Research & Analysis

Asia Society’s high-level United Nations General Assembly-related events began with a discussion on the outlook of US-China relations after the 2016 election.

Suppressing rising property prices is a common theme through President Xi Jinping’s speeches, the Ministry of Housing and Rural-Urban Development’s (MOHURD) policies, and Central Commission for Discipline Inspection (CCDI) campaigns. The state’s anti-corruption apparatus will continue to be deployed in tandem with Xi’s supply-side policies to reduce excess housing in small cities and deflate the housing bubble in large cities. To anticipate the direction of government policy on real estate in the near future, it is important to keep track of political developments and personnel shifts within the government, particularly conclusions from the sixth plenum of the 18th Party Congress this month and the opening of the 19th Party Congress next fall.

According to the Shanghai Municipal Human Resource and Social Security Bureau, a new regulation on wage payment methods for Shanghai-based organizations went into effect August 1. The new regulation, issued to replace the 2003 version, expands the scope and makes several clarifications and improvements on wage calculation and standards. The new regulation is expected to minimize law disputes regarding wage issues with more specific guidance and solutions.

Many employers in China are overlooking the importance of a staff handbook and instead are relying on an employment contracts, which often don’t include some key provisions. While an employment contract details important terms such as working hours, salary, main duties, and responsibilities, issues such as overtime rules, codes of conduct, performance standards, promotion standards, and KPIs are often omitted.

In a public setback for China’s Ministry of Commerce (MOFCOM), a touted foreign investment reform reflects the continued use of the National Development and Reform Commission’s (NDRC) approach to managing inbound foreign investment and fails to include even the limited openings that MOFCOM advocated.

Traditionally overshadowed by metropolises such as Shanghai and Beijing, Zhejiang Province’s capital city of Hangzhou found itself in the global spotlight during the G20 Summit. To beautify the city and ease congestion for its international guests, the government shut down polluting factories, shipped away migrant workers, gave citizens vouchers to encourage vacation, and spent more than $1 billion on a new convention center.