Company News

According to the Department of Foreign Trade and Economic Cooperation of Guangdong Province and Guangdong Province Administration of Industry and Commerce (Guangdong AIC), a new streamlined registration and approval process for foreign-funded companies will be run across nine cities along the Pearl River Delta.

On February 15, 2012, the State Administration of Foreign Exchange (SAFE) issued the “Circular Regarding Issues Relating to Foreign Exchange Administration of Domestic Individuals’ Participation in Equity Incentive Plan of Overseas Listed Companies (huifa[2012] No.7)” (Circular 7) providing that foreigners working in China are subject to SAFE registration if they participate in any form of equity incentive plan with an overseas-listed company.

China’s State Administration of Foreign Exchange (SAFE) replaced the “Circular Regarding Procedural Requirements for Chinese Nationals to Participate in Employers’ Overseas Equity Incentive Plans (huizongfa [2007] No.78)” (“Circular 78”) with the new “Circular Regarding Issues Relating to Foreign Exchange Administration of Domestic Individuals’ Participation in Equity Incentive Plan of Overseas Listed Companies (huifa[2012] No.7)” (“Circular 7”) in February 2012.

China’s General Administration of Customs (GAC) issued the newly-revised “Table of Categorization for the Imported Articles of the PRC” (“Table of Categorization”) on Wednesday, March 28.

On March 22, the Highest People’s Court released the “Interpretation II on Several Issues Concerning the Application of the Insurance Law (Draft for Comments)” (“Draft Interpretation”), which provides clarifications to the latest version of China’s Insurance Law promulgated in October 1, 2009.

Shanghai’s state and local tax bureaus have issued the “Trial Procedures on the Filing of the Allocation Proportion of Consolidated CIT Payments by Headquarters in Shanghai (huguoshuisuo[2010] No. 10)” (“Trial Procedures”) on March 10, 2012.

Global billing hits US$2.6 billion in 2011 The Leading Edge Alliance (LEA Global), of which Dezan Shira & Associates are China and India members, has been ranked by International Accounting Bulletin as the second largest international association of independent accounting firms for 2012. LEA Global is an international alliance of independently owned accounting and consulting […]

Dezan Shira & Associates has reshuffled their senior management team, moving three key personnel from China to other locations throughout Asia. Olaf Griese, previously regional partner in Shanghai, has relocated to Delhi, India as partner of the firm’s India practice. Griese has been with the practice since 2006 and is a graduate of the Institute of […]