China Economic ReviewThere are provisions on confidentiality, status of parties, warranties and ownership of improvements, and clauses not to be included in import technology contracts. These restrictions are more permissive than their equivalents in the 1985 regulations, which had provided that a contract could not prevent the recipient’s use of the imported technology after the contract expired, […]
The importation of ‘restricted’ goods requires a licence that must be applied for from Moftec or its local branches. Application for the licence is made to Moftec along with required supporting documents (and approvals, for certain technology import projects). Moftec then considers the application together with other relevant departments and responds within 30 days. If […]
The key change is the elimination of registration requirements for the importation of goods in the free category. A contract to import technology is effective when legally entered into; formerly, all technology import contracts were effective only when approved or registered by Moftec or its branches. Registration is done both online (with China International Electronic […]
Recently introduced regulations on import and export contracts bring important changes to the technology licensing regime in China. Technology transfers have long been an integral part of China’s economic development. According to the Ministry of Foreign Trade and Economic Cooperation (Moftec), high-technology exports amount to 17 per cent of total exports, worth about US$45bn a […]
The issuance of Circular 59 has sent a loud and clear message to taxpayers: China is getting serious in its transfer pricing enforcement. Since then, the Chinese tax authorities have acted to reinforce this message. Measures include: a sharp rise in the number of transfer pricing investigation cases, with a corresponding increase in the amount […]