MAINLAND CHINA

Mainland Automotive Sector Set for RMB200 Billion Boost

23 June 2022

As part of ongoing moves to drive economic recovery, the State Council’s 22 June executive meeting adopted a range of measures designed to deliver an uptick in automobile sales. More

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China Extends Full VAT Credit Refunds to More Sectors

23 June 2022

China will extend the policy of refunding VAT credits in full to more sectors starting from July, according to a statement issued by the Ministry of Finance and the State Taxation Administration. More

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Implementation Strategy for the New US Forced Labour Prevention Act

22 June 2022

The Forced Labor Enforcement Task Force has unveiled a strategy to implement the Uyghur Forced Labor Prevention Act. This, combined with CBP’s operational guidance, provides the framework by which the US government began full implementation of the legislation effective 21 June 2022. More

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Hong Kong helps Shanghai to reopen

22 June 2022

The lockdowns in the Yangtze River Delta region during the April COVID-19 outbreak put a damper on economic activity and, inevitably, impacted many of the activities of Hong Kong investors in the region. With the pandemic situation in the region gradually stabilising, Shanghai has initiated a phased resumption of business activities, while the municipal government has looked to introduce additional measures aimed at preventing future infection clusters, bolstering enterprises and promoting the region’s overall development. More

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Chengdu-Chongqing Economic Circle: Consumer Market and Social Development

20 June 2022

The Chengdu-Chongqing region is a promising consumer market full of potential. It has a population of more than 96 million, and has been showing a higher growth rate than the national average in recent years in terms of GDP, household income and total retail sales of consumer goods. Businesses looking to take advantage of the opportunities presented by the upgrade of the local consumer market should find new impetus for corporate growth. More

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Operational Guidance for the New US Forced Labour Prevention Act

17 June 2022

The new Uyghur Forced Labour Prevention Act (UFLPA), signed into law on 23 December 2021, will come into effect on 21 June 2022. This article details the operational guide for traders issued by the US Customs and Border Protection. More

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China Expands Cross-Border Financing for High-Tech and Innovative Enterprises

17 June 2022

The State Administration of Foreign Exchange recently announced the launch of a pilot scheme for the cross-border financing of high-tech companies and those falling under the country’s push for so-called “specialised, sophisticated and new” small and medium-sized enterprises. More

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State Council Looks to Enhance Private Investment Options

16 June 2022

A range of measures aimed at supporting private investment, driving consumption and bolstering employment were adopted at the State Council’s 15 June executive meeting. More

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China Unveils New-Energy Development Plan

16 June 2022

The implementation plan for promoting new-energy development released recently by the State Council sets the target of increasing the total installed capacity of wind and solar power to over 1.2 billion kilowatts by 2030. More

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China Issues Guidelines for Tax Refunds and Tax and Fee Reductions

16 June 2022

The State Taxation Administration’s (STA) guidelines for policies of tax refunds and tax and fee reductions in 12 sectors are now available for download from the STA’s website. More

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