Legal

• New China legislation this week - 13 May 08

  Recent legislative activities from China

  May 14, 2008

• Outbound investment surges as China-Australia tie tightens

  More local firms make use of Australia's rich resources

  May 14, 2008

• New rules for funds in Hong Kong

  Government gives green light for fund management firms to expand into Hong Kong

  May 14, 2008

• Draft implementation regulations for labour contract law issued

  Government seeks to clarify confusion surrounding the new law

  May 14, 2008

• Mainland power producer expands to overseas

  Negotiations result in US$3.3 billion acquisition

  May 14, 2008

• Retailer makes first entry to Hong Kong

  The first IPO on the HKEX in the second quarter of this year

  May 14, 2008

• State Administration of Taxation, Circular on Issues Relevant to the Administration of Tax Collection Concerning Outbound Payments of Trade in Services

  国家税务总局关于服务贸易对外支付税收征管有关问题的通知

  Procedures for advance tax filing for the service industry clarified.

  May 08, 2008

• People’s Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission, Several Opinions on Accelerating the Development of the Service Industry with Support from the Financial Sector

  中国人民银行、中国银行业监督管理委员会、中国证券监督管理委员会、中国保险监督管理委员会关于金融支持服务业加快发展的若干意见

  Enterprise groups in the service industry given priority to establish finance companies.

  May 08, 2008

• State Administration of Taxation, Supplementary Circular on Issues Relevant to the Administration of Tax Collection Concerning Outbound Payments of Trade in Services

  国家税务总局关于服务贸易对外支付税收征管有关问题的补充通知

  International maritime transport not included in trial advance tax filing.

  May 08, 2008

• Shanghai Municipality, Circular on the Revision of the Minimum Hourly Wage Standard of the City

  上海市关于调整本市小时最低工资标准的通知

  Minimum hourly wage raised to Rmb8 for part-time employees in Shanghai.

  May 08, 2008