property price in Wenzhou dropped 40%

News on ifeng.com had it that property prices in Wenzhou have seen a 40% drop off its peak prices in the year of 2010.

Wenzhou is a special place in China’s economic landscape boasting its big population of enterpreneurs in the city. The local affluence and fortunes have found easy expression in the local property prices that may easily dwarf or belittle…

Sell China property, but not just about sale

I am representing two clients in selling their properties in Shanghai, China. It seemed that people are losing confidence in China property market, a sign that the growth of Chinese economy in a whole is slowing down to a lackluster rate.

Foreigners may be more worried about their holding of properties in China as they are often alarmed by western media about …

dependent personal service or independent personal service?

There is a question in my mind for long, or I should rather say it is more of a contradiction or confusion rather than a question.

For expats working in Shanghai as chief or general representatives in representative offices, in the case of employment disputes with the rep office, their relationship with the rep office is not regarded as the normal labor relationship…

A good case for reference regarding moving money out of China

Many of us know that there is underground banking in Chinese grey financial market, allowing money flowing across Chinese border without undergoing the cumbersome and lengthy procedures and formalities laid down by China State Administration of Foreign Exchange.

The case offers a quite clear picture of how one of the these underground banking systems works.  …

real estate mortgage/hypothecation/guarantee in China

Recently, a foreign trading company importing a production line from a manufacturer in Shanghai inquired about what should be considered when accepting a contract performance guarantee in the form of real property hypothecation provided by the Chinese exporter which offered to collateralize its buildings and underlying land to guarantee the production…

Chinese Labor Contract Law, it is not for you, dude!

One of my corporate clients recently asked about how to terminate the employment of one of its senior officers. The client is a WFOE invested by an American company. The poor employee is one who has served the WFOE for more than ten years taking up the regional sale manager position and receiving a hefty monthly salary of more than RMB 50,000. Due to the dipping Chinese…

Another meaningful victory against Shanghai local government in respect of inheritance of garden villa on allocated land

A few months ago, I was approached by one of the offspring of Sun Yat Sen, the founder of the Republic of China, for his trouble in inheriting a garden villa located in Xuhui district in Shanghai China. The trouble is that he and other heirs to the estate garden villa are required by local land administration to pay a big sum of land grant fee for the land underlying …

move money and property out of China

Moving money, assets and property out of China is quite a sensitive matter in China, though such moves take place every day across the Chinese borders. It is a known secret that a bulk of the money so moved is illegal proceeds generated by corrupt officials and their cronies. While we see a great deal of illegal transfer across the border, for ordinary people, moving…