Western companies are increasingly counting on China to deliver growth not available elsewhere, but the country’s consumers remain reluctant to boost their domestic spending, according to a survey of consumer attitudes published by the Economist Intelligence Unit, the Financial Times reported. “Chinese consumers, both urban and rural, although optimistic about the future, remain big savers and cautious spenders, despite their government’s concerted effort to stimulate domestic demand,” the EIU said. In spite of a Rmb4,000bn ($589bn) stimulus package, targeted tax breaks and other in

Welcome to the fifth edition of this publication which has been compiled by the Salans Global Corporate Group comprising experienced lawyers from each of our 22 offices. Previous editions have dealt with: the establishment of companies and partnerships in key jurisdictions; the use of warranties in international acquisitions; the issue and transfer of securities in key jurisdictions;and governmental approvals and third party consents in corporate transactions.

PRC Insolvency Law: The New PRC Bankruptcy Law, NPLs and Out-of-Court Workouts - George M. Kelakos, Charles D. Booth, Cosimo Borrelli, Brent C. Carlson, Allan L. Gropper, Michael Harris, John Matthew Marsden, Malhar Pagay, Zhao Bing

In China’s factories, pay and protest are on the rise. That is good for China, and for the world economy, The Economist reported. Cheap labour has built China’s economic miracle. Its manufacturing workers toil for a small fraction of the cost of their American or German competitors. At the bottom of the heap, a “floating population” of about 130m migrants work in China’s boomtowns, taking home 1,348 yuan a month on average last year. That is a mere $197, little more than one-twentieth of the average monthly wage in America. But it is 17% more than the year before.