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Shanghai aims to become a leading international financial center
Shanghai’s ambitions to become one of the world’s leading financial centers have been evident for a while. During the past two decades,...


After much uncertainty, Hong Kong is open for business and ready to thrive
After two years of setbacks and uncertainty due to protests and the COVID-19 pandemic, Hong Kong is open for business and stronger than...


Takedown actions can help companies fight against counterfeiting in China
The growing number of internet shoppers in China represents a business opportunity too good to pass for international companies. However,...


Foreign investors see opportunities in 2021 negative list for market access
China's top economic regulator, the National Development and Reform Commission (NDRC), recently published the latest version of the...


China reduces import-export tariffs to create opportunities and facilitate trade
In an effort to create greater opportunities for foreign investment and facilitate cross-border trade, the Chinese Ministry of Finance...


2021 China Individual Income Tax must be settled before June 30th, 2022
Between March 1st and June 30th, 2022, individual taxpayers who were residents in China in 2021 are required to handle the Individual...


China extends tax-exempt benefits for foreigners working in the country
The Chinese Ministry of Finance announced that it will extend preferential income tax policies for foreigners residing in the country to...


Foreign businesses in China must present audit of financial statements by May 31
For foreign companies with a presence in China, the beginning of a new year can be rather stressful. As required by Chinese regulations,...


2021 proves outstanding for China, 2022 will focus on stability and prudence
Despite the negative economic impact of the COVID pandemic worldwide, China registered an outstanding year in 2021. While the country’s...


China encourages technology and innovation through tax incentives
In order to achieve its ambition of becoming a leading economic power in the world, China has identified High and New Technology...


When can foreign companies distribute profits in China?
Companies with a profitable business in China will want at some point to repatriate profits. However, dividends can be distributed among...


Data Security Law works with Cybersecurity Law to expand protection on data Pt 1
China’s fast growing digital economy is behind a series of new regulations aimed to protect personal information and prevent businesses...


China plans to revise and update its Company Law
Since its latest update in 2018, the China’s Company Law is scheduled to be re-evaluated this year. The revised draft, which includes 260...


China reinforces personal liability of business executives
China’s economic growth and its increased tendency to use technology, have pushed local authorities to review and update laws to be able...


China pushes innovation and development in biotech industry
In the past three decades, the number of biotech companies in China more than tripled, while the country’s economic growth has turned it...


Changes in the new Urban Maintenance and Construction Tax Law (UMCT)
Effective September 1, 2021, the new Urban Maintenance and Construction Tax Law (UMCT), as well as three supporting regulations,...


COVID travel restrictions ease for foreigners coming to China
With over one billion people vaccinated, life is slowly returning to normal in China. Though foreign travel to China has been discouraged...


Personal Information Protection Law will have big impact on business in China
The Personal Information Protection Law (PIPL), along with the Data Security Law and the Cybersecurity Law, will have a significant...


China simplifies filing for outbound remittances, cancels Local Tax Surcharges on top of VAT and CT
Foreign investors in China are no longer required to present a separate tax record filing for each outbound remittance as long as they...


Shanghai cancels assessment method for corporate income tax
The long-standing ‘levying upon assessment’ method for corporate income tax (CIT) was cancelled by the Shanghai tax bureau, after months...
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