Grace Shi

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Grace has more than 15 years of experience in accounting, auditing and tax advisory services, registration of companies to both international accounting firms and large domestic corporations. Grace has hosted several events on “Investing in Germany” and is a board member of the Benelux Chamber of Commerce in Beijing. Before joining Ecovis she was head of a professional firm in Beijing for six years and CFO of a local company with more than 1000 employees.

FinTech: Exciting business opportunities for Chinese firms in Lithuania

FinTech, short for Financial Technology, has grown from being a term for the technology utilized by financial institutions to an umbrella term for technological innovation in the financial sector, including more consumer-oriented services. Lithuani...
VAt

Tax Update: New VAT Rates Starting From 1 May 2018

In the wake of China’s VAT reform, business has already benefited from savings worth 2.1 trillion RMB (270 billion EUR), according to the Chinese government. On 28 March 2018, the State Council announced three measures, which aim at further reduci...

The Chinese Government is Starting to Pay More Attention to Cryptocurrencies and Blockchain Technolo...

The Chinese government is starting to pay more and more attention to cryptocurrencies and blockchain technology. With the recent ban on initial coin offerings (ICO) issued by China’s central bank together with other related agencies on 4 September 20...

Common Mistakes, and how to Avoid Them

Some of the most common mistakes our clients make, and how they can easily be avoided While every case we deal with is unique, some mistakes are more common than others. We recently audited a client’s Chinese branch and found some very common, and a...

How to repatriate capital out of China

With capital controls getting stricter, more and more foreign businesses and individuals wonder how to transfer money out of China? Many people are worried that after being in China for a significant time, they won’t be able to repatriate the profits...
franchising china

China to Introduce Ranking System for all Companies in China

A report published by the Mercator Institute for China Studies (MERICS) in late May provides a detailed look at China’s upcoming “Enterprise Social Credit” policy. The report claims that while this new system will help the Chinese government address ...
franchising china

New Cybersecurity Regulations to Begin on June 1st

New cybersecurity regulations, passed November of last year, will be taking effect on 1 June 2017. According to the new regulations, “internet service providers cannot collect user information that is irrelevant to the services, and they should handl...
franchising china

New Regulations on Chinese Financial Accounts

On May 19th, 2017, several Chinese agencies, including the Central Bank and the Ministry of Finance, announced new requirements for all financial accounts.  The new requirements will take effect July 1st, though institutions will have one year to ma...

22/23 MARCH 2017: Investing in Germany

A successful investment requires an understanding of the economic profile as well as the legal and tax framework of the investment country.   In cooperation with the German law firm Görg (贵珂), ECOVIS Beijing invites you to attend an interdiscip...
franchising china

ECOVIS Beijing 2017 Outlook

The Chinese economy has ended 2016 on a positive note. In December, the Purchasing Managers’ Index (PMI) reached 53.4, up from 53.1 in November. It also reached its highest level since July 2015, indicating a relatively optimistic outlook of Chinese ...