Retail Trade and Distribution

VAT system changed from production-based to consumption-based.

According to the revised Regulations, the amount of consumption tax payable may be calculated ad valorem, at a flat rate or by a combination of the two.

A sweeping VAT reform takes place in China on January 1 2009. It will benefit many domestic companies but could block the cash-flow of some foreign invested enterprises, removing advantages enjoyed under the old tax regime. By Joanna Law.

Approval procedures for commercial FIEs streamlined.

The Circular states that, with certain exceptions, the investment in and establishment of commercial enterprises by foreign investors shall be subject to the examination of the provincial-level departments in charge of commerce.

China's legal market continues to attract high-end, complicated and multi jurisdictional work and in Beijing this month, the China Law & Practice awards will reflect the complexities and challenges. Chris Bisogni and Joanna Law provide a summary of the deals and firms that made the 2008 shortlist.

China sets entry requirements for manufacture of alternative energy vehicles.

The Rules specify the qualifications for production of alternative energy vehicles and the administration of the vehicle production enterprises and products.

King Jouet, a French retailer of children's recreation and leisure, will open stores in the PRC within an unlimited period with Carrefour, an international…