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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.

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.

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...