SAFE Modified Individuals' Settlement of Foreign Exchange   Nov. 26 2009

China's State Administration of Foreign Exchange (SAFE), stipulated, in the Circular on Further Modifying the Administration of Individuals' Settlement and Sale of Foreign Exchange (Circular) on November 19, 2009, restrictions on processing the individual settlement of foreign exchange, so as to prevent the abnormal funds from flowing into the territory of China via individuals.

Under the Circular, individuals must not evade, via such manners as split, the annual quota management of individual settlement and individual's purchase of foreign exchange in the territory of China. Main characters of individuals' split of settlement and purchase of foreign exchange shall include: five or more individuals purchase the exchange on the same day, every other day or continuously for many days and remit such foreign exchange to a same overseas individual or institution.

Besides, the Circular also stipulated that individuals' settlement and purchase of foreign exchange must not be processed if they are found with obvious characters of split and can be easily recognized as split.

 外管局完善个人结售汇业务   2009年11月26日

国家外汇管理局2009年11月19日发布《关于进一步完善个人结售汇业务管理的通知》（通知），进一步规范和明确了个人结汇业务办理要求，切实防范异常资金通过个人渠道流出入。

根据通知，个人不得以分拆等方式规避个人结汇和境内个人购汇年度总额管理。个人分拆结售汇行为的主要特征包括：5个以上不同个人同日、隔日或连续多日分别购汇后，将外汇汇给境外同一个人或机构。

同时，通知规定，对于个人分拆结售汇特征明显、银行能够确认为分拆结售汇行为的，应不予办理。

Tax & Acconting News
Circular of the Ministry of Finance, the General Administration of Customs and the State Administration of Taxation on Value-added Tax Policies on Imports of Equipments by the Foreign-governmental Loans and International Financial Organization Loans Nov. 16 2009

 财政部、海关总署、国家税务总局关于外国政府贷款和国际金融组织贷款项目进口设备增值税政策的通知 财关税[2009]63号   2009年11月16日

 Incomes of Non-profit Organizations from Donations to be Free from EIT   Nov. 20 2009
Non-profit organizations meeting the given conditions will not be required to pay the enterprise income tax (EIT) for their incomes from the donations of other units or individuals.

非营利组织捐赠收入应免征企业所得税   2009年11月20日
符合条件的非营利组织接受其他单位或者个人捐赠的收入应当为企业所得税免税收入

SAT Stipulated Cognition of Tax-exemption Qualifications of Non-profit Organizations Nov. 23 2009
China's State Administration of Taxation (SAT) stipulated, in a circular on November 11, 2009, issues concerning cognition of non-profit organizations' qualifications for tax exemption.

国税总局明确非营利组织免税资格认定   2009年11月23日
中国国家税务总局2009年11月11日发布通知，明确非营利组织免税资格认定管理有关问题。

MOF & CSRC Tightened Control over Subsequent Management of Securities Appraisers Nov. 25 2009
Securities appraisers must appoint the accounting firms which are of no affiliation with them and are of securities certificates to audit their annual financial accounting reports.

两部门加强证券评估机构后续管理   2009年11月25日
证券评估机构应当委托与本机构不存在关联关系且具有证券资格的会计师事务所审计年度财务会计报告。

Individuals Must Pay IIT on Subleasing Houses   Nov. 26 2009
Individuals must pay individual income tax (IIT) on incomes generated from subleasing the houses under the item of "Incomes from Leasing Properties".

Under the Circular on Issues Concerning the Individual Income Tax on Individuals' Incomes Generated from Subleasing (Circular), which China's State Administration of Taxation (SAT) released on November 18, 2009, individuals are allowed to delete the rent they pay for the subleased houses prior to their IIT payment. Such taxpayers must submit the lease contracts and legitimate vouchers of rent payment.

The Circular also adjusted order of pre-tax deletion of incomes generated from property lease.

个人转租房屋取得收入应征个税   2009年11月26日
个人将承租房屋转租取得的租金收入应按“财产租赁所得”项目计算缴纳个人所得税。

根据国家税务总局2009年11月18日下发的《关于个人转租房屋取得收入征收个人所得税问题的通知》（通知），转租房屋所支付的租金允许在个人所得税前扣除，但纳税人必须提交房屋租赁合同和支付租金的合法凭据。

通知同时调整了财产租赁所得个人所得税前扣除税费的扣除次序。

Incubator News
i–box
i-box provides incubator services for expat partners wishing to start or develop a one-person or small business in China. 

i-box是专门为希望在中国发展个人或小型企业的外籍人士提供孵化器形式的服务。 

For more information on the i-box, please contact Jette Renneberg at This e-mail address is being protected from spambots. You need JavaScript enabled to view it  or visit www.ncochina.com/services/incubator/i-box

 Wind Incubator
China's Largest Wind Producer Readies $2.3bn IPO   Nov. 23 2009
China’s Longyuan Power Group, Asia’s largest producer of wind-generated electricity, will raise as much as HK$17.5bn ($2.2bn) in its upcoming initial public offering, making it the third-largest renewables IPO of the past decade. 

中国最大的风力生产商准备首次公开招股23亿美元   2009年11月23日
亚洲最大的风电力生产商，中国龙源电力集团，将提高其在首次公开招股中的数量，高达港币$ 175亿（22亿美元），成为在过去10年上市公司中第三大可再生能源股。

Hu, Obama Sign Clean Energy Partnership Agreement   Nov. 18 2009
China and the US will pool resources to research and develop renewable energy under a seven-point accord signed in Beijing by Presidents Barack Obama and Hu Jintao. Electric vehicles, energy efficiency and carbon capture are part of the pact. 

胡锦涛与奥巴马签署清洁能源合作协议   2009年11月18日
美国总统奥巴马和胡锦涛主席在北京签署协议，表示中国和美国将集中资源研究和开发可再生能源，其中电动车辆，能源使用效率和低碳能源都属于协议的一部分。

For more information on the wind incubator, please contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it or visit http://www.ncochina.com/incubator/wind-turbine-sub-supplier

Events
Seventh Asian Wind Energy Conference will be Held in Beijing Next Year   Nov. 17 2009
Nov. 11 2009, International Wind Energy Exhibition Promotion Conference of Seventh Asian Wind Energy Conference held in Beijing. World Wind Energy Association announced they will fully support the Asian Wind Energy Conference, which will be held from 23 to 25 June 2010 at the China National Conference Center. 

第七届亚洲风能大会明年在京举行   2009年11月17日
11月10日，第七届亚洲风能大会暨国际风能设备展览会推介会在北京召开。世界风能协会宣布全面支持亚洲风能大会。大会将于2010年6月23至25日在中国国家会议中心举行。

News from our partners 
AFP Group www.afpglobal.com 
Inspired www.inspiredbeijing.com

WEEKLY BRIEFS is not NCO's formal advices. It offers updates on the latest incorporation news, taxation and accounting regulations and relevant information only.

If you have any comments or queries regarding either the information supplied or the services of NCO, please do not hesitate to contact us:

Beijing:     Tel: 0086 10 8447 8118     E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it  

Shanghai: Tel: 0086 21 5169 9589     E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it