Asia Briefing News - Latest Business and Regulatory Updates

China Briefing

China’s New Personal Information Protection Law: Impact on Employment Management

We discuss employer’s responsibilities regarding processing employees’ personal information during the employment relationship and offer practical advice.

Personal Information Protection Law in China: Technical Considerations for Companies

We discuss the law's core concepts and stipulations and provide suggestions for businesses to build compliant IT systems.

GBA IIT Subsidy in Shenzhen: Updated Application Rules and Deadline

Shenzhen opens its application channel from August 16, 2021, to September 30, 2021, for the GBA IIT subsidy for overseas talents. Successful applicants can lower their income tax rate to 15 percent.

Zhongshan City Spotlight: Opportunities for Investment, Trade, and Industry

Zhongshan City in China's southern Greater Bay Area is set to become a hyper-connected investment base from which to tap into the region's vibrant markets.

India Briefing

Investing in India’s Biotechnology Industry: Biopharmaceuticals and Beyond

India’s biotechnology industry is steadily diversifying its capacity from biopharma and clinical research to bio-agro, bio-services, bioIT, and industry applications.

Major Investment Destinations in India

We list the top investment destinations in India based on specific indicators of state performance, FDI, ease of doing business, and industrial outlook.

India’s Fintech Market: Growth Outlook and Investment Opportunities

India has the third largest fintech ecosystem globally and 67 percent of more than 2,100 fintech entities in operation have been set up in the last five years.

India’s Account Aggregator Network Makes Financial Data More Accessible, Allows Individual Consent

The account aggregator network enables efficient accessibility to financial data and empowers individuals with control over their personal financial data.

Vietnam Briefing

Vietnam Issues Resolution Supporting Businesses Affected by COVID-19: Resolution 105

To aid with business recovery and economic growth, Vietnam issued Resolution 105 on helping businesses affected by the pandemic including easing restrictions for hiring foreign workers.

Vietnam Business Operations and the Coronavirus: Updates

Businesses in Vietnam need to prepare for an escalation of the coronavirus outbreak; measures taken by authorities may get enforced with little or no notice.

Tax Incentives for Businesses Involved in Supporting Industries: Decree 57

Vietnam recently issued Decree 57 for businesses involved in supporting industry projects to qualify for corporate income tax incentives.

Vietnam Extends Deadline for Tax, Land Payments: Decree 52

Vietnam issued Decree 52 deferring tax payments and land rentals for additional businesses affected by the pandemic. The Decree came into effect on April 19.

ASEAN Briefing

Electronic Signatures in Singapore: What Businesses Need to Know

Individuals and companies are increasingly using electronic signatures, or e-signatures, to sign contracts and complete other transactions in Singapore.

Digital Banking in Malaysia: New Opportunities for Fintech

Malaysia’s central bank is set to issue its first digital banking licenses in early 2022, a move that could position the country as one of Southeast Asia’s leaders in fintech.

Stamp Duty in Indonesia: New Law in Effect

On January 1, 2021, Indonesia’s Law No. 10 of 2020 on Stamp Duty (the “Law”) came into effect, replacing the previous stamp duty law from 1985.

High-Tech in Thailand: Incentives for R&D, Semiconductors, and Smart Packaging

Thailand has released new incentives for investments in R&D, semiconductor manufacturing, smart packaging, and other digital technologies.

By Chris Devonshire-Ellis The EU has launched its ‘alternative’ to China’s Belt and Road for the EU, with EU Commision President Ursula von der Leyen stating “We want to create links and not dependencies” while clarifying this by stating “It does not make sense for Europe to build roads between a Chinese owned copper mine[.....]

Biden And Johnson Say The West's Approach To China & Russia Must Be Based On Common Values. But What Does This Actually Mean?

By Chris Devonshire-Ellis The US President Joe Biden and British Prime Minister Boris Johnson have been meeting at the White House and discussing, amongst bilateral trade topics, items of international interest. Top of that list has been discussions on developing an approach to China and Russia based on what the two described as ”Common Values”[.....]

China’s Belt & Road And Beyond – September 20 2021

Compiled By Chris Devonshire-Ellis Analysis & Opinion What Attracts Companies In Expanding Business In BRI Countries? (CGTN) BRI Countries Exports To China Surge As Global Producer Prices Boom (Silk Road Briefing) Regional New EU-China Comprehensive Trade Agreement Terms (China Briefing) EU Introduces Global Gateway Program To Counter China’s Belt And Road Initiative (Arirang) EU Launches[.....]

BRI Countries’ Exports To China Surge As Global Producer Prices Boom

By Bob Savic, Senior Consultant with Dezan Shira & Associates The blow out in global commodity and intermediate goods prices, since the beginning of 2021, has seen producer price inflation (PPI) approach crisis levels across the world’s economies. In some countries, PPI growth has even matched that of the 1970s’ first oil shock. In response,[.....]

Russia Briefing

Russian 2021 GDP Growth Expected At 4.2%

The Russian government expects the country’s economy to grow by 4.2% this year, Prime Minister Mikhail Mishustin announced at a meeting on Tuesday.

Russia To Expand Overseas Trade & Economic Development

Russia’s Economic Development Ministry will have representatives in 52 countries from October 1, 2021. The decree to that effect signed by President Vladimir Putin was published on the official portal of legal information on Tuesday.

Thai Prime Minister Wants Eurasian Economic Union Free Trade Agreement Concluded

Thailand hopes to conclude a free trade zone agreement with the Eurasian Economic Union (EAEU), the country’s Prime Minister Prayut Chan-o-cha said during his speech at the recent Far Eastern Economic Forum at the beginning of September.

Russia To Expand Trade & Services With ASEAN

ASEAN has been hosting virtual ministerial meetings with its important global trade partners, including with Russia. During the ASEAN-Russia sessions, ministers adopted the revised Asean-Russia Trade and Investment Cooperation Roadmap and the Asean-Russia Trade and Investment Cooperation Work Program for 2021-25. These focus on trade and industry; micro-small, small and medium-sized enterprises; sci-tech, innovation and intellectual[.....]

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