Introduction Of Company Set Up In China

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Introduction Of Company Set Up In China

Foreign investment in China is driven mainly by its expanding middle class, now at 300 million and projected to reach 70% of the population by 2030. To attract high-tech industries and talent, the Chinese government has introduced supportive measures like the 2020 Foreign Investment Law, which offers more flexibility for foreign enterprises.

I. Basic introduction of China

China is actively opening up its economy to enhance global trade, fostering an international business environment. This has led to a surge in investors registering trade/service companies in China, benefiting from increased trade opportunities and a more favorable legal framework. The business has the following advantages:
  • China's large and growing middle class (currently 300 million), projected to reach 70% of the population by 2030, is a major draw for foreign investors.
  • The Chinese government is actively encouraging foreign investment, particularly in high-tech sectors and talent-driven industries.
  • The Foreign Investment Law, effective since 2020, grants foreign enterprises more flexibility in establishing and operating businesses in China.

II. What are the advantages of registering a company in China?

  1. Hire local employees directly and meet legal obligations such as social insurance and housing fund contributions.
  2. Retain full control over your operations in China without relying on a local joint venture partner.
  3. Issue VAT-compliant invoices and receive payments in either RMB or foreign currencies.
  4. With a local business license, legally operate and carry out business activities throughout China.
  5. Access local subsidies and funding opportunities, and apply for loans in RMB from both domestic and international banks.
  6. Manage import/export operations independently, including eligibility for export tax refunds.
  7. Take on legal responsibility for business activities in China, such as importing cosmetics, medical devices, food, and other regulated products.

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