China Economic ReviewThe National Audit Bureau has imposed fines of Yn19m on China Construction Bank after a bureau investigation of 20 units and branches of the bank found 88 illegal accounts holding a total of Yn102m, South China Morning Post said. The bank has also been ordered to pay outstanding business and income tax. It had been […]
The joint venture fund management firm of the European financial services group Fortis Haitong Securities has received its operating permit from the China Securities Regulatory Commission. Its registered capital is Yn100m, with Haitong owning a 67 per cent stake. Two other joint venture fund management firms – China Merchants Fund Management, a joint venture between […]
The recently implemented provisional rules on mergers and acquisitions involving Chinese enterprises provide for potentially sweeping antitrust requirements that could have major implications for foreign investors. The Provisional Rules on Mergers with and Acquisitions of Domestic Enterprises by Foreign Investors offer a legal basis for the acquisition by foreign investors of assets from and equity […]
Non-Chinese companies are now allowed to register internet domain names ending .cn. NeuStar, the US-based company selected to accept registrations outside China, said tens of thousands of foreign organisations had enquired about registration before the newly liberalised policy was launched on March 16. It has a target of 1m registrations in the first 18 months, […]
Corruption has worsened in China, according to an annual survey of executives in Asia by the Hong Kong-based Political and Economic Risk Consultancy. Its corruption index for China rose from 7 points to 8.33, on a scale where 10 represents the worst possible score. India, with a score of 9.30, and Indonesia with 9.33, came […]