China
Tibetans in India march in solidarity with those arrested in dam protest in China
Tibetans and Buddhist leaders in northern India on Wednesday participated in a march to show their solidarity with Tibetans in southwestern China’s Sichuan province arrested for peacefully protesting the planned construction of a dam.
Similar solidarity rallies were held in London and other cities the same day.
The large Buddhist community in Ladakh – in Jammu and Kashmir – expressed concerns that the dam project will submerge several significant monasteries with ancient murals that date back to the 13th century.
The Regional Tibetan Youth Congress, which organized the march and rally, said Buddhists there were concerned about the humanitarian situation and the violation of cultural and religious rights stemming from the expected impact of the dam on several monasteries and villages near the Drichu River.
On Feb. 23, police arrested more than 1,000 Tibetans, including monks and residents, of Dege county in Sichuan’s Kardze Autonomous Tibetan Prefecture, who had been protesting the construction of the Gangtuo Dam, meant to generate electricity.
If built, the power station could submerge monasteries in Dege’s Wangbuding township and force residents of at least two villages near the Drichu River to relocate, sources told RFA.
Rigzin Dorjey, president of the youth wing of the Ladakh Buddhist Association Leh, said there is an urgent need to address the ongoing human rights abuses and environmental destruction perpetrated by China’s communist government.
He underscored the interconnectedness of global Buddhist communities and the shared responsibility to stand in solidarity with Tibetans in their struggle for justice, freedom and dignity.
‘Collective commitment’
Lobsang Tsering, vice president of the Regional Tibetan Youth Congress of Ladakh, said the rally serves as “an expression of solidarity and support for Tibetans facing challenges and oppression in Dege county.”
“It symbolizes a collective commitment to standing up against oppression, promoting human rights and preserving Tibetan culture and identity in the face of adversity,” Tsering said.
Tenzin Peldon, who participated in the march in Ladakh said while Tibetans everywhere usually gather to raise their voices against China on politically significant dates such as March 10, known as Tibetan Uprising Day – which commemorates the thousands of lives lost in the 1959 uprising against China’s invasion and occupation of their homeland – it is crucial that they come together during dire situations like the one being faced by Tibetans in Dege to collectively speak up against China’s oppression.
“I urge all Tibetans in exile not to give up hope and to continue to raise awareness on online platforms about the plight of Tibetans in Dege county,” she said.
Other protests were held in Bir village and Clement town in India, and in London, where Tibetans demonstrated outside the Chinese Embassy to show their support for the Dege county protesters, demand the release of the detainees, and call for an immediate halt to the dam construction.
“Risking arrest and torture, Tibetan residents of Kham Derge [Dege county] have shared images and videos of the protest with the outside world,” the Tibetan Community UK said in a statement. “They want the international community in the free world to know about their plight and to raise their voice.”
Authorities released about 40 of the arrested monks on Feb. 26 and 27, RFA reported on Tuesday.
Chinese authorities released about 20 monks each on Monday and Tuesday, said the sources who spoke on condition of anonymity for safety reasons.
Also on Wednesday, Human Rights Watch called on Chinese authorities to immediately release the detained Tibetan monks.
“The Chinese authorities have long been hostile to public protests, but their response is especially brutal when the protests are by Tibetans and other ethnic groups,” said Maya Wang, the group’s acting China director, in a statement.
“Other governments should press Beijing to free these protesters, who have been wrongfully detained for exercising their basic rights,” she said.
Translated by Tenzin Dickyi and Tenzin Pema for RFA Tibetan. Additional reporting by Pelbar for RFA Tibetan. Edited by Roseanne Gerin and Malcolm Foster.
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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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