| | Weekly business and foreign investment news roundup in Asia by Asia Briefing and Dezan Shira & Associates. |
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| | | | China's most recent stimulus package marks a critical move to counteract the nation’s economic slowdown and promote high-quality development. The stock market witnessed an immediate boost, but questions remain about the long-term impact. | | | | | All long-term commercial contracts that represent significant and fixed costs for a business are suitable for renegotiation. A comprehensive approach with flexible pricing terms and robust performance management will lead to significant savings and greater resilience. | | | | | The MOF and STA announced expanded stamp tax incentives and streamlined processes for restructuring enterprises. Foshan City in Guangdong lowered the industry tax rate for individual businesses under the assessed collection method, effective January 1, 2025. Additionally, Hong Kong signed its 51st CDTA with Türkiye, and the MOF introduced a zero-tariff policy on drugs and medical devices in Hainan's Boao Lecheng Pilot Zone. The STA also released guidelines for export tax refunds for cross-border e-commerce overseas warehouses. | | | | | Ultra-high-net-worth individuals and families are increasingly drawn to Hong Kong for setting up family offices due to its competitive tax regime and new initiatives like the Capital Investment Entrant Scheme (CIES). This, along with tax concessions for Family-owned Investment Holding Vehicles (FIHVs), has led to a rise in interest from potential family office founders. | | | | | EU’s inconclusive vote on Chinese EV tariffs has left the final decision with the European Commission; China implements temporary anti-dumping measures on EU brandy. | | | | | Brazil ranks as China’s ninth-largest trading partner, while China holds the position of being Brazil’s largest trade partner. In 2023, the bilateral trade volume between China and Brazil reached US$181.53 billion, marking a 6.1 percent year-on-year increase. |
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COMPLIMENTARY BUSINESS RESOURCES: |  | | | This issue of ASEAN Briefing offers an overview of Indonesia's labor market, covering local employment laws, key trends, and emerging sectors, providing insights into workforce dynamics and opportunities in the country. | | | | | In this issue of China Briefing magazine, we delve into the most effective cost reduction strategies observed in Chinese business practices, encompassing both immediate cost-saving measures and long-term approaches to boost operational efficiency and competitiveness. | | | | | As Vietnam boosts its global trade role, this Vietnam Briefing edition covers key import-export regulations, customs procedures, on-spot export regimes, and VAT rules, along with insights on documentation, processing times, and VAT refunds. |
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UPCOMING EVENTS FOR ASIA: | | | In-Person & Online | Wednesday 15 October 2024 | International Chamber House, Level 5, 121 Exhibition Street, Melbourne | 3.00pm - 4.30pm AEDT / 12:00 pm - 1:30pm China Time | | | | | Webinar | Tuesday, October 15, 2024 | 4:00 PM China / 3:00 PM Vietnam / 10:00 AM CEST / 9:00 AM UK | | | | | Conference | October 24-25, 2024 | Beijing, China |
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