MAINLAND CHINA

Mainland China Food Imports: Putting E-Commerce on the Menu

27 July 2022

With the impact of the Covid-19 pandemic, mainland consumers are eager to buy quality products on cross-border e-commerce platforms. Since products purchased through cross-border e-commerce are subject to simpler and easier customs clearance processes enforced by the mainland customs authority, Hong Kong food industry players can use the e-commerce retail model to test the water of the mainland market. More

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Trade Provisions Cut from Mainland China Bill, Could See Action Later this Year

26 July 2022

The trade community will have to keep waiting for congressional action on import tariff relief, low-value import rules, supply chain improvements, forced labour and other trade-related issues after the Senate moved to drop them from a competitiveness bill that lawmakers are now hoping to get to the president’s desk within a matter of weeks. More

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Qianhai Announces Details of Support Funds for Various Service Sectors

22 July 2022

According to a notice issued by the Qianhai Authority on the promotion of trade, modern logistics, shipping services and commercial development in the Qianhai Shenzhen-Hong Kong Modern Service Industry Co-operation Zone, from 15 July qualifying entities are eligible for support funds of between RMB3 million and RMB30 million a year over the next three years. More

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China Optimises Covid-19 Control Measures for Cold-Chain Food Imports

22 July 2022

The General Administration of Customs has said it will carry out coronavirus tests on imported cold-chain food products, verify their compliance with the pollution control measures adopted by the exporting countries and regions, and make sure that they conform with China’s import requirements. Policies such as requiring rectification within a specified time limit, import suspensions and cancellation of registration will be used to deal with overseas enterprises found to have problems. More

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GBA Supports Marketing of Drugs and Registration of Medical Devices from Hong Kong and Macao

21 July 2022

The National Medical Products Administration recently unveiled plans to support Hong Kong and Macao-registered operators to produce drugs and medical devices in the Greater Bay Area (GBA). The aim is to promote the integration of the GBA’s biomedicine sector, and to spur collaborative development in the GBA’s medical and pharmaceutical sectors. More

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China to Adopt New Rules for Cross-Border Data Transfers in September

21 July 2022

New Measures for Security Assessments in Cross-Border Data Transfers will come into force on 1 September. Under these measures, security assessments for such transfers are required of any operators that process the personal information of more than 1 million individuals, or that transfer important data or sensitive personal information out of China. More

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Hengqin Rolls Out Relief Measures for Hard-Hit Market Entities

21 July 2022

The Hengqin Guangdong-Macao In-Depth Co-operation Zone recently announced a raft of relief measures to help pandemic-stricken market entities. These measures, which include reducing the cost of water, energy consumption and disinfection, encouraging rent reductions and launching special campaigns to promote consumption, are valid until the end of the year. More

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ETFs Subject to Mainland-Hong Kong Stock Connect Tax Policies

21 July 2022

The trading of eligible Exchange Traded Funds (ETFs) is now subject to existing tax policies following the inclusion of such funds in the Mainland-Hong Kong Stock Connect on 4 July. According to a circular issued by mainland financial authorities on 30 June, the China Securities Depository and Clearing Corporation Ltd (CSDC) is responsible for withholding the individual income tax payable on the income obtained by mainland investors from their Hong Kong funds. More

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Shanghai Unveils Action Plan for Development of Green and Low-Carbon Industries

21 July 2022

Under Shanghai’s action plan for promoting the development of green and low-carbon industries, the scale of these sectors is projected to exceed RMB500 billion in value by 2025. The megacity will focus on the development of high-end industries, as well as the development of industrial clusters, trading in carbon emissions rights and carbon finance, and innovation around carbon financial derivatives. More

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China to Expand Automotive Consumption

21 July 2022

Seventeen government departments, including the Ministry of Commerce, recently released a raft of measures aimed at expanding the consumption of automobiles. Steps are to be taken to support the purchase and use of new-energy vehicles, invigorate the used car market, boost spending on vehicle upgrades, promote the sustained and healthy development of parallel auto imports, and increase auto financing services. More

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