The Special Administrative Measures for Access of Foreign Investment (Negative List) (2019) (the “Negative List”) promulgated by National Development Reform Commission and Ministry of Commerce went into effect 30 July 2019. The Negative List is revised on a yearly basis to establish the industries in which foreign investment is prohibited or that foreign investors can only take…
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In the market environment, businesses often compete against one another to offer quality services and goods to be consumed. Healthy competition can incentivise businesses to create distinctive services and goods to obtain consumer loyalty, which, overall, may assist in market and economic development. However, dishonest and fraudulent competition in trade and commerce can economically harm…
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On 23 April 2019, the Standing Committee of the National People’s Congress amended the Trademark Law of the People’s Republic of China (“amended Trademark Law”), which went into effect 1 November 2019. The amended Trademark Law revises six articles of the current Trademark Law and increases the monetary penalties for trademark infringement. Specifically, the amended…
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On 28 April 2019, the Supreme People’s Court promulgated the Provisions on Several Issues concerning the Application of the Company Law of the People’s Republic of China V (“The Provisions”). Containing six provisions, The Provisions pave the way to further steps in protecting the corporate rights of shareholders and encourages dispute resolution between shareholders without…
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Value-added tax (VAT) is an indirect tax applied to the sale of goods and provision of services. In 2016, all sectors of the People’s Republic of China were unified into the government VAT system, while various VAT rates were implemented on a sector by sector basis. VAT unification stands to decrease the payable VAT and…
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