As 2023 draws to a close, we take a look at some of the more prominent articles that provided highlights over the past year. Some of the articles had a profound impact on the year that has passed while others influence the trajectory of the coming year. Here we break down the top 5 articles that are significant for anyone navigating the landscape of business opportunities in China.
1. Getting Documents Authenticated Just Became Easier
Document authentication in China has always presented significant challenges due to differing processes and protocols. However, in March of 2023 it was announced that China had submitted an instrument of accession to the Hague Convention, removing the requirement of legalization for foreign public documents, also known as the Apostille Convention.
As of the 7th of November, this has now come into effect, simplifying the authentication of documents in China and removing the lengthy legalization process. For those wishing to get documents authenticated and validated, it has now become a lot easier.
2. China Introduces New Measures to Attract Foreign Investment
As China aims to attract more foreign investment amidst a decrease in FDI, the Chinese government had released a 24-point plan, which is aimed at relaxing regulations and encouraging foreign investment.
Take a look at this article to find out how China aims to create more opportunities while stimulating more foreign investment.
3. How to Do Business in China
Despite global challenges and an ever-changing sentiment towards China, China still remains an important place for many businesses. Whether large or small scale, there is still a great deal of opportunity for businesses wanting to participate in the Chinese market.
As such, we have made a summarized guide of 6 ways you can do business in China, depending on your needs and the kind of business you want to do. Whether it be sourcing, e-commerce or selling professional services, this article gives a short explanation of how you can get started in China.
4. How to Finance Your Entity in China
With China still being an attractive place to do business, it is important for companies wanting to invest to understand how they can finance their Chinese entity. Different companies will have different financial strategies, therefore it is important to choose a strategy best suited for your business needs and goals, especially entering the new year.
Read this article and find out 4 of the best ways foreign investors can finance their business in China.
5. Tax Updates in China
In order to show ongoing commitment to the private sector and to remain attractive for foreign investment, the Chinese government had made several important announcements related to taxes of individuals and enterprises at the end of August.
Among the announcements was the extension of the preferential income tax policy for foreigners in China, which came as a relief to both foreign individuals and businesses who hire them. Here you can take a look at a summary of the most important announcements.
Growing Your Presence in China in 2024
Whether you are starting a new business China or considering improving your current one, it is important to have a partner who fully understands China and the Chinese regulatory landscape. By partnering with us you have access to all the knowledge and expertise necessary to successfully allow you to achieve success in the Chinese market. We are dedicated to making all administrative activities for our clients as simple as possible.
