Company Chops in China
Within China you need to use the official company chop to validate documents and operate a business. This article summarizes all you need to know about chops.
China Quarterly Results Q3 2023
The National Bureau of Statistics of China has recently unveiled the statistics for the third quarter, revealing a growth rate that surpasses initial projections. Notably, China’s economy exhibited a commendable 4.9% expansion over the preceding quarter, marking a significant stride towards achieving the targeted 5% growth for the fiscal year 2023. This robust quarter-on-quarter growth […]
Cloud Accounting in China
With more services being streamlined, accounting has been no exception and with cloud accounting business owners, shareholders and managers are able to easily access and plan their company’s finances. Foreign companies using cloud accounting in China have overall experienced a large positive impact. Below we explore the benefits of cloud accounting, the challenges unique to […]
Accounting Automation
Most business owners are taking full advantage of automation capabilities, with advancements in the accounting industry being no exception. From quicker payment processing times to up-to-date accounting reports, tasks that were time consuming and considered complex can now be done in a matter of minutes. Implementing automation technologies alongside your accounting practices can free up […]
Taxes on Dividends China
China’s Corporate Income Tax Law regulates taxation for both local and foreign-owned companies. Foreign companies are taxed based on their Chinese-source income, and there is a withholding tax for dividends, royalties, and interests. To repatriate dividends from China, companies must follow the Chinese regulations for foreign exchange control. What is Dividend Withholding Tax in China? […]
Big 4 Accounting Firm Fined in China
China aims to strengthen regulations in the certified public accounting sector, this is according to statements made by China’s Deputy Finance Minister Zhu Zhongming. This happens shortly after state firms in China were encouraged to not continue their contracts with the Big 4 Accounting firms and work with medium-sized and local Chinese auditors instead. According […]
Intellectual Property in China
In recent years, China has taken many steps to become a more favorable landscape for global businesses to thrive. In fact, in 2019, it was named one of the world’s “Top 10 Most Improved Economies for Ease of Doing Business” by the World Bank. With a bustling economy, a growing middle class, and a culture […]
Chinese Consumers 2023
With the years of the restrictions now in the rear-view mirror, China’s re-opening has been a welcomed relief for both China based businesses as well as global markets. Moreover, for both foreign and local enterprises this means more stimulation within the Chinese economy for 2023 and growth prospects for their operations. However, through the duration […]
2023 Sino Benelux Business Survey
Taking stock of Business in China over the past year has been a challenge for most businesses. We need not mention the impact of the restrictions and lockdowns felt across multiple sectors, which had a ripple effect on the global economy. With the zero-Covid policy coming to an end in China, businesses have an optimistic […]
Encouraged Industries for Foreign Investment China
China is maximizing its efforts to accelerate the opening of its economy by enabling more opportunities for foreign companies to invest. In 2019, authorities released the Catalogue of Industries for Encouraged Foreign Investment, which consists of more than 1,400 items which detail the types of investments and industries that can benefit from the country’s improved […]
