The cost of registering a trademark is to be cut by 50% with immediate effect, according to a new ruling by the Trademark Office, a subsidiary division of the State Administration for Industry and Commerce (SAIC). The change was confirmed in a joint communique (Caishui No. 20 ) issued by the Ministry of Finance and the National Development and Reform Commission. More
Vietnam has a great demand for modern logistics services to support its processing industries as well as food and aquaculture businesses. Hong Kong’s logistics firms are well positioned in tapping the rising demand in Vietnam for integrated logistics services, especially those opportunities resulting from the expansion of Vietnam-China trade. More
Lijiang has a rather big agricultural sector that supports the food processing industry in the city. Other major industries include coal mining, electricity, and building materials. The service sector is the largest economic contributor to Lijiang, accounting for 45% of the GDP in 2015. Tourism is the most important pillar of the service sector. The city has been listed as a World Cultural Heritage since 1997 by UNESCO.
The random inspection of a range of import and export commodities not subject to statutory checks is to begin with immediate effect, according to a statement from the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ). More
Industry accounted for 26% of the GDP in 2015. Major industries include tobacco, metallurgy, mechanical and electronic integration, and pharmaceuticals. The service sector is the largest economic contributor to Kunming, accounting for 55% of its GDP in 2015. Tourism is the most important pillar of the service sector. Dianchi Lake and the stone forest are key tourist attractions of Kunming.
Revised Guidelines for Patent Examination have now been issued by the State Intellectual Property Office. These new regulations have been designed to both boost China’s bid to develop a more innovation-driven economy and to bring the country’s patent approval system into closer alignment with international norms. More
As part of continued moves to replace business tax with value-added tax (VAT), while streamlining the overall VAT structure, as of 1 July 2017, the four existing VAT brackets will be reduced to just three - 17%, 11% and 6%. The current 13% tax bracket is to be abolished, with the tax rate for such products as agricultural items and natural gas reduced from 13% to 11%. More
The establishment of pilot free trade zones represents China's major move to adopt a more proactive strategy of opening up in line with the new trend of global economic development. The State Council has so far approved pilot free trade zones (FTZs) for Shanghai, Tianjin, Guangdong, Fujian, Liaoning, Zhejiang, Henan, Hubei, Chongqing, Sichuan and Shaanxi. More
The Ministry of Finance has released three new accounting standards – Accounting Standards for Enterprises No. 22: Recognition and Measurement of Financial Instruments, Accounting Standards for Enterprises No. 23: Transfer of Financial Instruments and Accounting Standards for Enterprises No. 24: Hedging Accounting. More
Officially launched on 1 April 2017, the Henan Pilot Free Trade Zone (FTZ) forms part of the third batch of government-endorsed pilot FTZs. Covering an area of 119.77 sq kilometres, the zone is broken down into three sub-zones: Zhengzhou Area (73.17 sq kilometres, inclusive of the Henan Zhengzhou Export Processing Area A (0.89 sq kilometres) and the Henan Bonded Logistics Centre (0.41 sq kilometres)), Kaifeng Area (19.94 sq kilometres) and Luoyang Area (26.66 sq kilometres). More