China eases tax compliance burden: report -- Reform and technology have helped ease China's tax compliance burden, reducing the delay in paying taxes by 20 percent in 2016, a report has shown. The time for taxpayers to comply fell to 207 hours last year from 259 hours in 2015, a 75-percent reduction since 2004, according to a report by PricewaterhouseCoopers and the World Bank Group.
China to raise cost of IPR infringement -- The State Council, China's cabinet, said Wednesday that penalties for IPR infringement will be increased to lower the cost of safeguarding such rights. PR protection will be improved by internet tracing of sources, real-time monitoring and online identification of infringements, according to a statement following an executive meeting.
CSRC releases revised measures on securities exchange administration -- The revised measures on securities exchange administration recently released by the China Securities Regulatory Commission (CSRC) will come into effect as of January 1, 2018, said the CSRC spokesperson Chang Depeng at a regular press briefing on November 17.The CSRC started to solicit public opinions on the revised measures since September 1, 2017. The revised measures highlight the self-regulation attribute of stock exchanges.
China steps up marine inspections -- China has begun a new round of marine inspections to deal with land reclamation problems, according to the State Oceanic Administration. This round of inspections will focus on reclamation processes as well as marine resource exploitation and utilization.
China encourages private investment in manufacturing upgrade -- China wants its private sector to play a larger role in the country's pursuit of high-end manufacturing, according to a government guideline. The guideline, which has been jointly released by 16 government departments including the Ministry of Industry and Information Technology and the National Development and Reform Commission, said measures will be introduced to break the barriers that hamper private investment.
China draws up draft law on resource tax -- China has formulated a draft law on resource tax in a bid to conserve natural resources and protect the environment. The draft law was released on November 20 by the Ministry of Finance (MOF) and the State Administration of Taxation for public comment.
NDRC to further cut coal price, official -- Chinese government authorities will adopt comprehensive measures to guide the coal price to fall and maintain it within a reasonable range, Lian Weiliang, deputy head of the National Development and Reform Commission, said on November 21. According to latest statistics, China's benchmark power coal price averaged at 576 yuan/tonne in the week of November 16-22, remaining at a relatively high level.
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