Businesses operating in China are suggested to pay attention to the tax filing and payment deadlines for 2024 to avoid late payment penalties and tax credit downgrading.
Companies in Hong Kong can benefit from myriad incentive programs designed to support business growth, foster innovation, nurture talent, and more.
As of January 1, 2024, a series of new laws and regulations affecting business practices in China will come into effect. It is of utmost importance for foreign investors engaged in various sectors to closely monitor and adapt to these significant changes.
Recently unveiled guidelines for the Guangdong-Macao Cooperation Zone in Hengqin focus on enhancing financial services, promoting tourism, driving innovation, and expanding healthcare access. Noteworthy initiatives include market access relaxation measures like establishing Sino-foreign cooperative art colleges, wholly owned medical institutions from Hong Kong and Macao, and facilitating medical beauty services. These measures also underscore a strategic commitment to economic dynamism within the Greater Bay Area.
China unveiled a new Three-Year Action Plan for the Guangdong-Hong Kong-Macao Greater Bay Area, aiming to boost financial sector openness and market access in key zones like Hengqin and Nansha.
China’s Revised Measures for the Administration and Registration of Formula Foods for Special Medical Purposes
China has unveiled a set of revised measures governing the administration and registration of formula foods for special medical purposes, effective January 1, 2024. These changes mark significant updates to the registration mechanism, responsibility system, and penalties in place.
Zhuhai’s application deadline is January 5, 2024. Zhaoqing will close applications on January 20, 2024. Guangzhou’s application will end on February 29, 2024. Jiangmen and Zhongshan’s applications are yet to start.
In this article we explains what social average salary means, its composition, and why is it important in payroll calculation in China.