HKTDC RESEARCH

Fines Assessed for Bribery Schemes in Mainland China

10 October 2019

The U.S. Securities and Exchange Commission reports that a Canadian company and its former chief executive officer have agreed to pay more than US$4.1 million to resolve charges that they violated the Foreign Corrupt Practices Act by paying bribes to a foreign government official in mainland China. The SEC also reports that a U.S. company has agreed to pay nearly US$10 million to resolve charges that it violated the FCPA by engaging in multiple bribery schemes in mainland China and Peru.More

Topics: USA, Peru, Corporate Governance, policies & regulations

Mexico Unveils New Industrial Policy

10 October 2019

Mexico’s Ministry of Economy unveiled earlier this month a new national industrial policy at the first business meeting for the integration of productive chains held in Queretaro. Undersecretary of Trade and Industry Ernesto Acevedo noted that this new policy aims to increase the domestic content of Mexican exports in order to promote a diversified, innovative and inclusive industry that strengthens the domestic market.More

Topics: Mexico, North America, export, production base

Argentina Updates Safety Regime for Auto Parts

10 October 2019

Argentinean authorities have updated the country’s safety regime for auto parts that require a CHAS approval certificate prior to commercialisation. The new regulation applies to auto parts and safety elements of Category L, M, N and O vehicles intended exclusively for the automotive aftermarket.More

Topics: Auto Parts, Argentina, Central & South America, product safety

Business Reforms Piloted in Beijing and Shanghai Set for National Rollout

09 October 2019

A raft of reform measures piloted in Beijing and Shanghai and intended to optimise the overall business environment is to be rolled out on a national basis. Essentially, all these reforms – many of which were initiated at the behest of the business community – focus on streamlining administration, delegating powers and improving services, while transforming the role played by government bodies.More

Topics: Mainland China, business environment, starting a business

The Greater Bay Area: Powering “Smart” Integration

09 October 2019

Siemens, one of Europe’s largest industrial manufacturing companies, is a leading digital connector for the Guangdong-Hong Kong-Macao Greater Bay Area development. The German conglomerate uses its Hong Kong “smart city lab” projects to upscale into Greater Bay Area infrastructure sectors.More

Topics: Technology, Building & Construction, Hong Kong, Germany, smart city, industry 4.0

Food and Beverage Logistics in the UAE: A Hong Kong Success Story

Interview with Ng Kam Wah, Director of Hong Kong Star Foodstuff Trading

08 October 2019

In the UAE, fast-growing population and a growing internationalisation and sophistication in consumer preferences has driven a rise in demand for fresh produce. With consumers demanding healthier, more nutritious products and greater diversity of choice, cold chain systems and logistics services are becoming increasingly important in the UAE’s food products business.More

Topics: Food & Beverages, Logistics & Supply Chain, Hong Kong, United Arab Emirates, cold chain logistics, cold storage facility

Advanced Manufactures Granted End-of-Year VAT Credit Refund Incentive

08 October 2019

As of 1 June this year, qualified advanced manufacturing VAT taxpayers have been entitled to apply to their local tax authority for a refund of the end-of-period incremental VAT credit relating to the filing period commencing 1 July 2019 and for subsequent filing periods. More

Topics: Mainland China, vat, advanced manufacturing industries

China (Shandong) Pilot Free Trade Zone

08 October 2019

The China (Shandong) Pilot Free Trade Zone (SDFTZ) is one of six such pilot zones designated by the State Council in its Circular on Issuing the Overall Plan for the Six New Pilot Free Trade Zones in August 2019. The SDFTZ consists of three areas totalling 119.98 sq km: the Jinan Area (37.99 sq km), the Qingdao Area (52 sq km, including the 9.12-sq km Qingdao Qianwan bonded port area and the 2.01-sq km Qingdao west-coast comprehensive bonded zone) and the Yantai Area.More

Topics: Mainland China, china pilot free trade zone, shandong

China (Guangxi) Pilot Free Trade Zone

08 October 2019

The China (Guangxi) Pilot Free Trade Zone (GXFTZ) is one of six such pilot zones designated by the State Council in its Circular on Issuing the Overall Plan for the Six New Pilot FTZs in August 2019. The GXFTZ consists of three areas totalling 119.99 sq km: the Nanning Area (46.8 sq km, including the Nanning comprehensive bonded zone), the Qinzhou Port Area (58.19 sq km, including the Qinzhou bonded port area) and the Chongzuo Area (15 sq km, including the Pingxiang comprehensive bonded zone).More

Topics: Mainland China, guangxi, pilot free trade zone

China (Jiangsu) Pilot Free Trade Zone

08 October 2019

The China (Jiangsu) Pilot Free Trade Zone (JSFTZ) is one of six such pilot zones designated by the State Council in its Circular on Issuing the Circular on Issuing the Overall Plan for the Six New Pilot FTZs in Aug 2019. The JSFTZ consists of three areas totalling 119.97 sq km: the Nanjing Area (39.55 sq km), the Suzhou Area (60.15 sq km, including Suzhou comprehensive bonded zone in Suzhou Industrial Park) and the Lianyungang Area (20.27 sq km, including Lianyungang comprehensive bonded zone).More

Topics: Mainland China, jiangsu, pilot free trade zone

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