Business

The comprehensive guide of start business in China 2024 With the development of economic globalization, China has become the world's largest economy. More and more foreign companies have seen China's vast market and good development prospects. (We had explained the specific reasons why foreigners prefer to start business in China, click here to learn more from another article ) More and more foreigners are coming to start business in China. This article will help foreigners who wants to start business in China, involving the market conduction, registration, financial taxation, intellectual property rights and talent recruitment management issues that confuse them. Table of Contents I. Conduct Chinese Market Research A. Overview of the Chinese Market B. Research on Chinese Consumer Demand C. Familiar with Chinese Business Culture II. Select a Location & City to Start Business A. Wholly foreign-owned enterprise (WFOE) B. Joint ventures (JV) C. Representative Office (RO) III. Choose a Company Structure/Type IV. Legal and Policy Guidelines A. How to register your company and apply business license 1. Conditions for foreigners to register a company in China 2. Procedures for foreigners to register a company in China 3. Notes B. How Foreign-invested Enterprises Keep Accounts and File Taxes 1.Accounting 2. Tax reporting 3. Matters needs to pay attention C. Intellectual Property Protection 1. Implement a forward-looking…

Navigating Legal Services in China: Introduction China, with its booming economy and rich cultural tapestry, has become a magnet for expatriates seeking opportunities in everything from business to education. However, the allure of the Middle Kingdom (Zhongguo "中国", China)comes with its own set of challenges, particularly when it comes to navigating the labyrinth of legal services. For foreigners unacquainted with the local legal system, issues such as visa applications, work permits, and taxation can be daunting. This article aims to demystify the process and provide practical advice for seeking legal assistance in China. Navigating Legal Services in China Navigating Legal Services in China: Understanding the Chinese Legal System Before diving into the specifics of obtaining legal services, it's crucial to have a basic understanding of the Chinese legal system. China operates under a civil law system, which means that laws are codified into a referable system which serves as the primary source of law. This is different from common law systems, where case law and judicial precedent play a significant role. Navigating Legal Services in China: Finding Legal Representation The first step in seeking legal services is to find a reputable lawyer or law firm. In China, lawyers are referred…

Introduction: A Comprehensive Guide to Working and Living in China. China, with its booming economy and vibrant culture, has become an attractive destination for individuals seeking professional growth, cultural immersion, and personal development. In this comprehensive guide, we will delve into the reasons why China is an ideal place to work and live, exploring its growing openness, abundant job opportunities, and the benefits it offers to foreign professionals. Get ready to embark on a journey to a land of endless possibilities as we uncover the many facets of China's appeal. Guide to Working and Living in China Guide to Working and Living in China Section 1: China's Growing Openness and Global Integration 1.1 China's Economic Transformation: China has experienced unprecedented economic growth over the past few decades, transforming itself into the world's second-largest economy. This rapid development has been driven by factors such as market reforms, globalization, and technological advancements. As a result, China has become a global economic powerhouse and a hub for innovation and entrepreneurship. 1.2 Embracing Globalization: China's commitment to globalization is evident through initiatives like the Belt and Road Initiative (BRI). The BRI aims to enhance international trade and connectivity by developing infrastructure projects across Asia,…

Zimbabwean girl: Making a difference by drawing on experience gained in China As a concerned citizen of Zimbabwe, the writer wants to contribute to poverty alleviation in her country, using the knowledge that she has gained in China. File picture: Desmond Kwande/AFP Published Mar 29, 2022 Making a difference by drawing on experience gained in China Eliminating poverty is a challenge for all countries. China has made remarkable achievements in poverty alleviation, carrying forward the great tradition of working together and offering mutual support. It has accumulated valuable experience, which belongs to China and the rest of the world, and offers enlightenment to the international community in its battle to reduce poverty. As a foreigner living in China since 2016, I have observed first hand the country’s rapid economic growth, and have learnt a lot about alleviating poverty. Such a programme should be adopted by the world, especially Africa, where many countries are still underdeveloped. Governments need to work together with local people. The development of a country is not the government’s duty alone; it’s also the duty of its citizens. As a concerned citizen of Zimbabwe, I want to contribute to poverty alleviation in my country, using the knowledge that I…

Le Van Quan drives farm equipment made in China in the field. (Photo/Global People) Student sold China machinery. Le Van Quan, a young Vietnamese, has successfully promoted China’s agricultural machinery in Vietnam together with his Chinese business partner, which has helped local farmers with their farm work and won him the Silk Road Friendship Award, an honor that was bestowed by the China International Cultural Exchange Center in 2020. At present, Vietnam Uu Nong Agricultural Machinery Co., Ltd, the company Le works for has a monthly sales volume of over 4,000 sets of equipment, and has reached clients in over 60 provinces and cities in Vietnam.  He made special adjustments to China’s agricultural machinery to better meet the needs of Vietnamese farmers. Besides, he extended after-sales services by three to five years, and responded to clients’ demands in a timely manner. He also promoted the products on social media platforms, introducing the equipment with short videos and sharing information about assembling, maintaining and repairing the equipment, which has greatly increased the profile of China’s agricultural machinery in Vietnam. Thanks to the online platforms, the business of the company flourished despite the pandemic, with some equipment having even been sold out. …

https://youtu.be/0i-LIkN4dY4 Qianhai, which now covers 120.6 square kilometers, has become a new hotspot for global investors with new opportunities arising from the new development plan released by the Central Authority two months ago, it was learnt at the Qianhai Investment Promotion Conference held today.

KAZAKHSTAN lawyer Kumbayeva Aigerim said she was deeply impressed by Qianhai business environment while she was explaining business registration policies to her foreign clients in 2017, adding that with the issuance of Qianhai’s new development plan, there is no doubt this will continue to improve. Aigerim has been living in China for 10 years, and she started working in Shenzhen at the Sincere Qianhai Law Offices in 2015. “We like Qianhai business environment” “We had two clients from Russia and Ukraine who came to our law offices for consultation on establishing their businesses in Qianhai. My Chinese colleagues and I worked on researching the policies and answering their inquiries in two languages. I found out that it’s faster and easier for businesses to register and get established in Qianhai than other places. In addition, there’s zero value added tax treatment for companies engaged in some specific industries. So, there are more opportunities and preferences for those industries in Qianhai,” she said. Currently, Aigerim’s law firm is organizing all its staff to study the new Qianhai development plan. “When I read the key points and highlights of this new plan, I think this is a great opportunity for cross-border legal services.…

https://youtu.be/fOVkjXQ2_sw   Raj Oswal, Silicon Valley entrepreneur in Shenzhen Here is the introduction of Raj Oswal, a Silicon Valley entrepreneur.   A STROLL in places like Shekou Net Valley, one of Shenzhen’s many industrial parks incubating high-tech startups, often gives a glimpse into the hottest tech trends. It may also lead to an informative talk with an aspiring entrepreneur like Raj Oswal. 坐落在前海蛇口自贸区内的蛇口网谷，是深圳众多的科技产业基地之一。来这里转一转，可以让人迅速了解科技发展的新趋势，幸运的话，还可以遇到老罗这样的外国创业者，听他谈谈科技、聊聊梦想。 Resume of Raj Oswal, a Silicon Valley entrepreneur Sent to Shenzhen in April 2019 by Gupshup, a Silicon Valley entrepreneur, a San Francisco-headquartered company, the Californian with a 25-year expertise in go-to-market initiatives for disruptive technologies has been on a mission to explore the Chinese market for the U.S. business messaging disruptor. 2019年4月份从美国加州来到深圳的老罗，是一位有着25年破坏性技术从业经验的资深科技人。当时他被东家Gupshup派到深圳来开拓中国市场，寻找会话式消息传递领域的潜在用户。   Raj Oswal poses for a photo with his dog at the doorstep of his own company — Interface (Shenzhen) Technology Co. in the Shekou Net Valley area in Nanshan District. Photos by Liu Minxia After making successful inroads into the local market and building relationships with mobile phone giants like Xiaomi Corp., which had a part in helping Gupshup raise an additional US$240 million in its Series F financing round in July, Raj (he prefers to go by his first name) has recently…

Investment promotion refers a series of activities that governments adopt to attract foreign direct investment.Investment promotion includes the following specific types of activities: advertising, direct mail, investment seminars, investment group, participating in the industry fair and exhibition, distributing materials, one-to-one direct marketing, preparing agenda for potential investors, facilitate interaction between potential investors and local partners, acquiring licenses and approval documents from the various government agencies, preparing project proposals, conducting feasibility study, and providing services to investors after the project begins to operate and so on.Investment promotion does not include offering incentives to foreign investors, screening foreign investment or negotiating with foreign investors, although many organizations that are responsible for carrying out investment promotion activities also carry out these kinds of activities.

The VAT Administration Information System is a circular system composed of six subsystems, which are anti-counterfeiting control invoicing, authentication, filing, crosschecking, verification and cooperative investigation respectively, forming a closed-loop control of VAT special invoices. The system has helped enhance the VAT administration efficiency, improved the quality of taxpayer service, reduced the cost of collection, and prevented tax losses, ensuring steady growth of VAT revenues. It has also contributed significantly to the goals of building a level playing field and maintaining steady growth of tax revenues in China. The VAT Administration Information System consists of six sub-systems: The anti-counterfeiting invoicing sub-system. It employs the numerical code and electronic information storage techniques to increase the system's capability to detect false VAT invoices. It helps tax administrations to obtain a correct understanding of the seller's invoicing information, so that tax revenues are monitored and controlled at source. The anti-counterfeiting authentication sub-system. It scans, deciphers and compares the ciphered and plain text images on VAT invoices to authenticate the invoice. The data are then fed into the cross-checking sub-system or the invoice cooperative investigation sub-system. The anti-counterfeiting filing sub-system. It reviews the invoice information submitted by taxpayers and feeds it into the cross-checking sub-system.…

Documents required for registration of foreign-funded companies: 1. Registration application form for companies; 2. Branch company’s application for joining the group; 3. Articles of association of the enterprise group; 4. Certificate of being qualified as a legal person of the new member of the enterprise group; 5. Parent company’s shareholding certificate or investment certificate issued by the member enterprise of the group; 6. Approval document issued by the relevant authority; 7. Other documents. Documents and certificates required for business opening registration for foreign (Area) enterprises engaged in production and operating activities within the territory of China: 1. Application for business opening registration for foreign (area) enterprise engaged in production and operating activities within the territory of China; 2. Project contract; 3. Approval documents or testimonial of the examination and approval authority; 4. Legal business opening certificate of foreign (area) enterprise; 5. Credit certificate of foreign (area) enterprise; 6. Letter of appointment of principal signed by the president or general manager of foreign (area) enterprise; 7. Capital verification report; 8. Articles of association of the foreign (area) enterprise and list of members of its Board of Directors; 9. Operation site (address) using certificate; 10. Other related documents and certificates. Documents for…

Law of the People's Republic of China on PartnershipsOrder of the People’s Republic of China No.55The Law of the People’s Republic of China on Partnerships, amended and adopted at the 23rd Meeting of the Standing Committee of the Tenth National People’s Congress of the People’s Republic of China on August 27, 2006, is hereby promulgated and shall go into effect as of June 1, 2007.Hu JintaoPresident of the People’s Republic of ChinaAugust 27, 2006 Law of the People’s Republic of China on Partnerships (Adopted at the 24th Meeting of the Standing Committee of the Eighth National People’s Congress on February 23, 1997 and amended at the 23rd Meeting of the Standing Committee of the Tenth National People’s Congress on August 27, 2006) Contents Chapter I General Provisions Chapter II General Partnerships Section 1 Establishment of a PartnershipSection 2 Property of a PartnershipSection 3 Management of Partnership AffairsSection 4 Relationship of a Partnership to a Third PartySection 5 Entering into and Retiring from a PartnershipSection 6 Specialized General Partnerships Chapter III Limited Liability Partnerships Chapter IV Dissolution and Liquidation of a Partnership Chapter V Legal Liability Chapter VI Supplementary Provisions Chapter I General Provisions Article 1 This Law is enacted in…

Read on to discover the 9 steps to start a business in China as a foreigner, from picking a location, to hiring your first employees.

foreigners to register companies in China Different cities have different registration policies. Here we take Shenzhen as an example to introduce how do foreigners to register companies in China year 2021. In order to expand international economic cooperation and technological exchanges, the People's Republic of China allows foreign companies, enterprises and other economic organizations or individuals, on the principle of equality and mutual benefit and with the approval of the Chinese government, to jointly establish joint ventures with Chinese companies, enterprises or other economic organizations in China, also known as foreign-funded companies. There are three forms of establishment: 1. Sino foreign joint ventures. 2. Sino foreign cooperation. 3. Wholly foreign-owned enterprises. In Shenzhen, it is popular to register foreign-funded companies, but few knows it. Let's learn how to register foreign-funded companies. Preparation for foreigners to register companies in China: 1. When registering a foreign-funded company in Shenzhen, the identity certificate of the shareholder shall be submitted, the notarized legal business certificate shall be submitted by the foreign enterprise, and the notarized passport shall be submitted by the foreign individual. 2. if a foreign company is to set up a board of supervisors, it needs three members. If it does not…

Afghan graduate starts business in China