
More recent developments

China tightens value-added tax refund regime to boost revenue
China is overhauling its value-added tax (VAT) refund regime. Per a Friday notice published by the finance ministry (MoF) and the tax bureau (STA), starting September, only eligible general taxpayers in four sectors – manufacturing, R&D, software and IT services,… Read More »

FM Wang Yi meets with South Korean presidential envoy
On Sunday, top diplomat Wang Yi met with South Korean Presidential Envoy Park Byeong-seug in Beijing. Some context: Following years of strain, ties between China and South Korea have shown a notable upswing since Lee assumed office in June. Lee is… Read More »

State Council takes stock of consumption, industrial upgrading subsidy programs
On Friday, Premier Li Qiang chaired a State Council executive meeting, which took stock of China’s industrial equipment upgrade and consumer goods trade-in programs. Some context: Beijing has earmarked RMB 300 billion for consumer goods and RMB 200 billion for… Read More »