top legislature, and the Chinese People’s Political Consultative Conference, the top advisory body.
China reintroduced a nationwide real estate [...]

Mar. 9 – Morgan Stanley is divesting its mainland China property assets and has sold off US$700 million worth of assets in the past year, the latest being its 50 percent holding in a Foshan residential project, which it has sold back to the developer for US$25million.
Other sales that have taken or are taking place [...]

Mar. 9 – China is set to permit private investors to take a role in mainland publishing, the first time this will be permitted since the Communist party came to power in 1949.
China’s General Administration of Press and Publication stated last year that it would dilute the monopoly held by state publishing companies and to [...]

Op/Ed Commentary: Chris Devonshire-Ellis and Richard Hoffmann
Mar. 9 – With foreign company representative offices coming under intense scrutiny at the present time due to the changes in tax treatments levied from January 1, 2010, pressure is now on the chief representatives of China-based ROs to fully comply with tax audits and questions raised over their [...]

Yamada Denki, one of the largest electronics retailers in Japan, is planning to open a flagship store in China.
Yamada Denki has signed an agreement with Tianjin government agencies to open a flagship store of about 32,000 square meters in the Binhai High-tech Zone in Tianjin. The store will be the first flagship store of Yamada [...]

Data released by Macau Statistics and Census Bureau shows that Macau’s retail sales reached MOP22.11 billion in 2009, an increase of 16% over those of 2008.
The data shows that Macau’s retail sale saw a dramatic increase in the fourth quarter of 2009, reaching MOP6.48 billion, which was an increase of 28% over those of the [...]

Mar. 4 – Representative offices are no longer exempt from corporate income tax in China according to a recently issued circular by the State Administration of Taxation.
Guoshuifa [2010] No. 18, issued on February 20, 2010, explicitly stipulates that ROs shall pay corporate income tax on their taxable income, as well as sales tax and VAT, [...]

Mar. 5 – The Singapore Chamber of Commerce, the Danish Chamber of Commerce and the Israel Chamber of Commerce hosted an event on 2010 annual tax compliance and audit requirements for individuals and small and medium sized enterprises at the Westin Hotel in Beijing yesterday.
Keynote speaker Sabrina Zhang of Dezan Shira and Associates presented important [...]

Op/Ed Commentary:Chris Devonshire-Ellis and Richard Hoffmann
Mar. 5 – One symptom of the tightening of China’s economy and the impact of labor law is an increasing desire by Chinese employers to offset or reduce potential liabilities with their expatriate employees, such as expatriates employed by domestic Chinese companies being asked to establish an offshore company and [...]