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Economy & Trade

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 Reopening After COVID: Latest Developments and Business Advisory

03/19/2024

Our daily updates on the latest events as they occur, together with ongoing advisory on how best to manage your China business exposure during COVID-19.

China’s Foreign Minister Wang Yi to Visit Australia for Trade and Technology Talks

03/15/2024

Chinese Foreign Minister Wang Yi is expected to visit Australia in late March, which will boost trade diplomacy between the two nations.

China 2023 Economic Growth Breakdown – GDP Statistics and Targets by Province

03/12/2024

China’s mainland provinces have released their GDP growth targets for 2024, most of which exceed five percent, alongside their GDP data and economic performance assessment for 2023.

US-China Relations in the Biden Era: A Timeline

03/12/2024

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

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. 

Tax & Accounting

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.

Hong Kong Budget 2024-2025 - Government Implements New Tax Arrangements and Extends Funding Schemes

03/01/2024

The 2024-25 Hong Kong Budget introduces new tax arrangements to raise public funds and extends support policies for companies and individuals.

Hong Kong Removed from EU Watchlist Following Changes to Regulations on Foreign-Sourced Income

02/26/2024

Under new rules on foreign-sourced income exemption, MNEs that don't meet certain substance requirements may be taxed on some types of income derived overseas.

China Annual IIT Reconciliation in 2024: Everything You Need to Know

02/21/2024

Annual IIT reconciliation for the year 2023 will start soon. Taxpayers who need to make the final tax settlement between March 1 to March 20 need to make an appointment starting from February 21, 2024.

China Extends 15% CIT Rate to Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone

02/12/2024

Certain businesses in Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone (HTCZ) will qualify for a 15 percent corporate income tax (CIT) rate. We discuss the eligibility criteria and explain China's preferential CIT policy.

China Monthly Tax Brief: January 2024

02/09/2024

In this monthly China tax brief, we highlight January 2024 policies and measures announced for supporting businesses, expanding market access, facilitating cross-border tax payment and refund, and increasing tax certainties.

Legal & Regulatory

How to Conduct a Personal Information Protection Impact Assessment in China

03/19/2024

Companies in China must conduct a personal information protection impact assessment to handle certain types of data and carry out certain transactions.

China's Stock Exchanges Announce ESG Reporting Guidelines for Listed Companies

03/18/2024

China's three stock exchanges have respectively issued their ESG reporting guidelines for certain types of listed companies starting 2026. We provide the details.

China’s 2024 Revision to M&A Regulations: New Filing Thresholds

03/14/2024

We discuss China's new rules regarding merger filing thresholds, including reduced turnover criteria and roll-back of the 'killer acquisition' clause. However, companies opting for M&A in China and falling below the turnover thresholds must still assess whether their deal could potentially harm competition in their sector as that evaluation would trigger an SAMR investigation.

Shanghai Seeks to Simplify Business Deregistration Procedures

03/11/2024

New efforts to reform company deregistration procedures in Shanghai seek to facilitate market exit and improve the ease of doing business in the city.

China’s “24 Measures” to Attract Foreign Investment: Progress Report

03/04/2024

Six months after China announced 24 measures to optimize the foreign investment environment in the country, we discuss the progress made.

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.

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

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. 

China's Visa-Free Policies: Latest Updates

03/07/2024

With borders open again, we look at all of the China visa-free policies that are currently in place and clarify who is eligible to benefit from them.

A Guide to Minimum Wages in China (Last Updated on February 19, 2024)

02/19/2024

Coming into 2024, Henan, Jiangsu, and Zhejiang, Hubei, Ningxia, Jiangxi, and Liaoning has released their new minimum standards.

2024 Guidelines for Foreigners to Live and Work in China

02/06/2024

The updated guidelines released by China’s Ministry of Commerce outline essential procedures and considerations for foreign businesspersons living and working in China, covering accommodations, visas, work permits, and emergency protocols.

Preparing for the Year of the Dragon: HR Strategies and Travel Trends During Chinese New Year 2024

02/01/2024

From arranging additional leave to issuing annual bonuses, here's how HR teams can prepare for the eight-day Chinese New Year holiday.

Technology

How to Conduct a Personal Information Protection Impact Assessment in China

03/19/2024

Companies in China must conduct a personal information protection impact assessment to handle certain types of data and carry out certain transactions.

US-China Relations in the Biden Era: A Timeline

03/12/2024

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

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.

How to Legally Handle Sensitive Personal Information in China

02/16/2024

Companies collecting, processing, and transferring sensitive personal information in China must comply with strict requirements for user consent and data protection.

Shanghai’s Lingang New Area to Trial Measures to Facilitate Cross-Border Data Transfer

01/29/2024

Lingang New Area in Shanghai will trial measures to facilitate data export, improving the business environment for companies in the area.

New Standard Contract Guidelines Streamline Cross-Border Personal Information Transfer in the GBA

01/12/2024

New guidelines allow companies to sign standard contracts to transfer personal information between Hong Kong and the Chinese mainland.

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