Food Package Data

China's Ministry of Health stipulates that the amount of trans fat and other dietary information should be marked on the labels of packaged food in the country's first national nutritional standard for food nutrition labeling, effective January 1, 2013.

The new regulation means food package labels will have to detail information on nutrition, including levels of energy, protein, fat, carbohydrate and sodium.

If any hydrogenated or partially hydrogenated fat is used to produce the food, the level of trans fat will have to be highlighted on the nutrition information label.   

Food products without proper labeling will be banned from sale after the new regulation takes effect. The regulation will help standardize nutrition facts and protect the consumers' right to know, said Yang Yuexin, a senor nutritionist with the Chinese Center for Disease Control and Prevention.

Tax Threshold Raised

The thresholds for value-added tax and business tax levied on small enterprises were raised from October 25, 2011. China increased the value-added tax threshold for small enterprises to between 5,000 yuan ($790) and 20,000 yuan ($3,160), in terms of monthly sales revenues, from the previous threshold of 2,000 yuan ($316) to 5,000 yuan ($790), according to a statement posted on the ministry's website.

At the same time, the threshold for taxing business tax on small enterprises was also raised to 5,000 yuan ($790) to 20,000 yuan ($3,160) from its previous 1,000 yuan ($158) to 5,000 yuan ($790).

The changes were said to be follow-up actions of a decision announced earlier in October by the State Council, or China's cabinet, to strengthen financial support for the country's small enterprises that are strapped for cash.

FDI With RMB Settlement

The People's Bank of China (PBOC), the central bank, issued regulations on foreign direct investment settled in the Chinese currency of RMB on October 14, 2011, allowing foreign investors to settle deals in RMB.

The regulation clarified that foreign institutional and individual investors can apply for RMB settlement when doing foreign direct investment in China, provided their investments are in accordance with Chinese current laws and regulations.

The PBOC would work with other authorities to establish mechanisms for sharing information and management to closely monitor the investments and strengthen the banks' capability of preventing risks.

The central bank said the move would further promote cross-border use of Chinese currency and facilitate the development of the RMB market in Hong Kong, which would in turn foster trade and investment.

Regulations on Bank Gift Cards

The People's Bank of China on October 28, 2011 issued guidelines to regulate the country's booming bank gift card market, which has long been seen as a tool for tax evasion, bribery and money laundering.

Individuals or companies that buy the prepaid cards valued at more than 10,000 yuan ($1,580) at one time are required to register under their real names by the card issuers, according to the statement posted on the central bank's website.

The bank also noted that the face value of the cards with owner's name should not exceed 5,000 yuan ($790), while that of those without owner's name should be less than 1,000 yuan ($158).

Cards bearing owner's name have no expiry date, while those not bearing the name of purchasers are valid for at least three years, the statement said.

Protecting Personal Info

China seeks to increase punishment for those found guilty of leaking people's personal information, according to a draft amendment to be submitted to China's top legislature for approval.

Civil penalties like apologies, financial compensation, and criminal penalties, including criminal prosecution, detention and fines, will be imposed on offenders.

Individuals, government officials and the working staff of public institutions like banks, hospitals and telecommunication offices will be fined if they are found to leak clients' personal information, the amendment said.

According to a previous version, the offenders will be only fined when they leak personal information for illegal gains.