What to Expect From China in 2023
Globally 2022 has been a difficult economic period to navigate with so many headwinds prevailing. China had additional restrictions to manage with the implementation of its zero-Covid policies. Businesses became even more risk averse, most opting for a cash conservation approach to preserve much needed liquidity. Covid policies impacted staff, supply chains, logistics, manufacturing, productivity and […]
Tax Rate in China
In accordance with Chinese tax legislation, every company operating a subsidiary in the country is obligated to fulfill monthly tax filings and other related requirements. Compliance with local standards for tax legislation is imperative to maintaining control and minimizing risk for your business in China. This article will go over the primary types of applicable […]
Imports and Exports in China
Total imports in China contributed approximately 15.2% to overall GDP in 2021, with even greater export contributions, amounting to roughly 676.7 billion U.S. dollars. As the world’s largest trader of goods, China has experienced a steady development of its imports throughout the decade following 2013, when it overcame the United States in total trade volume. […]
ERP Systems in China
If you work in finance, accounting or in the business arena in general you may have come across the term ERP, but what does it actually mean? ERP systems are growing in popularity as they offer many benefits compared to more traditional methods of managing data. In China, more foreign business managers are looking into […]
Challenges of Doing Business in China
Planning to invest in or open a business in China? Here are some of the challenges to expect when doing business in the Chinese market in 2023. How Easy Is It to Do Business in China? Despite the challenges posed by COVID, for a long time China managed to maintain the strength of its economy […]
Business Culture in China
When establishing a business in China, understanding the workplace culture and norms observed in the country is just as important as knowing the administrative procedures of starting a company. While there are some similarities between Western and Chinese working cultures, there are many differences that you need to be aware of to make sure you […]
Decoupling from China
Since 2020 the landscape for business globally has been redefined. Weaknesses on a global level have been exposed, from failures on the governance front to frailties in supply chains and human resource practices that needed to be adjusted. It has also provided a strong contrast in examples of what constitutes great partnerships, whether it be […]
Electronic Chop in China
Company chops are an essential part to the handling documents and managing internal and external affairs when doing business in China. In recent year, a digital equivalent of the standard stamp has been widely adopted in China. This article will discuss company chops in detail with regards to their applications, and types, focusing more specifically […]
Our Managing Partner: Raoul Schweicher’s 2022 Outlook on Business in China
Our managing partner Raoul Schweicher takes a look back on China’s economic development in 2021 and shares his insights on the 2022 outlook for China. He looks at the challenges faced, opportunitues for growth and what businesses in China can expect in 2022.
The Chinese Accounting Standards: A Comparison between Chinese GAAP and IFRS
This article highlights the difference between IFRS and Chinese GAAP and how this may cause difficulties for foreign-invested companies in China.
