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International Trade

Public  |  active 3 years, 10 months ago

Imports, exports and customs

 

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    International commercial dispute resolution procedures for Belt and Road litigants

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    As reported by the Supreme People’s Court, China is implementing international commercial dispute resolution procedures to provide legal services to litigants from countries involved in the Belt and Road Initiative (BRI). Belt and Road Initiative (BRI) The Belt and Road Initiative (BRI) (also known as the Silk Road Economic Belt and the 21st-century Maritime Silk...
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    Draft E-commerce Law gets third reading; heading for fourth

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    China’s draft E-commerce Law (电子商务法草案) was submitted to the National People’s Congress (NPC) Standing Committee for a third reading this week. E-commerce Law China boasts the world’s largest e-commerce market, with online retail sales growing 32.2% year on year in 2017 to reach RMB 7.18 trillion yuan (USD $1.12 trillion). Yet despite the explosive growth...
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    United States and China sign new 10-point trade deal

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    The United States (US) and The People’s Republic of China (PRC) have signed a new 10-point trade deal that includes new provisions for international trade (beef, poultry, gas) and financial services (banks, credit agencies, electronic payments). The 10 points of the trade deal are (emphasis added): 1. Following one more round of technical consultations between...
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    Draft regulation to require refunds for most products purchased online

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    As reported by the official China Daily news agency, a new draft rule published this week by the State Administration for Industry and Commerce (SAIC) would entitle domestic consumers to full refunds on unsatisfactory products purchased online, even if the packages have been unsealed. E-commerce market This latest consumer protection law would significantly improve consumer...
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    China orders foreign banks to set aside reserves for forex forward trading

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    A foreign bank must now hold reserves equal to 20% of its foreign exchange (forex) forward-trade position As reported by the Wall Street Journal, the China Foreign Exchange Trade System will now require all foreign banks that conduct foreign-exchange forward trading for clients to set aside reserves. This new requirement will make it more expensive...

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