China
Chinese Premier Shows Off Basketball Skills
Look out Barack Obama, you’re not the only world leader who can double as commander in chief of the basketball court. On the eve of International Children’s Day, Chinese state television’s main evening news broadcast Tuesday carried extensive coverage of Premier Wen Jiabao’s visit to a Beijing elementary school, where the 68-year-old joined in a game of hoops with students. Clad in a white sleeveless basketball jersey, matching shorts, and black socks and sneakers—remarkably casual attire for a top Chinese leader to wear in public—Mr. Wen appeared impressively fit for a near-septuagenarian, not to mention surprisingly proficient with a basketball. The China Central Television footage makes it clear that Mr. Wen’s no Yao Ming. The premier isn’t much taller than the youngsters he played against (mostly sixth-graders), and they were using junior hoops that were clearly lower than the standard 10 feet for adult roundball. Nor does he actually appear to be a real match for President Obama, who has also tested his skills against students— albeit tall high schoolers –and whose on-court skills have inspired more than one video tribute . And Mr. Wen’s opponents were clearly playing soft defense—no sign of the sort of sharp elbows that required Mr. Obama to get 12 stitches on his upper lip after a game with friends and family in November. But then, Mr. Wen is nearly two decades older than the U.S. president, and until Tuesday not many people knew that he could even dribble a basketball—let alone dribble it between his legs, as he does with a disarming showiness in the CCTV footage. Three years ago, a photo appeared in state media showing Mr. Wen in midair under the basket, taking a shot on a visit with China’s Olympic basketball team . But the extent of his skills wasn’t clear. A Xinhua report on Tuesday’s visit said Mr. Wen learned “how to dribble and control the ball” from one of the teachers at the school, but the premier looks like an old hand. The video shows him dribbling—he’s clearly left handed, at least at hoops—down the court and driving several times to the basket in a half-court game of three-on-three. “One, two, three…With every score, waves of warm applause erupted. Wen Jiabao scored six successive shots, sweat visible on his forehead,” says the CCTV voiceover. The report does show him missing one layup—but then he grabs a rebound and sinks it on a second try. The premier also notches up at least one steal. As he plays, Beijing Communist Party Secretary Liu Qi and State Councilor Liu Yandong—the only woman on China’s 25-member Politburo—are shown sitting at courtside, clapping. Images of Chinese leaders mixing it up with the common folk in casual settings are standard fare for China’s propaganda mill, intended partly to soften their image. Tuesday’s newscast also showed footage of President Hu Jintao visiting a school, hugging toddlers and crafting a flower out of red paper. Demonstrations of the leaders’ athletic prowess and vigor constitute a prominent subset of such coverage—especially in the run-up to Beijing’s hosting of the Summer Olympics in August 2008. Mr. Wen played baseball on a visit to Japan in early 2007 , then again with his visiting Japanese counterpart in December 2007 at the Diaoyutai State Guesthouse in Beijing. Mr. Hu was showcased the following May defeating Japanese ping pong star Ai Fukuhara in a game on a visit to Tokyo. Vice President Xi Jinping, Mr. Hu’s heir apparent, was shown two months later kicking a soccer ball during an inspection of the Olympics soccer facilities. Mr. Wen, a.k.a. “Grandpa Wen,” has cultivated a populist aura, and has boasted in the past about his love of exercise . His visit Tuesday was meant to highlight the need for physical activity among young people. In addition to hoops, he joined the students for a short run, practices some gymnastics moves, and autographed a basketball. “When it was finally time to leave, the children gathered around Premier Wen, hollering,” CCTV said. “He hated to have to go.” –Jason Dean
Look out Barack Obama, you’re not the only world leader who can double as commander in chief of the basketball court. On the eve of International Children’s Day, Chinese state television’s main evening news broadcast Tuesday carried extensive coverage of Premier Wen Jiabao’s visit to a Beijing elementary school, where the 68-year-old joined in a game of hoops with students. Clad in a white sleeveless basketball jersey, matching shorts, and black socks and sneakers—remarkably casual attire for a top Chinese leader to wear in public—Mr. Wen appeared impressively fit for a near-septuagenarian, not to mention surprisingly proficient with a basketball. The China Central Television footage makes it clear that Mr. Wen’s no Yao Ming. The premier isn’t much taller than the youngsters he played against (mostly sixth-graders), and they were using junior hoops that were clearly lower than the standard 10 feet for adult roundball. Nor does he actually appear to be a real match for President Obama, who has also tested his skills against students— albeit tall high schoolers –and whose on-court skills have inspired more than one video tribute . And Mr. Wen’s opponents were clearly playing soft defense—no sign of the sort of sharp elbows that required Mr. Obama to get 12 stitches on his upper lip after a game with friends and family in November. But then, Mr. Wen is nearly two decades older than the U.S. president, and until Tuesday not many people knew that he could even dribble a basketball—let alone dribble it between his legs, as he does with a disarming showiness in the CCTV footage. Three years ago, a photo appeared in state media showing Mr. Wen in midair under the basket, taking a shot on a visit with China’s Olympic basketball team . But the extent of his skills wasn’t clear. A Xinhua report on Tuesday’s visit said Mr. Wen learned “how to dribble and control the ball” from one of the teachers at the school, but the premier looks like an old hand. The video shows him dribbling—he’s clearly left handed, at least at hoops—down the court and driving several times to the basket in a half-court game of three-on-three. “One, two, three…With every score, waves of warm applause erupted. Wen Jiabao scored six successive shots, sweat visible on his forehead,” says the CCTV voiceover. The report does show him missing one layup—but then he grabs a rebound and sinks it on a second try. The premier also notches up at least one steal. As he plays, Beijing Communist Party Secretary Liu Qi and State Councilor Liu Yandong—the only woman on China’s 25-member Politburo—are shown sitting at courtside, clapping. Images of Chinese leaders mixing it up with the common folk in casual settings are standard fare for China’s propaganda mill, intended partly to soften their image. Tuesday’s newscast also showed footage of President Hu Jintao visiting a school, hugging toddlers and crafting a flower out of red paper. Demonstrations of the leaders’ athletic prowess and vigor constitute a prominent subset of such coverage—especially in the run-up to Beijing’s hosting of the Summer Olympics in August 2008. Mr. Wen played baseball on a visit to Japan in early 2007 , then again with his visiting Japanese counterpart in December 2007 at the Diaoyutai State Guesthouse in Beijing. Mr. Hu was showcased the following May defeating Japanese ping pong star Ai Fukuhara in a game on a visit to Tokyo. Vice President Xi Jinping, Mr. Hu’s heir apparent, was shown two months later kicking a soccer ball during an inspection of the Olympics soccer facilities. Mr. Wen, a.k.a. “Grandpa Wen,” has cultivated a populist aura, and has boasted in the past about his love of exercise . His visit Tuesday was meant to highlight the need for physical activity among young people. In addition to hoops, he joined the students for a short run, practices some gymnastics moves, and autographed a basketball. “When it was finally time to leave, the children gathered around Premier Wen, hollering,” CCTV said. “He hated to have to go.” –Jason Dean
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Chinese Premier Shows Off Basketball Skills
China
Outlook on Bilateral Trade and Investment between China and United Arab Emirates (UAE)
The UAE and China have a strong partnership, with the UAE being China’s top trade partner in the Arab world. Both countries collaborate on various sectors like logistics and technology, showcasing mutual commitment to economic growth and global cooperation. High-level trade and investments continue to drive their relationship.
The UAE and China share a robust partnership integral to both countries’ development and foreign policy goals, exemplifying a model of collaboration. Bilateral trade thrives, with the UAE as China’s top trade partner in the Arab world, while investments span key sectors like logistics and technology. This comprehensive strategic partnership continues to evolve, showcasing mutual commitment to economic growth and global cooperation.
The United Arab Emirates (UAE) holds a significant position in China’s trade and commercial connections within the Middle East, particularly in the Arab Gulf region. This partnership is integral to China’s broader strategic initiatives, including the Belt and Road Initiative (BRI), which the UAE actively supports.
Additionally, the UAE plays a crucial role in advancing China’s foreign policy objectives, such as enhancing South-South cooperation, particularly in technical collaboration among developing nations and the Global South in areas like resources and technology.
In this article, we delve into the dynamics of bilateral trade and investment between the UAE and China, exploring the key factors driving their economic relationship and the opportunities it presents for mutual growth and prosperity.
China and the UAE first established their diplomatic relations in 1984. While China has an embassy in Abu Dhabi and a consulate general in Dubai, the UAE has a consulate general in Hong Kong and an embassy in Beijing. China and the UAE have long been close partners, collaborating extensively on economic, political, and cultural fronts.
In 2018, Chinese President Xi Jinping went on a state visit to the UAE, making history as the first Chinese head of state to visit the country in the previous 29 years. The visit was instrumental in lifting bilateral relations to a ‘comprehensive strategic partnership’.
High-level trade has always been the foundation of bilateral ties. Bilateral commerce between China and the UAE reached new heights in 2021, surpassing US$75.6 billion. Additionally, as of 2022, about 6,000 Chinese businesses operate in the UAE, with a sizable Chinese population working primarily in the infrastructure and energy sectors. The UAE is also China’s second-largest economic partner in the Middle East, after Saudi Arabia.
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
2024 Tax Incentives for Manufacturing Companies in China
China offers various tax incentives to boost the manufacturing industry. The Ministry of Finance and State Tax Administration provide guidelines on eligibility and policies. VAT exemptions and refunds are available for companies producing specific goods or services, with a monthly refund option for deferred taxes.
China implements a wide range of preferential tax policies to encourage the development of the country’s manufacturing industry. We summarize some of the main manufacturing tax incentives in China and explain the basic eligibility requirements that companies must meet to enjoy them.
China’s Ministry of Finance (MOF) and State Tax Administration (STA) have released guidelines on the main preferential tax and fee policies available to the manufacturing industry in China. The guidelines consolidate the main preferential policies currently in force and explain the main eligibility requirements to enjoy them.
To further assist companies in identifying the preferential policies available to them, we have outlined some of the main policies currently available in the manufacturing industry, including links to further resources.
For instance, VAT is exempted for:
Companies providing the following products and services can enjoy immediate VAT refunds:
Companies in the manufacturing industry that meet the conditions for deferring tax refunds can enjoy a VAT credit refund policy. The policy allows companies to receive the accumulated deferred tax amount every month and the remaining deferred tax amount in a lump sum.
The policy is not exclusive to the manufacturing industry and is also available to companies in scientific research and technical services, utilities production and supply, software and IT services, and many more.
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
Exploring the Revamped China Certified Emission Reduction (CCER) Program: Potential Benefits for International Businesses
Companies in China must navigate compliance, trading, and reporting within the CCER framework, impacting operations and strategic objectives. The program focuses on afforestation, solar, wind power, and mangrove creation, offering opportunities for innovation and revenue streams while ensuring transparency and accuracy. The Ministry of Ecology and Environment oversees the program.
As companies navigate the complexities of compliance, trading, and reporting within the CCER framework, they must also contend with the broader implications for their operations, finances, and strategic objectives.
This article explores the multifaceted impact of the CCER program on companies operating in China, examining both the opportunities for innovation and growth, as well as the potential risks and compliance considerations.
Initially, the CCER will focus on four sectors: afforestation, solar thermal power, offshore wind power, and mangrove vegetation creation. Companies operating within these sectors can register their accredited carbon reduction credits in the CCER system for trading purposes. These sectors were chosen due to their reliance on carbon credit sales for profitability. For instance, offshore wind power generation, as more costly than onshore alternatives, stands to benefit from additional revenue streams facilitated by CCER transactions.
Currently, primary buyers are expected to be high-emission enterprises seeking to offset their excess emissions and companies aiming to demonstrate corporate social responsibility by contributing to environmental conservation. Eventually, the program aims to allow individuals to purchase credits to offset their carbon footprints. Unlike the mandatory national ETS, the revamped CCER scheme permits any enterprise to buy carbon credits, thereby expanding the market scope.
The Ministry of Ecology and Environment (MEE) oversees the CCER program, having assumed responsibility for climate change initiatives from the National Development and Reform Commission (NDRC) in 2018. Verification agencies and project operators are mandated to ensure transparency and accuracy in disclosing project details and carbon reduction practices.
On the second day after the launch on January 23, the first transaction in China’s voluntary carbon market saw the China National Offshore Oil Corporation (CNOOC), the country’s largest offshore oil and gas producer, purchase 250,000 tons of carbon credits to offset its emissions.
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.
- Outlook on Bilateral Trade and Investment between China and United Arab Emirates (UAE)
- 2024 Tax Incentives for Manufacturing Companies in China
- Exploring the Revamped China Certified Emission Reduction (CCER) Program: Potential Benefits for International Businesses
- 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
