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 Ministry of Culture Cracks Down on Illegal AV Products
The Ministry of Culture (MOC) launched a major campaign on 20 July 2006 to rectify, investigate and punish, in accordance with the law ... (full story)

 Foreign Investors Must Use Real Names in Property Purchase
Six ministries including the Ministry of Construction and Ministry of Commerce have jointly issued a set of opinions on regulating and managing foreign investors' ... (full story)

 China Steps Up Regulation of Tender Market
China is in the process of drafting the Implementing Regulations for the Law on Tenders and Bids with a view to establishing a new order for a regulated ... (full story)

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Issue 07, 2006 (01 July)
 Leader
Unified Corporate Income Tax Rate at Around 25%
The draft bill on a unified corporate income tax rate for both domestic and foreign-invested enterprises (FIEs) will be submitted to the National People's Congress ... (full story)

 Policy and Law
Fresh Round of Export Tax Rebate Adjustment Mulled
According to an informed official at the Ministry of Commerce (MOFCOM), China is considering revising its export tax rebate rate and undertaking a related feasibility study ... (full story)
MOFCOM Encourages M&A of Domestic Enterprises by Foreign Firms
The permitted scope of investment by foreign investors in China will be further extended from 1 July onwards under a set of supplementary rules on foreign-funded investment companies ... (full story)

 Local Policy
China's First Food Recall Rule to Take Effect in Shanghai in August
Starting from 1 August, "problematic food" will be recalled in Shanghai. According to the Shanghai food and drug administration, food manufacturers are required to recall within 72 hours ... (full story)
Wuhan Plans ODS Recovery Centre
It is understood that Wuhan is actively planning the establishment of Hubei's first ODS (ozone depleting substance) recovery centre. ODS refers mainly to chemicals containing chlorine and bromine ... (full story)

 Industrial Policy
Standardised Use of Drug Names Required for Advertising from June 2006
According to a circular recently issued by the State Food and Drug Administration, local drug administrations must tighten control ... (full story)
New Rules on Packaging of Import and Export Food Products
To raise the standards in safety, hygiene, health and environmental protection in the packaging of import and export food products ... (full story)

 Services Sector
Shenzhen Offers Better Treatment to Financial Institutions
To encourage more financial institutions to take root in Shenzhen, the Shenzhen authorities will offer better treatment to financial institutions ... (full story)
Seven Types of Personnel Barred from Securities Market
In an effort to uphold the order of the securities market, protect investors' legal rights and public interests, as well as promote the healthy and steady development of the market ... (full story)

 Emerging Opportunities
International Real Estate Firms Eye Second-Tier Cities
First Pacific Davies earlier announced its decision to upgrade its Hangzhou office to a branch company in a bid to make inroads into Zhejiang province ... (full story)

 Human Resources
Shenzhen Raises Minimum Wage to Rmb810
Shenzhen has substantially raised its minimum wage on 1 July. According to the 2006 standards for minimum wage announced by the Shenzhen labour and social security bureau ... (full story)

 Key to Economy and Trade
China Clamps Down on Resurgence of Pyramid Sales
Cases of illegal pyramid sales have been exposed one after another as China prepares to issue its second batch of direct selling licence ... (full story)
China to Regulate Foreign Property Speculation
The Chinese government plans to introduce administrative measures to regulate foreign capital that enters China's domestic real estate market ... (full story)