A new Circular makes it easier for foreign investors to get approval for the conversion of their unlisted shares into B-shares. This may finally render non-listed foreign-investment shares in these issuers obsolete. By Heiner Braun and Miles Ma, Freshfields Bruckhaus Deringer, Shanghai.

IPO sponsors required to keep working drafts.

A sponsor shall establish a sound working draft system, and keep separate sponsorship working drafts for each project.

VAT system changed from production-based to consumption-based.

National Legislation ACCOUNTINGChinese Institute of Certified Public Accountants, Guidelines on Audits Designated for Recognition of High-tech Enterprises…

More local governments to take similar protective measures

New sectors are expected to open in 2009

Liu Yi and Wang YaxunRun Ming Law [email protected], [email protected] year after the introduction of the PRC Property Law (中华人民共和国物权法) (Property…

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.