Legal

• China VAT Export Rebate Cuts: Impact on Sourcing&Trade Imbalances

  Many exports from China are subject to higher net value-added tax (VAT) costs under a notice effective from July 1 2007.

  July 02, 2007

• M&A REGULATORY THREATS LOOM, FOREIGN INTEREST WANES

  Greater regulatory oversight of foreign acquisitions of domestic firms has been written into the draft anti-monopoly law, according to China Daily. State…

  July 02, 2007

• Finance Leasing with Chinese Characteristics

  The China Bank Regulatory Commission is reviewing applications by five commercial banks to establish finance leasing companies. How will this new business vehicle impact the Chinese finance leasing landscape?

  July 02, 2007

• JUDICIARY TARGETS BRIBERY WITH STRONG WARNINGS

  China's top judiciaries issued a document on Sunday, July 8 targeting "new forms of corruption", in an effort to catch up with the tricks of "wily, corrupt…

  July 02, 2007

• AMENDMENT CONSIDERED TO THE LAW ON LAWYERS

  The National People's Congress (NPC) is considering a draft amendment to the Law on Lawyers that would solidify ethical guidelines, thereby allowing lawyers…

  July 02, 2007

• Measures for the Administration of Lease Financing Companies

  金融租赁公司管理办法

  The China Bank Regulatory Commission is reviewing applications by five commercial banks to establish finance leasing companies. How will this new business vehicle impact the Chinese finance leasing landscape?

  July 02, 2007

• Several Provisions on the Trial of Cases Involving Civil Tort Compensation in Connection with Audit Activities by Accounting Firms

  关于审理涉及会计师事务所在审计业务活动中民事侵权赔偿案件的若干规定

  The Rules, tightening tort liability for accounting firms in conducting audits, are a crucial step towards preventing accounting firms from liability evasion in civil tort cases and building investors' confidence.

  July 02, 2007

• Official Reply on the Issue of the Income Tax Treatment of Sale-leaseback Transactions by Foreign-invested Enterprises that Engage in Real Property Development

  关于从事房地产开发的外商投资企业售后回租业务所得税处理问题的批复

  The Reply clarifies under which case an enterprise assigns interests in, or risks attaching to, an asset through a sale-leaseback transaction it shall be deemed to have transferred all or part of the ownership of the immovable property.

  July 02, 2007

• Navigating the New Employment Contract Law

  The recently issued PRC Employment Contract Law affects all employment relationships in the PRC. Increased employee protection is provided by requirements for the establishment, implementation, amendment and termination of contracts.

  July 02, 2007

• PRC Employment Contract Law

  中华人民共和国劳动合同法

  Requiring that employers conclude written employment contracts with all full-time employees within 30 days of their start date, the law provides basic requirements for the establishment, implementation, amendment and termination of these contracts.

  July 02, 2007