A statement by Zhang Zuoji, Minister of Labour and Social Security, has set out the government's policy for China's pensions and social security fund, the Financial Times said. The fund would be financed in three ways: by transferring state shares into the fund in order to accumulate the dividends paid by them; by selling state […]
Category: Law & Regulation
International express operators have grudgingly agreed to a demand by the Chinese authorities that they should only continue to deliver business documents and small parcels on the mainland under a system in which their rival China Post would also act as regulator. The operators, represented by the Conference of Asia-Pacific Express Carriers, said they continued […]
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Three Gorges tariff decided
The tariff for power produced by the Three Gorges hydroelectric project has been set at Yn0.25 per kilowatt-hour. The rate, which excludes a transmission fee of more than Yn0.10, is similar to levels charged by coalfired plants. The project is expected to start generating electricity in 2003, although it will not be completed until 2009. […]
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No place to hide
The Chinese authorities are clamping down on tax avoidance, and where individuals are at fault, it's often their employer who is penalised. For those who perceive they are at risk, honesty may be the best policy. There has been a noticeable increase in tax enforcement activity in specific 'high revenue risk' areas by the Chinese […]
Many FIEs are evading tax by making paper losses, China Business Times said. According to figures compiled by the anti-tax evasion division of the National Tax Bureau, 35- 40 per cent of such firms reported losing money between 1988 and 1993, rising to 60- 65 per cent between 1996 and 2000. The most popular method […]