China extends its open arms to residents of the greater China region in a bid to increase convenience and opportunities to people from Hong Kong, Macao and Taiwan. Read on to find out the latest rulings as well as the impact on employment law with the elimination of work permits
Apple pulled out almost 25,000 gambling apps from its China app store, President Trump in no hurry to end the trade-war with China, and CFDA regulators sacked following vaccine scandals ignited by Changsheng
Online streaming service providers are required to carry out ICP record filing procedures, Guangdong clarifies on labor arbitration and litigation issues, and Hong Kong, Macao and Taiwan residents may apply for mainland residence permits.
A 30-day notice in writing is now required from foreign institutions providing cross-border financial network services, new restrictions are imposed on M&As for private schools and financial institutions can now revise the size of their bond offerings.
Employment permit requirements have been lifted for all Hong Kong, Macao and Taiwan residents, oil and gas pipeline facilities are now open to private investment, and Guangdong FTZ now accepts electronic evidence in court
Requirements for strategic investment in A-share companies are lowered, major violations of the law are specified in the delisting system and MAHs may entrust the sale of pharmaceuticals.
A 3-year limitation period is applied to civil law cases, private asset management plans of securities firms are regulated and the number of alternative energy vehicles produced is under control
Aggregate income is applied to individual income tax, foreign companies may use the word “China” in its names and four industries will be opened for power deregulation.
The negative list for foreign investment is relaxed, foreigners are encouraged to invest in the A-share market and insurance companies are required to include independent directors.
FTZ negative list is revised, establishment of financial asset investment companies is specified, commissioned offshore R&D expenses may be super-deducted and enterprises are restricted from purchasing housing in Shanghai.
