China
Taiwan’s Diminishing Media Freedom
Given its location in a region marked by repressive regimes and tight media controls, it might seem to be splitting hairs to parse media freedoms in Taiwan. According to Freedom House’s most recent Freedom of the Press report released earlier this week, Taiwan remained a ‘free’ country, rated well above fellow so-called Asian tigers South Korea, which was rated ‘partly free,’ and Singapore, rated ‘not free.’ It’s noteworthy nevertheless that Taiwan, despite doing better than its neighbors, has slid in the Freedom House rankings during each of Ma Ying-jeou’s three-years as president, falling from 32nd in 2008 to its current position at 48. Due to the relative infancy of media freedom in Taiwan, the roots of which extend to the late 1980s, and the close attention paid to the lack of those rights in China, many of the events the report calls attention to have led to widespread concern around Taiwan. Freedom House, a U.S.-based democracy advocacy group founded in the 1940s , praised Taiwan’s media environment as “one of the freest in Asia,” but noted “a growing trend of marketing disguised as news reports, a proposed legal amendment that would limit descriptions of crime and violence in the media, and licensing obstacles” as concerns that led to the lower rating. In a review of the report, Commonwealth Magazine noted that Taiwan has been hit with a “negative point” in the economic environment category each year since 2008, indicating growing concern over the effect commercial interests have had on the independence of Taiwanese media. The report cited the December resignation of a senior reporter, Dennis Huang, at the China Times following what he said was an “ invasion of regular news pages by advertorials .” The practice of placing “embedded marketing” or articles paid for by commercial interests without identifying them as advertisements within newspapers has been a concern in Taiwan for years, but Mr. Huang’s resignation catapulted it into the public spotlight. The government amended the Budget Law in January to prohibit the use public funds in paying for advertisements (something it did when promoting the Floral Expo last year), but Freedom House says concerns remain about the buying of news by the mainland Chinese government . The report also pointed to worrying signs that Taiwanese media may be subject to commercially-motivated censorship stemming from the island’s relationship with mainland China, singling out a column that ran in the China Times on June 4, the anniversary of the Tiananmen Square massacre. The column listed historically important events on both sides of the Taiwan Strait, but did not bring up the crackdown. As Freedom House notes, China Times is owned by Tsai Eng-meng, a businessman with extensive interests in China. “As commercial ties between Taiwan and mainland China deepened in 2010 with the signing of the Economic Cooperation Framework Agreement, press freedom advocates raised concerns that media owners and some journalists were whitewashing news about China to protect their own financial interests,” the report said. The report also brought up growing concerns about an increasing political polarization of Taiwan’s media sources, subjective reasoning for the repeated rejection of an application by Next Media to start a cable television channel, and a new un-passed law designed to limit depictions of violence, drug use and lewdness in media. The government may have a lot of work to do to improve Taiwan’s standing in next year’s rankings, but many of the island’s media problems come from within the journalism profession itself, says Dennis Peng, associate professor of journalism at National Taiwan University. Beyond the advertorials and limits on lewdness, Taiwanese media is plagued by exaggerated stories and rigged scenes, according to Mr. Peng. “Competition in TV news is fierce and most media have already given up their guard of ethics,” he says. “The only bottom line left is the legal one.” Mr. Peng said he had little hope this race to the bottom would end anytime soon, but a strong reaction around Taiwan to exaggerated coverage of the Japan earthquake – one local station broadcast a clip of a tsunami from Deep Impact striking New York ahead of the local news – demonstrates people in Taiwan are growing increasingly weary of the hyperbole. Whether or not the trends in Taiwanese media can be reversed remains unclear, but the action taken against the paid ads at least demonstrates that some on the island are willing to make the effort. – Paul Mozur, with contributions from Aries Poon.
Given its location in a region marked by repressive regimes and tight media controls, it might seem to be splitting hairs to parse media freedoms in Taiwan. According to Freedom House’s most recent Freedom of the Press report released earlier this week, Taiwan remained a ‘free’ country, rated well above fellow so-called Asian tigers South Korea, which was rated ‘partly free,’ and Singapore, rated ‘not free.’ It’s noteworthy nevertheless that Taiwan, despite doing better than its neighbors, has slid in the Freedom House rankings during each of Ma Ying-jeou’s three-years as president, falling from 32nd in 2008 to its current position at 48. Due to the relative infancy of media freedom in Taiwan, the roots of which extend to the late 1980s, and the close attention paid to the lack of those rights in China, many of the events the report calls attention to have led to widespread concern around Taiwan. Freedom House, a U.S.-based democracy advocacy group founded in the 1940s , praised Taiwan’s media environment as “one of the freest in Asia,” but noted “a growing trend of marketing disguised as news reports, a proposed legal amendment that would limit descriptions of crime and violence in the media, and licensing obstacles” as concerns that led to the lower rating. In a review of the report, Commonwealth Magazine noted that Taiwan has been hit with a “negative point” in the economic environment category each year since 2008, indicating growing concern over the effect commercial interests have had on the independence of Taiwanese media. The report cited the December resignation of a senior reporter, Dennis Huang, at the China Times following what he said was an “ invasion of regular news pages by advertorials .” The practice of placing “embedded marketing” or articles paid for by commercial interests without identifying them as advertisements within newspapers has been a concern in Taiwan for years, but Mr. Huang’s resignation catapulted it into the public spotlight. The government amended the Budget Law in January to prohibit the use public funds in paying for advertisements (something it did when promoting the Floral Expo last year), but Freedom House says concerns remain about the buying of news by the mainland Chinese government . The report also pointed to worrying signs that Taiwanese media may be subject to commercially-motivated censorship stemming from the island’s relationship with mainland China, singling out a column that ran in the China Times on June 4, the anniversary of the Tiananmen Square massacre. The column listed historically important events on both sides of the Taiwan Strait, but did not bring up the crackdown. As Freedom House notes, China Times is owned by Tsai Eng-meng, a businessman with extensive interests in China. “As commercial ties between Taiwan and mainland China deepened in 2010 with the signing of the Economic Cooperation Framework Agreement, press freedom advocates raised concerns that media owners and some journalists were whitewashing news about China to protect their own financial interests,” the report said. The report also brought up growing concerns about an increasing political polarization of Taiwan’s media sources, subjective reasoning for the repeated rejection of an application by Next Media to start a cable television channel, and a new un-passed law designed to limit depictions of violence, drug use and lewdness in media. The government may have a lot of work to do to improve Taiwan’s standing in next year’s rankings, but many of the island’s media problems come from within the journalism profession itself, says Dennis Peng, associate professor of journalism at National Taiwan University. Beyond the advertorials and limits on lewdness, Taiwanese media is plagued by exaggerated stories and rigged scenes, according to Mr. Peng. “Competition in TV news is fierce and most media have already given up their guard of ethics,” he says. “The only bottom line left is the legal one.” Mr. Peng said he had little hope this race to the bottom would end anytime soon, but a strong reaction around Taiwan to exaggerated coverage of the Japan earthquake – one local station broadcast a clip of a tsunami from Deep Impact striking New York ahead of the local news – demonstrates people in Taiwan are growing increasingly weary of the hyperbole. Whether or not the trends in Taiwanese media can be reversed remains unclear, but the action taken against the paid ads at least demonstrates that some on the island are willing to make the effort. – Paul Mozur, with contributions from Aries Poon.
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Taiwan’s Diminishing Media Freedom
China
China Implements New Policies to Boost Foreign Investment in Science and Technology Companies
China’s Ministry of Commerce announced new policy measures on April 19, 2023, to encourage foreign investment in the technology sector. The measures include facilitating bond issuance, improving the investment environment, and simplifying procedures for foreign institutions to access the Chinese market.
On April 19, 2023, China’s Ministry of Commerce (MOFCOM) along with nine other departments announced a new set of policy measures (hereinafter, “new measures”) aimed at encouraging foreign investment in its technology sector.
Among the new measures, China intends to facilitate the issuance of RMB bonds by eligible overseas institutions and encourage both domestic and foreign-invested tech companies to raise funds through bond issuance.
In this article, we offer an overview of the new measures and their broader significance in fostering international investment and driving innovation-driven growth, underscoring China’s efforts to instill confidence among foreign investors.
The new measures contain a total of sixteen points aimed at facilitating foreign investment in China’s technology sector and improving the overall investment environment.
Divided into four main chapters, the new measures address key aspects including:
Firstly, China aims to expedite the approval process for QFII and RQFII, ensuring efficient access to the Chinese market. Moreover, the government promises to simplify procedures, facilitating operational activities and fund management for foreign institutions.
This article is republished from China Briefing. Read the rest of the original article.
China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at china@dezshira.com.
China
Q1 2024 Brief on Transfer Pricing in Asia
Indonesia’s Ministry of Finance released Regulation No. 172 of 2023 on transfer pricing, consolidating various guidelines. The Directorate General of Taxes focuses on compliance, expanded arm’s length principle, and substance checks. Singapore’s Budget 2024 addresses economic challenges, operational costs, and sustainability, implementing global tax reforms like the Income Inclusion Rule and Domestic Top-up Tax.
Indonesia’s Ministry of Finance (MoF) has released Regulation No. 172 of 2023 (“PMK-172”), which prevails as a unified transfer pricing guideline. PMK-172 consolidates various transfer pricing matters that were previously covered under separate regulations, including the application of the arm’s length principle, transfer pricing documentation requirements, transfer pricing adjustments, Mutual Agreement Procedure (“MAP”), and Advance Pricing Agreements (“APA”).
The Indonesian Directorate General of Taxes (DGT) has continued to focus on compliance with the ex-ante principle, the expanded scope of transactions subject to the arm’s length principle, and the reinforcement of substance checks as part of the preliminary stage, indicating the DGT’s expectation of meticulous and well-supported transfer pricing analyses conducted by taxpayers.
In conclusion, PMK-172 reflects the Indonesian government’s commitment to addressing some of the most controversial transfer pricing issues and promoting clarity and certainty. While it brings new opportunities, it also presents challenges. Taxpayers are strongly advised to evaluate the implications of these new guidelines on their businesses in Indonesia to navigate this transformative regulatory landscape successfully.
In a significant move to bolster economic resilience and sustainability, Singapore’s Deputy Prime Minister and Minister for Finance, Mr. Lawrence Wong, unveiled the ambitious Singapore Budget 2024 on February 16, 2024. Amidst global economic fluctuations and a pressing climate crisis, the Budget strategically addresses the dual challenges of rising operational costs and the imperative for sustainable development, marking a pivotal step towards fortifying Singapore’s position as a competitive and green economy.
In anticipation of global tax reforms, Singapore’s proactive steps to implement the Income Inclusion Rule (IIR) and Domestic Top-up Tax (DTT) under the BEPS 2.0 framework demonstrate a forward-looking approach to ensure tax compliance and fairness. These measures reaffirm Singapore’s commitment to international tax standards while safeguarding its economic interests.
Transfer pricing highlights from the Singapore Budget 2024 include:
This article is republished from China Briefing. Read the rest of the original article.
China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at china@dezshira.com.
China
New Report from Dezan Shira & Associates: China Takes the Lead in Emerging Asia Manufacturing Index 2024
China has been the world’s largest manufacturer for 14 years, producing one-third of global manufacturing output. In the Emerging Asia Manufacturing Index 2024, China ranks highest among eight emerging countries in the region. Challenges for these countries include global demand disparities affecting industrial output and export orders.
Known as the “World’s Factory”, China has held the title of the world’s largest manufacturer for 14 consecutive years, starting from 2010. Its factories churn out approximately one-third of the global manufacturing output, a testament to its industrial might and capacity.
China’s dominant role as the world’s sole manufacturing power is reaffirmed in Dezan Shira & Associates’ Emerging Asia Manufacturing Index 2024 report (“EAMI 2024”), in which China secures the top spot among eight emerging countries in the Asia-Pacific region. The other seven economies are India, Indonesia, Malaysia, the Philippines, Thailand, Vietnam, and Bangladesh.
The EAMI 2024 aims to assess the potential of these eight economies, navigate the risks, and pinpoint specific factors affecting the manufacturing landscape.
In this article, we delve into the key findings of the EAMI 2024 report and navigate China’s advantages and disadvantages in the manufacturing sector, placing them within the Asia-Pacific comparative context.
Emerging Asia countries face various challenges, especially in the current phase of increased volatility, uncertainty, complexity, and ambiguity (VUCA). One notable challenge is the impact of global demand disparities on the manufacturing sector, affecting industrial output and export orders.
This article is republished from China Briefing. Read the rest of the original article.
China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at china@dezshira.com.
- China Implements New Policies to Boost Foreign Investment in Science and Technology Companies
- Q1 2024 Brief on Transfer Pricing in Asia
- New Report from Dezan Shira & Associates: China Takes the Lead in Emerging Asia Manufacturing Index 2024
- Is journalist Vicky Xu preparing to return to China?
- Guide for Foreign Residents: Obtaining a Certificate of No Criminal Record in China
- China Unveils Plan to Upgrade Industrial Equipment
