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Economy & Trade

China’s Economy Expands 5.3% in Q1 2024

04/17/2024

China's GDP expanded 5.3% in Q1 2024 thanks to strong manufacturing and services output, setting the country on track to reach its annual growth target.

Shanghai's Lingang New Area Launches First Cross-Border Data Service Center to Facilitate Data Export

04/12/2024

The new cross-border data service center will provide consulting services to companies in Shanghai and facilitate data export.

China-Netherlands Relations: Bilateral Trade and Investments Overview

04/09/2024

We discuss trade and investment relations between China and the Netherlands, areas of potential business growth, and standing challenges.

US-China Relations in the Biden Era: A Timeline

04/08/2024

Timeline tracking key developments affecting US-China bilateral trade and business engagement under the Joe Biden administration.

Hong Kong Launches a New Capital Investment Entrant Scheme

04/05/2024

Launched in March 2024, the New Capital Investment Entrant Scheme (New CIES) makes investing in Hong Kong easier for eligible individuals.

China Expands Market Access in Cross-Border Services with Release of New Negative Lists

04/01/2024

The negative lists provide clarity and relax restrictions on overseas companies selling services to China, laying the groundwork for future market access expansion.

Tax & Accounting

A Guide to China’s New Company Law for Foreign Investors – New Publication Out Now

04/16/2024

China's New Company Law has far-reaching implications for businesses. In this publication, we guide foreign investors through the changes of the New Company Law for existing and new FIEs and relevant stakeholders.

Annual CIT Reconciliation in 2024 - A Brief Guide for Companies

04/11/2024

Companies are advised to begin tax filing procedures as soon as possible to complete CIT reconciliation before the deadline of May 31, 2024.

China Monthly Tax Brief: March 2024

04/02/2024

In this monthly China tax brief, we spotlight policies and measures announced or scheduled for implementation in March 2024. These initiatives target to increase market access, attract foreign investment, support technology innovation, and clarify tax compliance.

Navigating Hong Kong’s Annual Employer’s Return: Compliance and Best Practices

03/25/2024

The Annual Employer’s Return filing in Hong Kong begins on the first working day of April and should be completed within one month. Employers are advised to start preparations early and allocate sufficient resources to meet this tight deadline.

Tax Filing for Outbound Payments in China: A Complete Guide

03/22/2024

When an individual or organization in China makes a single outbound payment to overseas entities that exceeds the equivalent of US$50,000, the payer must complete tax filing for outbound payments with the local branch of the STA, with limited exceptions.

China Monthly Tax Brief: February 2024

03/13/2024

In this monthly China tax brief, we spotlight policies and measures announced or scheduled for implementation in February 2024. These initiatives aim to clarify tax compliance, support businesses, promote headquarters, expand market access, and attract talent.

Legal & Regulatory

China Announces Industrial Equipment Upgrading Action Plan

04/19/2024

China announced an ambitious action plan for industrial equipment upgrading, which aims to drive technological innovation and economic growth through extensive investment and regulatory support. We highlight the key details and takeaways from the plan.

China to Relax Foreign Ownership Limits in Value-Added Telecommunication Services

04/18/2024

China has launched a pilot program in specific regions to relax foreign ownership restrictions on certain value-added telecommunication services. The program aims to attract foreign investment and boost market activity.

China's Draft Certification Standards for Cross-Border Personal Information Transfer (Updated)

04/17/2024

China's standards committee has begun soliciting feedback on standards for third-party agencies to certify companies for personal information export.

Cross-Border Data Transfer - New Measures Clarify Security Review Requirements

04/17/2024

China has released long-awaited measures detailing requirements for security assessments for transferring data out of the country.

Standard Contract Measures for Personal Information Export Come into Force June 1, Additional Guidelines Released

04/17/2024

The CAC has adopted measures for the streamlined "Standard Contract" procedure for exporting personal information. Here's how it works.

A Guide to China’s New Company Law for Foreign Investors – New Publication Out Now

04/16/2024

China's New Company Law has far-reaching implications for businesses. In this publication, we guide foreign investors through the changes of the New Company Law for existing and new FIEs and relevant stakeholders.

Industries

Hong Kong’s Cosmetics and Skincare Market - Trends and Industry Overview

03/19/2024

The Hong Kong skincare market is dominated by international trade, while new trends in bespoke product formula, emphasis on 'clean beauty', and online commerce present emerging opportunities.

China's Machine Tool Industry: Market Trends and Opportunities

03/07/2024

China's machine tool industry, with a market value surpassing RMB 200 billion (approximately US$27.86 billion), heavily depends on foreign imports, creating diverse opportunities for global collaboration and investment, bolstered by substantial government incentives.

Navigating the Impact of OpenAI’s Sora on China’s AI Industry

02/28/2024

Sora, OpenAI's groundbreaking text-to-video model, has sparked both excitement and caution in China's tech industry.

China's Dairy Industry - Market Trends and Opportunities

02/27/2024

The dairy industry in China has grown to become the second largest in the world, presenting a myriad of new opportunities for investors.

China’s New Draft Regulations for After-School Tutoring

02/23/2024

China's Ministry of Education unveiled a new set of draft regulations aimed at reforming the after-school tutoring industry. These regulations clarify various aspects of after-school tutoring, from licensing and scheduling to pricing and penalties.

China’s Gaming Industry: Trends and Regulatory Outlook 2024

02/22/2024

We discuss why China's gaming industry is a global powerhouse despite regulatory interventions, boasting growth in revenue and market share.

HR & Payroll

How to Get a Certificate of No Criminal Record in China - A Guide for Foreign Residents

04/22/2024

We explain how foreign residents can obtain a certificate of no criminal record in China, using the city of Shanghai as an example.

Verification Letter of Invitation Requirement in the China Visa Process: A Brief Guide

04/10/2024

A Verification Letter of Invitation is necessary for certain foreigners applying for M/F visas to China, particularly those from Middle East countries. We discuss who needs to apply, the application process, and the potential risks associated with this document.

China Unveils New Guidelines on Optimized Payment Services for Foreigners: An Overview

03/29/2024

To optimize payment experiences for foreign visitors and businesses in China, the People’s Bank of China has recently released a set of guidelines detailing the payment methods currently accessible to foreign nationals across the mainland.

Navigating Hong Kong’s Annual Employer’s Return: Compliance and Best Practices

03/25/2024

The Annual Employer’s Return filing in Hong Kong begins on the first working day of April and should be completed within one month. Employers are advised to start preparations early and allocate sufficient resources to meet this tight deadline.

Navigating Women’s Employment in China: Recent Advancements and Ongoing Challenges

03/08/2024

China has made strides in facilitating the hiring of more women in the workforce, although gender discrimination challenges persist.

China Expanded Its 15-Day Visa-Free Travel Policy to 6 European Countries Including Switzerland

03/07/2024

China has decided to expand its 15-day visa-free travel policy to six additional European countries on a trial basis, during the period between March 14 and November 30, 2024. 

Technology

China to Relax Foreign Ownership Limits in Value-Added Telecommunication Services

04/18/2024

China has launched a pilot program in specific regions to relax foreign ownership restrictions on certain value-added telecommunication services. The program aims to attract foreign investment and boost market activity.

China's Draft Certification Standards for Cross-Border Personal Information Transfer (Updated)

04/17/2024

China's standards committee has begun soliciting feedback on standards for third-party agencies to certify companies for personal information export.

Cross-Border Data Transfer - New Measures Clarify Security Review Requirements

04/17/2024

China has released long-awaited measures detailing requirements for security assessments for transferring data out of the country.

Standard Contract Measures for Personal Information Export Come into Force June 1, Additional Guidelines Released

04/17/2024

The CAC has adopted measures for the streamlined "Standard Contract" procedure for exporting personal information. Here's how it works.

Shanghai's Lingang New Area Launches First Cross-Border Data Service Center to Facilitate Data Export

04/12/2024

The new cross-border data service center will provide consulting services to companies in Shanghai and facilitate data export.

US-China Relations in the Biden Era: A Timeline

04/08/2024

Timeline tracking key developments affecting US-China bilateral trade and business engagement under the Joe Biden administration.

Our firm Dezan Shira & Associates provides legal, tax and operational advisory across Asia.
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