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# Acclime China: Professional Corporate Services in China

## Sitemaps
[XML Sitemap](https://china.acclime.com/sitemap_index.xml): Includes all crawlable and indexable pages.

## Pages
- [Microsoft Dynamics 365 ERP & CRM solutions in China](https://china.acclime.com/microsoft-dynamics-erp-crm/): Transform your China business with Microsoft Dynamics 365 ERP & CRM. As your dedicated ERP partner, Acclime supports custom ERP implementation, integration, operation and maintenance, ensuring your systems run efficiently and align with your strategic goals.
- [Diclaimer](https://china.acclime.com/diclaimer/): Acclime China reserves all copyrights on text or images in our newsletter. The text or images in the newsletter may not be copied or distributed without prior permission of Acclime China.
- [Newsletter](https://china.acclime.com/newsletter/): Subscribe to be the first to hear about China business insights and Acclime news. We will email you once a month with the latest news, announcements, service updates and Acclime events.
- [Corporate restructuring](https://china.acclime.com/advisory/restructuring/): Acclime is a recognised leader in providing corporate financial restructuring & turnaround solutions to under-performing enterprises in China.
- [Operational support & compliance](https://china.acclime.com/operational-support/): Operating a business in China comes with a host of mundane tasks and compliance requirements. Let us take over the administration part so you can get on with your business while we make sure you remain fully compliant.
- [Market entry](https://china.acclime.com/market-entry/): Confidently extend your operations to one of Asia's largest consumer markets with the help of our expert expansion services. We know the markets across a broad range of industries to assist you to start your expansion into China and the region on the right foot.
- [Due diligence](https://china.acclime.com/advisory/due-diligence/): Achieve financial due diligence through investigations that ensure that the target company or investment is financially sound and that all material risks have been identified.
- [Mergers & acquisitions](https://china.acclime.com/advisory/mergers-acquisitions/): Looking to increase profitability and expand to a larger market? Our mergers & acquisitions (M&A) support teams can help you to grow your business rapidly without taking a toll on operations, marketing, or sales strategy.
- [GAAP, SEC & IFRS Compliance](https://china.acclime.com/audit-finance/gaap-sec-ifrs/): Acclime provides specialist accounting expertise to meet the needs of our clients with GAAP and IFRS requirements. We work with our clients to help them follow the SEC regulations on public companies.
- [Valuation](https://china.acclime.com/audit-finance/valuation/): Acclime assists clients across all sectors with valuation issues related to tax planning and compliance, financial reporting, mergers & acquisition transactions, corporate restructuring and dispute resolution.
- [Internal control systems](https://china.acclime.com/audit-finance/internal-controls/): It is fundamental for a business to have efficient and robust internal control systems in place to ensure effective corporate governance. Acclime China’s advisory team takes a hands-on role in helping to establish or strengthen internal controls for your organisation.
- [Audit services](https://china.acclime.com/audit-finance/audit/): Acclime's high standards ensure reliability for investors, government agencies, and the general public that seek to rely on an external auditor to present an unbiased and independent audit report.
- [Audit & financial advisory](https://china.acclime.com/audit-finance/): Our experienced team has international understanding combined with local expertise in handling matters of audits and risk management for businesses of all sizes, industries and sectors.
- [Tax](https://china.acclime.com/tax/): Acclime has extensive experience and expertise in providing tax services to foreign and domestic enterprises, as well as individuals and representative offices across China. We emphasise the importance of efficient tax planning.
- [PEO/Employer of record (EoR)](https://china.acclime.com/hr/peo-eor/): Our China PEO employment solution frees you of the high incorporation-related costs while you are exploring the opportunity in China and validating your business. Our pricing is all-inclusive and without any hidden fees.
- [Tax compliance](https://china.acclime.com/tax/tax-compliance/): Our reliable corporate tax compliance services keep you ahead of your tax obligations. We are well experienced in working with all the relevant authorities, and we will complete your tax filing obligations on time, accurately report your assessable income, and help minimise your tax liabilities.
- [Tax advisory](https://china.acclime.com/advisory/tax-advisory/): Whether you require advice on tax opportunities or to resolve tax compliance or tax investigation issues, we are here to help.
- [Payroll outsourcing](https://china.acclime.com/hr/payroll/): Acclime provides comprehensive and competent payroll outsourcing services for your China business. Our qualified and experienced team can help you systemise your payroll processes, be compliant with local laws and remove these time-consuming tasks from your team’s schedule.
- [HR administration](https://china.acclime.com/hr/hr-administration/): Ad-hoc
- [Request a quote](https://china.acclime.com/request-quote/): Please fill in the form below to let us know more about your specific business needs & requirements. The more we know, the better we can help.
- [Work visa & permit](https://china.acclime.com/hr/immigration/work-visa-permit/): If you are a professional who wants to work in China or a business in China wanting to hire foreign employees, our immigration team can help you get the work visa and work permit quickly and easily.
- [Virtual CFO](https://china.acclime.com/audit-finance/virtual-cfo/): Our experienced financial consultants have the expertise, local knowledge, and objectivity to guide your company through financial management at a fraction of the cost of an internal hire.
- [Temporary residence permits](https://china.acclime.com/hr/immigration/temporary-residence/): When arriving in China on a work (Z) or business (M) visa, you must immediately begin the process of obtaining a temporary or foreign residence permit, which essentially acts as your long-term visa. Our dependable immigration team specialises in guiding applicants through the process in order to make sure it is a clear and seamless transition from your visa to residency.
- [Outbound visa support](https://china.acclime.com/hr/immigration/visa-support/): We offer comprehensive support for all immigration needs of foreign corporations and individuals operating in China or local companies with businesses abroad.
- [Port visa](https://china.acclime.com/hr/immigration/port-visa/): If you need to enter China for urgent reasons, or it is too late to apply for a visa at the Chinese embassy or visa application centre, our immigration team can help you secure a China port visa.
- [Permanent residence permit](https://china.acclime.com/hr/immigration/permanent-residence/): If you are looking to make China your permanent home, the permanent residence permit, or green card as it is often nicknamed, is highly recommended. Our professional immigration team can advise you on your eligibility and guide you smoothly through the process.
- [Dependant family visa](https://china.acclime.com/hr/immigration/dependant-visa/): If you want your immediate family members to relocate to China with you, they will need to apply for a dependant visa. Our immigration team can help you get the visa for your family quickly and easily.
- [Business visa](https://china.acclime.com/hr/immigration/business-visa/): If you are planning on visiting China for business, our immigration team can help you get the necessary business visa quickly and easily.
- [Business consulting](https://china.acclime.com/advisory/business-consulting/): We specialise in providing expert advice to regional groups and SMEs. Our considerable experience in China and the Asia-Pacific region allows us to help our clients overcome any obstacles to business and launch a strategy for company growth.
- [Banking & treasury](https://china.acclime.com/accounting/banking-treasury/): Overcome language barriers, fast-changing regulations, and other challenges when banking from overseas. With our banking & treasury services, we will manage the relationships with your banks, assist in bank account opening, loan applications, and process payments in a secure and timely manner.
- [Company registration](https://china.acclime.com/formation/company-registration/): Our company registration services make it easy for foreign businesses, investors and funded startups to start and manage their business in China and other offshore jurisdictions.
- [Company dissolution](https://china.acclime.com/governance/company-dissolution/): If you choose to discontinue doing business in China, you are recommended to go through the official procedure of liquidation and company deregistration. We will help you with the appropriate steps to dissolve your company, comply with regulations, and avoid penalties.
- [Trademark registration](https://china.acclime.com/formation/trademark-registration/): There are two routes to obtain trademark registration in China:
- [Business licenses](https://china.acclime.com/governance/business-licenses/): Secure the proper business licenses and permits for your company’s sector in China. Our team of experts will help you determine and apply for special licensing with the appropriate authorities to ensure you operate legally.
- [Bookkeeping & accounting compliance](https://china.acclime.com/accounting/bookkeeping-compliance/): Let us help you focus on running your business by taking away the hassles of maintaining your records & accounting compliance. Our accounting experts will keep your books, financial reports and compliance needs up to date and healthy to give you peace of mind.
- [Company secretary](https://china.acclime.com/governance/company-secretary/): Stay compliant with our ongoing corporate compliance services. We will always ensure that your business meets all the necessary laws and regulations as well as provide practical and viable solutions to your business problems.
- [Corporate advisory](https://china.acclime.com/advisory/): Leveraging our expert advice will help you to achieve business goals efficiently. Our years of experience will help you overcome business challenges and boost business growth.
- [Immigration services](https://china.acclime.com/hr/immigration/): Our team of experts handles all steps of the application from the very beginning until you and your family members can officially relocate and legally reside in China.
- [HR outsourcing](https://china.acclime.com/hr/): Let Acclime take care of your company's HR & payroll needs. Our modern payroll and admin technology can be tailored to your specific needs, leaving payroll and HR headaches a thing of the past.
- [Accounting services](https://china.acclime.com/accounting/): Through an in-house team of professionals, we manage bookkeeping, filing, banking and treasury functions in an efficient way, ensuring compliance as well as full transparency towards the managers supervising these functions internationally.
- [Corporate governance](https://china.acclime.com/governance/): We provide all the business services you will need to seamlessly set up and operate your business in China, whether you are just starting out or running an established business overseas.
- [Formation](https://china.acclime.com/formation/): We provide all the formation services you will need to seamlessly set up your business in China, whether you are just starting out or running an established business overseas.
- [Schedule a discovery call](https://china.acclime.com/discovery-call/): BD Manager
- [Homepage](https://china.acclime.com/): Acclime provides a complete suite of advisory and corporate services for doing business in China and Asia seamlessly. Benefit from the big firm experience without the big overheads.
- [Contact us](https://china.acclime.com/contact/): Our team is ready to discuss your business needs and answer any questions you may have about our services or doing business in China. Use our quick contact form to get in touch with us, we will get back to you within one business day.
- [About us](https://china.acclime.com/about/): Acclime China is part of the Acclime Group - an Asia-focused corporate services specialist with a genuine, on-the-ground presence in all of Asia’s hardest-to-navigate markets. By staying on top of regulatory changes, we help our corporate clients manage local governmental and administrative compliance issues quickly and with a minimum of fuss.
- [Privacy Policy](https://china.acclime.com/privacy-policy/): Please click the link below to view and download a copy of our data privacy policy. Our data privacy policy will be updated periodically and the version number is stated in the policy.

## Case studies
- [Wirtgen](https://china.acclime.com/case-studies/wirtgen/): Wirtgen trusted Acclime with its expansion across China after a long history of working together in Hong Kong.
- [Richard Wolf](https://china.acclime.com/case-studies/richard-wolf/): Acclime was on hand to guide the Richard Wolf in creating the required entities & providing innovative trade and import solutions throughout China.
- [DESMA](https://china.acclime.com/case-studies/desma/): DESMA turned to Acclime to assist in driving corporate changes in strategy, financial controls, accounting procedures and HR development in China.

## Downloads
- [Pre-incorporation checklist](https://china.acclime.com/downloads/pre-incorporation-checklist/): A quick checklist detailing the essential requirements for incorporating a company in China for foreign investors.
- [Incorporation Playbook](https://china.acclime.com/downloads/incorporation-playbook/): An in-depth guide covering everything you need to know about starting and managing your business in China.
- [Compliance calendar 2026](https://china.acclime.com/downloads/compliance-calendar/): Never miss an important deadline with our detailed compliance calendar containing accounting, tax & HR deadlines.
- [WFOE White Paper](https://china.acclime.com/downloads/wfoe-white-paper/): Learn everything there is to know about the WFOE registration process and become Chinable!
- [Data & Cybersecurity Compliance](https://china.acclime.com/downloads/data-cybersecurity-white-paper/): Learn more about China’s Cybersecurity Law and its impact on future data protection and business compliance.

## Guides
- [Registered capital and shareholder loans for a China subsidiary](https://china.acclime.com/guides/registered-capital-shareholder-loans/): The primary and direct financing of a company in China typically comes from two core sources: registered capital, which is equity, and shareholder loans, which are debt. While alternative financing routes exist, the balance between these two shapes how much cash the entity can draw on, how easily funds move back out and how much tax the group pays. Funding sent directly to a Chinese subsidiary without proper structural alignment and registration risks may be reclassified by Chinese tax authorities as taxable revenue, potentially triggering a Corporate Income Tax (CIT) liability of up to 25%.
- [Entering China’s lifestyle market as a foreign brand](https://china.acclime.com/guides/china-lifestyle-market/): China's lifestyle market has expanded well beyond traditional retail, drawing international brands into a competitive environment shaped by identity, experience and rapidly changing consumer expectations. Rising disposable incomes and the growth of premium consumption across a younger, digitally native consumer base have broadened the opportunity across fashion, beauty, wellness, home design, food and beverage and experiential retail. For foreign brands, the scale of that opportunity is rarely in question; the challenge is translating it into a compliant, locally adapted and commercially sustainable operation.
- [Choosing the right ERP system for your business in China](https://china.acclime.com/guides/erp-system/): For companies operating in China's Mainland and Hong Kong, selecting an enterprise resource planning (ERP) system is a decision that shapes how efficiently the business can grow. As operations expand across sales channels, entities and markets, the gap between what an existing system can handle and what the business actually needs tends to widen. Fragmented data, slower reporting cycles and difficulties managing multi-entity structures are common signs that a business has outgrown its current tools.
- [Tax incentives for foreign-invested enterprises and WFOEs in China](https://china.acclime.com/guides/tax-incentives-foreign-enterprises/): Tax incentives in China are available to foreign-invested enterprises (FIEs) and wholly foreign-owned enterprises (WFOEs), but the conditions that apply to foreign-invested entities differ from those that apply to domestic companies in ways that are not always immediately clear.
- [Customising payroll to align with company compensation policies in China](https://china.acclime.com/guides/payroll-customisation/): In China, payroll is more than an administrative function. It plays a central role in delivering a company's compensation strategy while ensuring compliance with a complex and highly localised regulatory framework. Employers must manage city-specific social security contributions, individual income tax withholdings and regional employment requirements, all while balancing talent retention, employee satisfaction and cost management.
- [Avoiding payroll compliance risks in China](https://china.acclime.com/guides/payroll-compliance-risks/): China's payroll framework is among the most complex in the world. Beyond processing monthly salaries, employers must comply with national tax regulations, locally administered social insurance schemes and city-specific housing fund requirements, all of which are subject to frequent regulatory updates and regional variations. Failure to meet these obligations can result in financial penalties, back payments, legal disputes and reputational damage.
- [Monthly payroll processing in China](https://china.acclime.com/guides/monthly-payroll-processing/): Monthly payroll processing in China hinges on getting local details right within a national framework. Employers combine accurate gross pay calculations with city‑specific social insurance and housing fund rules and apply the correct IIT method. A structured monthly timeline, robust controls and reliable sources for changing rates and deadlines keep payroll compliant and on time.
- [Year-end payroll compliance in China: Filings and deadlines](https://china.acclime.com/guides/year-end-payroll-compliance/): Year-end payroll compliance in China brings together tax, social insurance and housing fund obligations that apply across different authorities and systems. Employers need to reconcile individual income tax for employees, complete or support mandatory filings, check contribution bases and ensure records match what has been withheld and paid throughout the year. The process is governed by the People’s Republic of China’s tax rules and labour framework, and it can be demanding for organisations that have mixed workforces or operations across multiple cities.
- [Entering China’s cross-border e-commerce market: A step-by-step guide](https://china.acclime.com/guides/entering-cross-border-ecommerce-market/): China's cross-border e-commerce market continues to grow, driven by rising consumer demand for imported goods, platform innovation and sustained government support. The pilot zone programme, which began in Hangzhou, has expanded significantly over successive rounds of approvals, offering streamlined customs clearance, tax incentives and overseas warehouse support to qualifying businesses.
- [The China+1 manufacturing diversification strategy](https://china.acclime.com/guides/china1-strategy-diversifying-manufacturing/): The global manufacturing has undergone a significant transformation in recent years. One of the most prominent strategies that has emerged is the China+1 strategy. This strategy aims to diversify manufacturing operations outside China's borders to mitigate risks and leverage opportunities in other regions. As businesses deal with rising costs, geopolitical tensions and supply chain disruptions, the China+1 strategy has become more popular and is gaining additional momentum with the recent re-election of Donald Trump.
- [China ESG reporting: Guidelines for international companies](https://china.acclime.com/guides/esg-reporting-guidelines/): As environmental, social and governance (ESG) considerations become more prominent in global business practices, China is actively reshaping its regulatory landscape to align with these shifting standards. The country’s approach to ESG reporting is undergoing notable changes, reflecting its commitment to sustainable development and its influence.
- [Export incentives for manufacturers in China: Types, benefits and eligibility](https://china.acclime.com/guides/manufacturing-export-incentives/): China has long been a global manufacturing hub, with its export-oriented economy playing a central role in driving growth and industrial development. To support manufacturers and enhance international competitiveness, the Chinese government offers a range of export incentives, including VAT refunds, tax rebates and preferential corporate income tax rates for qualifying businesses.
- [Effective China market entry for foreign businesses](https://china.acclime.com/guides/china-market-entry-strategies-foreign-businesses/): China remains a powerhouse for global business, with GDP surpassing US$18 trillion in 2024 and a middle-income population of over 400 million. Rising urbanisation, digital adoption and strong consumer demand are fuelling a shift toward a consumption-led economy, while advanced manufacturing and innovation policies keep China at the centre of global supply chains. A series of policy updates further signal China’s intent to attract high-quality foreign capital. For foreign businesses, the challenge is not whether to enter China, but how best to structure operations to capture opportunity.
- [Effective financial due diligence for M&A deals in China](https://china.acclime.com/guides/financial-due-diligence-ma-deals/): Financial due diligence is a core component of any mergers and acquisitions (M&A) transaction, providing a comprehensive analysis of a target company's financial position, performance and growth potential. In complex cross-border environments, particularly in a market with distinct regulatory and accounting frameworks like China, thorough financial due diligence helps investors and acquirers make informed decisions and manage deal risk effectively.
- [Understanding China’s payroll requirements for companies](https://china.acclime.com/guides/payroll-requirements/): Managing payroll in China involves more than transferring salaries at month end. Employers are responsible for calculating total compensation, withholding individual income tax and making mandatory contributions to five social insurance programmes plus the housing provident fund, all within a framework where national rules intersect with city-level administration.
- [Special economic zones in China for foreign investment and manufacturing](https://china.acclime.com/guides/special-economic-zones-foreign-investment-manufacturing/): Special Economic Zones (SEZs) have been instrumental in driving China's economic development over the past few decades. Designed as strategic areas, SEZs aim to attract foreign investment, boost manufacturing and encourage technological innovation, serving as key engines of the country's economic growth.
- [Strategic benefits of adopting trade technology in China](https://china.acclime.com/guides/strategic-benefits-trade-technology-adoption/): Trade technology comprises a collection of digital solutions to facilitate and optimise international trade processes. In China, trade technologies are applied across various domains, including:
- [China’s annual audit requirements for foreign investors](https://china.acclime.com/guides/annual-audit-checks-balances/): The annual audit usually includes a tax reconciliation and inspection to confirm or propose tax adjustments, ensuring that the enterprise has correctly calculated and paid its Corporate Income Tax (CIT) per Chinese tax regulations.
- [Understanding China’s double-tax agreements](https://china.acclime.com/guides/double-tax-agreements/): China's double-tax agreements (DTAs) are bilateral arrangements designed to prevent double taxation and set out clear rules for how cross-border income is taxed. China's regulations, aligned with international standards, cover a broad range of income types and apply to both individuals and companies with cross-border activities.
- [Understanding transfer pricing in China](https://china.acclime.com/guides/transfer-pricing/): Transfer pricing involves setting prices for transactions between related companies and is closely monitored in China to prevent tax avoidance. China’s regulations, aligned with international standards, require transactions to follow the arm’s length principle.
- [Taxation in China: Overview and requirements for businesses](https://china.acclime.com/guides/taxation-requirements/): China operates a multi-layered tax system that covers corporate income, value-added tax, individual income tax and a range of transaction-based levies. The rules differ by industry, company type and location, and several key policies have changed in recent years. This guide sets out the main tax categories, current rates and filing obligations that apply to businesses operating in China.
- [Chinese accounting standards and compliance requirements](https://china.acclime.com/guides/accounting-standards-requirements/): Chinese Accounting Standards (CAS) set the reporting framework for all businesses operating in China, including foreign-invested enterprises (FIEs). CAS diverges from International Financial Reporting Standards (IFRS) in several practical ways, covering fiscal year structure, expense classification, VAT invoicing and record retention, so understanding where the differences lie matters before you are fully operational.
- [Individual income tax (IIT) deductions for foreigners working in China](https://china.acclime.com/guides/iit-deductions-foreigners-working-china/): To create a favorable working environment for foreigners, the Chinese government has rules on tax-free allowances applicable to foreigners working in Mainland China. All foreigners and their employers should be aware of these rules, to ensure that they do not pay more individual income tax (IIT) then they have to.
- [How to convert contractors to employees in China](https://china.acclime.com/guides/converting-contractors-to-employees/): As companies grow and establish a more permanent presence in China, contractor arrangements that made sense during an exploratory phase often become a compliance liability. Chinese labour authorities assess the actual working relationship rather than the contract label, and long-term arrangements where the company directs the work, sets the hours and relies on the individual for core functions can be reclassified as employment, with significant financial and legal consequences.
- [Chinese social security system at a glance](https://china.acclime.com/guides/chinese-social-security-system/): The scope of each agreement differs. Most cover pension and unemployment insurance only, while others may extend to additional categories. Employers need to apply through the relevant local social insurance bureau and submit supporting documentation, including a certificate of coverage from the home country authority. Foreign employees departing from China can also claim back certain contributions when closing their social insurance account. For a full breakdown of expatriate social security obligations , refer to our guide on Chinese Social Security coverage for expatriates.
- [How to establish a representative office (RO) in China](https://china.acclime.com/guides/representative-office/): A representative office allows an overseas company to establish a physical presence in China without incorporating a separate legal entity. It is a practical option for companies that need a base for liaison, market research or support activities before committing to full incorporation.
- [Incorporation vs employer of record (EoR) in China](https://china.acclime.com/guides/incorporation-vs-eor/): Foreign companies entering China face a fundamental choice before hiring a single person: establish a legal entity or engage an employer of record. The decision shapes legal obligations, cost structure, hiring flexibility and operational control from day one, and getting it wrong at the outset is significantly more costly than planning carefully upfront.
- [VAT & sales tax filing in China](https://china.acclime.com/guides/vat-sales-tax-filing/): All enterprises and individuals engaged in the sales of goods, provision of services, provision of processing, repairs and replacement services, and the import of goods within China, are liable for VAT. There are a few exemptions as shown below:
- [Understanding digital marketing in China](https://china.acclime.com/guides/digital-marketing-in-china/): According to The 50th China Statistical Report on Internet Development, the total number of Internet users in China reached 1.051 billion as of June 2022 and the internet penetration rate reached 74%.
- [Setting up a wholly foreign-owned enterprise (WFOE) in China](https://china.acclime.com/guides/wholly-foreign-owned-enterprise-wfoe/): Before registering a WFOE in China, businesses should evaluate several important factors to facilitate the process. These include the investment structure, registered capital, location and licences required for certain industries. Proper consideration and careful planning can help smooth the registration process and support long-term success in China.
- [The importance of a successful internal audit function in China](https://china.acclime.com/guides/internal-audit-function/): Internal audit has become a key component of effective governance for organisations operating in China. It goes beyond compliance, helping businesses identify risks early, strengthen internal controls and improve operational efficiency.
- [Understanding employment and labour law in China](https://china.acclime.com/guides/employment-law/): China’s employment framework sets strict requirements for businesses operating in the market. From mandatory written contracts and probation periods to social contributions and termination procedures, compliance involves navigating a mix of national, provincial and city-level legislation that is subject to frequent change.
- [How to terminate an employee in China](https://china.acclime.com/guides/terminating-employees/): China's labour framework provides strong protection for employees, and employers cannot dismiss staff without legal grounds. Understanding the grounds for termination, the procedures that apply and the obligations that follow is essential for avoiding costly disputes, penalties and reputational damage.
- [How foreign companies can hire employees in China](https://china.acclime.com/guides/hiring-employees/): Hiring employees in China requires more than posting a job and signing a contract. Foreign companies need to decide how they will establish a legal presence, comply with local labour laws and manage ongoing HR and payroll obligations, all before bringing a single person on board. The approach a company takes at this stage shapes its compliance exposure, cost structure and flexibility as it grows.
- [The cost of employing staff in China](https://china.acclime.com/guides/employee-costs/): Labour costs in China extend well beyond base salary. For employers, the total cost of hiring a member of staff includes mandatory social insurance contributions, housing fund payments, statutory leave entitlements and severance exposure on termination. Understanding these components from the outset helps companies budget accurately and avoid unexpected cost overruns.
- [Annual audit, tax reconciliation and inspection in China](https://china.acclime.com/guides/china-annual-audit-tax-reconciliation-inspection/): All registered companies in China are legally required to prepare certain year-end processes. These are not only important to stay compliant in China, but they also do need to be completed so that dividends can be paid out to shareholders.
- [Tax deregistration in China](https://china.acclime.com/guides/tax-deregistration/): Tax deregistration in China is a formal legal process that companies complete when closing operations, whether due to restructuring, market exit or financial difficulty. The process involves multiple government departments and carries real compliance obligations, including mandatory tax clearance, creditor notifications and liquidation reporting.
- [Understanding statutory audits in China](https://china.acclime.com/guides/tax-audits/): Statutory audits play a key role in financial transparency for businesses operating in China. According to the People’s Republic of China (PRC) Company Law and relevant legislation, all Foreign-Invested Enterprises (FIEs) prepare annual financial statements, including balance sheets, income statements and cash flow statements for their annual PRC statutory audit.
- [PRC tax receipt verification](https://china.acclime.com/guides/prc-tax-receipt-verification/): PRC tax receipt verification, or fapiao (发票) in Chinese, is an official invoice issued by the Chinese government for goods or services purchased in China. Unlike invoicing systems in other countries, fapiao serves as a primary mechanism through which Chinese tax authorities monitor, record and verify the amount of tax paid on any given transaction. All business entities operating in China, including foreign-invested companies, are legally obliged to issue and collect fapiao in accordance with their business activity.
- [International auditing frameworks (GAAP, IFRS) in China](https://china.acclime.com/guides/international-auditing-formats-gaap-ifrs/): The Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS) are the two dominant frameworks used by businesses operating across borders. Understanding how each applies in the context of China is essential for foreign-invested enterprises that report to overseas parent companies, investors or regulators.
- [Corporate income tax (CIT) guide in China](https://china.acclime.com/guides/corporate-income-tax-compliance/): Foreign-invested enterprises (FIEs) operating in China must navigate a tax framework that differs significantly from many other jurisdictions, with compliance requirements shaped by local regulations, administrative practices and accounting standards.
- [Audit requirements for foreign-invested companies in China](https://china.acclime.com/guides/audit-requirements-foreign-invested-companies/): Foreign-invested companies in China are required to submit audited financial statements to the relevant authorities for annual report filing and tax filing. As China's regulatory environment has become more stringent, understanding what a financial statement audit involves and how it connects to tax compliance obligations is increasingly important for foreign-invested companies.
- [Internal audit for SMEs in China](https://china.acclime.com/guides/internal-audit-smes-china/): An internal audit is an evaluation of a business's internal controls and an analysis of the degree to which an enterprise reaches its core objectives. For SMEs (small and medium enterprises) in China, building a sound control environment is relevant as businesses grow and face more operational and regulatory demands.
- [Company chops, seals and signatures in China](https://china.acclime.com/guides/company-chops-seals-signatures/): Company chops are among the most consequential documents a foreign business will manage in China. Unlike in most Western jurisdictions where a signature is the primary instrument of legal authorisation, the company chop in China carries equivalent or greater legal weight and binds the entire company regardless of who applies it. Understanding how chops work, what types exist and how to manage them correctly is necessary for any foreign-invested enterprise.
- [Six challenges of doing business in China](https://china.acclime.com/guides/challenges-of-doing-business-china/): Foreign companies often encounter numerous legal and administrative obstacles when entering and operating in the Chinese market. To help navigate these challenges and avoid common pitfalls, this guide outlines the key hurdles you may face. Below are the six main challenges of doing business in China.
- [Key compliance requirements for companies in China](https://china.acclime.com/guides/compliance-requirements/): Operating a company in China involves a structured set of compliance obligations that span corporate governance, accounting and tax, audit and HR administration. These requirements are administered across multiple authorities and are subject to frequent change. Ongoing monitoring is therefore an essential part of running a compliant business.
- [Profit repatriation: Transferring money out of China](https://china.acclime.com/guides/profit-repatriation/): This guide explains the main methods available for profit repatriation, the compliance steps involved and the thresholds that affect how transactions are handled, so you can plan the process and prepare the right documentation before initiating a transfer.
- [How to claim social insurance as an expatriate leaving China](https://china.acclime.com/guides/how-to-claim-social-insurance/): When expatriates leave China after a period of employment, they are often entitled to reclaim part of the social insurance contributions they made during their time in the country. Many miss out on these funds simply because the process is unfamiliar or was not flagged before departure.
- [Chinese social security coverage for expatriates](https://china.acclime.com/guides/social-security-coverage/): Social security participation in China is mandatory for expatriates with valid working permits, regardless of their employment arrangement. As China continues to attract foreign talent across major centres such as Beijing, Shanghai and Guangzhou, understanding how the system applies to non-Chinese nationals has become an increasingly important part of contract negotiation, benefits planning and cost management.
- [Steps for company and turnaround management to stay afloat](https://china.acclime.com/guides/company-management-turnaround-steps/): 2020 has come and gone, and now in 2021, businesses that are still operating and battered are having to pick themselves up and keep going; however, the market has changed, and major company weaknesses may have been exposed or made evident, and now is the time for a company to assess itself and consider the possibility for a management turnaround.
- [IIT equity incentives for expats filing their taxes in China](https://china.acclime.com/guides/iit-equity-incentives-for-expats-filing-their-taxes/): China continues to attract international businesses, driving strong demand for foreign talent and expertise. To recruit and retain skilled professionals, many companies offer equity incentives as a key component of their remuneration packages.
- [Audit roles and categories in China](https://china.acclime.com/guides/audit-categories-roles/): Audits are a core part of financial compliance in China, yet the distinctions between different audit types and their practical purposes are not always well understood.
- [Opening a corporate bank account in China](https://china.acclime.com/guides/opening-corporate-bank-account/): Opening a corporate bank account in China has always been fairly straightforward. However, regulatory compliance at Chinese banks is becoming increasingly strict which is cause problems to foreign investors.
- [Registering a company in Hong Kong for Chinese investors](https://china.acclime.com/guides/company-registration-hong-kong/): Hong Kong has long been one of the most popular registration destinations for foreign investors with interests in mainland China. Its straightforward incorporation process, simple tax system, absence of foreign exchange controls and proximity to the mainland make it a practical complement to a China operational structure, whether as a holding company, an intermediate entity for profit repatriation or a stepping stone before committing to full WFOE incorporation.
- [Understanding HR compliance requirements in China](https://china.acclime.com/guides/hr-compliance-requirments/): This guide covers the most critical HR compliance requirements under the PRC Labour Law and Labour Contract Law, including employment contracts, foreign employee obligations and termination procedures.
- [Managing workforce reductions in China](https://china.acclime.com/guides/hr-compliance/): As China transitions from an export-driven hub for cheap manufacturing to a domestic base of value-added consumerism, while at the same time experiencing a multi-year economic slowdown, companies are being forced to make difficult choices.
- [Normal vs simple company deregistration China](https://china.acclime.com/guides/normal-vs-simple-company-cancellation/): Companies closing in China can follow one of two voluntary deregistration routes: normal deregistration or simple deregistration. The right choice depends on the company's financial and operational history and selecting the wrong route can cause delays that extend the process significantly.
- [Three key factors when registering a foreign company in China](https://china.acclime.com/guides/the-3-key-factors-when-registering-a-foreign-company-in-china/): There are many articles about setting up a foreign company in China, often also called WFOE (wholly foreign-owned enterprise) or FIE (foreign-invested enterprise), but we want to focus on the three key factors that should drive the decision-making process.
- [Running a company in China from a distance: Five key elements](https://china.acclime.com/guides/running-china-company-from-distance-5-key-elements/): There are estimated to be over 700,000 different business books in the world, and a significant portion of those books are about managing a company. The amount of literature on management shows the importance and difficulty of managing a business. There are many different crucial components to running a business and being close to the operations of the company is definitely one. So how do you deal with management when you are not close, but thousands of kilometers from the office, the team and the business?
- [Eight common mistakes when setting up a business in China](https://china.acclime.com/guides/common-mistakes-setting-up-business-in-china/): Stories are numerous about telling how Western companies conquered the Chinese market at lightning speed, seemingly without any hiccups. But what can you, as a reader, learn from such stories? We believe a moment of crisis and problems are the real source of lessons that can be learned. One of our most-read articles was “Eight Common Mistakes When Setting up Business in China”. This article was shared often, but still, we get asked the same questions.
- [Signing a memorandum of understanding (MOU) in China](https://china.acclime.com/guides/mou-signing/): A memorandum of understanding (MOU) is often the first formal step in a business partnership in China. For foreign companies accustomed to treating an MOU as a loose, non-binding document, the Chinese context requires a different approach. Under Chinese civil law, an MOU carries more legal weight than in common law jurisdictions, and the signing ceremony itself plays a meaningful role in establishing the relationship.
- [Ensuring safe payments into and out of China](https://china.acclime.com/guides/safe-payment/): China operates a tightly regulated foreign exchange framework that governs how funds move across its borders, administered by multiple regulatory bodies, including the State Administration of Foreign Exchange (SAFE), the banking system and the tax bureau. Cross-border transfers are achievable in the ordinary course of business provided the purpose is clearly established and the supporting documentation is in order.
- [How to choose a Chinese company name](https://china.acclime.com/guides/chinese-company-names/): Selecting an appropriate Chinese company name is an important step in establishing a business presence in China, with the chosen name affecting brand recognition, market perception and long-term commercial success. For foreign companies, the process requires balancing linguistic, cultural and strategic considerations.
- [Chinese business license: What it is and how to use it](https://china.acclime.com/guides/chinese-business-license/): China's National Unified Electronic Business License System allows companies to access and share a digital version of their business licence. It can be used for e-signature processes and official filings and is increasingly accepted across government agencies, financial institutions and business counterparties, reducing the need to present or courier physical copies. Companies can access their digital licence through the SAMR online platforms.
- [Guidance on cross-border mergers and acquisitions in China and abroad](https://china.acclime.com/guides/gateway-to-cross-border-mergers-acquisitions/): China remains one of the most active M&A markets globally, attracting both inbound investment from foreign companies seeking market access and outbound investment from Chinese companies expanding internationally. The regulatory framework governing cross-border transactions involves multiple authorities with overlapping jurisdictions, and procedural missteps can delay or derail a deal.
- [Establishing a foreign company in China](https://china.acclime.com/guides/establishing-company-china/): Setting up a business in China involves multiple government bodies, a layered regulatory framework and entity-specific compliance requirements. The process can take anywhere from a few weeks to several months depending on the type of entity, the business scope and the location chosen.
- [Comparing mainland China and Hong Kong’s tax systems](https://china.acclime.com/guides/comparing-mainland-china-hong-kong-tax-systems/): Mainland China and Hong Kong each maintain distinct tax systems shaped by their separate legal and regulatory environments. While China applies a centrally administered regime with a broad range of taxes, Hong Kong follows a simpler, territorial-based approach.
- [Closing a company in China: Deregistration, liquidation and bankruptcy](https://china.acclime.com/guides/company-deregistration-liquidation-filling-for-bankruptcy/): This guide explains the reasons companies close in China, the available routes, the step-by-step voluntary deregistration process and the common pitfalls to avoid.
- [Understanding China’s VAT system](https://china.acclime.com/guides/calculate-vat-rebates/): General taxpayers are subject to a 13% output VAT rate, while VAT refund rates vary depending on the product. A higher VAT rebate on exported goods reduces non-exempted and non-creditable VAT, lowering VAT payable overall. If VAT payable is negative, the exporter may be eligible for a refund, subject to regulatory limits.
- [Legal representative roles and responsibilities in China](https://china.acclime.com/guides/legal-representative-power-limitation-risk/): The role of a legal representative is a central feature of corporate governance in China and reflects the country’s evolving legal and business environment. Under the Company Law of the People’s Republic of China, each company needs to appoint a single legal representative who is authorised to act on its behalf in legal and commercial matters. Unlike in many Western jurisdictions, the role carries specific statutory authority and responsibilities defined by law, making it an important consideration for companies establishing or operating in China.
- [Structuring China investment through a Hong Kong holding company](https://china.acclime.com/guides/hong-kong-holding-company-location-investments-mainland-china/): For foreign investors with operations in mainland China, the choice of holding jurisdiction is a fundamental decision. The holding company sits between the ultimate investor and the China operating entity, and its location determines the tax treatment of dividends, the capital gains exposure on exit, the ease of profit repatriation and the credibility of the structure under increasing international scrutiny.

## News and insights
- [China ends tax exemption on dividends received by foreign individuals](https://china.acclime.com/news-insights/tax-exemption-ended-dividends-foreign-individuals/): China’s Ministry of Finance (MOF) and State Taxation Administration (STA) have issued Announcement No. 27 of 2026, ending the long-standing individual income tax exemption on dividends received by foreign individuals from foreign-invested enterprises (FIEs).
- [China’s new individual income tax rules for offshore trusts](https://china.acclime.com/news-insights/new-individual-income-tax-rules-offshore-trusts/): On 24 July 2026, the Ministry of Finance (MOF) and the State Taxation Administration (STA) jointly issued the Announcement on Matters Concerning Individual Income Tax on Offshore Trusts (Announcement No. 21 of 2026, referred to here as Bulletin 21). On the same day, the STA issued a supplementary administrative announcement (Announcement No. 15 of 2026, Bulletin 15). This marks China's first regulatory framework governing the individual income tax (IIT) lifecycle of offshore trusts, covering funding, duration, termination, status alteration and inheritance, with retrospective effect to 1 January 2023.
- [China tax enforcement trends from recent investigation cases](https://china.acclime.com/news-insights/tax-enforcement-trends-investigation-cases/): China tax enforcement entered a more data-led phase across 2025 and into 2026, with national tax authorities publicly exposing more than 560 violation cases. Export rebate fraud, concealed income and false invoicing remained the main enforcement targets, and cases in the electric vehicle, lithium battery and solar sectors were disclosed for the first time.
- [Why foreign companies still misread China’s business environment](https://china.acclime.com/news-insights/why-foreign-companies-misread-business-environment/): Foreign companies have been entering China for decades, but the assumptions that once drove those decisions are increasingly out of step with what the market now requires. Once a low-cost manufacturing base, the pace at which businesses now operate in China has outrun many of the internal timelines that European companies apply to their China operations, and the domestic consumer market has matured in ways that demand a different kind of commitment.
- [China’s Fapiao 2026: regulatory updates and emerging trends](https://china.acclime.com/news-insights/chinas-fapiao-2026/): China's fapiao system is operating under a significantly different set of rules in 2026. The nationwide rollout of fully digitised e-fapiao is complete, the VAT Law came into effect on 1 January 2026 and Golden Tax Phase IV has moved the system from invoice management to continuous transaction monitoring. For foreign-invested enterprises, the practical compliance requirements have shifted considerably as a result.
- [China Shock 2.0: Rethinking global supply chains in 2026](https://china.acclime.com/news-insights/china-shock-2-global-supply-chains-2026/): For the better part of a decade, the dominant supply chain strategy among multinationals centred on reducing dependence on China. Pandemic disruptions, rising labour costs and geopolitical uncertainty drove companies to diversify, with the China+1 model emerging as the prevailing approach. Under this model, businesses retained core China operations while building secondary capacity in Southeast Asia, with Vietnam, Malaysia and Thailand attracting significant investment.
- [China’s consumption tax reform: what foreign businesses need to know](https://china.acclime.com/news-insights/consumption-tax-reform/): China's consumption tax system is at a turning point. Following years of incremental adjustment, the 15th Five-Year Plan has set a clear reform direction: shift the tax collection node from production to consumption, delegate revenue to local governments and expand the taxable scope to cover emerging luxury goods and green development priorities. For foreign businesses operating in China (particularly those in manufacturing, retail, alcohol, cosmetics, petroleum or automotive sectors), understanding how the system works today and where it is heading has direct operational relevance.
- [Navigating corporate income tax in China as a foreign investor](https://china.acclime.com/news-insights/navigating-corporate-income-tax/): China's Corporate Income Tax (CIT) framework has matured significantly over the past two decades, moving from a complex dual-track system (one set of rules for domestic enterprises, another for foreign-invested companies) to a single, unified standard that applies to all businesses equally. For foreign investors operating in or entering China, understanding how the current system is structured, what incentives are available and where reform is headed under the 15th Five-Year Plan is essential for sound financial and operational planning.
- [What China’s 15th Five Year Plan means for foreign businesses](https://china.acclime.com/news-insights/china-five-year-plan-foreign-business-strategy/): China's 15th Five Year Plan covers 2026 to 2030 and has been closely watched by international businesses trying to read Beijing's direction. On the surface it continues many familiar themes, but a closer look reveals a significant shift in tone, framing and priority.
- [China’s Individual Income Tax: Existing framework and development trend](https://china.acclime.com/news-insights/individual-income-tax/): China’s Individual Income Tax (IIT) system is entering a decisive phase of reform. Driven by global tax transparency standards and domestic policy priorities, IIT is shifting from a relatively fragmented framework to a more integrated and technology-enabled system. Developments such as the expansion of the Common Reporting Standard (CRS) and the continued rollout of the Golden Tax System have enhanced the visibility of income and assets both onshore and offshore.
- [Core differences and compliance guidelines under the new 2026 VAT regulations](https://china.acclime.com/news-insights/vat-regulations-2026/): Since the implementation of the "Value Added Tax Law of the People's Republic of China" and its accompanying regulations on 1 January 2026, the tax rules governing the human resources service industry have undergone a fundamental restructuring. This reform represents an upgrade across the entire chain, from business characterisation and tax calculation methods to compliance standards, aimed at shifting the industry's focus from "tax-driven" practices back to "business substance." Clearly distinguishing between labour dispatch, human resource outsourcing and labour outsourcing has become the cornerstone of corporate tax compliance and strategic decision-making.
- [China’s amended Cybersecurity Law and its key changes for foreign businesses](https://china.acclime.com/news-insights/amended-cybersecurity-law/): China has introduced significant amendments to its Cybersecurity Law (CSL), which took effect on 1 January 2026. The revisions expand the law's scope, raise penalties and bring it into closer alignment with China's broader data governance framework with direct implications for foreign-invested companies operating in or with China.
- [“In China for China” helps reduce supply chain disruption](https://china.acclime.com/news-insights/supply-chain-disruption/): China's economic strategy has evolved significantly in recent years, shaped by the rollout of the 15th Five-Year Plan (2026-2030) and a sustained focus on domestic market resilience.
- [China’s 2026 tax reform and what the Two Sessions mean for business](https://china.acclime.com/news-insights/tax-reform-2026/): China's 2026 Government Work Report and draft budget mark the opening policy framework of the 15th Five-Year Plan, setting out a sweeping overhaul of the country's fiscal and tax system. For businesses operating in China, the reforms signal a fundamental shift in how compliance, incentives and government relations are structured over the next five years.
- [China visa-free travel policies (2026)](https://china.acclime.com/news-insights/china-visa-free-travel-policies/): With the significant expansion of visa-free entry and transit programmes since late 2024, China is once again opening its doors to the world, making it easier for international travellers to visit for tourism, business, family visits and short-term exchanges. As of March 2026, ordinary passport holders from 50 countries enjoy unilateral 30day visa-free entry, while 55 countries qualify for the upgraded 240-hour (10-day) visa-free transit across an expanded network of ports and provinces.
- [China’s new export tax refund measures: compliance changes in 2026](https://china.acclime.com/news-insights/china-export-tax-refund-measures/): Since the new VAT Law and its Implementation Regulations came into effect on 1 January 2026, China’s tax administration framework has entered a more refined and systematised phase. A key milestone in this transition is the issuance of State Taxation Administration Announcement No. 5 of 2026, which promulgates the Administrative Measures for VAT and Consumption Tax Refund Exemption on Export Businesses. These New Measures formally replace Announcement No. 24 of 2012, which had governed export tax refunds for more than a decade.
- [China’s 2026 VAT supporting documents and what enterprises should do next](https://china.acclime.com/news-insights/vat-law-supporting-documents/): On 30 January 2026, the Ministry of Finance and the State Taxation Administration issued seven key supporting announcements for China's Value-Added Tax Law and its Implementation Regulations, which took effect on 1 January 2026. These announcements clarify critical matters including the scope of taxation, preferential policies and collection and administration procedures, marking the full entry of China's VAT system into the 'law-based era'.
- [Hainan island special customs supervision zone: A new era of high-standard opening](https://china.acclime.com/news-insights/hainan-special-customs-supervision-zone/): On 18 December 2025, Hainan Free Trade Port (FTP) launched its full-island special customs supervision operations. This represents a significant shift in China's approach to institutional opening and creates new opportunities for businesses operating across the Asia-Pacific region.
- [China VAT law with key insights on the implementation regulations](https://china.acclime.com/news-insights/vat-law-implementation-regulations-2026/): On 1 January 2026, China implemented its first Value-Added Tax Law and supporting implementation regulations, marking a significant shift in the country's largest tax category. This legislative upgrade consolidates existing policies while introducing changes that will impact how businesses operate, particularly those engaged in cross-border transactions.
- [Acclime appoints Alfred Gan as Regional Managing Director, Head of North Asia](https://china.acclime.com/news-insights/acclime-appoints-alfred-gan-regional-md/): Acclime, a leading corporate services provider, recently announced the strategic appointment of Alfred Gan as Regional Managing Director, North Asia. Based in Shanghai, Alfred will oversee business operations and strategic development across the Chinese Mainland, Hong Kong, Macau, Taiwan and South Korea. This move underscores Acclime's commitment to enhancing integrated regional service capabilities and delivering tailored solutions.
- [Growth and opportunities in China’s medical device market](https://china.acclime.com/news-insights/medical-device-market/): China’s medical device industry has emerged as one of the most dynamic and rapidly expanding sectors within the global healthcare landscape. As the world’s second-largest healthcare market after the United States, China is experiencing a transformative shift driven by demographic changes, technological innovation, policy reforms, and rising healthcare consumption. With a market size surpassing CNY 1,200 billion in 2024 and a compound annual growth rate of 18.2% since 2015, the industry has consistently outpaced national GDP growth.
- [China outbound investment: Trends and outlooks](https://china.acclime.com/news-insights/china-outbound-investment-trends-outlooks/): Positioned at the heart of Asia, Hong Kong provides businesses with seamless connectivity to major global markets, including ASEAN, the United States and Europe. As a Special Administrative Region (SAR) of China, Hong Kong benefits from unique trade privileges under the Closer Economic Partnership Arrangement (CEPA), which grants preferential access to the Chinese mainland market and China outbound investments.
- [Trade dynamics in Asia: Key products of China, India and Vietnam](https://china.acclime.com/news-insights/trade-dynamics-asia-key-products-china-india-vietnam/): Trade values between nations provide a clear perspective on the intricacies of economic relationships and resource allocation. Analysing trade balances and import-export data reveals patterns that define a country’s economic framework. By examining the interaction between imports and exports, we uncover valuable insights into trade dynamics, economic growth, and the role of key foreign product categories.
- [Overview of China’s economic landscape in 2025](https://china.acclime.com/news-insights/2025-economic-landscape/): The global economy in 2025 is navigating through a complex web of challenges and opportunities. Shifts in geopolitical dynamics, fluctuating interest rates and evolving trade patterns are redefining companies' investment and business strategies worldwide. In Asia, the interplay of domestic demand, structural transitions and policy reforms is creating a unique economic environment that businesses must adapt to for sustained growth.
- [Acclime enters strategic partnership with Danish Industry](https://china.acclime.com/news-insights/danish-industry-partnership/): Acclime, providing businesses with corporate, governance, and advisory services throughout Asia and major markets, announces today that it has entered a strategic partnership with Danish Industry (DI) to provide high-end corporate and professional services to the members of DI in the markets where Acclime operates.
- [Data security in China: New cross-border data regulations](https://china.acclime.com/news-insights/data-security-cross-border-data-regulations/): Data processors in the FTZ that provide data outside the Negative List to foreign countries may be exempt from outbound data security assessments, standard contracts for personal information transfers and personal information protection certification.
- [China telecom: Strategic entry via new pilot program](https://china.acclime.com/news-insights/china-telecom-strategic-entry-pilot-program/): China’s telecommunications sector has been long dominated by the Big Three state-owned enterprises: China Unicom, China Mobile and China Telecom. Collectively, they control most of the telecommunications infrastructure, thereby limiting market entry for foreign companies.
- [China’s semiconductor industry: The path to self-sufficiency](https://china.acclime.com/news-insights/semiconductor-industry/): China's semiconductor industry has seen significant strategic investments and initiatives to bolster its position in the global market. The country has focused on advancing node manufacturing, with companies like Semiconductor Manufacturing International Corporation (SMIC) making notable progress in producing smaller, more efficient semiconductor components.
- [China’s pet food industry in 2024: Trends and Insights](https://china.acclime.com/news-insights/pet-food-industry/): Cats and dogs have always been favourite pets and account for a large proportion of global pet food revenue. This is not different in the Chinese market. According to iResearch, the total pet industry in China was valued at EUR 36.3 billion in 2023, registering a compound annual growth rate (CAGR) of 23.2% from 2012 to 2023. The pet market size is expected to reach EUR 104.3 billion in 2025.
- [Mobile payments in China: A paradigm shift shaping the future of transactions](https://china.acclime.com/news-insights/mobile-payments-paradigm-shift-future-transactions/): In China, mobile payment platforms like Alipay and WeChat Pay are now ubiquitous, making cash use the exception rather than the norm. Unlike the West, where cash and credit cards still dominate, street vendors, taxi drivers, and small businesses all commonly accept mobile payments in China. This widespread adoption can be attributed to several factors.
- [How foreign investments fuel China’s research and development (R&D) surge](https://china.acclime.com/news-insights/foreign-investments-fuel-china-rd-surge/): China's commitment to becoming a global innovation leader has ushered in a series of transformative policy measures to enhance foreign investment in research and development (R&D). This strategic move is not merely about enhancing China's technological capabilities; it's an open invitation for global businesses to participate in one of the most dynamic R&D ecosystems in the world.
- [E-commerce in China vs. the West: Exploring contrasts and differences](https://china.acclime.com/news-insights/e-commerce-china-vs-the-west-exploring-contrasts-and-differences/): In China, certainly more than in any other country, e-commerce has revolutionised how people purchase goods and services. Transcending geographical boundaries and cultural differences, initially, the Western world was at the forefront of this digital transformation, with companies like Amazon, eBay, and others. However, in recent times, China has rapidly emerged as a powerhouse in the e-commerce landscape, boasting some of the world's largest online retail platforms.
- [The Greater Bay Area in 2024: Foreign investment destination profile](https://china.acclime.com/news-insights/greater-bay-area-2024-foreign-investment-destination-profile/): The Greater Bay Area of China has been in many investors’ thoughts ever since the Chinese government started to actively promote it as an investment destination in the second half of the 2010s.
- [Exploring the revisions to China’s corporate law: Implications and insights for LLCs](https://china.acclime.com/news-insights/exploring-the-revisions-to-chinas-corporate-law-implications-and-insights-for-llcs/): Towards the end of 2023, after several years of revisions and discussions, China released a fresh Company Law set to be enforced starting from July 1, 2024. This legislation is poised to influence foreign investors operating in China significantly.
- [Navigating the trends and regulatory terrain of the food & beverage market in China](https://china.acclime.com/news-insights/navigating-the-trends-and-regulatory-terrain-of-the-food-beverage-market-in-china/): In recent years, the impact of the COVID-19 pandemic on our daily lives and the value of health has become increasingly apparent. Coupled with driving forces like convenience and innovation, these trends have become paramount in shaping the landscape of China’s food and beverage industry. Today, Chinese consumers exhibit a more noticeable awareness of Health and Food Safety, a shift that underscores evolving preferences.
- [Beijing’s plan to open up the services sector to attract FDI](https://china.acclime.com/news-insights/beijings-plan-to-open-up-the-services-sector-to-attract-fdi/): In November 2023, the State Council of China approved a comprehensive plan to expand and advance Beijing's service sector. This strategic initiative, known as the Working Plan for Supporting Beijing in Deepening the Construction of a Comprehensive Demonstration Zone for the Expansion and Opening Up of the National Service Industry, delineates 23 specific tasks to propel the city's service industry. Notably, a significant portion of these tasks are dedicated to fostering increased involvement of international enterprises.
- [Annual closing: Essential procedures for a smooth transition](https://china.acclime.com/news-insights/annual-closing-essential-procedures-for-a-smooth-transition/): As the year draws to a close, businesses must prepare for the annual closing process. Year-end closing involves various accounting procedures to finalise the previous year's business activities, carry forward balances, and prepare for the upcoming year. This article outlines the key steps and considerations for a successful year-end closing in 2023.
- [Navigating the latest regulations and possibilities for business visa applications in China](https://china.acclime.com/news-insights/business-visa-applications-china/): In 2023, acquiring visas for China saw a notable increase in accessibility. As globalisation continues to reshape the world, visiting China for business purposes remains important. Staying well-informed about the recent regulations and possibilities related to applying for visas to China is crucial.
- [Pre-tax additional deduction for R&D expenses in China](https://china.acclime.com/news-insights/pre-tax-additional-deduction-for-rd-expenses-in-china/): In order to further encourage enterprises to increase investment in research and development (R&D) activities, and to better support technological innovation, the Ministry of Finance and the State Tax Administration jointly issued the latest announcement about the pre-tax additional deduction for R&D expenses in March 2023.
- [China issues 24 new measures in clear directive to boost foreign investment](https://china.acclime.com/news-insights/china-issues-24-new-measures-in-clear-directive-to-boost-foreign-investment/): According to the National Bureau of Statistics, China experienced a 6.3% growth in GDP during the second quarter of 2023, albeit starting from a relatively low point. Nevertheless, when comparing this growth to the first quarter, the increase in China's GDP from April to June was merely 0.8%, a significant drop from the 2.2% quarter-on-quarter growth observed in Q1. Regarding foreign direct investment (FDI), China received a total of USD 84.35 billion from January to May 2023, marking a 5.6% decline compared to the previous year. Moreover, FDI in the first half of 2023 decreased by 2.7%.
- [Fintech in China: An overview](https://china.acclime.com/news-insights/fintech-overview/): In recent years, China has emerged as a global powerhouse in financial technology (fintech). China's unique combination of a tech-savvy population, cutting-edge technological infrastructure, and robust innovation ecosystems has driven the country to the forefront of the fintech revolution.
- [Boosting small business growth: Exciting tax incentives unveiled in China for 2023](https://china.acclime.com/news-insights/boosting-small-business-growth-exciting-tax-incentives-2023/): Small businesses play a pivotal role in driving China's economic growth. Due to their smaller scale and limited financial resources, these businesses often face challenges in making large-scale investments. To address this, China is actively cultivating an enabling business environment that promotes the expansion of small enterprises.
- [China’s new guidelines for exporting personal information](https://china.acclime.com/news-insights/chinas-new-guidelines-for-exporting-personal-information/): China’s laws protecting personal data were recently updated with the announcement of two new Standard Contractual Clauses (SCCs). These are known as the SCC Measures and SCC Guidelines and are part of China’s efforts to protect privacy along the lines of the EU’s GDPR (General Data Protection Regulation).
- [China’s preferential income tax policies for micro and small enterprises with thin profit](https://china.acclime.com/news-insights/preferential-income-tax-policies-micro-small-enterprises/): Recently, the Ministry of Finance (MOF) and the State Taxation Administration (STA) have jointly issued the announcement on “Preferential income tax policies for micro and small enterprises with thin profit and individually-owned businesses”, MOF and STA Announcement No. 6, and STA also issued announcement on “Issues relating to the implementation of corporate income tax incentives for micro and small enterprises with thin profit”, STA Announcement No.6 (the announcements).
- [Audit of foreign invested enterprises in China](https://china.acclime.com/news-insights/foreign-invested-enterprises-audit/): Foreign Invested Enterprises (FIE) refer to companies founded in China by foreign enterprises, economic organisations or individuals, the registered capital of which is subscribed and contributed by a foreign investor(s).
- [PRC annual individual income tax filing for 2022](https://china.acclime.com/news-insights/individual-income-tax-filing-2022/): As you may know, the PRC annual Individual Income Tax (IIT) filing for 2022 is coming soon. The PRC annual IIT filing has been a tax declaration requirement since 2019. It serves as a key process to ensure taxpayers can enjoy all the deductions and tax benefits of the year and ensure the correct IIT refund or settlement.
- [Interpretation of China’s catalogue of encouraged industries for foreign investment & tax exemption policies](https://china.acclime.com/news-insights/encouraged-industries-foreign-investment/): On 28 October 2022, the National Development and Reform Commission and the Ministry of Commerce released the Catalogue of Encouraged Industries for Foreign Investment (2022 Edition). The Catalogue, which came into force on 1 January 2023, is an important foreign investment promotion policy in China, as well as an important foreign asset industry and regional policy, listing specific industries, fields and regions that the government encourages and guides foreign investors to invest.
- [One-time deduction policy for fixed assets](https://china.acclime.com/news-insights/one-time-deduction-policy-for-fixed-assets/): On 7 May 2018, the Ministry of Finance of the People's Republic of China and the State Administration of Taxation jointly released the Notification about the Policy of Enterprise Income Tax Deduction for Equipment "CAISHUI No. 54", a new policy regarding enterprise income tax.
- [Bonded warehouse: The efficient option when selling to China](https://china.acclime.com/news-insights/bonded-warehouse-efficient-option-selling-to-china/): The internationalisation of trade has brought many benefits for companies but also presents new challenges to overcome.
- [Lithium industry in China: Overview](https://china.acclime.com/news-insights/lithium-industry-china/): Lithium is one of the fastest-growing high-tech metals and plays a vital role in emerging industries. Since 2020, flourishing sales of new electric vehicles (BEV, PHEV) and government policy stimulations have led to an unprecedented demand shock in the global market.
- [China’s SAMR introduces new rules to advance the classified management of enterprises’ credit risks](https://china.acclime.com/news-insights/new-rules-advance-classified-management-enterprises-credit-risk/): On January 13, 2022, the State Administration for Market Regulations (SAMR) issued the Opinions of the State Administration for Market Regulations on Advancing the Classified Management of Enterprises' Credit Risks to improve regulatory efficiency, accuracy and effectiveness of regulations.
- [Acclime strengthens presence in Greater China via the merger with Fiducia Management Consultants](https://china.acclime.com/news-insights/acclime-fiducia-merger/): Acclime has expanded its footprint in Greater China with the strategic merger with leading advisory and outsourcing business, Fiducia Management Consultants.
- [China’s steps to achieve carbon neutrality through green bonds](https://china.acclime.com/news-insights/chinas-steps-to-achieve-carbon-neutrality-through-green-bonds/): A vibrant green bonds market is desirable for China because it not only promotes environmental protection and sustainability even amid rapid economic development but also introduces a diversified portfolio into the capital market to alleviate climate challenges. Moreover, it reflects the determination of decreasing carbon emissions and enhancing the environment in China.
- [Pre-tax additional deduction for R&D expenses](https://china.acclime.com/news-insights/pre-tax-additional-deduction-rd-expenses/): In the last two years, the Chinese government implemented various measures to encourage companies to engage in R&D activities. Among these measures, the Pre-Tax Additional Deduction for Research and Development Expenses Policy is the most important.
- [Elderly care industry in China: Overview](https://china.acclime.com/news-insights/elderly-care-industry/): However, as the country’s economic, migratory and working patterns change against the backdrop of an ageing population, the new demand for quality elderly care has set off the rapid privatisation of China’s elderly care industry.
- [Furniture industry in China: Overview](https://china.acclime.com/news-insights/furniture-industry/): The Chinese furniture industry is the biggest of its kind in the world. It is also one of the leading producers, consumers, and exporters of furniture.
- [Agricultural industry in China: Overview](https://china.acclime.com/news-insights/agricultural-industry/): China has a long history of farming and a tradition of intensive cultivation. Its rural population is reported to be over 500 million strong. China’s modern agricultural industry was under strict local and national government control until the late 1980’s when the reform and opening policies led to a more market-based approach to the agricultural industry in China. Particularly, in recent years the government has abided by giving priority to the work of agriculture, rural areas, and farmers.
- [Driving sales channels in China’s ‘new normal’](https://china.acclime.com/news-insights/driving-sales-channels-chinas-new-normal/): Although consumer spending has slowed since the onset of the pandemic, many of our Clients continue to project healthy sales growth. As the consumer market continues to transform, affected by many factors, including population change, increasing internet usage, and changing consumer behaviour, new opportunities emerge.
- [Localising your production in China](https://china.acclime.com/news-insights/localising-production-in-china/): Amid geopolitical tensions with the United States and the impact of the global pandemic, China sought to stabilise its economy by focusing on its domestic market and incentivising companies to produce locally “in China for China” (ICFC).
- [New legislation in China allows a company to register as “dormant” to allow companies to be maintained if no activity](https://china.acclime.com/news-insights/new-legislation-register-company-dormant/): In March 2022, new policies came about, allowing companies to go into dormant mode. This was in response to companies that wanted to remain in China but struggled during the current economic conditions because of Covid.
- [Sourcing in China in 2023 & beyond](https://china.acclime.com/news-insights/sourcing-china-2023-beyond/): The recent turbulences have resulted in unprecedented disruption to business operations. At the same time, they brought about opportunities to implement bold operational changes.
- [China’s bailout and support extended again for the service industry and more](https://china.acclime.com/news-insights/china-bailout-support-extended-service-industry/): The policies propose measures from several aspects, generally revolving around inclusive bailout and support, and include various industries, as discussed in this article.
- [China SMEs taxes and surcharges can be deferred for six months](https://china.acclime.com/news-insights/china-smes-taxes-and-surcharges-can-be-deferred-for-six-months/): China has extended preferential tax policies, including deferring taxes and surcharges for up to six months to reduce taxes for SMEs and self-employed up to 50%. In some cases, these tax benefits can be added to other benefits already implemented in the business.
- [Acclime consolidates its growing presence in China with the rebranding of LehmanBrown International](https://china.acclime.com/news-insights/lehmanbrown-international-rebrands/): Acclime, the premier corporate services provider in Asia, is pleased to announce today that LehmanBrown International Accountants in China has completed its integration with the Acclime group of companies. Following the acquisition by Acclime late last year, LehmanBrown International Accountants has now fully rebranded as part of Acclime China. This move brings Acclime’s headcount in China to over 200, and over 700 across the whole group.
- [Why a “tax health check” is important in China](https://china.acclime.com/news-insights/tax-health-check/): This means that the Chinese tax authorities will achieve the transition from tax management by invoices to tax management by numbers in the near future. Under the tighter monitoring of this new and powerful tax system, companies will have to become more transparent and more likely to be exposed to potential tax risks, leading to severe penalties. In response, companies are strongly recommended to perform a tax health check to ensure they are in good shape.
- [Preferential tax policy for expatriate fringe benefits extended to 31st December 2023](https://china.acclime.com/news-insights/preferential-tax-policy-expatriate-fringe-benefits-extended/): On 31 December 2021, the Ministry of Finance and the State Administration of Taxation of the People's Republic of China announced that the preferential tax treatment of fringe benefits for expatriates working in China will be extended to 31 December 2023.
- [Preferential policies of individual income tax on bonuses are extended to December 2023](https://china.acclime.com/news-insights/preferential-policies-individual-income-tax-bonuses-extended/): On 29 December, 2021, Premier Li Keqiang chaired an executive meeting of the State Council where it was decided to continue the implementation of some preferential policies on individual income tax.
- [Why use financial outsourcing in China](https://china.acclime.com/news-insights/why-use-financial-outsourcing/): Nowadays, financial outsourcing, a new financial management model, has become more widely used, outsourcing versus insourcing.
- [Five tips for staying tax compliant in China](https://china.acclime.com/news-insights/tips-for-staying-tax-compliant/): While the Chinese government has been very active in issuing new regulations over the last 12 months, there is still much uncertainty about how these will be enforced. Here are some compliance tips you can implement to set yourself up for a smooth transition and guard yourself against potential problems.
- [Setting up a foreign private equity fund in China](https://china.acclime.com/news-insights/setting-up-foreign-private-equity-fund/): In April 2020, the Chinese government removed the limits on foreign ownership of fund management, securities, futures, life insurance, and currency brokerage firms. They implemented the decision one year earlier than it was initially scheduled. Previously, foreign financial firms could only obtain a minority stake in a Chinese joint venture.
- [Acclime expands in China with LehmanBrown merger](https://china.acclime.com/news-insights/lehmanbrown-merger/): Acclime has completed a merger with LehmanBrown International Accountants in China as it continues to grow to be a leader in the PRC market.
- [Why enter Shanghai’s free trade zone](https://china.acclime.com/news-insights/why-enter-shanghais-free-trade-zone/): Free Trade Zones (FTZs) have long been part of China’s expansion and a way of encouraging foreign companies to invest and do business in China. Over time, China has been adding preferential policies to make the FTZs more and more appealing, each zone having its own individual and unique characteristics.
- [China’s current consumer bankruptcy situation](https://china.acclime.com/news-insights/china-consumer-bankruptcy-situation/): With the current global unstable economic situation and China's proactive approach to cracking down on debt, LehmanBrown International Accountants collaborated with BIRT International Restructuring to look into how China deals with Consumer Bankruptcy.
- [Environmental protection in China: Opportunities in a green economy](https://china.acclime.com/news-insights/environmental-protection-in-china/): At the National Conference on Ecology and Environmental Protection, President Xi Jinping indicated that China would battle against pollution and develop an ecological civilisation. With the stated goal of controlling pollution and reversing environmental problems, there are now commercial opportunities to join in the efforts to protect the environment.
- [Why location analysis is key when setting up a regional headquarters in Asia](https://china.acclime.com/news-insights/why-location-analysis-is-key-when-setting-up-a-regional-headquarters-in-asia/): Asia’s booming economic growth amid continued global economic uncertainty is an enticing offer for companies looking to expand outside their home markets. But given the diversity of culture, language, and legal and regulatory frameworks in the region, determining the right location for a subsidiary in Asia is a complex decision. Choosing the wrong location can be a costly mistake.
- [Overcoming challenges in global supply chains](https://china.acclime.com/news-insights/overcoming-challenges-global-supply-chains/): The COVID-19 pandemic exposed the fragility of global business operations, with particular disruption to cross-border supply chains. For companies dependent on production in China, the impact was great.
- [IIT, CIT and VAT tax relief for self-starters and SMEs](https://china.acclime.com/news-insights/iit-cit-and-vat-tax-relief-for-self-starters-and-smes/): With all this in mind, China has announced very beneficial tax relief, which aims to protect self-employed and SMEs while continuing to achieve goals from its national agenda regarding R&D.
- [Revenue recognition of international trade business under new revenue accounting standards](https://china.acclime.com/news-insights/revenue-recognition-international-trade-business-under-new-revenue-accounting-standards/): In July 2017, the Ministry of Finance issued the Accounting Standards for Business Enterprises No. 14-Revenue (hereinafter as the New Standard). The New Standard is convergent with International Financial Reporting Standards No. 15-Revenue from Contracts with Customers.
- [New revenue accounting standards for international trade business](https://china.acclime.com/news-insights/accounting-standards-for-international-trade/): In July 2017, the Ministry of Finance issued the “Accounting Standards for Business Enterprises No. 14-Revenue” (hereinafter as ‘the New Standard’). The New Standard is convergent with “International Financial Reporting Standards No. 15-Revenue from Contracts with Customers”.
- [Chinese fapiao (legal invoices) and trends in digitisation](https://china.acclime.com/news-insights/fapiao/): In January 2021, over 25 regions entered China’s pilot program for digital special VAT fapiao or e-fapiao. What started as a trial in Ningbo during the second half of 2020 was rapidly expanded towards other areas of China.
- [RCEP: Global trade’s pivot to Asia](https://china.acclime.com/news-insights/rcep-global-trades-pivot-to-asia/): The signing of the Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade agreement, marks a milestone for the Asia-Pacific region. Amid global economic uncertainty and threats of protectionism, the RCEP free trade commitment promises to speed up regional economic integration and assist post-Covid recovery.
- [Celebrating our team’s achievements in 2020](https://china.acclime.com/news-insights/team-achievements-2020/): China is one of the most difficult markets in the world to navigate as an international company, and so to have a knowledgable accounting & tax advisor can be the difference between success and failure. Therefore Acclime encourages their experts to always keep developing their knowledge and skill sets, to maximise their abilities to avoid or resolve any governmental and administrative compliance issues for our clients.
- [Tax risks for expatriates when applying for tax-free rental benefits](https://china.acclime.com/news-insights/tax-risks-for-expatriates/): The Chinese government has created these benefits to establish a favourable work environment for foreigners, which has contributed significantly to the Chinese economy's growth in recent decades. These benefits may lose effect at the end of 2021, but for now they remain an important part of an expatriate’s package in China.
- [The golden rule for exploring China by businesses: Securing a trademark](https://china.acclime.com/news-insights/golden-rule-for-exploring-china-by-businesses/): The first thing a (foreign) company should do before even considering winning the affection of 1.3 billion potential Chinese consumers is making sure that you own or apply for the trademark right to use your name and brand in China.
- [Why protecting your trademarks is a top priority for doing business in China](https://china.acclime.com/news-insights/why-protecting-your-trademarks-is-priority-for-doing-business-in-china/): Protecting your trademarks in China can be tricky, mainly where legal provisions differ from those in your legal environment. But this does not mean that you should refrain from bringing your trademarks to China.
- [Sales channels for international retailers and brands in China](https://china.acclime.com/news-insights/sales-channels-for-international-retailers-and-brands-in-china/): Despite China remaining the sourcing capital of the world, most companies nowadays enter China to sell their products, rather than to...
- [New policies impacting how non-resident companies employ Beijing staff](https://china.acclime.com/news-insights/new-policies-impacting-how-non-resident-companies-employ-beijing-staff/): In Beijing, a new policy prohibits third-party HR agencies from filing social insurance in Beijing for employees of companies not...
- [Acclime partnering with R&P China Lawyers to establish a presence in China](https://china.acclime.com/news-insights/acclime-partnering-with-rp-china-lawyers-to-establish-a-presence-in-china/): 15 July 2020, Hong Kong – Acclime, the premier corporate services provider in Asia, announces today that it has signed a cooperation agreement with R&P China Lawyers (R&P) whereby the corporate services team of the law firm will be rebranded and operate as Acclime China.
- [Cross-Border E-Commerce Pilot expands further across China](https://china.acclime.com/news-insights/cross-border-e-commerce-expands-further-across-china/): Businesses looking to enter the Chinese market can take advantage of China’s Cross-border E-Commerce Pilot which has recently been expanded twice in 2020 alone covering more cities and regions, with the promise to expand further into regions and cities across China.
- [China’s corporate social credit system: Ten questions and answers](https://china.acclime.com/news-insights/corporate-social-credit-system-questions-answers/): The Corporate Social Credit System (CSCS) is envisioned as a big-data-enabled framework to track, rate, and reward/penalise the behaviour of all businesses in China.  
- [Effects of the 2020 pandemic on accounting in China](https://china.acclime.com/news-insights/pandemic-effect-accounting/): The COVID-19 pandemic has established itself rapidly in early 2020, affecting entire countries, communities, and families. The measures taken to contain the virus have also severely affected economic activities, which in turn have implications for financial reporting. These implications include the submission of financial statements, the measurement of assets and liabilities, and possibly an entity’s ability to continue, just to name a few.
- [China business snippet: New possibilities in Beijing’s pilot free trade zone](https://china.acclime.com/news-insights/beijings-pilot-free-trade-zone/): Beijing has expanded the Pilot Free Trade Zone (FTZ) to include Beijing officially from 24 September. The FTZ comprised three substantial areas Science-tech Innovation, International Commerce Services, and High-end Industries, over an area of 119.68 square kilometres.
- [Administrative measures on accounting records in China](https://china.acclime.com/news-insights/administrative-measures-on-accounting-records-new/): The Administrative Measures on Accounting Records (the Measures) were revised and adopted by the ministerial meeting of the Ministry of Finance and the National Archives Bureau in 2015. The Measures became effective on the 1st of January 2016. This article will focus on the adjustments made, and in particular, what accounting records need to be maintained by companies, in what format, and for how long.
- [Why conduct due diligence in China](https://china.acclime.com/news-insights/due-diligence-china/): In Western countries as in China, it is imperative to carry out sufficient due diligence on whom you are going to be doing business with, to reduce the risks. In some countries, peeling back the layers might be like peeling the skin on an apple: remove one layer and you have found the information that you are looking for. However in China, while access to information has greatly improved, you are still dealing with multiple layers of "an onion".
- [China plus one in practice](https://china.acclime.com/news-insights/china-plus-one-in-practice/): The Sino-US trade war has reignited discussions about China’s future as the world’s factory. After years of cost rises, should you replace China as your primary sourcing market? Two stances usually dominate the debate. One camp tends to inflate the urgency of moving out of China due to its rising costs, while the opposing side doubts that it’s profitable, or even feasible, to find a substitute for the country’s massive and mature supply chains.
- [Zalando China: China sourcing in the e-commerce era](https://china.acclime.com/news-insights/zalando-china-sourcing-e-commerce-era/): What better way of testing the future readiness of China as a sourcing market than through the eyes of a forward-looking online retailer?
- [Sennheiser China: Tuning into Chinese consumers](https://china.acclime.com/news-insights/sennheiser-tuning-into-chinese-consumers/): Sennheiser’s high-end headphones and microphones are coveted by audiophiles and discerning buyers around the world – and China is no exception. The German, family-owned company – whose global revenue now exceeds EUR 660m – established a subsidiary there over 10 years ago. Since then, Greater China has become a key growth market. Pierre Eloy, MD for Sennheiser Greater China, spoke to us about how the heritage brand is succeeding at luring modern Chinese consumers.
- [Protecting your intellectual property in China](https://china.acclime.com/news-insights/protecting-your-intellectual-property-in-china/): Intellectual property (IP) is a critical, longstanding concern for international companies operating in China and it continues to have a significant impact on business strategy and operations there.
- [Special additional deductions for individual income tax reform in the PRC](https://china.acclime.com/news-insights/individual-income-tax-iit-deductions-for-foreigners-working-in-china/): According to the newly revised individual income tax law, for the calculation of the taxable income of individual income in the future, besides the RMB 5,000 tax exemption allowance and the special deduction such as five insurances and one fund, six special additional deductions will be added, such as children’s education, continuing education, medical treatment for serious diseases, housing loan interest, housing rent and expenditure for elderly dependents.
- [Sourcing in post-cheap China](https://china.acclime.com/news-insights/sourcing-in-post-cheap-china/): Einhell Germany AG was part of the wave of foreign companies that entered China before the country became “the world’s factory”. Acclime has helped to set up and run its China sourcing operations since 1993.