Life insurance and pension groups AEGON International N.V. (AEGON), and China's Industrial Securities have completed the establishment of a Sino-Foreign…
China is not a free economy. Every business activity is regulated. According to current PRC laws and regulations, any established presence of a foreign company shall be approved and lodged with relevant government authorities. Unregistered business activities may be caught and deemed illegal by Chinese government authorities.
The beginning of this year saw the introduction of a series of laws that have an immense effect on the labour market in the PRC. Many of their provisions have been expected and prepared for, while other areas of employment law remain unclear for many employers operating in the PRC. Therefore, knowledge of their content is essential for every market player with the need for hiring workers within the country.
The PRC Law on the Mediation and Arbitration of Employment Disputes is another important step made by the Standing Committee of the PRC National People's Congress after its promulgation of the Labour Contract Law in June 2007. Both this and the Labour Contract Law are intended to better protect the legitimate rights and interests of employees and employers, with the latter in respect of the substantive law and the former in respect of the procedural system.
White & Case has made additions to its Asia Bank Finance and Restructuring practices with the arrival of partner John Hartley and his team of three from…
The General Administration of Customs of the People's Republic of China recently released its Decision on Amending the PRC Customs Measures for the Supervision of Processing Trade Goods (Decision), which has been in effect since 2004. The new measure was announced on 14 January 2008 and took effect since 1 March 2008. This development heralds the end of a long process of outward processing trade reform that will see the upgrade of China's processing trade.