Articles

Hong Kong Unveils New Cybersecurity Bill

Hong Kong has introduced the Protection of Critical Infrastructures (Computer Systems) Bill (“PCI Bill”), aiming to safeguard critical infrastructure sectors like banking, healthcare, telecommunications, and transport from cyber threats. The bill imposes obligations on operators, including establishing specialist cybersecurity units, adopting preventive measures, and promptly reporting incidents. A Commissioner’s Office will oversee compliance and assist during emergencies. By aligning with international standards, the PCI Bill enhances Hong Kong’s cybersecurity framework, ensuring operational continuity in critical sectors. Businesses should prepare to meet the bill’s requirements and strengthen their cybersecurity protocols.

17 January, 2025

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Hong Kong Signs Free Trade Agreement with Peru

13 December, 2024

On 15 November 2024, Hong Kong and Peru signed a landmark Free Trade Agreement (FTA) during the APEC Economic Leaders’ Meeting in Lima. The agreement covers competition, intellectual property, investment, trade in goods and services, and online commerce, among other strategic areas. It grants Hong Kong enterprises access to over 150 Peruvian industries, surpassing WTO commitments. The FTA provides a stable legal framework to boost commerce, fostering opportunities for Hong Kong businesses to expand into Latin America. With bilateral trade growing steadily—merchandise at 4% annually (2019-2023) and services at 16.3% annually (2018-2022)—this partnership solidifies economic ties.

China Extends Annual Public Holiday Entitlement

13 December, 2024

Effective 1 January 2025, China’s revised Regulation on Public Holidays increases the annual public holiday entitlement from 11 to 13 days. Chinese Lunar New Year’s Eve and 2nd May (Labour Day festivities) have been added, extending the Spring Festival holiday to four days and Labour Day holiday to two days. Employers must update employee handbooks, adjust overtime pay calculations to reflect triple pay on these new holidays, and revise payroll calculations considering fewer average working days. These changes provide employees with more rest days while prompting businesses to ensure compliance with adjusted policies and legal requirements.

China’s New Beneficial Owner Disclosure Rules: Key Insights for Businesses

Effective November 1, 2024, the Administrative Measures on Beneficial Owner Information mandate that companies, partnerships, and foreign company branches in

China Promulgated the Negative List 2024 for Foreign Investment Access at National Level

On November 1, 2024, China enacted the “Special Administrative Measures (Negative List) for Foreign Investment Access (2024 Edition),” repealing the

Implementation of the Registered Capital Management System under the Company Law of China

China has recently updated its regulatory framework with the State Council’s Provisions on the Implementation of the Registered Capital Management

The New Era of Customs Duties: A Comprehensive Analysis of the Law of the People’s Republic of China on Customs Duties (2024) and its Comparison with the 2017 Regulations

On April 26, 2024, the Standing Committee of the National People’s Congress promulgated the Law of the People’s Republic of

Dong Business in China

Our China Guides comprise a series of informative articles that provide insights on efficiently handling the compliance responsibilities and administrative formalities associated with establishing and scaling up your business in Mainland China.

Dong Business in Hong Kong

Are you looking to setting up a company in Hong Kong? Checkout our a series of comprehensive guides on how to set up and operate a business in Hong Kong.

Expanding your business into

Greater Bay Area

The Greater Bay Area (GBA) of China presents vast opportunities for businesses seeking to expand their operations in the region. The GBA comprises nine cities in Guangdong Province, Hong Kong, and Macau, with a combined population of over 70 million and a GDP of approximately USD 1.6 trillion. It is a critical part of China’s economic development strategy, aimed at creating a world-class metropolis and driving economic growth in the region.

We have a series of informative articles that delve into the various business opportunities available in the GBA. These articles cover a wide range of industries, including finance, technology, logistics, and tourism, among others. We provide insights on the GBA’s market potential, investment incentives, regulatory environment, and emerging trends that businesses can capitalize on.

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Finance and Taxation

China Pushes for Nationwide Adoption of Fully Digitalised E-Invoices

Effective 1 December 2024, China’s State Administration of Taxation (SAT) has implemented fully digitalised e-invoices, or e-fapiao, nationwide. This initiative simplifies invoicing processes, replacing traditional paper-based invoices with a streamlined digital format featuring 17 key elements, including a unique 20-digit identification code. Legally equivalent to paper invoices, the e-invoice reduces administrative burden and enhances tax compliance. The move underscores China’s commitment to modernizing tax administration while promoting efficiency and standardization for businesses and consumers. By eliminating the need for duplicate copies, the digital system improves usability and supports the broader digital transformation of the country’s financial ecosystem.

China Adjusts Export Tax Rebates for Certain Goods

Hong Kong Publishes Outcomes from Pillar Two Tax Regime Consultation

The New Era of Customs Duties: A Comprehensive Analysis of the Law of the People’s Republic of China on Customs Duties (2024) and its Comparison with the 2017 Regulations

Exploring Hong Kong’s Patent Box Regime

China Extends Tax Incentives for Import Goods Sold at Canton Fair for 2024-2025

The State Administration of Taxation Announces Comprehensive Support Measures for Small and Micro Enterprises

Summary of Hong Kong Taxes 2024-25

Hong Kong to Introduce Amendments to Enhance Aircraft Leasing Preferential Tax Regime

Critical Timing for Grasping Tax incentives — China’s Annual CIT Filing for Fiscal Year 2022 in 2023

Market Entry, Industry Updates and More...

China Further Relaxes Visa-free Transit Policy

China has expanded its visa-free transit policy, effective 17 December 2024, to allow eligible foreign nationals to stay up to 10 days (240 hours), up from the previous 72-144 hours. The policy also increases the number of visa-free entry ports from 39 to 60, with new additions in Anhui, Guizhou, Hainan, Jiangxi, and Shanxi provinces. Nationals from 54 countries, including the US, UK, and Brazil, qualify for this policy. Additionally, China’s unilateral visa exemption program now offers extended stays of up to 30 days and includes academic and cultural exchanges as valid travel purposes.

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