New policy to strengthen cooperation among Guangzhou, Hongkong, Macau and Taiwan
On March 10, 2012, State Administration of Industry and Commerce issued the Opinion on Promoting a Happy Guangdong ("Opinion") which consists of five parts with 32 articles in total, among which, 19 articles are concerning company registration.
Ban on foreigners to purchase commercial property
The Notice makes it clear the central regulatory policy on real estate shall be carried out strictly, and it clarifies the foreigner who work in China over one year may purchase only one residential property, and the subsidiary and representative office set up by foreign company may only purchase non-residential property.
Higher standard for foreign-invested hospital
The Bill maintains the percentage of foreign share-holding at 70% and goes further that "the percentage can be adjusted to the practical need, and restrictions on wholly-foreign owed hospital is being lifted".
Eight planned reforms, prioritizing the admission of private fund
On February 15, 2012, the Stat Council deployed eight key reforms for further restrustruring the economic system in standing conference. The admission of private fund is labeled as the priority of the key reforms.
Vehicle accidental compulsory insurance will be open to foreign insurance company
The fact sheet mentions China has decided the vehicle accidental compulsory insurance will be open to foreign insurance company after some legislative procedures.
Precedent of foreigner drunk driving in regions of Guangdong
On May 1, 2011, the revised Law of Road Traffic Safety of PRC enhance the penalty on drunk driving, such as the revocation of driving license, deprivation of qualification to driving exam in five years and imposition of criminal penalty.
Pilot change from business tax to value added tax
The tax rate will be decreased to 11% and 6% from the current rate of 17% and low rate of 13% respectively. 17% is applicable to the lease of tangible property, and 11% is applicable to transportation and real estate construction and etc. 6% is applicable to the service industry.
The issue of autos shipped from aboard into China
Since July 1, 2010, resident organization and resident foreigner shall not ship the auto into China unless otherwise provided by the treaty between the government on tax exemption of such issue.
Interim Measures for Investigating and Handling Failure to Legally Declare the Concentration of Business Operators Issued by Ministry of Commerce
In accordance with the Anti-Monopoly Law of PRC, for preventing monopoly and unfair competition due to controlling shares or large shares in market, the business operator shall declare to the Ministry of Commerce when concentrating his business.
Do's and dont's for foreigners in China
Applicants should check the validity of visa and entry number before they come to China. You should apply for a visa, if your visa expires, or insufficient number of entries.