Code of Corporate Governance for Listed Companies in China
Issued by:
China Securities Regulatory Commission
State Economic and Trade Commission
January 7, 2001
(Zhengjianfa No.1 of 2002)
Code of Corporate Governance for Listed Companies
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What are the provisions for working hours and rest days in China?
In Mainland China, the statutory working time is 8 hours a day, 40 hours a week, 5 working days a week, and 2 rest days a week. Regarding the statutory leave, the PRC Labor law provides that the employee shall have 1 day off on the new year’s day, 3 days off on the Chinese new year holidays, 1 day off on the international labor day, 2 days off on the national day. The Company should make arrangement for the employees to take leave on the statutory holidays and other rest days as prescribed under the law.
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1. Capital reserve funds are set aside on the basis of 10% of the after-tax profits. When it accumulates to the level equal to 50% of the registered capital, the company can stop setting aside the capital reserve funds. When the company has incurred a loss, the profit for the year should first be used to make up for the losses incurred during previous years.
2. The PRC law requires the directors to transfer 5% of the after-tax profit to the staff provident funds, which are wholly set aside for the welfare of the company staff, such as building staff quarters, nurseries, and the barber’s shops.
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The US dollar rebounded strongly after plunging to a record low of 1.6017 on April 22 against the euro on growing expectations that the Fed might pause after cutting interest rates this month while other central banks are at the start of their easing cycles.
Provision of Service
1、Legal rules
2、Wholesale and retail Distribution Sectors
3、Other Sectors
1、Legal Framework for Dong Trading Business in PRC
2、Major Developments in PRC Law
3、Entry Modes for Doing Trading Business
4、Procedure to set up a trading business in PRC
5、Goods subject to special regulations
6、Commodity Trading rights in China
7、Legal Framework for Dong Trading Business in PRC
Setting up Foreign Investment Enterprise( Manufacturing operations )
1. Legal authority for foreign investment enterprises
2. Stages of setting up a foreign investment enterprise
3. Flow chart for setting up a foreign investment enterprise
4. Information required to set up a foreign investment enterprise
5. Additional vetting and approval requiremen.
LEGAL AUTHORITY FOR FOREIGN INVESTMENT ENTERPRISES
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Up to 2003, China has signed Agreement on Avoidance of Double Taxation (Tax Treaty) with 81 countries and regions. Please refer to the Income Tax Menu under the “Taxation in the PRC” for the details of PRC treaty countries and regions.
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Legal Authority :
Legal documents for China’s accession to WTO
The PRC Foreign Trade Law
Guide of Industry Category for Foreign Investment
the International Bidding Project (489)statement format for the International Bidding Project
一、中华人民共和国从世界银行申请获得贷款，用于支付＿＿＿＿＿项目的费用。<}100{>1. The People’s Republic of China has-applied for a loan and credit from the World Bank towards the cost of ________________ Project.部分贷款将用于支付工程建筑、＿＿＿＿等各种合同。<}100{>It is intended that part of the proceeds of this loan and credit will be applied to eligible payment under various contracts for ____________ , __________, __________. 所有依世界银行指导原则具有资格的国家，都可参加招标。<}100{>Tendering is open to all tenderers from eligible source countries as defined under the “Guidelines for procurement” of the World Bank.
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