{"id":40778,"date":"2021-06-15T00:42:27","date_gmt":"2021-06-15T00:42:27","guid":{"rendered":"http:\/\/asiallians.com\/zh-hant\/?p=40778"},"modified":"2021-06-18T03:38:11","modified_gmt":"2021-06-18T03:38:11","slug":"fdi-china-re-define-small-micro-enterprises-2","status":"publish","type":"post","link":"https:\/\/asiallians.com\/zh-hant\/fdi-china-re-define-small-micro-enterprises-2\/","title":{"rendered":"FDI: China to Re-define Small and Micro Enterprises"},"content":{"rendered":"

[vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” padding_top=”50″ css_animation=””][vc_column][vc_column_text]<\/p>\n

Legal News:<\/h3>\n

[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”center” background_image_as_pattern=”without_pattern” padding_top=”50″ padding_bottom=”50″ css_animation=””][vc_column css=”.vc_custom_1517373139965{background-image: url(http:\/\/asiallians.com\/wp-content\/uploads\/2018\/01\/Picture1.png?id=18554) !important;}”][vc_empty_space][vc_column_text]1. Tax: PRC Stamp Tax Law Released<\/span><\/strong>[\/vc_column_text][vc_empty_space height=”70px”][\/vc_column][\/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” css_animation=””][vc_column][vc_column_text]On June 10, 2021, PRC top legislature passed the Stamp Tax Law, which will take effect as of July 1, 2022. Compared to the previous implemented PRC Stamp Tax Interim Regulation (the \u201cInterim Regulation\u201d), the Stamp Tax Law will abolish\/exempt some tax items, as well as will cut certain tax rates.<\/p>\n

Below is a list of major changes:[\/vc_column_text][vc_empty_space][vc_single_image image=”40775″ img_size=”full” qode_css_animation=””][vc_empty_space][vc_column_text]In China, there are in total 18 existing taxes, and the enactment of Stamp Tax Law means that laws were made for 12 of them.<\/p>\n

(http:\/\/www.npc.gov.cn\/npc\/c30834\/202106\/ac04259fbbc24b9581156b81d3c76275.shtml<\/a>)<\/p>\n

[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”center” background_image_as_pattern=”without_pattern” padding_top=”50″ padding_bottom=”50″ css_animation=””][vc_column css=”.vc_custom_1517373139965{background-image: url(http:\/\/asiallians.com\/wp-content\/uploads\/2018\/01\/Picture1.png?id=18554) !important;}”][vc_empty_space][vc_column_text]2. Arbitration: Enforcement of Arbitration Awards Between Mainland China and Hong Kong eased from May 19, 2021<\/span><\/strong>[\/vc_column_text][vc_empty_space height=”70px”][\/vc_column][\/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” css_animation=””][vc_column][vc_column_text]Last year, a Supplementary Arrangement Concerning Mutual Enforcement of Arbitration Awards between Mainland China and Hong Kong was released to further ease the enforcement process3<\/a><\/sup>.<\/p>\n

According to the Supplementary Arrangement, an applicant will be entitled to apply for the enforcement of an arbitration award\u00a0both at Mainland China court and Hong Kong court simultaneously<\/strong>, and the two courts shall share the information to make sure the total amount enforced by the two courts will not exceed the total amount determined in the arbitration award. This is to improve the previous situation that one can only apply for the enforcement of an arbitration award in one jurisdiction, and only if the debts cannot be paid up, another enforcement application can be filed in the other jurisdiction, which is inefficient to the applicant. However, the concrete implementation date is not clear.<\/p>\n

On May 18, 2021, the Supreme People\u2019s Court published an announcement and according to which, the effective date of the above new rules shall be May 19, 2021.<\/p>\n

(http:\/\/www.court.gov.cn\/fabu-xiangqing-303291.html<\/a>)[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”center” background_image_as_pattern=”without_pattern” padding_top=”50″ padding_bottom=”50″ css_animation=””][vc_column css=”.vc_custom_1517373139965{background-image: url(http:\/\/asiallians.com\/wp-content\/uploads\/2018\/01\/Picture1.png?id=18554) !important;}”][vc_empty_space][vc_column_text]3. FDI: China Passed Law on Hainan Free Trade Port<\/span><\/strong>[\/vc_column_text][vc_empty_space height=”70px”][\/vc_column][\/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” css_animation=””][vc_column][vc_column_text]On June 10, 2021, PRC top legislature passed the Law on Hainan Free Trade Port with immediate effect, making the development and construction of Hainan FTP at the national legislative level.<\/p>\n

The new law follows the general wording stipulated in the Master Plan for the Construction of Hainan Free Trade Port released on June 1, 20204<\/a><\/sup>, without specifying any detailed preferential policies, and the specific preferential policies shall refer to a series of supportive policies released gradually since last year.<\/p>\n

For more details, please refer to our previous released articles:<\/p>\n

\u2022<\/strong>\u00a0China Releases the Overall Plan for Hainan Free Trade Port5<\/a><\/sup>
\n\u2022<\/strong>\u00a0IIT and CIT Preferential Policy in Hainan6<\/a><\/sup>
\n\u2022<\/strong>\u00a0Hainan Released \u201cZero-Tariff\u201d Policy for Raw\/Auxiliary Materials Imported7<\/a><\/sup>
\n\u2022<\/strong>\u00a0Hainan Released \u201cZero Tariff\u201d Policy for Vehicles and Yachts Imported8<\/a><\/sup>
\n\u2022<\/strong>\u00a0Hainan Released Negative List 20209<\/a><\/sup>
\n\u2022<\/strong>\u00a0Broadened Updated Catalogue of Encouraged Industries of Hainan10<\/a><\/sup>
\n\u2022<\/strong>\u00a0Hainan Released “Zero Tariff” Policy for the Production Equipment for Self-use Purposes11<\/a><\/sup><\/p>\n

The above series of preferential policies triggered a good result on attacking foreign investment. From January to April 2021, 592 foreign-invested enterprises were newly incorporated in Hainan FTP (a 443.12% year-on-year growth) and the foreign capital reached USD 674 million(a 432.72% year-on-year growth).12<\/a><\/sup><\/p>\n

(http:\/\/www.npc.gov.cn\/npc\/c30834\/202106\/eec9070dd18e4b0190cd2abb9345442d.shtml<\/a>)<\/p>\n

As always, Asiallians remains at your service and our teams are currently mobilized in all our offices in Mainland China, Hong Kong and Taipei.<\/p>\n

 <\/p>\n

1.<\/a>\u00a0Tax rate for\u00a0equity transfer<\/strong>\u00a0is still 0.05%.<\/p>\n

2.<\/a>\u00a0Five certificates include Real Estate Certificate, Business License, Trademark Registration Certificate, Patent Certificate and Land Use Certificate<\/p>\n

3.<\/a>\u00a0See our previous article:\u00a0
\nhttp:\/\/asiallians.com\/en\/china-legal-update-legal-news- foreign-investment-china-unveils-shortened-negative-list-market-access\/<\/a><\/p>\n

4.<\/a>\u00a0There are in total 8 chapters:
\nChapter I General Provisions
\nChapter II Trade freedom and convenience
\nChapter III Investment freedom and convenience
\nChapter IV Financial tax system
\nChapter V Ecological environment protection
\nChapter VI Industrial development and talent support
\nChapter VII Comprehensive measures
\nChapter VIII Supplementary provisions<\/p>\n

5.<\/a>\u00a0http:\/\/asiallians.com\/china-legal-update-ncp-outbreak-fast-track-visa-application-foreigner-employees\/<\/a><\/p>\n

6.<\/a>\u00a0http:\/\/asiallians.com\/en\/china-legal-update-ncp-outbreak-update-beijing-covid-19-outbreak\/<\/a><\/p>\n

7.<\/a>\u00a0http:\/\/asiallians.com\/en\/china-legal-update-ncp-outbreak-double-negative-tests-results-required-entering-china-france\/<\/a><\/p>\n

8.<\/a>\u00a0http:\/\/asiallians.com\/legal-news-eu-china-reached-comprehensive-agreement-investment\/<\/a><\/p>\n

9.<\/a>\u00a0http:\/\/asiallians.com\/en\/legal-news-china-released-blocking-rules-counteract-us-long-arm-jurisdiction\/<\/a><\/p>\n

10.<\/a>\u00a0http:\/\/asiallians.com\/en\/legal-news-major-step-taken-civil-commercial-litigation-easy-online-filing-cross-border-litigation-initiated-foreigners-foreign-based-residents\/<\/a><\/p>\n

11.<\/a>\u00a0http:\/\/asiallians.com\/en\/legal-news-china-clarifies-punitive-damages-ip-infringement\/<\/a><\/p>\n

12.<\/a>\u00a0https:\/\/new.qq.com\/omn\/20210608\/20210608A0E34900.html<\/a><\/p>\n

 <\/p>\n

\n

Feel free to contact asiallians@asiallians.com<\/strong><\/a> for more information.<\/p>\n

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On November 11th, 2015, the sales volume of Taobao (a B2C platform owned by Alibaba Group) reached CNY 91.2 billion (around 14 billion USD), with around 680 million online deals completed and the packages delivered all across the country.<\/p>\n","protected":false},"author":5,"featured_media":23743,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[175],"tags":[],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\t\n\t\n\t\n