China Foreign Investment Hot News (2007.10～2008.05)

The laws and regulations in China are revised and modified from time to time. The policies of foreign investment in 2008 have undergone great changes. The Company Law and the Labor Law are revised, and the related laws and regulations are adjusted accordingly.
This topic summarizes a collection of foreign investment information from SMERT, the Ministry of Commerce, SAIC, the Tax Bureau and other related departments. It provides insight into industry policy, investment information, and rules & regulations in relation to foreign investment in China.

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Useful Articles:

• The Ministry of Commerce Promulgates the Opinions on the Guidance of Attracting Foreign Investment in 2008 to Guide Qualified Foreign Invested Enterprises Getting Listed in China
• Italy Provides Financial Aid to the Reconstruction of Old Factories for the Construction of UBPA Plan
• The American Chamber of Commerce People’s Republic of China Promulgated the White Paper of American Enterprises in China 2008
• Measure for the Administration on Verification of New and High-tech Enterprises Promulgated
• State Administration of Taxation Promulgate the Measures for Tax Payment of Multi-Regional Enterprises
• Rhodia R&D Center Settled in Shanghai
• Proper Amount of Foreign Investment is Allowed in the Performing Market of China
• State Administration of Taxation Promulgated the Measures for the Punishment of Enterprises Committing Defrauding Tax Refund
• Investment Enterprise with Foreign Investment Gaining Financial Support
• Absorbance of Contractual Foreign Investment Increased by 18.8% in the First Quarter
• GM Building $250 Million China Park in Jinqiao of Pudong District
• Shanghai World EXPO Says “No” to Irresponsible Suppliers
• Dell to Increase Its Purchase to 23 Billion US Dollars in China
• Measures of the Customs for Adopting Classified Administration over Enterprises (Revised) Start Implementation Shanghai Customs Took the Lead
• First Three Service Outsourcing Special Parks Emerge in Shanghai
• Total Investment of Foreign-funded Enterprises Reaching 2 Trillion US Dollars
• Nemko Establishes the First Wholly Foreign-owned Certification Enterprise in China
• Import and Export of Shanghai Foreign-funded Enterprises Increased by 22.31% in the First Two Months
• Dubai to Establish the Most Expensive Hotel in Shanghai
• Absorbance of Contractual Foreign Investment Increased by 9.05% in the First Two Months
• China Ranks Ninth in Attracting Foreign Retailers
• Threshold of individual income tax up to 2000 RMB per month
• Tax Administration Clarify the Issues in Handling the Tax of Foreign-funded Enterprises and Foreign Enterprises
• Mecoxlane obtains $80 million of investment from Sequoia Capital
• Joint Annual Inspection for Foreign-funded Enterprises Starts
• Bestbuy to Expand in China
• Actual Use of Foreign Investment Increase by 109.78% in January
• The Supplementary Provisions of the Interim Measures for the Administration of Chinese-foreign Joint Venture and Cooperative Medical Institutions Promulgated
• Shanghai Lingang Industrial Zone Attracts More than 60 Projects with Investment of 30 Billion
• The Ministry of Finance Adjusts Import and Export Duty of Some Products
• Export and Import of Foreign-Funded Enterprises in Shanghai Increased by 24.92% in January
• Rapid Development of Enterprises in the Logistic Park of Waigaoqiao Bonded Zone in 2007
• USA Private Fund Arsenal Capital Established the First RO in China
• The Biggest British retailer---TESCO is to Open Convenient Store in Shanghai
• New Measures of the Customs for Adopting Classified Administration over Enterprises Promulgated
• BP Shanghai Office Established, Increasing Investment in China
• Over 826 Enterprises Engaging in International Service Outsourcing Business in China
• Issuance of Measures for the Administration on Tax Exemptions for Exported Goods of Small-scale Taxpayer of VAT (Try-out)
• First Taiwan-funded Property Insurance Company Settled in Shanghai
• Export and Import Value of Foreign-funded Enterprises of Shanghai Increased by 25.93% in 2007
• Shanghai Chemical Industry Zone Attracting Investment over 10 Billion US Dollar, Environmental Protection projects accounting for 12% of the Total Investment
• Rental Fees of Shanghai CBD Raised, Lessees Shifting to Non-central District
• Central Bank Raises Deposit Reserve Ratio by 0.5 Percentage Points from Jan. 25th
• Container Handling Capacity of Shanghai Port Exceeded Hong Kong and Leapt to No.2 in the World for the First Time
• The Actual Use of Foreign Investment of China Increased by 13.8% in 2007
• The Actual Paid Foreign Investment in 2007 Increased by 11.4% in Shanghai
• The Threshold of Individual Income Tax Adjusted to 2000 RMB Per Month
• Shanghai Custom Realized 60% of Export Customs Declaration with No Paper Customs Passage in 2008
• Transitional Preferential Policies concerning Enterprise Income Tax
• Sino-Japanese Medical Development Company Established in Shanghai
• Shanghai is the First Choice for Asia-Pacific Headquarter of Multinational Corporation
• SSP International Restaurant Group
• Shanghai Port: Work without Paper in Declaration of Hazardous Trading goods on Ship
• Securities Joint Venture Come into a New Life-The new rule lowers the threshold for foreign investors
• The Salary Payout of Enterprise can be Deducted before Income tax
• Value of Import and Export of FIEs Increased by 25.39% in Shanghai
• Regulations for the Implementation of Enterprise Income Tax Law promulgate
• Actual Utilization of Foreign Capital Increased by 11.8%
• Regulations on Travel Agencies (Opinions Soliciting Draft) Allows Wholly Foreign Owned Travel Agencies
• The Beauty of Shibei Industrial Park Attracts the Headquarter of Multinational Group
• Service Suppliers from Hong Kong and Macao Allowed to Establish Joint Ventured Intermediary Institution of Talents in Mainland
• The New Revised Version of Interim Regulations of People’s Republic of China on Farmland Occupation Tax Publishes
• Minhang District Wins the Title of “Best City for Investment of Multinational Companies”
• Top Brand of Asia Opening Its First Boutique in Shanghai
• ProLogis, Land Property and Industry Tycoon, Building Logistics Center in Shanghai
• Nihon Denkei Technology R&D Center Opening in Shanghai
• Limits on Foreign Investment in Service Sector to be Eased
• The Global Headquarter of Honeywell Electronic Materials Moving to Pudong, as the Third Global Head Offices of Multinationals in Shanghai
• Supplementary Provisions to the Provisions on the Administration of Foreign-Funded civil aviation Enterprises Promulgated
• Brief
• Bayer’s Product Line of Polycarbonate Glass Fiber Taking into Production
• In the First 10 months, the Actual Utilization of Foreign Capital Increased by 11.15% in China
• In the First 10 months, the Actual Use of Foreign Capital Increased by 11.4%
• ABN AMRO Bank Enters Gubei District, and Opens its 18th Branch in China
• Q & A about Taxation
• Pudong International Airport Adopts New Exit-Entry Register Card
• Reduction or Remitting of Income Tax of Enterprise with Foreign Investment Needs no Approval from 2008
• China Welcomes Foreign Investors in Mineral Exploration
• Unicharm Daily Product (China) Company Increases Capital in Qingpu
• In the First 9 months, Contractual Foreign Investment Mounted $10.564 billion in Shanghai
• Saint –Gobain to establish a 100 million RMB Research & Development Center
• The Most Advanced Factory of Pharmaceutical Subsidiary Substances is Put into Production in Shanghai
• Shanghai HP Aircraft Engine Maintenance Corporate Laid Foundation
• Official Reply of State Administration of Taxation Concerning High- level Management Personnel without Domicile in China on the Applicable Formulas of Individual Income Tax
• Nippon Steel corp. Cooperating with Baosteel to Product Steels for Automobile
• The First Japanese Invested Consulting Company in Labor Relationship Opens in Shanghai
• The Second Stage of Heidelberg Qingpu Factory Completed
• Germany Northrhine-Westfalia Establishes Representative Office in Shanghai
• The Chinese-foreign Joint Venture Gas Station first Opens in Shanghai
• In the First 9 Months, the Value of Import and Export of Foreign-funded Company Increased 26.76%
• BASF Set up Technology Center for Automobile Products in Shanghai
• Circular on Several Issues in the implementation the Accounting Standards for Business Enterprises concerning Enterprise Income Tax

Laws & Regulations