December 2010

China: That which does not kill us makes us stronger...

That which does not kill us makes us stronger.  Well, I'm not sure if being here long enough to be opening year ten has made us any stronger, but it certainly not killed us yet.
Now, I have often been quoted as saying to clients, keep your arms and hands inside of the moving vehicle at all times because living and working here is often a bit like a roller coaster.   But there has been nothing like a near death experience.  Except for that whole pesky situation where we were deported for a week.   The upside there was a family vacation in Hong Kong, so, no harm no foul.
And on the up side, we have been able to see the WTO come into being here, followed by each sequential ramp up on the ten year commitments China gave as a developing economy. Manned space flight, the Olympics, the World's Fair, the Asian Games.  Umm.  I guess they got over that 3rd world country label.  Developing economy, my ass.

Austerity VS My Father is Li Gang

The 2010 most popular network glossary in USA is AUSTERITY and “My father is Li Gang” in China Mainland.  We can tell USA has not break away from the shadow of economic crisis until 2010 and China’s severest problem is anti-corruption from these two popular word and phrase. The USA’s excessive waste is worldwide well-known. Li Gang is a local governor whose son killed a college student in college campus when driving a luxury racing car to pick up his girl friend.  Li Gang’s son roared to the school guard to let everybody know his father is who and tried to escape the spot.
The top CTR blog about USA in China is that the teacher in USA Kindergarten made a list to the parents to show what kind of Christmas gift she wants to receive, which can show the life of USA people is really in a hard situation.

Urban Construction Tax and Education Surcharge from Dec. 1

As of today, all foreign-invested enterprises are obligated to pay the urban construction tax and education surcharge. These taxes have been applied to local businesses since 1985 and 1986, respectively, and will now be applied universally as part of the government’s program of tax unification.
Until now, FIEs have been exempt from paying these taxes as a way to attract foreign investment. However, in guofa 35, an amendment to the national law, the State Council directed that the exemption be lifted as of December 1, 2010. This means that a business will pay the additional taxes in January for income derived from the month of December.

Shenzhen Housing Provident Fund

taxes.jpgAfter about 20 years of not following the Central Government authority regulations on Housing Provident Funds, the Shenzhen Government is now following the National Law, sort of...

Everywhere else in China, for as long as we have been here, employers have been required to pay 13% of any workers salary to what is known here as the Housing Provident Fund.  In short, this means that you paid 13% of a worker's salary into a pooled account and that person is allowed to draw down and use those funds to help make the down payment when buying a house    



New Regulation about Immigration To Shenzhen, China

It is important to know this new regulation for all foreigners who are applying or holding Z-VISA in Shenzhen, China. Briefly saying, you should go back to the beginning point after you finish all the old procedures of applying Z-VISA. 
According to Article 3 of new regulation issued by Shenzhen Public Security Bureau on July 30, 2010, there is one more step you should complete to close the whole procedure of applying Z-VISA in Shenzhen, China.