Our collection of resources based on what we have learned on the ground
Resources
Q&A
How are the policies to be relaxed in the Shanghai Free Trade Zone (FTZ) for the...
- May 2014
- Free Access
The telecommunications industry has traditionally been heavily regulated in China. Due to the practical hurdles in obtaining the relevant licenses and foreign ownership restrictions, very few foreign investors have been able to obtain permission to p...
Q&A
How are the policies to be relaxed in the Shanghai Free Trade Zone (FTZ) for the...
- May 2014
- Free Access
Under the Framework Plan, the Shanghai FTZ will relax restrictions on the proportion of foreign equity permitted in joint venture international shipping enterprises and allow wholly foreign-owned vessel management enterprises to be established in the...
Q&A
What conditions need to be met by foreign investors registered in the Shanghai F...
- May 2014
- Members Access
Entities registered in the Shanghai FTZ must meet the following conditions to engage in international vessel management: Have at least two senior executives with no less than three years experience in international maritime transportation; and Ha...
Q&A
Does the Shanghai Free Trade Zone (FTZ) contain tax and custom policies to facil...
- May 2014
- Free Access
The Shanghai FTZ contains tax and customs policies to facilitate the shipping industry. Shipments from overseas may be delivered to the Zone first and filed for entry later, and the customs filing procedures for goods imported into the Zone will be g...
Q&A
How are the policies to be relaxed in the Shanghai Free Trade Zone (FTZ) for cro...
- May 2014
- Free Access
The Notice Concerning Support to Further Expand the Cross-Border Usage of RMB in the Shanghai FTZ (The Notice) simplifies the procedures for cross-border RMB usage under current account and direct investment items within the Shanghai FTZ. Commercial ...
Q&A
Are enterprises located in the Shanghai Free Trade Zone (FTZ) permitted to borro...
- May 2014
- Members Access
According to the Notice Concerning Support to Further Expand the Cross-Border Usage of RMB in the Shanghai FTZ, non banking financial institutions and enterprises located in the Shanghai FTZ are permitted to borrow RMB funds from offshore sources. Ho...
Q&A
What do Free Trade Accounts in China entail?
- May 2014
- Free Access
A Free Trade Account (FTA) is a new type of bank account which was introduced to facilitate the cross-border flow of funds into the Shanghai Free Trade Zone (FTZ). It is for both residents and non-residents (including individuals and entities) in the...
Q&A
How should a foreign enterprise prepare an audit report in China?
- May 2014
- Members Access
All foreign-invested enterprises (FIE), including wholly foreign owned enterprises (WFOE), joint ventures (JV), and foreign-invested commercial enterprises (FICE), are required to hire external accounting firms to conduct and annual audit of the comp...
Q&A
What is the Chinese equivalent of the Generally Accepted Accounting Principles o...
- May 2014
- Members Access
The Chinese Accounting Standards (CAS) framework is based on two standards: the Accounting Standards for Business Enterprises (ASBEs) and Accounting Standards for Small Business Enterprises (ASSBEs). For most enterprises established in China, ASBEs a...
Q&A
How should a foreign enterprise in China prepare corporate income tax (CIT) reco...
- May 2014
- Members Access
In China, CIT is paid on a monthly or quarterly basis in accordance with the figures shown in the accounting books of the company. Companies are required to file CIT returns within 15 days from the end of the month or quarter. However, due to discrep...
Q&A
When does the annual inspection in China take place for foreign-invested enterpr...
- May 2014
- Free Access
Each year from March to the end of June the annual inspection is jointly hosted by the following governmental departments: Ministry of Commerce (MOFCOM) Ministry of Finance (MoF) Administration of Industry and Commerce (AIC) State Administratio...
Q&A
Which types of enterprises are required to conduct record filing to the State Ta...
- May 2014
- Members Access
Individuals and institutions in China making outbound payments of more than US$ 50,000 are now required to conduct record filing with the in-charge local offices of the STB. Foreign investors reinvesting in China with an income of more than USD 50,00...
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