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Ernst & Young Suggests HK Government Slashes Taxes [CN] [cn]
29.11.11, People's Daily
A report published by Ernst & Young shows that the revenue of selling land in Hong Kong exceeded the expectations. Therefore a fiscal surplus is expected for next year. The report suggests that Hong Kong government should cut taxes of the low-income groups.

Chinese Policeman Refused Asylum [CH] [en]
22.10.11, swissinfo.ch
The Federal Migration Office has turned down the asylum application of a Chinese policeman who denounced the alleged trade in organs from executed prisoners. The office recognised the man’s status as a refugee, but expressed doubts about his story. Nevertheless, his provisional permit means he can remain in Switzerland. The former Uighur policeman fled China in 2007 and after travelling to Dubai, Italy and Norway eventually ended up in Switzerland. He claimed to have seen between 1993 and 1997 the heart, kidneys and eyes removed from prisoners who were not clinically dead in Urumqi, the capital city of the Xinjiang province.

PwC: Mainland Financial Firms Eye M&A [CN] [en]
27.09.11, Oswald Chen, China Daily
Nearly 80% of mainland financial service firms are considering mergers and acquisitions (M&A) at home and in the Asian region over the next 12 months, according to a report released on Monday by "Big Four" accounting firm PricewaterhouseCoopers (PwC). In the report, the sixth annual "Asia Financial Services M&A Survey", PwC said sentiment was being propelled by the burgeoning demand for financial services in the region, growing pressure on operational and capital efficiency, and ongoing divestments by strategic investors outside Asia. According to the PwC data, mainland financial services M&A in 2010 amounted to $16.7 billion, which was the largest figure for any Asian market. The figure represented a 130% surge on the 2009 figure of $7.3 billion.

Bunge Sues COSCO [CN] [cn]
24.08.11, Chongqing News
The biggest Chinese ship owner, China Ocean Shipping (Group) Company (COSCO) has been taken to court by Bunge again. One COSCO worker told the journalist that one of its boats has been detained by Bunge for default in the lease. This is the third boat that has been detained by Bunge in the last two months.

Credit Suisse China Partner Plans $1 Bln Shanghai IPO-IFR [CN] [en]
26.07.11, Reuters
Founder Securities, the Chinese partner of Credit Suisse, has set a suggested price target to raise up to 6.42 billion yuan ($996 million) from its planned initial public offering in Shanghai, IFR reported on Tuesday. The company has set a guidance range for institutional investors during premarketing at 3.49-4.28 yuan, representing a high earnings multiple of 22 to 27 times, according to IFR, a Thomson Reuters publication.

China to Maintain IPO Trend Says E&Y Report [CN] [en]
16.07.11, Li Xiang, China Daily
Chinese enterprises will continue to dominate the market for global initial public offerings (IPO) in 2011, despite a slowdown in IPO activity and the economic uncertainties at home and abroad, said the accounting firm Ernst & Young LLP. "Although Chinese IPO activity has slowed down, with investors concerned about inflation in commodity and housing prices, the Chinese IPO pipeline is still very strong and China will continue to lead global IPO activity in 2011," said Paul Go, managing partner of industries and priority accounts at Ernst & Young.

Greenlight for Foreign Investors to Make Investment With Chinese Company's Equity [CN] [en]
28.06.11, PwC
In accordance with Article 27 of the prevailing Chinese Company Law, shareholders of a company are allowed to make capital contributions with cash or non-cash assets to make investments. Equity contribution to form a foreign-invested enterprise had been difficult in actual practice because of the lack of supporting regulations to govern the approval process. On 4 May 2011, the Chinese Ministry of Commerce released a statement on new measures for capital contribution to foreign-invested enterprises in the form of equity interests. This long-awaited breakthrough is welcomed by foreign investors.

Chinese Lured by Great Views, Low Taxes in Switzerland [CN] [en]
26.05.11, South China Morning Post
GENEVA: A growing number of Chinese buyers are being lured to the Swiss property market, not only due to the country's beautiful scenery, but also because of its good-quality education, strong currency appreciation, and low tax rates. "In the past two years we sold a lot of properties to Chinese buyers because of one important point — education," said Natalie Mik, head of luxury and international markets for real estate agency de Rham Sotheby's International Realty in Switzerland.

Trial Begins Over Fake Eye Medication in Shanghai [CN] [en]
19.05.11, China Daily
Eleven people went on trial Thursday accused of manufacturing and selling a fake eye medication that left 61 people suffering from adverse reactions in Shanghai. Luwan District People's Court said the suspects concocted a counterfeit version of Avastin with regular saline and then used fake packaging to deceive buyers and gain illegal profits. Avastin is produced by the Swiss pharmaceutical company Roche Group and is designed to inhibit angiogenesis.

Tianjin Watchmaker Sets Record Straight in Switzerland [CN] [en]
13.04.11, Zhang Zhao, China Daily
In just 48 hours, the Chinese watch company Tianjin Sea-Gull Corp prevailed in an intellectual property dispute last month in Basel, Switzerland, where it was taking part in an annual international watch and jewelry fair. Organizers of the 39th BaselWorld Watch and Jewelry Show received a complaint on March 29 from Swiss jewelry maker TF Est. 1968 that claimed Sea-Gull had copied its design for steel Tourbillon cuff buttons. "As more Chinese companies are involved in the global market, more complaints come out against them," said Liu Jixiang, director of the intellectual property right commission of Tianjin Bar Association.

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