MAINLAND CHINA

Legislation Could Result in U.S. Stock Exchange De-listing of Certain Mainland Chinese Companies

17 June 2020

The U.S. Senate recently passed legislation by unanimous consent that could lead to the eventual de-listing of certain mainland Chinese companies from U.S. stock exchanges. The legislation will become law if it is approved by the House of Representatives and signed by the president. More

hktdc research

MOFCOM Promotes Further Opening of Hubei Pilot Free Trade Zone

17 June 2020

The Ministry of Commerce issued a circular on 4 June (Shang Zi Mao Fa No. 102 [2020]) on the introduction of 24 specific measures in five aspects for the Hubei Pilot Free Trade Zone, including improving the quality of trade growth, optimising business environment, improving market operation mechanism, deepening economic co-operation and trade, and strengthening institutional guarantee. More

hktdc research

The Greater Bay Area: Developing Infrastructure Promotes Great Brands

17 June 2020

The potential for the sale of consumer luxury goods in the Guangdong-Hong Kong-Macao Greater Bay Area is immense. At the same time, Hong Kong’s location, access and pre-eminence within Asia as a whole, together with its zero VAT on goods and straightforward product regulatory regime, are also believed to have considerable appeal for luxury brand retailers. More

hktdc research

Shenzhen Revises Special Customs Supervision Measures to Boost Opening Up

17 June 2020

The Commerce Bureau of Shenzhen has introduced measures for the administration of special customs supervision areas. More

inside china

AI in driver’s seat

17 June 2020

The abrupt rewiring of the world’s economy brought by COVID-19 has upended global trade, and the world’s premier exporter, Mainland China, along with the international investment and business hub of Hong Kong, are key players in this rewiring. More

hktdc research

2020 Mid-Year Export Review: Pandemic and Protectionism Combine to Trigger Double-Digit Decline

16 June 2020

Hong Kong’s export outlook has taken a turn for the worse as the global trade environment has deteriorated sharply amid the unprecedented Covid-19 pandemic, which has seriously disrupted global supply chains and severely dampened worldwide demand. In view of the threats of a sharply distressed global economy and ongoing trade protectionism, HKTDC Research has lowered its 2020 export growth forecast to -10% from -2% amid substantial downside risk. More

hktdc research

China Simplifies Forex Settlement to Boost Cross-Border Trade

16 June 2020

On 20 May, the State Administration of Foreign Exchange (SAFE) issued a circular on supporting the development of new forms of trade (Hui Fa No. 11 [2020]). It is aimed at helping enterprises to handle foreign exchange business. More

hktdc research

Senate Report Urges Additional Actions on Mainland Chinese Telecom Firms

15 June 2020

The Senate’s Permanent Subcommittee on Investigations issued on 9 June a 104-page staff report arguing for greater oversight of the U.S. operations of China Telecom Americas, China Unicom Americas and Pacific Networks Corp.’s wholly-owned subsidiary ComNet USA. More

hktdc research

Accessing China’s Domestic Market via Waigaoqiao’s Service Platforms

15 June 2020

Waigaoqiao Bonded Area has evolved into a special customs supervision zone boasting the largest economic scale and widest range of business functions in the country. Coupled with the benefits from the open policies of the Shanghai Free Trade Zone, the Area has become an ideal entry point for Hong Kong companies looking to gain access to the domestic market of the mainland China. More

hktdc research

Small Businesses Allowed to Defer 2020 Income Tax Payment

15 June 2020

The State Taxation Administration recently issued an announcement (No. 10 [2020]) on extending due dates for 2020 income tax payments from small, low-profit enterprises and individually-owned businesses. More

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