Legal

China fosters local chipmakers with tax breaks

Food labeling rules are revised to handle new marketing activities

Trump issues executive orders barring transactions with WeChat, TikTok after 45 days; U.S. officials recommend delisting non-compliant Chinese firms by 2022; China introduces tax, investment incentives for domestic chipmakers

Insurance companies' allocation of equity assets is subject to oversight according to their solvency

Foreign bank branches may engage in fund custody business

Integrated circuit production enterprises may enjoy up to 10 years of tax exemption. Regulatory policy for alternative energy vehicle manufacturers is relaxed. Food labeling rules are revised to handle new marketing activities.

Daisy Duan, Wang Yan, Chen Yijing and Sun Huanyu of King & Wood Mallesons discuss the newly announced individual tax policies and how it provides clarification on foreign income especially in relation to foreign tax credits, tax filing and cross-border secondments. They also provide suggestions on how to reduce compliance risk in light of the new tax policies

Chinese companies that fail to have their audits inspected face the threat of delisting

TikTok in limbo after Trump's threat to ban app from U.S. market; Luckin to be penalized by Chinese regulators over falsified sales; and Hong Kong bourse launches hedging tools for tapping A-share market