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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 »

LEHMAN, LEE & XU The General Administration of Customs (GAC) recently promulgated the Measures of the PRC for the Customs Administration of Inbound and Outbound Means of Transport, which apply to the customs administration of operational inbound and outbound means of transport, and may also be taken as a reference in the administration of non-operational …

Measures Governing Inbound/Outbound Transport Means Released Read More »

The Legislative Affairs Office of the Sate Council recently issued the Regulations on Urban Public Transportation for public comment until 31 October 2010. The draft document requires urban planning authorities to give priority to the use of land for urban public transport facilities when organizing the preparation of the traffic control plans, making it clear …

Lawmakers Consult Public On Urban Public Transport Rules 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 »