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China Regulates Cargo Owners’ Investment into Domestic Shipping Industry
China is tightening regulations on investment by cargo owners into the country’s domestic shipping industry in a bid to avoid excess competition amid the continuing global shipping downturn.
Shenzhen and Xiamen Further Encourage Equity Investment
Local governments of several Chinese coastal cities are offering further incentives to equity investment enterprises, as private equity (PE) investment has emerged as one of the most important capital-raising avenues for small and medium-sized enterprises in those areas.
Banks Obtain More Incentives for Loan Offers to Small Businesses
Chinese authorities recently issued new regulations in a bid to encourage more loan issuance to small enterprises and improve the quality of financial services provided to them.
China Lifts Tax-free Thresholds for Business Tax and VAT Collection
As part of its “structural tax reform,” China has decided to raise the tax-free thresholds for business tax (BT) and value-added tax (VAT) collection starting from today, in a bid to reduce tax burdens for enterprises, especially for small businesses.
China’s Software Developers Can Enjoy VAT Refunds
Starting from January 1, 2011, enterprises which develop their own software products or redesign imported software products can have part of their value-added tax (VAT) refunded, said China’s State Administration of Taxation (SAT) and Ministry of Finance recently.
Shanghai to Offer Incentives to Shipping-Related Industries
As a city striving to become an international shipping center, Shanghai is brewing a complete package of favorable policies for its shipping-related industries. The new policies are hoped to significantly bring down shipping companies’ tax liabilities to levels similar to the shipping tax burdens seen in Hong Kong, experts say.
Financial Institutions Eligible for Stamp Duty Exemptions
Following the Chinese State Council’s call for providing more financial support to cash-strapped small enterprises under the country’s tightening monetary environment, the State Administration of Taxation and Ministry of Finance recently co-issued a new circular that will grant favorable tax treatment to financial institutions when they offer loans to small enterprises.
China to Commence Pilot Project for VAT Reform in Shanghai
Chinese Premier Wen Jiabao held a State Council Executive Meeting on October 26 which reached the decision to commence a pilot project within the Shanghai Municipality for the deepening of VAT reform.
Shenzhen Introduces Favorable Policies to Promote E-commerce Development
Shenzhen was approved by China’s National Development and Reform Commission and the Ministry of Commerce to be the first e-commerce model city in September 2009, following the State Council’s issuance of “Certain Opinions on Accelerating the Development of E-commerce (Guobanfa [2005] No. 2)” in 2005, which provided general guidance for the development of e-commerce in China.
China to Impose Anti-dumping Duties on US and EU Caprolactam Imports
China will start levying anti-dumping duties on imports of caprolactam – an organic compound that is used in the manufacturing of synthetic fibers – from the United States and the European Union, according to the Chinese Ministry of Commerce (MoC).
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