Our collection of resources based on what we have learned on the ground
Resources
Q&A
What regulations or conditions do Chinese employers face when their employees ar...
- May 2015
- Free Access
In addition to the compensation that the employee is entitled to under the Work-related Injury Insurance scheme, the employer will also be responsible for damages in a work-related accident. Any exoneration clauses that free employers from liabilitie...
Q&A
What are the differences between the Chinese Accounting Standard (CAS) and the I...
- May 2015
- Free Access
Despite the ongoing convergence towards international standards, one must be aware of the following differences: Choosing a valuation method; China Accounting Standards (CAS) only allows fixed assets to be valued according to their historical cost...
Q&A
What are the expectations for the Generally Accepted Accounting Practices (GAAP)...
- May 2015
- Free Access
The 2014 Generally Accepted Accounting Practices (GAAP) is expected to be adopted by all medium and large-sized enterprises across Mainland China. The new PRC GAAP consists of: One basic standard providing guidance on practical issues 41 specific...
Q&A
What is 'mapping' in China?
- May 2015
- Free Access
As foreign companies follow different standards, the information from the Chinese subsidiary must be translated to fit into overseas parent company books. This procedure is known as mapping. There are two points to consider: 1. The divergence of Ch...
Q&A
How is accounting currency determined in China?
- May 2015
- Free Access
When a company chiefly does business in non-local currency, it then may choose the currency in which to conduct its accounting. When choosing currency, the company must consider the following factors: If the currency influences the sales pri...
Q&A
What procedures must be considered for before repatriating profits in China?
- May 2015
- Free Access
The remitting of profits does not need prior approval from the State Administrative of Foreign Exchange (SAFE). However it must show that all income taxes have been paid. The investor must present the following documents to the bank in order to prove...
Q&A
What are the variations in employment probation across China, India and Vietnam ...
- April 2015
- Free Access
In China the length of the probation period is affected by the employee’s contract terms and can be as long as 6 months. During the probation period the employer is obligated to pay the employee 80% of the full salary of their employment cont...
Q&A
What are the different Chinese Long-term employment visas ?
- April 2015
- Free Access
The Z visa is used by foreigners who are employed by either a domestic company in China or a foreign-invested enterprise that has been incorporated there. It is intended for employees who live and work in China. The R visa is a new visa typi...
Q&A
What can get in the way of a company trying to terminate an employee in China, I...
- April 2015
- Free Access
In China, termination can be blocked and deemed invalid, usually in the instance that the employee has contracted a disease or is pregnant/on maternity leave. India’s antiquated shops and establishments Act 1953 may require the employe...
Q&A
What kind of entity should I set up in China for my business in the advertising ...
- March 2015
- Free Access
Since the advertising and publishing industries are both restricted in China, foreign investors who wish to operate in any of these areas would need to set up a Joint Venture with a Chinese partner. For this to be successful, the foreign equity would...
Q&A
Are there any applicable tax or free trade agreements in Vietnam?
- March 2015
- Free Access
Yes, Vietnam has a very specific trade advantage. As a full member of ASEAN – it is privy to any FTA that ASEAN collectively signs. This includes a comprehensive FTA with China that effectively reduces tariffs on 90 percent of all products trad...
Q&A
How do Vietnamese wages compare against China and Asia?
- March 2015
- Free Access
Wages in Vietnam are roughly 30 percent of those working in major manufacturing hubs in China. In other words, Chinese workers earn at least double the wages of workers in other emerging Asian manufacturing hubs.
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