WFOE Registrations Drop in January
Foreign companies have invested USD2.11 trillion in China since 1978, according to new government statistics. The State Administration for Industry and Commerce said that 286,200 foreign-owned companies have invested in China during the last 29 years. While the number of investments has steadily risen, a surprisingly steep downturn was recorded in January this year, when the number of newly registered foreign companies dropped by 13 per cent year-on-year. Some analysts believe this could be related to the increased tax burden for foreign companies, who now have to pay 25 per cent instead of the previous 15 per cent on their income. Others suggest this is a natural slowdown after several years of sustained FDI growth.
Shanghai Film Group Plans IPO
Shanghai Film Group has become China's second state-owned film company
to announce a planned IPO, Screendaily.com reports. China Film Group
Corp. has already announced plans to go public and SFG expects to raise
around RMB1 bn. SFG is the owner of Shanghai film studios, TV channel
Eastern Movie Channel and United Cinema chain.
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