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Asia Briefing - China
Asia Briefing is a publisher of business magazines and books about doing business in India, China, Hong Kong and Vietnam. Our publications are contributed to by the business advisors at Dezan Shira & Associates.
With the global economic crisis still affecting businesses in China, executives must be aware of their responsibilities when having to liquidate a business on the mainland. Overseas companies may be impacted by external circumstances beyond their control and have to close their China-based representative offices as a result of a situation with their parent company.
- Pre and Post-Incorporation Registration Procedures -
In this issue of China Briefing, we look at the important pre and post-registration procedures foreign investors need to be aware of when setting up in China. When establishing a company in China, careful planning must be done prior to incorporation to fully prepare for the financial and tax implications of the business. If not included, the business can be inefficient from its birth. Attention to detail also needs to be put in once the business license has been issued, there is still quite a bit of work to do for a business to be completely legal and functional. From opening a bank account to registering the new company with Customs and the State Administration of Foreign Exchange, injecting capital, and obtaining a capital verification report, there are vital steps in the establishment process that every investor should be aware of. Failure to correctly follow through on these procedures can lead a company to non-compliance and government penalties.
We also include post-registration procedure workflow charts for representative offices, foreign-invested enterprises and foreign-invested manufacturing enterprises.....More
- Opportunities in China’s Emerging Industries -
With foreign direct investment again on the rise in China - FDI increased by 7.7 percent to 23.44 billion in the first quarter of this year - and China looking to modify its catalogue for foreign investment, we use this issue of China Briefing to examine some of the markets where the opportunities for FDI are increasing. We begin by looking at the automotive industry in China, now the world's largest market. We also look at the growing investment in clean technologies, a sector where China ranks number one in spending, having dedicated US$34.6 billion to clean energy projects in 2009. We finish our look at emerging sectors by focusing on logistics, specifically cold chain logistics. China's cold chain market remains seriously underdeveloped and modernization of the industry could save an estimated US$160 billion in costs.....More
- RO vs. FICE: Determining Which Structure is Right for You -
In this issue of China Briefing we take a look at the difference between the representative office and the foreign-invested commercial enterprise. The representative office has long been the vehicle that foreign investors have used to get their feet wet in China, acting as a bridge to a company in the home country. But with China increasingly regulating representative offices, it may now be time to turn to the foreign-invested commercial enterprise as a viable alternative, especially if the ultimate goal of investing in China involves trade. We explore the legal and tax issues at hand with ROs and FICEs, look at the recently released tax regulations for representative offices and examine the three steps to a FICE application.....More
- Operational Due Diligence: Kicking Your China Business’s Tires -
In this issue of China Briefing we a look at operational due diligence and compliance issues that should be taken into account when "kicking the tires" of a China business. This includes operational issues like examining organizational structures, risk assessments, key operational functions, external relationships, competitors, environmental considerations and corporate secretarial responsibilities. It also involves financial issues including assessing financial statements and audit, taxes and tax filing, financial reporting and depreciation of assets. We conclude our look at operational due diligence by reviewing some human resources concerns including key employment issues and social security benefits that companies in China may face.
In additional to operational due diligence issues, we investigate China's new transfer pricing documentation requirements and look at what records companies will need to have compiled by May 31. With an increased burden on compliance and stricter penalties in place, it is important that enterprises involved in transfer pricing properly maintain their documentation and keep themselves completely updated on all tax requirements.....More
- Closing Down Representative Offices and Liquidating Businesses in China -
With the global economic crisis still affecting businesses in China, executives must be aware of their responsibilities when having to liquidate a business on the mainland. Overseas companies may be impacted by external circumstances beyond their control and have to close their China-based representative offices as a result of a situation with their parent company.....More
- Preparing for Annual Audits in China -
It's annual audit season in China, a time when companies take stock of their business on the mainland, prepare annual corporate income tax filings, and review any outstanding issues that may affect the coming year. It is also a good time to review the company business license; something that all China-based businesses must do every year. In this issue of China Briefing we take a look at some of the more pertinent aspects of China's audit regulations, examine some corporate tax considerations to take into account when filing CIT returns, and review the preparation procedure for an annual business license review. We also run through some of the salient individual income tax issues for expatriates living and working in China.....More
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China Briefing News
Severance Pay Subject to Individual Income Tax in China- Fri, 18 May 2012 11:00:32 +0000
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U.S. Eases Financial Sanctions on Myanmar- Fri, 18 May 2012 10:28:34 +0000
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Obtaining a Z Visa, Work Permit and Residence Permit in China- Thu, 17 May 2012 11:38:14 +0000
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China Releases 12th Five-Year Plan for Oceanic Affairs- Wed, 16 May 2012 08:45:42 +0000
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Chinese Outward Foreign Investments in Europe- Tue, 15 May 2012 22:38:04 +0000
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China Orders ?Big Four? Auditors to Restructure- Tue, 15 May 2012 06:53:12 +0000
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China-Japan-South Korea Sign Trilateral Agreement and Launch FTA Talks- Mon, 14 May 2012 11:16:20 +0000
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China?s PBC to Cut Reserve Rate Requirement by 0.5 Percentage Points- Mon, 14 May 2012 08:27:45 +0000
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China FICE vs. Manufacturing WFOE- Fri, 11 May 2012 09:23:53 +0000
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Getting Money Out of China: Macau Casinos, Xinjiang Jade and French Wines?- Fri, 11 May 2012 04:48:32 +0000
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