Increased globalization of businesses in China, coupled with a growing sophistication in the approaches taken by tax authorities to secure compliance with domestic and international rules on transfer pricing, has presented a challenge for multinational corporations and Chinese companies. This conference, held in Shanghai on 2-5 June 2008, provided an illustration of the complex issues, rules, and planning opportunities involved in transfer pricing. NERA Senior Vice President Dr. Harlow Higinbotham delivered a presentation entitled "Transfer Pricing Challenges of Increasing Globalization and Multilateralism." Their presentation addressed conflicting standards for transfer pricing documentation; tax authority scrutiny and valuation standards for business migrations; reconciling bilateral pricing methods and dispute resolution practices with multilateral business strategies; and managing related party transactions with joint ventures in emerging markets.