Legal

Temporary local rules will fill the gaps

New approach needed in falling property market

Move is part of wider labour law developments

“Groundbreaking” rules give domestic commercial banks important role

Local rules rolled out first in hope of easing business pressures

According to the revised Regulations, the amount of consumption tax payable may be calculated ad valorem, at a flat rate or by a combination of the two.

A sweeping VAT reform takes place in China on January 1 2009. It will benefit many domestic companies but could block the cash-flow of some foreign invested enterprises, removing advantages enjoyed under the old tax regime. By Joanna Law.

Conversion of unlisted foreign investment shares into tradable B-shares streamlined.

The Chinese capital markers have developed rapidly and sponsorship activities have increased. New Measures for the administration of securities sponsorship aim to fix the weaknesses in the previous legal framework. They will have a significant impact on sponsoring companies and their legal advisers. By Christophe Han and Patrick Chen, Llinks Law Offices, Shanghai.