Company News
Hong Kong’s New Companies Ordinance Expected to Take Effect in 2014
Jan. 29 – With the aim to modernize Hong Kong’s Company Law and further enhance the region’s status as a major international business and financial center, a comprehensive rewrite to the existing Companies Ordinance was initiated in mid-2006. This long and arduous process began to bear fruit on July 12, 2012 as the Companies Bill was eventually passed by the Hong Kong Legislative Council.
Shenzhen Adjusts Social Insurance Policy
Jan. 23 – Shenzhen’s Social Insurance Bureau recently released a circular concerning social insurance payments in the city, which came into effect from January 1, 2013. The circular provides new policies regarding the payment of pension insurance and unemployment insurance in Shenzhen, and cancels over-age pension insurance contributions for individuals with Shenzhen hukou.
Foreign Visitors Can Enjoy 72 Hour Visa-Free Stay in Beijing and Shanghai
Jan. 16 – From January 1, 2013, foreign visitors in China from 45 countries can enjoy a 72 hour visa-free stay in Beijing and Shanghai.
China Releases Interpretations on Foreign-Related Civil Relations
Jan. 15 – The Supreme People’s Court of China released the “Interpretations on Several Issues Concerning the ‘Law of the People’s Republic of China on the Application of Laws to Foreign-Related Civil Relations’ (I) (fashi [2012] No. 24)” on December 28, 2012, which came into effect on January 7, 2013. Detailed information can be found below.
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