Insights

The New Edition of the Negative List for Foreign Investment Admission Released! Effective from November 1, 2024

In September 2024, the National Development and Reform Commission and the Ministry of Commerce issued the “Special Administrative Measures for Foreign Investment Access (Negative List) (2024 Edition),” announcing that it will officially take effect on November 1, 2024. This new version of the negative list marks China’s complete opening of foreign investment access in the manufacturing sector, sending a strong signal of China’s continued expansion of its openness to the world. Background of the Issuance and Its Significance The 2024 ...

Guide for Foreign Personnel on Applying for Accommodation Registration in China

What are the regulations for foreign personnel regarding accommodation registration? As stated in Article 39 of the “Exit and Entry Administration Law of the People’s Republic of China,” foreign nationals staying in hotels within China must have their lodging registered by the hotel following public security guidelines. The hotel is obligated to submit the accommodation registration details of foreign guests to the local public security authorities where the hotel is located. Foreign nationals who live or stay in private residences ...

How China’s Updated Customs Duty Regulations Could Impact Your Business

China’s General Administration of Customs (GAC) has recently unveiled significant revisions to the “Administrative Measures for the Levying of Duties on Imported and Exported Goods” and has initiated a public consultation on these proposed changes. This development marks an essential milestone in the evolution of China’s regulatory landscape for international trade, underscoring the nation’s ongoing commitment to refining its customs framework while enhancing operational efficiency in global commerce. The “Administrative Measures for the Levying of Duties on Imported and Exported ...

Made in China 2025: Opportunities & Challenges for Foreign Businesses

The “Made in China 2025” initiative was launched by the Chinese government in 2015, aims to transform China from a manufacturing giant into a global leader in high-tech industries. The ambitious plan has significant implications for foreign businesses operating within or in collaboration with China. The “Made in China 2025” (MIC 2025) strategy is a state-led industrial policy aimed at closing the gap between China and its global competitors in key sectors. These sectors include advanced information technology, robotics, aerospace, ...

China Eases Cross-Border Data Transfer Regulations

In a significant move towards streamlining cross-border data transfer, China’s cybersecurity regulator has recently adopted new regulations aimed at easing compliance requirements for companies handling personal information. The new measures, which were announced on March 22, 2024, introduce higher thresholds for the volume of personal data that can be transferred without the need for a standard contract with the overseas recipient. Additionally, the regulations outline specific scenarios in which companies may be exempted from undergoing a security review. Understanding the ...

Registered Capital Requirements for Wholly Foreign-Owned Enterprises (WFOEs) in China

Deciding on the appropriate level of registered capital is crucial for Foreign Invested Enterprises (FIEs) to ensure long-term viability, particularly during the initial phases of operation. This article explains the prerequisites regarding registered capital when establishing a WFOE in China, as well as the procedures for modifying the capital amount as necessary. Definition of Registered Capital: The registered capital of a company refers to the total equity or capital contributions that shareholders commit to paying for the set up of ...

Transferring WFOE Funds Outside of China

It can be a challenging task for foreign companies operating in China regarding profit repatriation. Essentially, that means that you might have trouble getting your profits out of China. This is largely due to strict policies and regulations on cross-border money transactions. You are only allowed profit repatriation one time per annum, and that’s only available after the yearly tax compliance and financial audits have been completed. It’s common for the authorities to limit the amount of profit that can ...

China Manufacturing Tax Incentives for 2024

China’s Ministry of Finance (MOF) and State Tax Administration (STA) have issued comprehensive guidelines detailing the primary tax and fee benefits available to the manufacturing sector. These guidelines bring together the key preferential policies currently in effect, providing a clear overview of the benefits that manufacturers can access. To utilize these incentives, businesses must meet specific requirements and adhere to application procedures set by the government. VAT Credit Refund Policy for Manufacturing and Other Industries China offers a valuable VAT ...

China Visa-Free Travel Policies for Foreign Visitors

China’s visa-free travel policies have relaxed for short-term travelers visiting for business, tourism and quick layovers, understanding these policies can save you time and hassle. This guide will walk you through everything you need to know about traveling to China without a visa, ensuring your trip goes smoothly. China now offers several visa-free policies designed to accommodate different types of travelers. These include the 72-hour and 144-hour visa-free transit policies, the Hainan 30-day visa-free policy, and special provisions for cruise ...

China Healthcare Market Entry Strategies & Considerations

Navigating the regulatory landscape in China can be complex, but it’s crucial. The National Medical Products Administration (NMPA) plays a significant role in overseeing the approval and regulation of healthcare products. For foreign companies, understanding the key regulatory requirements is essential. Recent changes, such as the implementation of the Drug Administration Law, have made the landscape even more intricate, emphasizing the importance of compliance and thorough preparation. Market Entry Strategies When it comes to entering the Chinese healthcare market, there ...

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