On January 6, 2012, the Ministry of Finance (MOF) and the Ministry of Industry and Information Technology (MIIT) issued a joint statement outlining a number of preferential procurement policies for small- and medium-sized enterprises (SMEs) to boost their development. Government agencies usually prefer larger companies and well-known brands during the procurement process, and SMEs have had a difficult time successfully bidding on tenders.Continue Reading China Adopts Procurement Policies for SMEs
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Doing Business at ART HK: Better, Bigger, Faster, Stronger
By Sheppard Mullin on
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On the verge of becoming an international institution, the recent Hong Kong International Art Fair, known as "ART HK," represents an exciting development in the state of the art world in China. This growth has critical, yet profoundly inspiring, implications upon the international art community. Since its humble beginnings in 2008, ART HK has shown rapid growth with over 260 galleries from over 38 countries participating in the recent fair. Momentum of ART HK’s success and prominence was recently propelled by an announcement that MCH Swiss Exhibition, owners of Art Basel, the world’s biggest contemporary art fair, have just signed an agreement with Asian Art Fairs, the owners of ART HK, to purchase a majority stake in ART HK, which went into effect on July 1, 2011. This tactical move, combined with rising auction revenue, favorable tax considerations, a newfound interest in art as an asset class, and interest based on national identity, cements China’s role in the global art market.
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China Restricts Growth of Polysilicon Industry
By Sheppard Mullin on
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On December 31, 2010, China’s Ministry of Industry and Information Technology (“MIIT”), National Development and Reform Commission (“NDRC”) and Ministry of Environmental Protection issued a joint circular setting a limit on the number of new projects the government will approve in the polysilicon industry.Continue Reading China Restricts Growth of Polysilicon Industry
China Issues New Rules Against Price Fixing
By Sheppard Mullin on
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On December 29, 2010, the National Development and Reform Commission promulgated Regulations against Price Fixing (the “Regulations”) which will take effect on February 1, 2011.Continue Reading China Issues New Rules Against Price Fixing
China to Solicit Public Opinions On Administration of Enterprise Annuity Funds
By Sheppard Mullin on
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The Ministry of Human Resources and Social Security recently issued the Measures for the Supervision and Administration of Enterprise Annuity Funds (Draft) (“the Draft”) and sought public comments on the Draft. The Draft amended the currently effective Interim Measures for the Administration of Enterprise Annuity Funds in several important respects, as highlighted below:Continue Reading China to Solicit Public Opinions On Administration of Enterprise Annuity Funds