China Briefing News



B&Q Continues Adapting to China Market as Competition Increases (Jul 4)
By Jennifer Wu SHANGHAI, July 4 - Red-bean Frappucinos at Starbucks, porridge at KFC, mooncake-shaped ice cream at Häagen-Dazs—don’t be surprised to find these products or variations at any of their respective chain stores in China. It may seem like an obvious route to take: catering to local preferences and culture as a surefire way into the [...]


China Moves to Control inflow of ‘Hot Money’ (Jul 4)
July 4 - China is implanting a new system to control the inflow of speculative funds from abroad. The rules state that starting from July 14, it will be mandatory for companies to provide evidence to the State Administration of Foreign Exchange for verification. Exporters will be required to park their export receipts in temporary verification accounts [...]


China to Tax Online Business (Jul 3)
July 3 – China has announced that online businesses are now required to register and pay taxes. The new rule covers corporations as well individuals who make profit online. The rule does not apply to people who sell or swap personal goods online not for profit, according to sources. The Beijing Administration for Industry and Commerce (BAIC) [...]


Chinese Gov’t Policies to Help Large-scale Agribusiness (Jul 2)
July 2 - The Sichuan earthquake is likely to hurt small livestock farms in rural China, with medium-sized to large livestock farms emerging as a new trend says an executive of Thailand’s largest agricultural conglomerate.China’s modernization of the farm sector will affect the key agricultural provinces of Hunan, Hubei, Shanxi, Jiangxi and Anhui says Damrongdej [...]


July/August Issue of China Briefing Out Now (Jul 1)
July 1 - The July/August issue of China Briefing magazine is out now and available for download (click on the image - subscription required, however this is complimentary). In this issue, we take an in-depth look at Beijing, concentrating on the reemergence of the capital as the nation’s financial center. The development of Beijing’s Financial Street [...]


Legal Search Practice Names Top China Law Firms (Jul 1)
July 1 - Metcalf & Q, the legal search practice, has just produced its annual guide to the best foreign law firms in Beijing. The firm interviewed over 100 lawyers in foreign firms in Beijing, asking them about their current practice, and the firms they would or would not like to work for. Metcalf & [...]


Disneyland Shanghai to Open By 2012 (Jun 30)
June 30 - After much speculation and negotiation, there are reports that a Disneyland in Shanghai seems to finally be in sight. The official confirmation from the Chinese government is expected to be made after the 2008 Beijing Olympics. As early as 2002, there were already plans to build a Disneyland in mainland China by [...]


U.S. Banks Finding Closed Doors as China Opens to Europe (Jun 27)
June 27 - China is opening the door to European banks faster than U.S. ones according to a Financial Times article published today. The article, by Sundeep Tucker, asserts that European investment banks have established momentum over their U.S. rivals in the race to develop Chinese securities joint ventures, as it appears Beijing is delaying the [...]


Tibet Opens to Foreign Tourists (Jun 26)
June 26 - Tibet reopened to tourists Wednesday, three and a half months after the Chinese government banned visits by foreigners in the wake of violent anti-government riots and protests. The first group of foreign tourists, from Sweden, arrived at the Lhasa airport on Wednesday morning, said Tibetan Tourism Bureau spokesman Liao Lisheng. “Tibet is open now [...]


China Overtakes Japan as World’s Second-largest Oil Importer (Jun 26)
June 26 - China overtook Japan as the world’s second-largest crude oil importer in May, importing 16.18 tons of crudel (3.81 million bpd), an increase of 25 percent from a year ago. “It’s a symbol of the era,” Akira Kamiyama told Forbes, derivatives trader at Mitsui & Co. “Japan’s imports will be capped, but China’s imports [...]