Subscribe To China Now

strategy

2019 China-New Zealand Year of Tourism: Things to know

A mix of academics, policymakers, tourist attraction agencies and operators came ...

read more
View all in strategy

finance

Beijing and Shanghai Remove Bank Account Approval Requirements

Beijing and Shanghai are the latest cities to remove the permits required for opening ...

read more
View all in finance

profile

Ambassador Wu Xi's speech at the China Business Summit

E ngā mana, E ngā reo, E ngā rau rangatira mā, Tēnā koutou, tēnā koutou, ...

read more
View all in profile

commentary

Minister Parker Speech at the China Business Summit

Tēnā koutou katoa. Da jia hao. Good morning distinguished guests, ladies and ...

read more
View all in commentary

general

Mandarin language assistants welcomed

Forty eight Mandarin Language Assistants were officially welcomed to New Zealand ...

read more
View all in general

Tax and Finance

Beijing and Shanghai Remove Bank Account Approval Requirements

Beijing and Shanghai Remove Bank Account Approval ...

Beijing and Shanghai are the latest cities to remove the permits required for opening a corporate bank account in China, a move consistent with the government effort to reduce administrative red tape for small businesses. Since April 2019, companies in Beijing and Shanghai no longer require a permit from the...

read more

NZ-China economic ties strengthened

NZ-China economic ties strengthened

Economic ties between New Zealand and China are being strengthened with the successful negotiation of a new taxation treaty. The double tax agreement was signed by New Zealand’s Ambassador to China and by the Commissioner of the State Taxation Administration of China, at a signing ceremony in Beijing witnessed by the...

read more

Trade war will not derail China’s promise to open up its financial markets, central bank chief says

Trade war will not derail China’s promise to open up its ...

Road maps, timetables ‘already very clear’ and will be implemented, People’s Bank of China governor Yi Gang tells economists’ forum. China is committed to opening up its financial services markets to foreign players irrespective of the trade war with the United States, the head of its central...

read more

China to Simplify Business Registration for Foreign Investors

China to Simplify Business Registration for Foreign ...

China will simplify business registration procedures for foreign-invested enterprises in a bid to spur foreign investment, Premier Li Keqiang announced following a State Council meeting on May 16. The measures, which will go into effect on June 30, 2018, include the “One Window, One Form” policy...

read more

China Slashes VAT Rates in US$64 Billion Tax Cut

China Slashes VAT Rates in US$64 Billion Tax Cut

China will cut value-added tax (VAT) rates for businesses in the manufacturing, transportation, construction, telecommunication, and agricultural sectors, according to Premier Li Keqiang. The cuts – which came into effect on May 1, 2018 – are expected to slash taxes by RMB 240 billion...

read more

Profit Repatriation from China

Profit Repatriation from China

For foreign companies with subsidiaries in China, profit repatriation from their subsidiaries has always been an important and challenging issue. China maintains a strict system of foreign exchange controls, meaning funds flowing into and out of China are tightly regulated. It is important for foreign investors to...

read more

China’s Reduced VAT Rates

China’s Reduced VAT Rates

China recently lowered its value-added tax (VAT) rates, as part of an RMB 400 billion (US$64 billion) tax cut package. China's Ministry of Finance (MOF) and the State Administration of Taxation (SAT) recently released the Circular about Adjusting the Rates on Value-added Tax, which explain the...

read more

Understanding Legal Proceedings in China

Understanding Legal Proceedings in China

For foreign investors running businesses in China, it is very likely that they would find themselves feeling wronged by another party who has failed to live up to their end of a contract. Many foreign business owners hesitate to enter litigation in China because they assume that the legal process in China is a time consuming...

read more

China widens economic influence

China widens economic influence

Beijing’s ‘One Belt, One Road’ is a small phrase with major ambitions. Noel McNamara explains what it means for New Zealand exporters and global trade. In response to expected flat world trade growth abroad and moderating economic activity at home, China is packaging a series of initiatives to help...

read more

Tax Benefits of Changing from an RO to a WFOE

Tax Benefits of Changing from an RO to a WFOE

There are many reasons why setting up a Representative Office (RO) in China is beneficial for a company, with the simplicity and low cost of the registration process being among the most attractive. If a company is beginning its venture into China or only wants a research/support post then an RO is a great way to get started....

read more

What to expect from China’s new investment laws

What to expect from China’s new investment laws

On 19 January 2015 MOFCOM issued a draft of the PRC Foreign Investment Law for public comment (FIL). Below we highlight key features of the new foreign investment regime. While the road to the actual passage of the FIL will likely take at least another eighteen months, it is clear that once adopted, the FIL’s impact...

read more

Qualifying for DTA Benefits in China

Qualifying for DTA Benefits in China

China has made great strides in the past five years in building up its regulation in the area of double taxation avoidance, as well as implementation assurance techniques, but qualifying for DTA benefits remains a complex procedure. The first step is to determine whether you are a tax resident of a country that has an...

read more