Author name: wensenleke

The State Council recently promulgated a circular to unify the urban maintenance and construction tax for domestic and foreign enterprises and individuals and the education surtax system: from 1st December 2010, the Provisional Regulations of the People’s Republic of China on City Maintenance and Construction Tax released in 1985 by the State Council and Provisional …

Local & Foreign Taxpayers Subject To Same Building Tax & Education Surcharge Rules Read More »

To a certain degree, change is already underway. In real terms, Chinese spending has picked up and is growing annually at around 10%. Even before Hu’s speech, the Chinese government was already attempting to facilitate this process, spending more on social projects to help build social welfare systems. These safety nets are desperately needed. Most …

China’s consumer market Read More »

Measures for the Supervision and Administration of the Contract Violations is already discussed and passed in the meeting of State Administration of Industry and Commerce of the People’s Republic of China, now promulgated, and shall be implemented from the 13th November 2010. Minister Zhou Bohua 13th October 2010 Measures for the Supervision and Administration of …

Measures For The Supervision And Administration Of The Contract Violations Read More »

Beijing , China –November 10, 2010 The Ministry of Finance (MOF), together with the Ministry of Industry and Information Technology (MIIT), the General Administration of Taxation (GAT) and the General Administration of Customs (GAC), has recently released the Notice on the Adjustment of Tax Policies on Imported Important Technological Equipment Including Large Equipment that Facilitates …

Major Technological Equipment Import Tax Policy Adjusted Read More »

Beijing , China –November 10, 2010 As an effort to standardize the accounting behaviour of small enterprises and ensure the quality of their accounting information, the Ministry of Finance (MOF) recently drafted the Accounting Standards for Small Enterprises based upon extensive investigation and research to solicit public opinion until 15 December 2010. The draft instrument …

MOF Consults Public On Small Enterprise Accounting Standards Read More »

In line with the unified arrangement for the reform of the pricing mechanism for initial public offering (IPO), the China Securities Regulatory Commission (“the CSRC”) has formulated the Guidance on Furthering the IPO Pricing Mechanism Reform, which is hereby announced and shall come into force as of 1 November 2010. China Securities Regulatory Commission 11 …

Guidance On Furthering The IPO Mechanism Reform Read More »

LEHMAN, LEE & XU China’s People’s Bank of China (“PBOC”), Ministry of Finance (“MOF”), National Development and Reform Commission (“NDRC”), and the China Securities Regulatory Commission (“CSRC ”) jointly issued amendments to the Provisional Administrative Rules on the Issuance of RMB Bonds by International Development Institutions (“Panda Bond Regulations”) on September 30, 2010. ‘Panda Bonds’ …

Panda Bond Market Opened To Bilateral Development Institutions Read More »

Beijing, China –November 5, 2010 – On Oct. 8, 2010, Xiamen Customs of the People’s Republic of China rendered the “Notice for IP Status Confirmation to Imports and Exports Cargos” to SAO PAULO ALPARGATAS S\A, asking this Brazilian company to confirm whether the trademark labeled on cargos seized by this customs counterfeit its registered trademark. …

Lehman Lee & Xu: Protecting the IP Rights of Clients by Customs Records Read More »

Beijing , China –November 3, 2010 The US Congress is currently considering a proposed law that would require foreign manufacturers of several types of products to appoint agents for service of process and submit to jurisdiction the United States, or have their products barred from importation. The Foreign Manufacturers Legal Accountability Act (FMLAA) would require …

Proposed Law Would Require Non-US Manufacturers To Appoint Agents For Service Of Process, Submit To Jurisdiction In US Courts Read More »

LEHMAN, LEE & XU In order to further regulate the Customs administration of the entry and exit of articles for self-use by non-resident permanent passengers, the General Administration of Customs (GAC) has released the revised “Measures of the Customs of the People’s Republic of China for Supervising the Entry and Exit of Articles for Self-use …

Customs Measures Revised For Supervising Entry & Exit Of Articles For Self-Use By Non-resident Permanent Passengers Read More »