Corporate Governance

Wholly foreign-owned construction project service enterprises allowed.

The new Guidelines detail what information is required from a notifying party in its submission to the Antitrust Investigation Office. Key procedural issues are also clarified.

The new Enterprise Income Tax Law will take effect on January 2008. What changes should be expected by foreign investors?

Industrial land is subject to a new set of regulations in terms of granting procedures, granting prices, urban land use tax and requirements governing the conditions of using industrial land.

Tax issues clarified in the restructuring of foreign-invested banks.

Enterprise income tax rate for both FIEs and domestic companies set at 25%.

Shenzhen Stock Exchange still allows memebers to purchase seats from it.

Shanghai Stock Exchange no longer approves new seats.

Foreign banks are encouraged to set up banks with legal personality.