China Briefing News

We cover the latest economy and trade, legal and tax updates, industry insights, and HR and payroll news that are most relevant to doing business in China. Here are our top China news summaries.

What to Expect for the 2024 Two Sessions – GDP Growth Target and Policy Agenda

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The 2024 Two Sessions – the annual plenary meetings of China’s parliament (NPC) and advisory body (CPPCC) – will start on next Monday, March 4. This year’s meetings are particularly highly anticipated, when everyone is watching closely how the Chinese government intend to support growth.

Navigating the Impact of OpenAI’s Sora on China’s AI Industry

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Sora, OpenAI’s groundbreaking text-to-video model, has sparked both excitement and caution in China’s tech industry.

China’s Dairy Industry – Market Trends and Opportunities

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The dairy industry in China has grown to become the second largest in the world, presenting a myriad of new opportunities for investors.

Hong Kong Removed from EU Watchlist Following Changes to Regulations on Foreign-Sourced Income

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Under new rules on foreign-sourced income exemption, MNEs that don’t meet certain substance requirements may be taxed on some types of income derived overseas.

China’s New Draft Regulations for After-School Tutoring

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China’s Ministry of Education unveiled a new set of draft regulations aimed at reforming the after-school tutoring industry. These regulations clarify various aspects of after-school tutoring, from licensing and scheduling to pricing and penalties.

China’s Gaming Industry: Trends and Regulatory Outlook 2024

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We discuss why China’s gaming industry is a global powerhouse despite regulatory interventions, boasting growth in revenue and market share.

Record Highs in Travel, Consumption Boost Mark 2024 Chinese Spring Festival Holidays

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Travel and consumption trends registered remarkable growth during the 2024 Chinese New Year holidays but these may not be sustainable. We discuss why that may be.

China Annual IIT Reconciliation in 2024: Appointment via the IIT App Starts February 21

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Annual IIT reconciliation for the year 2023 will start soon. Taxpayers who need to make the final tax settlement between March 1 to March 20 need to make an appointment starting from February 21, 2024.

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