Corporate Governance

SAFE reduces the short-term foreign debt indicators of financial institutions for 2007.

Reduction and exemption of income tax of newly-established enterprises clarified.

Application procedures for settlement and sale of foreign exchange businesses by banks simplified.

Chinese law firms and foreign law firms play different roles in the legal service market in China. Who is taking the lead and where do these firms fit into the big picture?

Environmental protection, energy consumption, employee treatment and equipment quality included in the criteria for engaging in processing trade.

Set-off of Value-added tax on purchases relating to imports clarified.

Remuneration of administrators determined according to the value of property in the final repayment by the debtor.

Criteria provided for selection of administrators of enterprise bankruptcies.

Imports may be directly returned by order of customs.