2023 Sino Benelux Business Survey
Taking stock of Business in China over the past year has been a challenge for most businesses. We need not mention the impact of the restrictions and lockdowns felt across multiple sectors, which had a ripple effect on the global economy. With the zero-Covid policy coming to an end in China, businesses have an optimistic […]
Encouraged Industries for Foreign Investment China
China is maximizing its efforts to accelerate the opening of its economy by enabling more opportunities for foreign companies to invest. In 2019, authorities released the Catalogue of Industries for Encouraged Foreign Investment, which consists of more than 1,400 items which detail the types of investments and industries that can benefit from the country’s improved […]
Hiring Foreign Employees in China
China is one of the most sought-after countries for foreign investment because of its enticing policies, competitive labor rates, and market reach. For foreign employers, hiring both local and foreign employees ensures the right combination of competence and diversity. Before foreign businesses can employ expatriates, they need to go through a lengthy process and provide […]
The End to China’s COVID-Zero Policy
The zero-COVID measures enforced by China had been seen to be effective for a period of time, but as the world learned to live with COVID China had upheld the stringent measures. The measures, which had an impact on businesses and individuals, had restricted travel and impacted global supply chains . With the recent developments […]
China 2022 Q4 Results – Stable National Economy Manages Pressures
The year-on-year growth rate for the fourth quarter of 2022 increased by 2.9%, while the quarter-on-quarter GDP for the same quarter remain unchanged from the third quarter. Under the leadership of the CPC Central Committee and State Council, the economy of China maintained stability while responding successfully to internal and external challenges in the global […]
What to Expect From China in 2023
Globally 2022 has been a difficult economic period to navigate with so many headwinds prevailing. China had additional restrictions to manage with the implementation of its zero-Covid policies. Businesses became even more risk averse, most opting for a cash conservation approach to preserve much needed liquidity. Covid policies impacted staff, supply chains, logistics, manufacturing, productivity and […]
Banking in China
What is a Business Bank Account? A business bank account is a bank account used by business owners to carry out corporate transactions, in addition to being a separate account that allows businesses to effectively manage their finances and tax obligations. While business bank accounts operate similarly to a standard personal bank account, users often […]
Tax Rate in China
In accordance with Chinese tax legislation, every company operating a subsidiary in the country is obligated to fulfill monthly tax filings and other related requirements. Compliance with local standards for tax legislation is imperative to maintaining control and minimizing risk for your business in China. This article will go over the primary types of applicable […]
Imports and Exports in China
Total imports in China contributed approximately 15.2% to overall GDP in 2021, with even greater export contributions, amounting to roughly 676.7 billion U.S. dollars. As the world’s largest trader of goods, China has experienced a steady development of its imports throughout the decade following 2013, when it overcame the United States in total trade volume. […]
ERP Systems in China
If you work in finance, accounting or in the business arena in general you may have come across the term ERP, but what does it actually mean? ERP systems are growing in popularity as they offer many benefits compared to more traditional methods of managing data. In China, more foreign business managers are looking into […]
