Monthly Archives: August 2013
1. Cover story
2. Economy outlook
3. Financial strategy
4. Legal spotlight
5. Point of interest
7. Remark from editor
The State Council of China has officially approved to establish China (Shanghai) Pilot Free Trade Area (FTA) recently, which consists of four areas under special customs supervision, including Shanghai Waigaoqiao Bonded Zone, Waigaoqiao Bonded Logistics Park, Yangshan Bonded Port and Shanghai Pudong Airport Free Trade Zone, with the total area of 28.78 square kilometers. Continue reading
According to a new market research report, the infant food industry is in the rapid development stage in China. In 2012, the cumulative shares of the top five brands nearly reached 60% in China’s infant milk powder market. With the increasing competitive market, the concentration ratio of infant milk powder industry is continuously improved. Continue reading
Hong Kong Financial Secretary John Tsang signed the 10th supplement to the Mainland & Hong Kong Closer Economic Partnership Arrangement, or CEPA, August 29, 2013.
He signed the deal with Vice Minister of Commerce Gao Yan at the Central Government Offices in Hong Kong. It provides for a total of 73 services liberalisation, and trade and investment facilitation measures. It brings the total number of liberalisation measures for trade in services under CEPA to 403. Continue reading
August 1, 2013 marks the fifth anniversary of the implementation of China’s Anti-monopoly Law. And MOFCOM has diligently performed its functions over the past five years, and has made positive progress in the enforcement of Anti-monopoly Law.
The supporting legislation system for the review of concentration of undertakings has been basically formed in China. Since the implementation of the Anti-monopoly Law, MOFCOM has constantly promoted and improved the supporting laws and regulations, and has issued a series of administrative rules and regulations, the guidelines for the Antimonopoly Committee, department regulations and regulatory documents in accordance with the requirement of the enforcement of the Anti-monopoly Law, and relevant provisions of the Anti-monopoly Law has been specified to facilitate the implementation of the law and increase transparency of the enforcement. MOFCM has formulated a series of laws and regulations in such areas as definition of relevant market, petition, review and remedy measures in accordance with the requirement of law enforcement, and a system of rules and regulations including administrative regulations of the State Council, the guidelines of the Anti-monopoly Committee, department rules of MOFCOM and the guidance for the Anti-Monopoly Bureau of MOFCOM has been established. Continue reading
Renowned Hong Kong fashion designer Lulu Cheung took on a fresh challenge when she agreed to be a Museum of History tour guide as part of a workshop on its exhibition featuring Qing dynasty costumes. The exhibition runs until October, and features more than 130 costumes, one-third of which have never been displayed before. The creative workshop targeted people aged 16 to 25 who have an interest in Chinese culture, or who plan to join the ‘rag trade’. Continue reading
Director-General elect, Roberto Azevêdo has announced the appointment of Yi Xiaozhun of China, Karl-Ernst Brauner of Germany, Yonov Frederick Agah of Nigeria and David Shark of the United States as his four Deputies Director-General. The new Director-General will begin his term on 1 September while his deputies begin service on 1 October 2013. Continue reading
Shanghai has always been the locomotive of Chinese business development. Without exception, Shanghai is once again chosen to spear head the pilot project of establishing free trade areas (FTAs) in the city. What comes with the pilot project remains murky. The revision of regulations is pending. But general belief is that it includes loosening up import and export restrictions, quota limits, foreign exchanges and tariffs. Continue reading