News from China

Latest

Closing a company in China – easier and faster!

Closing down a business in China has often been a tedious and time-consuming task. Some say “it is difficult to get in, and even more difficult to get out”. However, following the nationwide initiatives of administrative reform and business environm...

Event report: China Business Day 2019

The China Business Day is an innovation and strategy event for manufacturers and retailers in the consumer goods industry and took place this year as a part of the EURO FINANCE WEEK. The China Business Day was opened by Andres G. Scholz, CEO of the ...

Plan ahead: getting your firm ready for 2020

What changes in China will affect your business in the coming year? The end of the year is a time to review the past year and plan ahead for the next 12 months. This is not about our typical well-intended good resolutions like eating healthier or f...
video

Video: HR in China – Recruiting and HR Management

Our webinar (German language) explains how the Chinese labor market works in real life and outlines the difficulties and competition international companies are facing in the Chinese labor market. How to find the right talents? What should you consid...

Tax

Tax Update: New 15% Super Deduction on VAT Input Credit

Applicable for Lifestyle Services Businesses, Takes Effect Oct 1st, 2019 The State Administration of Taxation (SAT) and the Ministry of Finance jointly issued a notice on 30 September 2019 to offer super deduction of VAT input credit for lifestyle s...

Public Notice on VAT Clarifies Several Issues on VAT Collection and Control

The State Taxation Administration (STA) recently issued a notice clarifying 14 issues regarding VAT treatment. We have summarized the most important changes in the following text. All information is based on the STA’s circular Public Notice on VAT...

China-Japan Social Security Agreement

Avoiding double payments In recent years, China signed and ratified social security agreements with a number of countries. The latest to take effect is the social security agreement between China and Japan. It was signed on May 9th, 2018 and took ef...

Case Studies

(Event Report) Networking Seminar E-Commerce and digital Marketing in China (26. Sept. 2019)

The e-commerce sector has become a leading force in economic and social development and has changed people's lifestyles. This is especially true in China, where e-commerce is booming. In 2018, China accounted for more than 50% of the world market f...

Corporate Social Credit System

What impact does the Social Credit System have on companies? While in recent times China's trade conflict with the USA has been the main focus of attention, the ruling Communist Party's domestic political plans have mostly receded into the backgroun...
China Insight Cover Page

Ecovis in the Press: China Insight 02-2019

We are thrilled to announce, that China Insight, a German Economy magazine in China, published two articles from Ecovis Beijing. The first article is discussing “Tax relief in China”, the second one “Termination of employment in theory and practice”....

Legal Service

Closing a company in China – easier and faster!

Closing down a business in China has often been a tedious and time-consuming task. Some say “it is difficult to get in, and even more difficult to get out”. However, following the nationwide initiatives of administrative reform and business environm...

Plan ahead: getting your firm ready for 2020

What changes in China will affect your business in the coming year? The end of the year is a time to review the past year and plan ahead for the next 12 months. This is not about our typical well-intended good resolutions like eating healthier or f...

Foreign Investment Law: Draft implementation rules published

The Chinese Ministry of Justice (MOJ) released draft implementation regulations for the Foreign Investment Law on Nov 1st, 2019. The law itself was passed in March 2019 and will take effect on January 1st, 2020. Since the wording of the law was consi...

Accounting & Audit

video

Video: How to handle late payments in China?

Late payments are a widely spread issue in China affecting both domestic and foreign businesses. They especially have a severe effect on small businesses, as they have more limited access to financing. At the same time, they also have limited bargain...

Successful year end liquidation case

As we promised a few weeks ago Ecovis can make the tax liquidation process fast, simple and transparent. Normally tax liquidations in China can be complex, time consuming and take between four up to 24 months depending on the preparation. We have be...

Is your firm ready for 2019?

Now is the time to check if your firm is ready for 2019 General Data Protection Rule (GDPR) Compliance   Is your firm compliant with the European Union’s General Data Protection Rule (GDPR)? The GDPR extends its protection to data of all individu...

Investments

Foreign Investment Law: Draft implementation rules published

The Chinese Ministry of Justice (MOJ) released draft implementation regulations for the Foreign Investment Law on Nov 1st, 2019. The law itself was passed in March 2019 and will take effect on January 1st, 2020. Since the wording of the law was consi...

Profit repatriation – How to return assets to your home country?

Returning assets abroad can be a complicated, time-consuming process, especially in the current economic climate of China in which capital control is getting stricter. It has always been an essential but challenging task for foreign investors to repa...

Do 31% Of All German Companies Move To China?

Internationalization in the German SME sector For many years, Commerzbank's Unternehmerperspektiven initiative (which translates to Entrepreneur Perspectives) has been asking German small and mid-sized enterprises (SMEs) about challenges, prospects ...

Cyber & Data Security

5G

Ecovis Tech Tips: What is 5G and how will it impact the Chinese market ?

5G technologies will transform how we use networks. In this edition of Ecovis Tech Tips, we will share with you our thoughts on how 5G will impact the Chinese market More and more mobile phones are used by the worlds community and data usage is on...

Ecovis Tech Tips: Encryption Technologies in China

Nowadays, cryptography is becoming more and more popular for many companies who want to protect their data. Due to the relevance of these technologies both for the economy and for national security, China has been gradually introducing a system of le...

Ecovis Tech-Tips: Data Protection Through Encryption

Data encryption, what is it exactly and how does it work? Can businesses protect themselves from data breaches or cyber attacks using encryption mechanisms? In this edition of Ecovis Tech Tips, we will provide answers regarding this topic… Data En...