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Cross-border Clarity for E-commerce
China’s booming e-commerce sector has become an increasingly global phenomenon, but the expansion into international trade has been dogged by a lack of clarity over what is simply a retail product bought abroad, what is cargo that needs to meet import regulations and how it all should be taxed.
Law: Red Cross Must Be Transparent
A new regulation that stipulates the legal liabilities of the Red Cross and its staff if they “do not give feedback to donors in accordance with the law” is being added to the revised draft of the Red Cross Society Law, reported China News Service on February 22.
Collectors Have Important Role in Cultural Preservation
China encourages the legal acquisition of cultural relics by private collectors, according to the 13th Five-Year Plan (2016-2020) for Development of China’s Cultural Heritage released by the State Administration of Cultural Heritage (SACH).
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China Opens Up Domestic Forex Derivatives Market
Foreign institutional investors in China’s inter-bank bond market, with the exception of foreign central banks, will be allowed to conduct domestic RMB foreign exchange (forex) derivatives transactions at qualified domestic financial institutions, according to a circular recently issued by the State Administration of Foreign Exchange (SAFE).
Gates Foundation, Tsinghua Launch Beijing Drug Institute
The Global Health Drug Discovery Institute [GHDDI], jointly founded by the Beijing Municipal Government, the Bill & Melinda Gates Foundation and Tsinghua University, was officially launched in Beijing on March 24.
Customs: Trade Up Sharply in January
The total value of China’s imports and exports in January increased by 19.6 percent year on year, according to the General Administration of Customs (GAC), the country’s customs authority.