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News from China
China reiterates foreign enterprises' respect for its sovereignty, territorial integrity
7th May 2018

 Chinese Foreign Ministry on Sunday reiterated that foreign-funded enterprises should respect China's sovereignty and territorial integrity.

This came after a US statement released on Saturday, which objected to China's requirement that foreign companies should stop listing Hong Kong, Macau and Taiwan as "countries" on their websites and promotional materials.
Spokesperson Geng Shuang noted that no matter what the US side says, it will not change the fact that there is only one China and that Hong Kong, Macau and Taiwan are inalienable parts of China.
China will stick to the One-China principle when dealing its external relations, Geng said, urging foreign enterprises operating business in China to respect China's sovereignty and territorial integrity, abide by Chinese law, and respect the Chinese peoples' feelings.
Source: Shanghai Daily, May 7, 2018
Shanghai to promote new retail formats to cater to consumer demand and revitalize time-honored bran
4th May 2018

 Shanghai will encourage new retail formats to cater to consumer demand while the city aims to revitalize time-honored brands as it bids to build itself into a world-class shopping hub.

The Shanghai Commerce Commission's three-year action plan envisages the city becoming a testing field for new business and retail formats such as those that integrate digital technologies and cashier-less vendors.
The commission will also support the development of incubation and technology application platforms, as well as launching initiatives to foster commercial zones in various downtown landmark areas and shopping streets featuring traditional Shanghai styles.
The Exposition on China Indigenous Brand to be held between May 10 and 12 will feature a number of time-honored local brands. A total of 500 local brands will take up around 25,000 square meters of exhibition space.
Shanghai Hero Group's gold fountain pens and Shanghai Yimin No.1 Food Factory's latest ice cream that is set to launch this summer will be among the merchandise on display during the exposition.
The revival of time-honored brands and measures to support innovation are also part of the action plan to turn the city into a world leader in shopping.
Shi Xiaolong, executive director at the economic operation department at Shanghai's Bailian Group Co, said that it has been actively upgrading retailers information technology system to help them better manage inventory.
"Consumers nowadays care more about the shopping experience and we're working to reshuffle operation strategy to reflect changing consumer demands and stay closer to the community neighborhoods," he said.
Its hypermarkets will be restructured to feature more fresh food and less daily groceries and the floor space will be reduced to about 6,000 square meters.
The group will also ensure that on-the-spot food and prepared meals will also be available at supermarkets which are close to neighborhoods to suit the demand of office workers who have little time to cook meals.
Several Lianhua supermarkets in downtown area have completed construction and are waiting for permission from the food safety watchdog to start operation.
Some of the supermarkets in Shanghai are also equipped with interactive electronic screens to allow orders to be placed online.
It's also seeking to embrace the latest technology in facial recognition, RFID sensor, and electronic screens.
The facial recognition technology, which will be unveiled later this year at selected stores in Shanghai, will provide data on when shoppers visit the shopping centers and how long they spend in each sector to help the retailer optimize the interior layout of the stores.
A new pavilion at the Shanghai No.1 Shopping Center on the Nanjing Road E. Pedestrian Street will also be unveiled in October.
By the end of 2017, Bailian has 5,000 physical outlets and its online shopping platform has accumulated two million active members. 
Source: Shanghai Daily, May 4, 2018
China makes greater efforts to better business environment
3rd May 2018

 China will further improve its business environment by halving the time required to open a business and start construction projects, the State Council decided at an executive meeting chaired by Premier Li Keqiang yesterday.

According to a decision at the meeting, the amount of time required to start a business in municipalities, sub-provincial cities and provincial capitals will be reduced from an average of over 20 days to 8.5 workdays by the end of the year. 
This measure will also be introduced in five leading cities — Dalian, Qingdao, Ningbo, Xiamen and Shenzhen — with other areas also required to see positive progress, to be followed by national implementation in the first half of next year.
Measures to halve the time required for government approval of construction projects from the current average level of more than 200 workdays to 120 workdays will be piloted this year in 15 cities, including Beijing, Shanghai and Tianjin, and in Zhejiang Province, whereby all government review items and approval processes concerning home building and urban infrastructure will be simplified, optimized and standardized.
This pilot program will be rolled out nationwide in the first half of next year.
Li said a good business environment is part and parcel of enhancing competitiveness and productivity.
“In spurring economic growth, our focus needs to shift from investing in projects to improving the business environment. The key is to press ahead with the reform of government functions,” Li said.
An estimate by the World Bank moved China up 65 places from 2013 to 2017 in the ranking of ease of starting a business, and the amount of time required was shortened from 33 days to 22.9 days.
According to a decision, the procedures that a new firm needs to go through to become initially operational will be further streamlined. The whole business registration process will be conducted online. Government approval of the names of businesses prior to registration will no longer be needed unless specifically required.
The record-filing procedure of official seals will be included in the reform to integrate different certification requirements on business registration. Applicants may also choose carving service providers on their own.
No separate tax registration will be required and no separate social insurance registration certificate issued for firms that have obtained business licenses with unified social credit codes. The amount of time needed for invoice application and social insurance registration will be cut.
“An enabling business environment that unlocks market vitality is crucial for achieving sustained, high-quality development in China. The biggest potential for our development lies in the vast domestic market and the creativity of all market entities,” the premier said. 
“Reducing the government-imposed transaction cost will be the priority of the reform of government functions going forward, and there is still a great deal that can be done in this respect. The government must continue to make determined efforts to cut red tape, enhance compliance oversight and provide better services,” he said. 
To cut the reviewing time for construction projects, the following measures were decided at the meeting: 
First, the number of items subject to government approval will be further simplified. The record-filing requirement for construction contracts and building efficiency design review will be eliminated. The review and approval of a project will no longer be conditional on the environmental impact and energy efficiency which will instead be subject to general assessment by the government.
Second, category-specific management will be introduced. The approval procedures for privately invested small and medium-sized construction projects will be simplified. For privately invested home building projects, the project proprietors may decide ways of awarding contracts on their own.
Third, procedures will be streamlined. An inter-agency approach with a clear time-frame will be adopted for simultaneous site inspection, mapping and surveying
Source: Shanghai Daily, May 3, 2018
China's industrial profits up 11.6% in Q1
27th April 2018

 Profits of China's major industrial firms maintained a steady growth, but at a slower pace of 11.6 percent in the first quarter of 2018, data showed on Friday.

The growth compares with a 16.1-percent increase registered for January-February.
In March alone, combined profits at industrial companies each with annual revenue of more than 20 million yuan (US$3.2 million) amounted to 589.75 billion yuan, up 3.1 percent from one year earlier, according to the National Bureau of Statistics.
NBS statistician He Ping attributed the slower profit growth in March to lagging effect of the Spring Festival holiday and slower growth in industrial product prices.
Among the 41 industries surveyed, 25 posted year-on-year profit growth during the first quarter.
Combined profits of the mining industry rose 36.1 percent during the period, manufacturing expanded 8.2 percent, while those of power generation, heating, fuel gas and water supply companies rose 30.4 percent.
Source: Xinhua, April 27, 2018

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