Welcome to issue 18 [2017] of Weekly Alert covering technical development in taxation around the globe.

The Government will continue to closely monitor the property market movements and the ever-changing external conditions.

In theory, RMB is freely convertible for all current account items. No specific approval by the local administration of foreign exchange would be required.

The PRC's foreign exchange reserves experienced a continuous drop during the second half of 2016 and hit the psychological level of US$3 trillion for the first time since February 2011.

On 26 October 2011, the Chinese State Council officially announced the launching of a pilot Value Added Tax ("VAT") reform program ("Pilot Program") to be carried out in three phases.

On 13 March 2015, the PRC Ministry of Commerce ("MOFCOM") and National Development and Reform Committee ("NDRC") released the 6th revision of the Foreign Direct Investment Industries Guidance Catalogue...

Since China became a WTO member, the PRC General Administration of Customs has put a lot of efforts to align itself with the WTO's Customs Valuation requirements.