Category: 新闻资讯

You may have heard the news that Chinese telecom equipment giant Huawei’s chief financial officer Sabrina Meng Wanzhou was detained in Vancouver at the request of the US government.

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2017 China’s most 

outstanding businesswomen

 

Ms Meng joined Huawei in 1993 and held various positions in the company’s finance departments. She is currently one of the board of directors’ deputy chairpersons and the company’s chief financial officer.

On February 6, 2017, Forbes released the “2017 China’s most outstanding businesswomen list” on which she ranked eighth. Now, She is in charge of Huawei’s nearly RMB 700 billion worth of financial affairs!

Why was she detained?

Chinese foreign ministry spokesman said that both the US and Canadian authorities had yet to clarify their reason for arresting Meng, who is also one of Huawei’s deputy chairpersons and a daughter of its founder and chief executive Ren Zhengfei.

Her arrest in Vancouver raises more doubts about a 90-day truce on trade struck between Presidents Donald Trump and Xi Jinping on December 1, the day she was detained.

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Chinese commerce ministry deflected questions that tied Huawei’s crisis to the US-China trade war.

Meng was tipped by some mainland Chinese media as a leading contender to succeed her father Ren Zhengfei at the helm of the telecom giant. She was arrested because she attempted to evade the trade embargo placed by the US on Iran, The Globe and Mail reported, citing a Canadian source with knowledge of the arrest. No other details were available.

Huawei officials quickly 

issued a statement

 

In a statement, Huawei acknowledged the detention and extradition request by the US government.

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“Recently, our corporate CFO, Ms Meng Wanzhou, was provisionally detained by the Canadian authorities on behalf of the United States of America, which seeks the extradition of Ms Meng Wanzhou to face unspecified charges in the Eastern District of New York, while she was transferring flights in Canada.”

“The company has been provided very little information regarding the charges and is not aware of any wrongdoing by Ms Meng. The company believes the Canadian and US legal systems will ultimately reach a just conclusion,” Huawei said.

“Huawei complies with all applicable laws and regulations where it operates, including applicable export control and sanction laws and regulations of the UN, US and EU,” the company said.

The reason behind 

the arrest of Ms. Meng

Many media have pointed out that this time of arresting is very sensitive since just two days ago, China and the United States reached a new trade agreement, and the economic relations between the two countries have eased. At this juncture, the United States has released hostile signals to Chinese companies.

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The root cause is that China’s fast-growing Chinese electronics companies such as ZTE and Huawei have reached a top level in many technologies and will break the Western technology monopoly on electronic products. Because of this, Chinese technology companies have always been the most serious threat to the US government.

In 2016, ZTE was accused by the US government of selling products such as mobile phones with US restricted technology to countries that were sanctioned by the United States, such as Iran and North Korea, and was banned by the US government. ZTE finally accepted a fine of 1.19 billion to continue its business in the United States.

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This year, Bloomberg issued an article saying that all the hardware facilities produced in China have their own spy devices smaller than rice grains, and they are calling on the world not to buy Chinese electronic products. It was later confirmed to be fake news.

Many people may not know that Huawei’s most powerful place is not a mobile phone, but it is the world’s largest supplier of communication equipment. The infrastructure of most communication technologies in the world, such as base stations and servers, cannot be separated from Huawei products.

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Huawei has reached the global leading level in the next-generation communication technology, 5G communication. In the near future, most mobile phones in the world will use Huawei’s high-speed mobile network.

Many mobile companies in Western countries have signed cooperation agreements with Huawei to build 5G base stations. Chinese technology is about to become a unicorn in the global market.

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However, the United States stalked from it and banned the import of Huawei’s communication equipment on the grounds of national security. It also forced its allies to cancel cooperation with Huawei.

 

A crisis between three countries

 if Meng were extradited!

Wenran Jiang, a senior fellow at the Institute of Asian Research at the University of British Columbia, said the Chinese would interpret the arrest as a planned conspiracy to do damage.

“She was in transit though Vancouver,” he said. “That means the intelligence agencies in Canada and the US were tracking her and planning to arrest her for some time.”

He foresaw a crisis in relations between the three countries if Meng were extradited, and said any talk of a free-trade agreement between Canada and China would end.

In the eyes of most people, pedestrians are the “vulnerable groups” in road traffic accidents, and other parties should bear primary or secondary responsibilities for accidents involving pedestrians. 

© Image | 江苏广电融媒体新闻中心

However, in a recent traffic accident in Zhongshan, Guangdong province, a pedestrian was sentenced and fined 200,000 yuan for crossing the road and playing mobile phone.

How did this happen?

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At about 8 pm on May 27, 2017, a woman surnamed Hu was crossing a road at a red light when she collided with a motorcycle heading straight ahead.

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According to the monitoring video at the time: When Hu was running the red light, she had been looking down at the phone!

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When she found out that the motorcycle was coming, she tried to speed up to escape, but ultimately failed to avoid the tragedy. Hu was knocked down, and the motorcycle driver and the passenger Zhang also slipped to the ground. Zhang eventually died due to ineffective rescue.

After the trial, the first court of Zhongshan City sentenced the pedestrian Hu to 10 months in prison and suspended for 1 year. At the same time, Hu and the family of the victim reached a settlement and compensated the victim’s family for 200,000 yuan.

Why was this pedestrian responsible for the main responsibility and criminal responsibility in the incident?

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Xie Yujuan, a lawyer at a Law Firm in Jiangsu, explained that Hu did not cross the road in accordance with the traffic signal, and that the use of mobile phone in the process was the main cause of the accident. According to relevant regulations, non-traffic personnel can also become the criminal subject of traffic accidents.

Street Survey: 

30+ people run a red light in 10 mins

In real life, the phenomenon of pedestrians running red lights is not uncommon. Some reporters observed at the intersection that in just 10 minutes, more than 30 people ran a red light. What’s more, it’s very dangerous that many of them were rushing through red lights on electric bikes or bicycles.

Lawyers said that in daily life, pedestrians ignore the rules for various reasons or regard themselves as a vulnerable group. She hopes that this case will cause pedestrians, especially the phubbers, to pay more attention to traffic safety.

A race marshal is under fire after he forced an Ethiopian runner to an abrupt stop soon after he crossed the finish line in first place at a marathon in southern China over the weekend.

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The official grabbed the arm of professional athlete Gelgelo Tona Outoya as he was still jogging after winning the Nanning International Marathon in Guangxi on Sunday – causing the runner to collapse on the ground.

The incident, broadcast live on state television, has caused uproar, with many viewers criticising the marshal for putting Outoya’s health at risk as he tried to cool down from the long-distance race.

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It came two weeks after a Chinese runner controversially lost to an Ethiopian rival after a marshal ran in front of her and pressed a national flag into her hand as she was sprinting towards the finish line at a marathon in Suzhou, Jiangsu province.

The marshal involved in the latest incident said he was just trying to support Outoya so that he did not fall over, an official from the Nanning Sports Bureau told Beijing Youth Daily on Tuesday.

“The runner seemed to be slightly confused after he crossed the line and he kept running towards the photo area – so the marshal grabbed him to try to stop him from running into [other people],” the official told the state-controlled newspaper, which did not name him or the marshal.

The official also denied an accusation that the marshal had been trying to steer the athlete towards an event banner for a photo, saying there were no photographs or other ceremonies held for the runners after the race.

Footage from the China Central Television broadcast shows an official grabbing Outoya by the arm to stop him, causing the runner to slump on the ground in an area where other race staff were gathered.

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The Chinese Athletic Association had moved to address concerns about the behaviour of event staff after the Suzhou incident. Days before the Nanning race, the association said it would make sure competitors could take part in marathons without interference from officials. 

 

Any ceremonies or activities held during races should not get in the way of fair competition, the association told organisers at a meeting last week.

Outoya is not the first runner to find himself unexpectedly on the ground after a race in China. In 2015, Jamaican sprinter Usain Bolt had just won the 200-metre title at the World Athletics Championships in Beijing when he was wiped out by a cameraman who lost control of his Segway. Bolt was soon back on his feet and laughing about the incident.

Many of our friends have received a message from banks as below these days, worryingly, they asked HACOS, ‘what is this all about’? Well, let’s figure it out!

 

#1 What is a Tax Resident in China?

The definition for this term may vary from country to country, but mostly, an individual can qualify to be treated as a Tax Resident either under a qualitative or quantitative standard. China is not an exception.

A PRC Tax Resident refers to individuals who have domicile in the PRC, or who have resided for one year(365days) or more in the PRC, whereas, an individual can be deemed to be Non-Tax Resident in China if he/she travels outside of China for a single trip over 30days, or combined trips over 90days in a tax year.

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According to the Regulation on the Implementation of the Individual Income Tax Law of the People’s Republic of China and the Levy of Individual Income Tax, A Tax Resident in China shall pay individual income tax on all their income, no matter their income derived within the territory of China or outside China.

 

 

#2 Why there is such a message?

 

Well, China has entered the (CRS) Common Reporting Standard, a system was intended to transfer all relevant information automatically and systematically, this message is intended to inform all the accounts holders report their tax information spontaneously to the banks.

 

 

#3 How do we deal with it?

 

Easy! If you are a Tax Resident in China(30 days, 90days rule), Report the individual income no matter derived within or outside China to China Tax Government. If you are a Non-Tax Resident, forget it, well, it is according to the law.

 

 

#4 Are you a Tax Resident?

 

Ell, many of you may have this question, what if I tell the truth that I am a Tax Resident in China, what time and how would China Tax Bureau levy the tax from me. 

 

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To be honest, it is an obligation to pay tax voluntarily everywhere in this world, it is a matter of time to get all things to the right direction. So, let’s get started before it’s too late.