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China Regulatory Brief: New Preferential Policies for SMEs, Shanghai Foreign Residence Permit Rules

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China-Regulatory-Brief
SMEs to Enjoy New Preferential Tax Policies in China

On August 19, Chinese Premier Li Keqiang announced a new round of preferential tax policies for small and medium-sized enterprises (SMEs) during an executive meeting of the State Council. Small and medium-sized enterprises with a taxable income not exceeding RMB 300,000 are allowed to pay corporate income tax at the rate of 20 percent on only 50 percent of their taxable income. Further, SMEs with a monthly sales volume of RMB 20,000 to RMB 30,000 shall be exempt from value-added tax (VAT) and business tax. The policy will take effect on October 1 and last until December, 2017. In the past eight years, China has taken a series of measures to aid in the development of SMEs such as establishing special support funds, reducing corporate income tax (CIT) and value-added tax (VAT) rates, and clearing some administrative fees. 

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China Investment Roadmap: the Commercial Real Estate Sector – New Issue of China Briefing Magazine

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Cover 250 x 350The latest issue of China Briefing Magazine, titled “China Investment Roadmap: the Commercial Real Estate Sector” is out now and available to subscribers as a complimentary download in the Asia Briefing Bookstore through the month of June. 

Contents:

  • Powering China’s Urbanization: A Market Overview of the Real Estate Sector
  • Building for the Future: Selling Construction Materials in China
  • Opportunities for a Foreign Architect or Firm in China

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China’s E-Commerce Market Faces Tightened Regulations

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E-commerce-legal-and-regulatory_300x230pixBy Dezan Shira & Associates
Editor: Elizabeth Leclaire

In the midst of a consumer shift to online purchasing platforms, China’s new Method of Network Payment Service Management for Third Party Payment Agents law looks to improve and protect customer rights and privacy within the e-commerce market. The new regulation, currently in its draft stage, limits the RMB amount of consumers’ daily and annual online purchases through third party payment agents.

China’s e-commerce market has grown remarkably fast in recent years, with companies Alipay and Tencent dominating the third party payment agents sector. China is currently home to 270 third party payment agents and over 430 million online shoppers. Over the course of 2015, online payments within the nation are expected to amount to US$1.9 trillion, with Alipay witnessing over 80 million transactions each day.

While the new draft law will present restrictions on private third party payment agents if passed, it is important to note that state-owned payment agents, such as China UnionPay, will not be subject to the regulations.

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Ningbo: the City that Beat Hong Kong to be the World’s Fourth Busiest Port

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CB-2013-03_Trade-With-ChinaBy Dezan Shira & Associates
Editor: Elizabeth Leclaire

With a GDP of US$122.31 billion in 2014, Ningbo is a major economic hub along China’s eastern coastline. Much of Ningbo’s economic success can be attributed to the city’s ports which connect the Yangtze River Delta to the East China Sea. Over 10.5 million twenty-foot equivalent units (teu) passed through Ningbo’s ports from January to June of this year, surpassing Hong Kong’s throughput volume of 10.1 million teu over the same period. Ningbo’s profitable overseas trading sector, in addition to its bustling manufacturing industry, has placed the city among China’s largest commercial centers. Continue reading…

Selling to China Without a Physical Presence: How to Open an Online Shop on Tmall Global

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AB mag 2014 05_e-commerce across asiaBy Dezan Shira & Associates
Editor: Grace Tate

In China, companies seeking to engage in the online retail industry are required to first set up a company and a physical store. For investors not yet fully-prepared for setting up a company in China, global sites launched by China’s local e-commerce platforms might be the best choice to sell to China’s lucrative market.

Tmall, China’s largest B2C platform owned by e-commerce conglomerate Alibaba Group Holdings Ltd., controls over 50 percent of China’s B2C market share. In 2013, Tmall launched Tmall Global: a cross-border, online platform that allows international brands and retailers to sell directly to Chinese consumers without having a physical presence in China. With Tmall Global, orders can be shipped directly from abroad and payments may be settled in the preferred currency. The goods are sent directly to China by consolidated shipment or express mail delivery, and distributed through Tmall bonded warehouses. Tmall’s international cross-border dropshipping specialists ensure delivery to Chinese consumers within 5-8 work days.

Following the huge success of Tmall Global, JD.com, China’s second biggest e-commerce company, launched its own global e-commerce platform, JD Worldwide, earlier this year. This means Tmall Global is no longer the only option available to foreign online retailers. However, given that JD Worldwide is still at an early stage of development, investors are suggested to take careful consideration of where to start their online business. 

In this article, we walk you through the eligibility requirements, application and set-up procedures for setting up an online shop on Tmall Global.

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The Cost of Doing Business in ASEAN Compared with China – New Issue of Asia Briefing Magazine

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Cover 250 x 350The newest issue of Asia Briefing magazine, titled “The Cost of Doing Business in ASEAN Compared with China“, is out now and available as a complimentary download in the Asia Briefing Bookstore.

Contents:
  • Doing Business in China & ASEAN – Land, Labor, GDP Per Capita and Welfare Comparisons
  • Executive Summary – Choosing an Investment Location in ASEAN

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China Regulatory Brief: Company Domicile Registration Requirements & Unified Business License

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China-Regulatory-Brief
Shanghai FTZ Allows Enterprises to use Law Firms as Business Domicile

On August 13, the Market Supervision Bureau of Shanghai Pudong New Area announced its decision to further implement the “Shanghai Municipal Administrative Measures on Company Domicile Registration (Hu Fu Ban Fa [2015] No.15)and allow enterprises to use law firms that are located within the Shanghai Free Trade Zone (FTZ) as domicile for their business registration. As a majority of foreign investors looking to enter the Chinese market tend to entrust a local law firm to handle the business registration procedures, the new policy will enable investors to complete the business registration procedures without first having their own domicile in China. Such law firms will be allowed to provide other registration services including registration agent services, entrepreneurship guidance, outsourced secretarial services and legal aid. 

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Exploring New Opportunities in Adaptive Learning in China

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By Emerging Strategy

The term ‘adaptive learning’ has been misunderstood in some cases, and misused in others. A relatively new development in education technology, especially in emerging markets such as China, some consider adaptive learning to be the application of content-mapping (the categorization of relationships between different concepts and ideas) and norm-referencing (the assessment of a performance in terms of its relationship to the larger group) to learning tools.

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