China’s National People’s Congress (NPC) Discusses Report on Water Pollution Control

China’s National People’s Congress (NPC), the country’s top legislature, began discussing a report on water pollution prevention and control on Wednesday. Zhou Shengxian, the Environmental Protection Minister, delivered the report at a plenary session of NPC Standing Committee. China has paid increasing attention to ecological challenges and environmental problems as it seeks to balance its…


The State Administration for Industry and Commerce issues New Rules on Capital Contribution with Equities

On 14 January, the State Administration for Industry and Commerce issued the Measures for Administration of the Registration of Capital Distribution with Equities (hereafter referred to as “Measures”), which comes into effect on 1 March, 2009. The Measures give the legal basis and clear guidelines for the registration of capital contribution in the form of…


The Recycling Economy Promotion Law

The Recycling Economy Promotion Law, which comes into effect on January 1 2009, represents a significant step forward to an energy-saving and environmental-friendly society. The law follows the “three Rs” (reduce, reuse, recycle) principle. The first R means reducing resource consumption and waste generation in the process of production, circulation and consumption. The second R…


Tax. Business Tax on Foreign Services

On November 10, 2008, the China State Council issued the amended Provisional Regulations of the PRC on Business Tax (“BT Regulations”). On December 15, 2008, the Ministry of Finance and the State Administration of Taxation (“SAT”) issued the Implementation Rules of the Provisional Regulations of the PRC on Business Tax (“BT Rules”). Both the BT…