CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Shanghai FTZ Trials Trade Assistance Scheme

Shanghai FTZ Trials Trade Assistance Scheme

by Mary Swire, Tax-News.com, Hong Kong

12 July 2017


The Shanghai Pilot Free Trade Zone has announced it will trial an assistance program from July 15, 2017, to help the Zone's enterprises mitigate the harmful effects of trade.

The assistance program is modeled on other trade adjustment assistance programs, the first of which was introduced in 1962 to reduce the damaging impact of imports felt by certain sectors of the US economy. Similar programs were then adopted by the EU, Japan, South Korea, and other economies.

Zone enterprises can apply for assistance if they suffer labor losses, shrinking sales, and falling share prices due to trade frictions. Government assistance is available if a company reports a 20 percent loss of employees in one year; or a 10 percent loss for two consecutive years; or a 30 percent drop in outputs or sales.

The assistance comes in the form of financial and technological support for enterprises in marketing, product R&D and certification, technological upgrade, business consulting, employee training, export credit insurance, and supply chain management for a period of two years.

The Shanghai Pilot Free Trade Zone says trade friction is a common problem facing Chinese exporters. By the end of 2016, Shanghai companies were involved in more than 740 trade dispute cases with 445 cases ruled against them, according to official statistics.

The Shanghai Pilot Free Trade Zone was founded in 2013 and offers a number of tax preferences. It comprises a bonded area, high-tech park, financial area, and an export processing zone.

TAGS: tax | business | training | insurance | employees | anti-dumping | China | trade disputes | Korea, South | trade | Japan | free trade zone

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 

Log into Tax-News+
Not registered yet? Find out about our daily news alert service »

 Email: 
 Password: 

Login »

Forgotten your password?







Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »