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 State Council Approves Revised Draft of Foreign Exchange Rules
An executive meeting of China's State Council held on 1 August reviewed and approved in principle the Regulations on Foreign Exchange Administration (Revised Draft) and other regulations ... (full story)

 IBM Moves Global Procurement Headquarters to Shenzhen
According to senior executives of IBM Shenzhen, IBM has moved its global procurement headquarters to the city following the establishment of its China Procurement Centre (CPC) ... (full story)

 SAT Calls for Stricter Management of Tax Exemptions and Reductions
The State Administration of Taxation (SAT) recently issued a circular calling for all tax authorities to manage tax exemptions and reductions strictly in accordance with ... (full story)

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Issue 07, 2008 (01 July)
 Leader
CBRC to Monitor Eight Types of RMB Accounts
The central government is closely monitoring capital movements in the country's banking system as a precaution against possible risks. This may affect some of the clients of mainland banks ... (full story)

 Policy and Law
No Limits May Be Set on Purchase of Daily Necessities
The Chinese government is now enforcing the Regulations on the Administration of Sales Promotions by Commercial Retailing Units to prevent stockpiling and restrictive sale of daily necessities aimed at jacking up prices ... (full story)
SAIC to Check Unjustified Fees Levied in Name of Post-Quake Reconstruction
The authorities have discovered in quake-hit areas of Sichuan many vicious acts of people taking advantage of the natural calamity to feather their own nests ... (full story)

 Local Policy
"Move of Shanghai Port" Benefits Zhejiang Enterprises
Zhejiang enterprises importing goods via the Pudong International Airport no longer need to go to Shanghai to complete customs clearance formalities such as customs declaration, making payment of import duty and taking delivery ... (full story)
Shandong Invests Rmb1 Billion to Boost Environmental Protection
Shandong invested Rmb1.081 billion to build an automatic monitoring system covering the whole province in 2007 to improve its capabilities for environmental protection ... (full story)

 Industrial Policy
TV Shopping Market Exceeds Rmb10 Bln
According to the Report on the Chinese TV Shopping Market 2008-2009, China's TV shopping market was worth over Rmb10 billion in 2007, with nearly 100,000 hours of TV shopping programmes aired ... (full story)
Hangzhou E-Commerce Enters the Community
By the end of July this year, the biggest and most comprehensive city-wide wireless broadband network on the Chinese mainland will be launched in Hangzhou. Commuters moving at a speed of no more than 100 km per hour ... (full story)

 Services Sector
Dongguan Establishes Business Development Fund
In a move to actively develop modern commercial services, the Dongguan city government has established a commercial circulation sector special development fund. Starting from 2006, the city government would ... (full story)
Guangdong Liberalises Market Access for Services
Guangdong has passed the Implementing Opinions on Expediting the Development of Guangdong Province's Services Industry, and has also considered and passed in principle the Regulations on Implementing and Auditing Guangdong Province's Budget (Draft) ... (full story)

 2008 Olympics
SAIC Clamps Down on Unauthorised Use of Olympic Logo
According to a circular issued by the State Administration for Industry and Commerce (SAIC) recently, industry and commerce administration departments at all levels are called upon to strictly clamp down on unlawful behaviours ... (full story)
Private Recording and Uploading of Olympic Events Faces Fine
Unauthorised uploading of live Olympic events recorded by individuals or unauthorised broadcasting of Olympic events on websites will face a maximum fine of Rmb100,000 ... (full story)

 Human Resources
Shenzhen Raises Minimum Wage from 1 July
The Shenzhen municipal government recently decided to raise the minimum wage on 1 July 2008. After the raise, the minimum wage for workers outside of the Special Economic Zone (SEZ) will be 20% higher than last year ... (full story)
Up to Rmb500,000 Fine for Wage Arrears in Guangdong
Employers that are found to be in arrears or withholding workers' wages and subsequently ordered to rectify the situation by labour and social security department but still fail to comply must pay not only a compensation amount ... (full story)

 Key to Economy and Trade
Online Shopping Poses Serious Challenge to Traditional Retail
In recent years, following the successful listing of a number of e-commerce websites such as ChinaChemnet.com and china.alibaba.com at home and abroad, more and more Chinese internet users are shopping online ... (full story)
Taiwan Deregulates Cross-Strait Securities Investments
On 26 June, Taiwan's Cabinet passed a short-term measure on approving cross-strait securities investments, whereby five financial businesses will be deregulated. One of the five is opening exchange traded funds ... (full story)