Company News

The Standing Committee of the Fifth People’s Congress of Shenzhen Municipality passed the “Shenzhen Special Economic Zone Population and Family Planning Regulations (hereinafter referred to as ‘Regulation’)” on October 30, 2012, which came into effect on January 1, 2013. The Regulation is the first local law in China that clarifies the issue of violating the State one-child policy by giving birth outside of Mainland China.

China’s State Administration of Taxation released the “Announcement on the Treatment of Remaining Value-Added Tax (VAT) Amounts Carried Over During Asset Reorganization by Taxpayers (Announcement [2012] No. 55, hereinafter referred to as ‘Announcement’)” on December 13, 2012, which addresses issues concerning the treatment of remaining VAT amounts carried over during the asset reorganization process. Key information can be found below.

China’s State Council released the “Opinions on Further Supporting the Sound Development of Micro and Small-Sized Enterprises (MSEs) (guofa [2012] No.14)” on April 19, which puts forward 29 supporting measures in 8 areas for the development of MSEs in the country. Detailed information can be found below.

China’s State Council released the “Decision on Revising and Repealing Certain Administrative Regulations (Order No.628 of the State Council, hereinafter referred to as the ‘Decision’)” on November 9, which revises certain provisions within five administrative regulations and repeals five administrative regulations. Key information taken from the Decision can be found below.

The Hague Conference on International Private Law (HCCH), the world’s leading intergovernmental organization in the field of private international law, established its first Asia-Pacific regional office in Hong Kong today.

China’s Ministry of Finance and the State Administration of Taxation released “The Supplementary Circular on the Scope of Taxable Services and Several Other Tax Policies in the Pilot Collection of Value Added Tax (VAT) in Lieu of Business Tax in the Transportation Industry and Certain Modern Services Industries (caishui [2012] No. 86, hereinafter referred to as the ‘Circular’) on December 4, which clarifies a collection of relevant tax policies regarding the VAT reform in its target industries. Detailed information can be found below.

China’s Ministry of Commerce (MOC) released the “Announcement on the Application Conditions and Procedures for Export Quotas of Rare Earth in 2013 (Announcement [2012] No.86)” on November 27, clarifying the application conditions and procedures of export quotas for rare earth production enterprises and circulation enterprises. Detailed information can be found below.

Jim Zimmerman, the China managing partner of U.S. law firm Sheppard Mullin, is a good friend of China Briefing and is also both the Chairman Emeritus of Amcham China and the author of the China Law Deskbook – considered by many to be the bible of China law. Jim has recently introduced a regular update service to the China Law Deskbook and has kindly given permission for China Briefing to host it here.

China’s State Administration of Taxation (SAT) released the “Announcement on Certain Issues Related to Consumption Tax Policies (Announcement [2012] No. 47, hereinafter referred to as ‘Announcement’)” on November 6, 2012.

With the view to facilitate foreign investment and standardize the administration of foreign exchange for foreign-invested partnership enterprises, China’s State Administration of Foreign Exchange (SAFE) released the “Circular on Issues Concerning the Administration of Foreign Exchange of Foreign-Invested Partnership Enterprises (huifa [2012] No. 58, hereinafter referred to as ‘Circular’)” on November 19, 2012.