Weekly Industry News – China & Singapore: Legal, Regulatory & Compliance

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Chief Justice of Constitutional Court Detained by Anti-Corruption Authority Posted on Jakarta Globe by Jakarta Globe

Constitutional Court chief justice Akil Mochtar was arrested by the Corruption Eradication Commission (KPK) late on Wednesday in a graft crisis that further tarnishes Indonesia’s legal image. “I called the secretary general of the [Constitutional Court], and he said he didn’t know. I told him to check,” Mahfud MD, Akil’s predecessor, told Kompas TV on Wednesday night. “Five minutes later, he called back and hysterically told me that Pak Akil Mochtar was arrested. I‘m shocked.”… [ Read More ]

China: US Shutdown Exposes ‘Ugly Side of Partisan Politics‘ Posted on voanews.com by Reuters

China on Wednesday said the U.S. government shutdown had exposed “the ugly side of partisan politics” in Washington and expressed concern about its effect on the world economy. An editorial on the state-run Xinhua news service, considered a channel for Beijing’s official views, said, “The United States, the world’s sole superpower, has engaged in irresponsible spending for years.”… [ Read More ]

China’s Gold Demand Seen Rising by at Least Economic Growth Posted on Bloomberg by Nicholas Larkin

Consumer gold demand in China, last year’s second-biggest user after India, may increase by at least the same pace as the country’s economic growth, according to the World Gold Council. Economic expansion may slow to 7.4 percent next year and 7.2 percent in 2015, from 7.6 percent this year, according to economist estimates compiled by Bloomberg. Chinese gold demand growth may at least match those increases and could rise further as a rising population has more disposable income, Albert Cheng, Far East managing director at the council, said in an interview at a London Bullion Market Association conference in Rome…. [ Read More ]

China considers revising law on animal testing for cosmetics Posted on Pravda by Editor

The Chinese government has announced that the country’s main cosmetics regulation is to be revised. Humane Society International’s Be Cruelty-Free campaign welcomes this move as the opportunity for China to move beyond animal testing in the cosmetics sector.  HSI’s Be Cruelty-FreeCampaign Welcomes Revision of China Cosmetics Law as Time to Modernise Without Animal Testing… [Read More ]

Shanghai’s New Free Trade Zone – General Plan and Regulations Posted on China Briefing by China Briefing

China’s Central Government released the “General Plan for the China (Shanghai) Free Trade Zone (guofa [2013] No. 38, hereafter referred to as the ‘Plan’)” late yesterday afternoon, which lists out the reform tasks and liberalizing measures for the Shanghai Free Trade Zone (FTZ). Detailed information on the three main tasks can be found below…. [ Read More ]  

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