New Issue of China Briefing Magazine: Closing Down Representative Offices and Liquidating Businesses in China
Feb. 8 – In this new issue of China Briefing, we take a look at the procedures for closing down representative offices and liquidating businesses in China.
With the global financial crisis slowly beginning to ease and China’s economic growth in steady recovery, many foreign investors are again considering China. However, the chaos of the last year has resulted in a shift of the economic model on the mainland, and businesses that previously were only export-focused have had to rethink their China strategy or downsize their operations. With that in mind, we outline the responsibilities foreign executives have when it comes to winding up a business in China. It is a difficult subject that requires attention to detail and regulatory compliance. Updated from our earlier commentary on the subject (March 2007), this issue discusses the implications of liquidating a China subsidiary including the reporting procedures that need to be followed, and the tax and legal implications of closing down operations on the mainland.
The issue is available as a PDF download in the Asia Briefing bookstore here.
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