Weekly Roundup: Olympic Airport is Open!, Rule of Law, and 150 Billion in Fake Fapiaos

Monday, March 3, 2008 1:13
Posted in category Uncategorized

With so much going on in China, and only a limited amount of bandwidth, I have created this weekly post to highlight articles that I feel are (1) important, (2) relevant, and (3) interesting.

This week there are 2 articles and a Youtube that I have chosen to highlight as each are quite interesting, they are all relevant, and there are issues within each that I think you the reader should be aware of.

If you have an article that you feel needs to be mentioned, please do so in the comments section. We all have different areas of interest and bandwidth, so I hope you will take some time and post those articles!

Beijing’s New Terminal is open

This Youtube clip is one of the better ones that I have seen, and the comparison made about how quickly it was built is fantastic.

White paper: China’s Efforts and Achievements in Promoting the Rule of Law

Through my 6 years in China, I have been witness to more changes than probably occurred on any level in my previous 25 years in the US, and for me one of the most important changes has been what I have seen as a stabilization and maturation of China’s regulatory environment. there are surely cases to point to the otherwise, and there will continue to be setbacks, but the general trend is towards stability and I think that this white paper does a fair job of reporting this trend. Keep in mind it is being put out by the government itself, but overall I would agree with the tone and optimism of the page.

On the fake take
5 years back, the Chinese government came up with a brilliant idea when addressing the problem of retailers dodging their taxes by creating receipts that had a lotto style scratch off on it. Equivalent to the amount of the purchase, what resulted was customers would actually asked for the receipt, a receipt that retailers would have to pay a percentage of the face value for… essentially, paying their tax. Well, as you can imagine, this opened the door to a black market of receipts that were cheaper than the gov’t recipts, and apparently the industry is HUGE as a Chinese gang based in Yunnan has been charged with printing $147 billion USD in fake receipts.

WOW.. talk about overstating ones deductions

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One Response to “Weekly Roundup: Olympic Airport is Open!, Rule of Law, and 150 Billion in Fake Fapiaos”

  1. Steve C says:

    March 4th, 2008 at 2:42 pm

    Late last year I was with a friend in Fuzhou who insisted we ask for a receipt (fapiao) for each time we ate or drank. He told me it was the only way restaurants and bars would pay their fair share of taxes and it would actually help the ‘people’ of China. As usual the best wishes do not match up to the reality of the situation. I shall still ask for receipts and can only hope they come from the government. Cheers and thanks for all the very relevent information