Hong Kong or Hainan? Hainan Free Trade Zone to Develop into a High-Level Free Trade Port
2020-07-30 17:11:16
In 2018, the Chinese government decided to categorize the entire province of Hainan as a free trade zone (FTZ). Recently, on June 1, 2020, Beijing has rolled out a master plan, introducing a series of special policies to develop Hainan into a high-le...(more)
Doing Business in China: 5 Main Types of Company Chops
2020-07-20 16:12:43
It is mandatory for foreign-invested enterprises to produce company chops after registering with the Administration of Industry and Commerce (AIC). They contain the full registered name of the company in Chinese and must be approved by the Public Sec...(more)
First Week Cross-Border E-Commerce B2B Exports Exceeds RMB 1 Million under New Policy
2020-07-10 11:05:36
Beijing Customs pointed out that since the launch of the new cross-border e-commerce B2B export policy on 1 July, the cross-border e-commerce B2B accumulative export value has exceeded RMB 1 million over the past week in Beijing, a five-fold increase...(more)
Act for the Development of Biotech and New Pharmaceuticals Industry Extends for Another 10 years: Reduction in Corporate Income Tax Payable for up to 35%
2020-07-08 10:14:39
The Act for the Development of Biotech and New Pharmaceuticals Industry which is set to expire on December 31, 2021 is scheduled to be extended for another ten years by the government. The scope of application of the Act originally included New Drugs...(more)
China's Cross-Border E-Commerce Tax Policies
2020-07-02 18:02:09
Cross-border e-commerce (CBEC) is gaining momentum in China. Over the last several months, the Chinese government has been rolling out policies, including adding new CBEC pilot zones and pilot cities for CBEC retail importation, extending the CBEC re...(more)
Taxation Regarding Crypto Assets Transaction in Taiwan
2020-06-29 17:01:48
Currently, there are still many ambiguities in terms of taxation regulations for virtual currencies. The Taiwan Financial Supervisory Commission has not yet proposed any regulation for various coins. However, virtual currency trading platforms are an...(more)
Shanghai Free Trade Zone - New Offshore Trade Policies
2020-06-19 11:13:28
Offshore trade refers to a trade model in which the goods are transported directly from the exporting country to the importing country without entering the border of the country where the contracts, payments, logistics, insurances, financial arrangem...(more)
Tax Breaks and Supportive Policies to Benefit the Film Industry in China
2020-06-18 14:01:23
China Ministry of Finance and State Taxation Administration announced that taxpayers in the film industry will be exempt from VAT on income derived from the provision of film screening services. This is to apply retrospectively from January 1, 2020 t...(more)
US Eases Conditions for Working with Huawei on 5G Standards
2020-06-17 12:08:10
The US and China move a step forward to work together. The US commerce department loosened its sanctions to allow US companies to collaborate with Huawei on setting technical standards that will determine the rules of the road for 5G and other emergi...(more)
Huawei Becomes Global Smartphone Leader - 21% market share in April, beating Samsung’s 19%
2020-06-16 11:30:50
Due to a downturn in the Indian market, according to Counterpoint Research data, Samsung's global shipment market share shrank to 19.1% in April, making Huawei, which has been following closely behind, surpass Samsung for the first time in single-mon...(more)