China ESG: All You Need to Know
Environmental, social, and governance (ESG) initiatives have become vital benchmarks for investment and corporate performance worldwide, with China making significant strides to align its ESG reporting with global practices. As the second-largest economy with a rapidly expanding market, China’s approach to ESG reporting bears considerable weight on its domestic economic landscape and international investment flows. […]
Working Hours in China
Working hours in China have been defined by a framework that aims to balance the demands of the country’s burgeoning economy with the need for workers’ well-being. The standard workhour system establishes a typical workweek as eight hours per day and 40 hours per week. The People’s Republic of China Labor Law mandates this rhythm […]
Chinese Currency (RMB): Understanding the Renminbi
The Chinese currency, known as the renminbi, is the legal tender in the People’s Republic of China. ‘renminbi’ translates to ‘people’s currency’ and is abbreviated as RMB, with the symbol ¥ and the ISO code CNY. The currency is managed by the People’s Bank of China, the country’s central bank, and has undergone significant reform […]
Minimum Monthly and Hourly Wage in China for 2024
Minimum wage policies in China are pivotal in ensuring a baseline standard of living for workers across its vast and economically diverse regions. With each province and city setting its minimum wage levels, the regional cost of living, economic development, and labor market conditions are reflected within these thresholds. As China continues to evolve economically, […]
Permanent Establishment China
The Permanent Establishment (PE) is frequently used in double taxation avoidance agreements (DTAs). When a PE is constituted, China levies taxes over service fee payments between a foreign company and a local entity.
Set up a Representative Office in China
Navigating the complexities of doing business in China can be challenging, especially when deciding on the optimal market entry vehicle. This decision holds significant weight for foreign businesses seeking entry into the Chinese market. One of the primary investment vehicles employed by foreign businesses for entering China is the representative office. While not formally acknowledged […]
How to Exit the Chinese market? 3 Business Exit Strategies
To provide a better understanding on how to exit the Chinese market and which options are available to foreign invested enterprises in China, we have prepared an overview of 3 separate ways to exit the Chinese market.
China Quarterly Economic Data Q4 2023
As reported by Chinese Premier Li Qiang during the World Economic Forum, China’s economy demonstrated robust growth, surpassing the government’s initial target of 5% and achieving a notable 5.2% expansion. The growth rate not only exceeded the economic performance in 2022, where the economy only achieved a modest growth rate of 2.9%, primarily due to […]
Considerations for Businesses in China in 2024
China’s economy has been a cause of significant speculation throughout the latter half of 2023, marked by a decline in FDI but still able to achieve a strong 5.2% GDP growth. Experts seem uncertain whether it is a good time to invest in China or not, however the prevailing narrative may not entirely reflect what […]
Articles of Association for Companies in China
Setting up a company in China involves navigating various legal processes and requirements, and one critical document in this process is the Articles of Association (AoA). The AoA serves as the framework and foundation upon which a company operates and is a vital element for any business entity in China. There are specific requirements that […]
