China Top Industries: An Overview
China’s economy has undergone significant transformation over the years. The Chinese government’s policies have been pivotal in nurturing various sectors, aiming to move the economy up the value chain. As a result, few industries have emerged as substantial contributors to the country’s Gross Domestic Product (GDP) and have become integral to its economic identity. Manufacturing […]
FESCO Services in China
A FESCO (Foreign Enterprise Service Company) in China provides comprehensive employment solutions for foreign companies, including market entry, HR outsourcing, payroll services, and employment outsourcing. FESCOs offer flexibility and scalability in managing workforce size and composition, enabling quick adjustments to align with business needs. They also handle mandatory benefits administration, visa processing, and payroll, allowing […]
How to Register an ICP Licence in China
An ICP license stands for Internet Content Provider license, a requirement for any website that wants to operate legitimately within China’s borders. It is a regulatory measure set by the Chinese Ministry of Industry and Information Technology (MIIT) that is crucial in maintaining the integrity and lawfulness of the country’s internet space. Without this license, […]
China ESG: All You Need to Know
Environmental, social, and governance (ESG) initiatives have become vital benchmarks for investment and corporate performance worldwide, with China making significant strides to align its ESG reporting with global practices. As the second-largest economy with a rapidly expanding market, China’s approach to ESG reporting bears considerable weight on its domestic economic landscape and international investment flows. […]
Working Hours in China
Working hours in China have been defined by a framework that aims to balance the demands of the country’s burgeoning economy with the need for workers’ well-being. The standard workhour system establishes a typical workweek as eight hours per day and 40 hours per week. The People’s Republic of China Labor Law mandates this rhythm […]
Chinese Currency (RMB): Understanding the Renminbi
The Chinese currency, known as the renminbi, is the legal tender in the People’s Republic of China. ‘renminbi’ translates to ‘people’s currency’ and is abbreviated as RMB, with the symbol ¥ and the ISO code CNY. The currency is managed by the People’s Bank of China, the country’s central bank, and has undergone significant reform […]
Minimum Monthly and Hourly Wage in China for 2024
Minimum wage policies in China are pivotal in ensuring a baseline standard of living for workers across its vast and economically diverse regions. With each province and city setting its minimum wage levels, the regional cost of living, economic development, and labor market conditions are reflected within these thresholds. As China continues to evolve economically, […]
Permanent Establishment China
The Permanent Establishment (PE) is frequently used in double taxation avoidance agreements (DTAs). When a PE is constituted, China levies taxes over service fee payments between a foreign company and a local entity.
Set up a Representative Office in China
Navigating the complexities of doing business in China can be challenging, especially when deciding on the optimal market entry vehicle. This decision holds significant weight for foreign businesses seeking entry into the Chinese market. One of the primary investment vehicles employed by foreign businesses for entering China is the representative office. While not formally acknowledged […]
How to Exit the Chinese market? 3 Business Exit Strategies
To provide a better understanding on how to exit the Chinese market and which options are available to foreign invested enterprises in China, we have prepared an overview of 3 separate ways to exit the Chinese market.
