Economy

DAW Entrepreneur Day: Stock Markets – Finance – Economy

Richard Hoffmann, partner of Ecovis Beijing, was invited as a speaker to the Entrepreneur Day of the German-Asian Business Circle (DAW), with presentations and a concluding - very interesting - panel discussion. We welcome you to visit this event. ...
VAt

Ultimate VAT guide for selling through online marketplace in Germany – Part 1

Germany's liability regulations for online marketplaces In the past years, thousands of vendors that are selling on marketplaces like Amazon or eBay, many of which are from China are not paying their VAT on the sale of in EU. The EU estimates that...

Case Study: Internal Control Review for subsidiaries in China

What is an Internal Control Review (ICR)? The goal of an ICR is answering to the question whether an internal control is established and sufficiently executed in a company. The main emphasis herein relies on the specific management and control proc...
g20

G20 Summit: Why it is so important to China and the world?

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 touris...
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...
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

Outlook Germany 2017

2016 has just ended and many events have created an atmosphere of uncertainty: a weak economy, an unexpected Brexit, a chaotic situation in the Middle East, the rise of anti-globalisation sentiments, etc. Not surprisingly, the Chinese foreign ministe...
franchising china

Update: China Releases New Draft Regulations Regarding Cyber Security of Online Services and Product...

After adopting the first Cyber Security Law in November 2016, China is coming up with new regulations for the risk and quality evaluation of online products and services. On 4 February, the Cyberspace Administration of China (CAC) released draft reg...
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 ...

Countdown to the Hamburg Summit: China meets Europa 2016

On 23 and 24 November 2016, the 7th “Hamburg Summit: China meets Europe” will take place at the Hamburg Chamber of Commerce. The “Hamburg Summit” was initiated and organised by the Hamburg Chamber of Commerce for the first time in 2004 as a platform...