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[Seminar] L. Riccardi, S. Chao - SHANGHAI FREE TRADE ZONE, financial and tax development - China-Italy Chamber 30.7.2014

The SPWG with the Italian Chamber of Commerce in China invites you to our next meeting on July 30h at 18:00 in Shanghai.
Our guests will present the New Free Trade Zone of Shanghai and future fiscal and financial development in China.
The China (Shanghai) Pilot Free Trade Zone ("China (Shanghai) Pilot FTZ") is officially launched on 29 September 2013.
The China (Shanghai) Pilot FTZ pioneers an unprecedented degree of openness in relation to foreign investment and international trade in both goods and services, with the objective of promoting and leading the development of an open Chinese economy.


Guests will introduce the FTZ and future development in tax and finance in China.

This event is open to China-Italy members and free of charge.
Please confirm your attendance by email in advance.


Speaker and coordinator:

Lorenzo Riccardi:
SPWG Chair


Stefano Chaoi:
Investment and research manager at AZ investment management



Info:

Lorenzo Riccardi
M +86.138.187.36.209
Email: Questo indirizzo email è protetto dagli spambots. È necessario abilitare JavaScript per vederlo.



Agenda of the meeting:

18:00 – 18:10 Welcome
18:10 – 18:30 Presentation and tax trends (L. Riccardi)
18.30 – 19.00 Financial implications (S. Chao)
19.00 – 19.30 Q&A


Address: 上海市黄浦区中山南路28号久事大厦附楼(近东门路)
4th Floor, Fesco-Adecco Building, No. 28 South ZhongShan Road, Shanghai 200010, P.R.C
 



L. Riccardi, Cina: il mercato dell’ e-commerce - Fisco e Tasse, 4.7.2014

Nel 2000 in una Cina con poco più di 2 milioni lo sviluppo dell’ e-commerce era cosa pressappoco sconosciuta. A fine 2013 la situazione è drasticamente cambiata, sono infatti 600 milioni i cinesi che hanno accesso ad internet che costituiscono più del 40% della popolazione e tale cifra è destinata a crescere velocemente nel giro di pochi anni.

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L.Riccardi - Cina: dal 2014 è la prima economia al mondo - Corriere Asia, 5.5.2014

Un recente studio dell’International Comparison Program (ICP) della Banca Mondiale, che ha preso come termine di paragone, nel confrontare le diverse economie del pianeta, la parità dei poteri di acquisto (PPP), ovvero il costo della vita reale, ha fatto emergere che con gli Stati Uniti già dal 2014 perderanno il loro status di prima economia al mondo, cedendo il posto alla Cina.

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CHINA ACCOUNTING STANDARDS (NEW BOOK)

China Accounting Standards, Springers 2016 - by Lorenzo Riccardi

Introduction and Effects of New Chinese Accounting Standards for Business Enterprises

This book provides an exhaustive overview of China’s accounting standards and makes a clear comparison between Chinese and international accounting systems. It offers an essential guide to dealing with new accounting standards for business enterprises in China. The guide provides valuable support to accountants and professionals when comparing the new standards adopted in China with the corresponding principles under IAS/IFRS and appraising potential outcomes. The comparative approach together with comments and easy-to-use numerical examples allow readers to quickly grasp these accounting systems.

The process of increasing economic openness and liberalization has been particularly prevalent in the past decade. Recently, this process has been making China increasingly integrated into the world economy. Perspectives are changing and a growing extent of investors are demanding financial statements; this demonstrates a higher level of transparency, objectivity and accuracy, particularly in mainland China. Keeping up to date with international accounting standards is crucial in order to meet increasingly demanding global requirements. In fact, the process of harmonization and integration of reporting standards can bring a twofold advantage. First, it provides transparency and promotes confidence among foreign investors, the major aim of latest Chinese economic policies. Second, an internationally integrated system makes it easier for companies to raise capital and it reduces the risk of financial crisis.

At first glance, the major changes introduced by new principles embrace a set of basic standards which are now more in line with IFRSs. First, in accordance with international standards, new ASBEs reintroduce the generally agreed definition of assets and liabilities. In all cases, accounting elements shall be recognized only when their definition is made and the established recognition conditions are satisfied. Some other main features have been introduced: first the definition of “gains” and “losses” and second the method of historical cost as general requirement when measuring accounting elements. Deviations from the latter provision are replacement cost, net realizable value and fair value which can be adopted in the case of reliable determination.

Although new principles have affected firms to a different extent, analysts argue Chinese companies under new ASBEs to be benefited mostly in terms of comparability. This point could lead in turn to an increased level of volatility of financial results due to the greater use of fair value principle. Both differences in adoptions of standards and increased volatility in end-year results should be explained in financial statement and disclosure to stakeholders.

Hardcover: 337 pages

Publisher: Springer; 1st ed. 2016 edition (November 9, 2015)

Language: English

ISBN-10: 9811000042

ISBN-13: 978-9811000041


Investing in China Through Free Trade Zones (book)

We are pleased to present “Investing in China Through Free Trade Zones”, a new book by Lorenzo Riccardi edited by Springer.

 The Book



This book introduces the concept and development of Free Trade Zones that China has launched to re-boost its economy and attract foreign investors. The Pilot Free Trade Zone was established in September 2013 in Shanghai by the The Chinese State Council with the specific purpose to transform China into an open economy and to seek new challenges for growth opportunities.

 The chapters analyse the evolution of different kind of special zones, bonded ports and logistic zones in China during the years. The country has in fact developed a number of special and free-trade zones but the new Pilot Shanghai FTZ includes all previous privileges, promoting the area as perfect hub for the Asia-Pacific region.

 The guide examines in depth the economic, strategic and political effects of Chinese economic and financial reforms. The results of the analysis are further clarified by comparing Shanghai with other asian hub-cities: Singapore and Hong Kong. 

 This publication focuses also on other changes that the central Chinese government of Beijing is planning to implement in the whole country and represents a valuable business guide for appraising new opportunities in the most promising sectors for business enterprises in China.



• Hardcover: 234 pages

• Publisher: Springer
• Language: English
 ISBN-10: 3662473534 



The book can be purchased on any online books shop:http://www.amazon.com/Investing-China-through-Trade-Zones/dp/3662473534/ref=sr_1_4?s=books&ie=UTF8&qid=1443346642&sr=1-4

or contacting RsA Asia:  / www.rsa-tax.com

The Author 

Lorenzo Riccardi teaches Chinese Taxation at Xian Jiao Tong-Liverpool University, he has also taught Asian taxation at Pecking University, Tongji University, Shanghai Jiao Tong and Hult Business School. He is a certificate public accountant, specialised in international taxation and is the author of articles and essays on issues of various kinds related to foreign investment in East Asia. He lives and works in Shanghai, where he is the managing partner of RsA Asia, a consulting firm focusing on foreign investment in China and South East Asia.

He is an auditor and board member of several companies. He is Director of China-Italy Chamber of Commerce. //Questo indirizzo email è protetto dagli spambots. È necessario abilitare JavaScript per vederlo./" target="_blank" rel="nofollow" style="margin: 0px; padding: 0px; border: 0px; font-weight: inherit; font-style: inherit; font-family: inherit; vertical-align: baseline; text-decoration: none; color: rgb(140, 104, 203); font-variant: inherit; font-stretch: inherit; line-height: inherit; outline: none; box-sizing: border-box; background: transparent;">Questo indirizzo email è protetto dagli spambots. È necessario abilitare JavaScript per vederlo.

He also published: Gli investimenti in Asia Orientale (Maggioli 2014), China Tax Law and International Treaties (Springer 2013), Vietnam Tax Guide (Springer 2012), Guida alla fiscalità di Cina, India e Vietnam (Il Sole24 Ore 2011)




 

















Investing in China Through Free Trade Zones (new book)

We are pleased to present “Investing in China Through Free Trade Zones”, a new book by Lorenzo Riccardi edited by Springer.

 The Book



This book introduces the concept and development of Free Trade Zones that China has launched to re-boost its economy and attract foreign investors. The Pilot Free Trade Zone was established in September 2013 in Shanghai by the The Chinese State Council with the specific purpose to transform China into an open economy and to seek new challenges for growth opportunities.

 The chapters analyse the evolution of different kind of special zones, bonded ports and logistic zones in China during the years. The country has in fact developed a number of special and free-trade zones but the new Pilot Shanghai FTZ includes all previous privileges, promoting the area as perfect hub for the Asia-Pacific region.

 The guide examines in depth the economic, strategic and political effects of Chinese economic and financial reforms. The results of the analysis are further clarified by comparing Shanghai with other asian hub-cities: Singapore and Hong Kong. 

 This publication focuses also on other changes that the central Chinese government of Beijing is planning to implement in the whole country and represents a valuable business guide for appraising new opportunities in the most promising sectors for business enterprises in China.



• Hardcover: 234 pages

• Publisher: Springer
• Language: English
 ISBN-10: 3662473534 



The book can be purchased on any online books shop:http://www.amazon.com/Investing-China-through-Trade-Zones/dp/3662473534/ref=sr_1_4?s=books&ie=UTF8&qid=1443346642&sr=1-4

or contacting RsA Asia:  / www.rsa-tax.com

The Author 

Lorenzo Riccardi teaches Chinese Taxation at Xian Jiao Tong-Liverpool University, he has also taught Asian taxation at Pecking University, Tongji University, Shanghai Jiao Tong and Hult Business School. He is a certificate public accountant, specialised in international taxation and is the author of articles and essays on issues of various kinds related to foreign investment in East Asia. He lives and works in Shanghai, where he is the managing partner of RsA Asia, a consulting firm focusing on foreign investment in China and South East Asia.

He is an auditor and board member of several companies. He is Director of China-Italy Chamber of Commerce. //Questo indirizzo email è protetto dagli spambots. È necessario abilitare JavaScript per vederlo./" target="_blank" rel="nofollow" style="margin: 0px; padding: 0px; border: 0px; font-weight: inherit; font-style: inherit; font-family: inherit; vertical-align: baseline; text-decoration: none; color: rgb(140, 104, 203); font-variant: inherit; font-stretch: inherit; line-height: inherit; outline: none; box-sizing: border-box; background: transparent;">Questo indirizzo email è protetto dagli spambots. È necessario abilitare JavaScript per vederlo.

He also published: Gli investimenti in Asia Orientale (Maggioli 2014), China Tax Law and International Treaties (Springer 2013), Vietnam Tax Guide (Springer 2012), Guida alla fiscalità di Cina, India e Vietnam (Il Sole24 Ore 2011)