Legal

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

The landmark new law provides the same protection to private property as that to state-owned property.

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

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

National LegislationCUSTOMS Measures for the Administration of Zhuhai Zone in the Zhuhai-MacaCross Border Industrial Zone珠澳跨境工业区珠海园区管理办法L5920/07.03.08ECONOMIC…

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

Land value-added tax of 1% levied on newly-established premises in Beijing.

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

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