China
Sinology and the rise of China today
Author: Wang Gungwu, NUS and ANU
The first Sinologists I met in the 1950s were Europeans working in the Orientalist tradition. They had inherited two centuries of scholarship on the languages and cultures of North Africa and Asia but were by this time primarily interested in China. There were very few scholars in the field and some of their work served the needs of European imperial powers. The best of them enriched our knowledge of the Eurasian continent.
During the 19th century, Western admiration for Chinese civilisation gave way to condescension and curiosity about how it became irrelevant so quickly. Most Chinese scholars rejected this Orientalist perspective, maintaining that their heritage was invaluable and that lessons from the past could help them deal with present challenges.
Sinology dominated Western studies of China until shortly after World War II, when a new communist China was seen as an enemy during the Cold War. The United States began providing new funding to encourage US social scientists to collaborate with sinologists, not least to find out how China’s past was relevant to its modernisation ambitions.
Where the European powers saw their modern achievements establish universal standards for civilisation, China’s political elites felt their country’s future still depended on key parts of their distinctive value system. That faith was tested when civil war and Japanese invasion came together to destroy the Nationalist regime. Efforts to develop a modern Chinese scholarship came to nothing. Instead, the past was rewritten to fit a Marxist-Leninist framework and the study of China entered a state of confusion.
Deng Xiaoping’s reforms after 1978 promised a fresh start. The resumption of academic exchanges abroad enabled PRC scholars to explore new methodologies. There was even recognition that the Chinese who had settled abroad could provide alternative perspectives on China and what being Chinese meant.
A more pluralist Sinology began to emerge in the 1980s. During this time scholars in the PRC were given more space to broaden their interests, and conferences in Hong Kong, Taiwan and the mainland on Hanxue–Sinology made it possible to talk about ‘International Sinology’.
Of particular interest was a 1991 conference at the National University of Singapore, when China scholars in a multicultural setting invited scholars from the PRC, Hong Kong and Taiwan to share their experiences with a new kind of Hanxue. The location was neither Western nor Chinese, and the presentations showcased many different ideas about Sinology. Some saw it as an inseparable partner of China studies, while others saw Guoxue, the mainland-Chinese equivalent, as a set of distinctive approaches parallel to the new paths of Sinology.
China is now studied in several different ways: as an ancient civilisation rising again after a spectacular fall, as a rising power that is challenging Western dominance and as an exceptional kind of modernising nation-state ambitious to regain the respect it once enjoyed. These perspectives reflect the pluralism that followed when China studies became increasingly globalised.
There are now at least three levels of cooperative effort that scholars of China can draw on: the best work of generations of Sinologists, modern Guoxue scholarship in China and the new Sinology that includes the work of social scientists.
The first turning point came when Guoxue scholars saw value in the work of sinologists, in particular the archaeological skills they introduced to China.
The second turning point came when Chinese scholars, whose Guoxue heritage was rooted in the jingshi tradition of serving the state, began to see that modern social science represented the Western equivalent of Jingshi knowledge that was directed towards current problems of material progress. This led to the realisation that strict training in modern academic disciplines was also essential for China’s future progress, notably in new subjects like economics, law and administration, sociology, geography and psychology.
When classical scholars within and outside China became familiar with the methodologies of the social sciences, they extended the depth and breadth of China scholarship. This also enabled the modern Chinese state to connect with its past and build on its continuities.
But there is another dimension of this plurality that calls for concern. China is now seen by the United States as a threat to its supremacy. In such a context, the knowledge gathered by pluralist Sinology could serve as a weapon for…
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.
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- Q1 2024 Brief on Transfer Pricing in Asia
- New Report from Dezan Shira & Associates: China Takes the Lead in Emerging Asia Manufacturing Index 2024
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