China Updates- Minimum wage

Minimum Wage

The minimum monthly wage in Shenzhen is being increased to RMB2,030 wef 1st March, and the minimum hourly wage to RMB18.5.

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China Updates- Anti-trust

Anti-trust

The National Development and Reform Commission (NDRC) imposed a fine of RMB 6.088 billion (USD 975 million) on Qualcomm for abusing its dominant position in the various wireless communication standard essential patents (SEPs) licensing and chip markets.

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Primasia will post the updates of Hong Kong and China from time to time. Follow us on our Website/ Blogger/ LinkedIn and stay tunned for our updates!

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Need more information?
Please contact:
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--------------------------
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Website: Primasia HK / Primasia China
LinkedIn: Primasia
--------------------------
Primasia Corporate Services Limited
Tel: +852 2882 2088
Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

China Updates- Inbound Investment

Inbound Investment

The Ministry of Commerce (MOFCOM) has issued a draft of a new Foreign Investment Law for public comment. The proposed changes to the current foreign investment regime are far-reaching, and – for example – would replace and consolidate the existing laws on foreign inbound investment, namely the Sino-foreign Equity Joint Venture Law, the Wholly Foreign-owned Enterprise Law and the Sino-foreign Contractual Joint Venture Law. As with recent tax reforms, this will result in more equal treatment between foreign and domestic companies.

Hong Kong Updates- Employees Compensation

Increases to reflect inflation in the statutory compensation levels under employees compensation legislation have been approved and will take effect for work accidents happening after 4th March, 2015.

The increases include (i) the ceiling of monthly earnings up from HK$23,580 to HK$26,070. This figure is the basis for calculating the maximum amounts of compensation for permanent total incapacity and for death; (ii) the minimum levels of compensation for death up from HK$340,040 to HK$375,950; (iii)the minimum levels of compensation for permanent total incapacity up from HK$386,110 to HK$426,880; (iv)the maximum amount of compensation for employees requiring attention by another person up from HK$462,890 to HK$511,770; and (v) the maximum amount of funeral expenses up from HK$70,000 to HK$76,220.

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Primasia will post the updates of Hong Kong and China from time to time. Follow us on our Website/ Blogger/ LinkedIn and stay tunned for our updates!

===================================================================

Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email 
--------------------------
Follow us on:
Website: Primasia HK / Primasia China
LinkedIn: Primasia
--------------------------
Primasia Corporate Services Limited
Tel: +852 2882 2088
Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong