China Implements the use of digital invoices in the Civil Aviation Sector
In a step toward modernizing financial processes and enhancing operational efficiency, the State Administration of Taxation, the Ministry of Finance, and the …
Comprehensive Overview of China’s Export Control Regulations on Dual-Use Items
On 19 October 2024, China officially promulgated the “Regulations on Export Control of Dual-Use Items” under State Council Order No. 792, set to take effect on 1 December 2024.
China Launches Fully Digitized E-Invoices for Railway Passenger Transport
The State Administration of Taxation, the Ministry of Finance, and China State Railway Group Co., Ltd. Collectively have announced the nationwide promotion of fully …
China Implements Pilot Reform of Water Resources Tax
China’s new pilot reform for water resources taxation, effective December 1, 2024, represents a major step forward in sustainable resource management and …
China Gradually Increases Legal Retirement Age
On 13 September 2024, the Standing Committee of the 14th National People’s Congress adopted a decision to implement the gradual postponement of the statutory …
China Refines Carbon Emissions Statistical Accounting System
On October 24, 2024, China’s National Development and Reform Committee, together with seven other departments released its work plan to refine and reinforce its …
China Launches Pilot Program For Foreign Investment In Medical Industry
China’s Ministry of Commerce, National Health Commission and the State Food and Drug Administration, have issued Circular [Shang Zihan (2024) No. 568], …
Hainan Free Trade Port Expands “Zero Tariff” Policy for Drugs and Medical Devices
In line with China’s ongoing efforts to boost the development of the Hainan Free Trade Port, a new “zero tariff” policy has been introduced to facilitate the import of drugs …
China Approves 2024 Negative List For Foreign Investment Access
China’s State Council has approved the updated Negative List for Foreign Investment Access (2024 Edition). Restrictions on foreign investment in the manufacturing …
Measures for the Administration of Beneficial Owner Information
On April 29, 2024, the People’s Bank of China (PBOC) introduced the “Measures for the Management of Beneficial Owner Information,” a regulation that will take effect on …