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SELECT AN IMAGE AT 200X200 FOR INTRO AND UPLOAD IT ON THE TOP

Everyone who has ever been involved in a business activity in China has certainly come into contact with the peculiar red mark on every document: the chop. The chop is the Chinese equivalent of a signature in the Western Hemisphere and it is the ultimate tool used to authorise all kinds of documents. 

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ECOVIS Beijing, Start-Up, China, Contest, U-Start

How do young entrepreneurs shape the future? The finale of the first ECOVIS Beijing startup contest, U-Start, offered a glimpse at the answer to this question. On 22 September 2016, six teams, two of them via video and skype, competed for 3 prizes, worth several hundred thousand RMB, at the Gehua Design Service Center in the heart of Beijing.

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ECOVIS Beijing, China, ECOVIS International, Press Release, Digital Payment Methods, Cashless, Taxation, Transaction

There have been three landmark gatherings in China since the Reforming and Opening-up strategy in the year 1979: the 2008 Beijing Olympic Games, the 2010 Shanghai Expo, and  the 2016 G20 Summit which was held a couple of days ago in the famous tourist city of Hangzhou. 

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ECOVIS Beijing, China, ECOVIS International, Press Release, Digital Payment Methods, Cashless, Taxation, Transaction

The use of cash is in decline the world over, whilst digital payment systems, such as electronic cash (where the transaction is paid for directly from the buyer’s account via his or her debit card at the POS terminal in combination with a PIN), credit cards and electronic fund transfers are steadily gaining favour with the consumer. “This trend was confirmed in the international survey in which partner offices in 15 countries spread over four continents (excluding Africa) participated,” says Alexander Weigert, a board member of Ecovis, an international taxation and auditing company. In addition, Ecovis was also keen to learn what affect this development is having on business accounting procedures, and how respective tax authorities are reacting to this trend.

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SELECT AN IMAGE AT 200X200 FOR INTRO AND UPLOAD IT ON THE TOP

When starting a business in China, many choices have to be made. One of the first tasks is to determine the entry strategy and decide on the legal structure. Do you want to enter China with a Joint Venture, a Representative Office, a Wholly Foreign Owned Enterprise (WFOE) or will you choose to trade?

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ECOVIS Beijing, China, E-Commerce, Ecommerce, China, Cybersecurity Lay, Second Draft, Business in China, Internet, Online Trade, Foreign, Companies

Last month, the second draft of China’s Cybersecurity Law has been released. This law is the first attempt to coordinate the safeguarding of the internet and the drafts are supposed to outline a rough direction of where the law is heading what the possible implications would be. Although the second draft narrowed the room for interpretation, many blurred lines and open questions remain. But one thing is clear: Companies will face new challenges.

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ECOVIS Beijing - international professionalism at your fingertips

ECOVIS is an internationally active consulting firm, specialized on accounting, audit, tax and legal advisory for SMEs, that employs more than 4,500 people in over 56 countries. At ECOVIS Beijing, our advisory activities are tailored to the requirements of internationally active enterprises who require tax advisors, accountants, auditors and lawyers in China. Working independently, objectively and absolutely reliably, we value mutual trust and long-term personal support in the partnerships with our clients above all. Because of our high quality standards and our commitment to long term customer satisfaction, ECOVIS Beijing is the trusted partner of several embassies and chambers of commerce in China. Not only do we assist your business in maneuvering China’s legal landscape, we will also help you setup the optimal tax structure. Our tax experts and legal advisors work together closely to ensure that our clients can reap the highest profits from our in-depth knowledge and always receive the newest updates first to adjust their business faster than others. At ECOVIS Beijing, we are proud to have a young, enthusiastic and fast-growing team of highly qualified lawyers, accountants, auditors, and consultants with international background that is fluent in English, Chinese or German. With several years of experience and profound practical knowledge we support our clients from China and overseas in every situation.

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