An Introduction to Doing Business in China 2021 - Preview

6 AN INTRODUCTION TO DOING BUSINESS IN CHINA 2021 Other taxes 51 What are some of the key compliance requirements? 56 Accounting and bookkeeping 56 Annual compliance 56 Due diligence 62 Internal control and audit 63 Transfer pricing 64 Part 3 | Human Resources and Payroll 66 How do I hire employees? 68 Direct hiring 68 Dispatch 70 Outsourcing 70 How do I manage foreign employees 72 Unified work permit system and tiered talents system 72 China’s visa system 73 Residence permit 74 What obligations do I have as an employer? 75 Minimum wages across China 75 Overtime 75 Social security 76 Termination 78