Closing a company in China is not always easy and the reasons for the closure are often different. A crucial factor for a swift cancellation is ensuring the compliance of one’s entity during the cancellation process. Although tempting, it not advised to ‘walk away’...
During the second day of the Chinese Two Sessions 2020, Premier Li Keqiang delivered the government work report. This document highlights the progress of China and the Party over the 2019 year and the first few months of 2020. In his speech, he effectively outlines...
Throughout the past few years, there has been a lot of news about China's Social Credit System (SCS). The SCS is planned to be fully implemented by the end of 2020. Through the system, people will be given credibility scores based on their credit behavior and...
China’s Five-Year Plans are a series of five-year national development agendas focused on social and economic development. The first five-year plan was issued in 1953 during the regime of Chairman Mao Zedong and was influenced by the five-year plans of the Soviet...
As a part of China’s comprehensive Foreign Investment Law, China announced that it would begin releasing a new Negative List each year that would revise previous restrictions and gradually remove restrictions placed on foreign companies in China. These remarks were...
This article has been prepared by our partners from MS AdvisoryIn 2019 China has announced several VAT reforms. First of all, the Chinese government has significantly reduced VAT. Furthermore, China has also increased the VAT exemption thresholds for small-scale...
