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2026-08-20From "Formal Compliance" to "Substantive Compliance" – A Shift in Regulatory FocusAgainst a backdrop of geopolitical volatility and fiscal pressure, "substance over form" and "reasonable commercial purpose" have become core principles across tax, accounting and legal regulation. This article traces their historical
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2026-08-20Outbound Investment Series | State Council Decree No. 837 Takes Effect – A Compliance Guide for Technology Transfer in Overseas InvestmentsOn 1 July 2026, the State Council Decree No. 837 (hereinafter "Decree No. 837" or the "Regulations") on outbound investment officially took effect. Article 13 draws a clear red line: investors shall not export or use goods, technologie
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2026-08-20Outbound Investment Series | 1 August Take Effect! Thailand DBD Order No. 2/2569 Brings New Substantive Control Rules – Nominee Shareholding Loopholes for Chinese Investors Are ClosingOn 1 August 2026, Thailand's Department of Business Development (DBD) issued Order No. 2/2569, marking a fundamental shift in foreign investment regulation—from documentary compliance to substantive control and economic substance review. Previously, DBD
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2026-07-02New Policy Focus | An Analysis of the Action Plan for Consolidating, Stabilizing and Optimizing Foreign Investment UtilizationRecently, the Ministry of Commerce (MOFCOM), together with the National Development and Reform Commission (NDRC) and the Ministry of Finance, jointly issued the Action Plan for Consolidating, Stabilizing and Optimizing Foreign Investment Utilization(herei
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2026-06-11Breaking! Effective July 1 – In-depth Interpretation of the State Council's New Overseas Investment Regulations | Series III: After the New Regulations, Which Key Issues Remain Unresolved?The Regulations of the State Council on Outbound Investment(State Council Order No. 837, hereinafter "Order No. 837"), officially announced on June 1, 2026, represents a landmark piece of top-level legislation in the history of China's outbound
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2025-05-15China Stabilizes the Market and Expectations: Financial Policies Take Further Action
On May 7, 2025, the State Council Information Office held a press conference, where the heads of China's three major financial regulatory bodies introduced a package of financial policies aimed at supporting market stability and expectations. The newly in
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2025-04-24New Measures Unveiled to Further Open China’s Telecommunications Sector
April 21, 2025 – The State Council Information Office held a press conference, where officials from relevant ministries and commissions introduced the Work Plan for Accelerating the Comprehensive Pilot Program to Expand the Opening-Up of the Service Secto
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2025-04-10The Impact of Trump’s Reciprocal Tariff Policy on China’s Two-way Cross-border Investment
On April 2, 2025, U.S. President Donald Trump announced the imposition of “reciprocal tariffs” on almost all major trading partners, triggering a severe shock to global markets. This policy sets a 10% uniform import tariff benchmark and imposes higher tar
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2025-04-02Announcement on Matters Concerning the "Chinese Tax Resident Certificate"
With the accelerating pace of Chinese taxpayers "going global," investment destinations have expanded, and participation in overseas economic activities has deepened. Consequently, the need for the Chinese Tax Resident Certificate (hereinafter r
