22 Jun 2022 Covid-19 Update: Reduction of Arbitration Fees
Covid-19 Update: Reduction of Arbitration Fees
To help enterprises cope with the impact of the new pneumonia epidemic, in the past two months, many arbitration centers such as CIETAC1, SHIAC2, SAC3 and SCIA4 have issued the latest measures to assist enterprises in reducing arbitration fees, including reducing fees for new cases5, mediation/conciliation cases6 and online arbitration cases7. Also, the payment of arbitration fees in installments is accepted by several centers. The table below summarizes the relevant information:
The fee reduction measures cannot be applied cumulatively, and for a case meets more than one reduction policies, the largest fee reduction will prevail. In addition, most of the fee reduction measures require parties to file application by themselves. It is advised to submit applications within the corresponding implementation period, and to contact the arbitration center to confirm the process and requirements.
Should you need any details about the said arbitration fee reduction measures, please kindly reach email@example.com.
FDI: Catalog of Industries for Encouraged Foreign Investment 2022 Released for Public Comments
The National Development and Reform Commission and the Ministry of Commerce are seeking Comments on Catalog of Industries for Encouraged Foreign Investment (2022 Edition), which contain both (1) National Catalogue as well as (2) Catalogue for Central, Western, and northeastern regions (“Western Catalogue”). Foreign investors who invest in the fields in National Catalogue can enjoy tariff exemption for imported self-use equipmentwithin the total investment amount if they meet the conditions. Also, foreign-funded enterprises set up in the encouraged industries in Western Catalogue can be levied a reduced enterprise income tax of 15%.
Compared to previous 2020 edition, wider access will be granted to foreign investors and the specific changes on number of items in the draft 2022 Edition are as follows:
Regarding new encouraged industries for potential foreign investors, examples in the draft 2022 Edition is that in the field of instrument manufacturing, there are newly added industries such as glow discharge mass spectrometer and transmission electron microscopy. Should you need to know more details about the newly added industries, please kindly contact firstname.lastname@example.org.
As always, Asiallians remains at your service and our teams are currently mobilized in all our offices in Mainland China, Hong Kong and Taipei.
1. China International Economic and Trade Arbitration Commission
2. Shanghai International Arbitration Center
3. Shanghai Arbitration Commission
4. Shenzhen Court of International Arbitration
5. New cases refer to cases where the arbitration request is newly submitted during the implementation period.
6. Mediation/conciliation cases refer to arbitration cases that are settled by negotiation or conciliation during the arbitration proceeding.
7. Online arbitration cases refer to arbitration cases that are conducted online.