How to Conduct a Successful Sustainability Report
Effective sustainability reporting is crucial for demonstrating an organization’s commitment to sustainable development. This article guides you through essential considerations and structured steps for a successful sustainability report. Begin by securing top-level commitment to ensure resource allocation and understand the regulatory landscape early on. Start small, focusing on core sustainability metrics, and gradually expand your scope. Develop in-house expertise and engage stakeholders to create a comprehensive sustainability narrative. A five-step process—from assessing readiness to continuous improvement—helps organizations draft meaningful reports that resonate with stakeholders and enhance sustainability efforts. With the right approach, sustainability reporting can drive significant environmental and social benefits while aligning with business objectives.
The State Administration of Taxation Announces Comprehensive Support Measures for Small and Micro Enterprises
The State Administration of Taxation in China has launched the 2024 “Spring Rain Nurtures Seedlings” action plan, introducing 12 pivotal measures to enhance the growth and resilience of small and micro enterprises. This initiative focuses on sectors like technology innovation and manufacturing, providing comprehensive policy guidance and support throughout the business lifecycle. The plan emphasizes structural tax reductions, fee simplifications, and tailored support for small cross-border enterprises. It addresses critical aspects such as tax declarations, business model adjustments, and trade method shifts. With a strong commitment to ongoing monitoring and adaptation, the initiative aims to foster a conducive environment for sustainable growth and competitiveness in the global market.
Guangdong’s Maritime Economy: Leading in the Nation for 29 Consecutive Years
The “Guangdong Maritime Economy Development Report (2024)” highlights that Guangdong has held the top spot in China’s maritime economy for 29 years. In 2023, its maritime GDP was 1.87781 trillion RMB, comprising 13.8% of the regional GDP. The maritime industry, including emerging sectors like marine pharmaceuticals and renewable energy, contributed significantly to regional growth. Technological advancements and international cooperation, particularly in the Guangdong-Hong Kong-Macao Greater Bay Area, have bolstered its maritime sector’s robust performance.
China-Ecuador Free Trade Agreement Takes Effect on 1 May 2024
The China-Ecuador Free Trade Agreement, which took effect on May 1, 2024, marks a significant advancement in economic relations between the two nations. By immediately eliminating tariffs on 60% of goods, with plans to extend this to 90%, the agreement opens up expansive trade and investment opportunities. This treaty not only facilitates a reduction in trade barriers but also promotes economic growth and cooperation. The immediate impact is seen in sectors ranging from agriculture in Ecuador to manufacturing in China, fostering a dynamic economic partnership.
Guangdong’s 45 Measures Promote Artificial Intelligence Empowering Various Industries
Guangdong Province is spearheading China’s ambitious strategy to integrate artificial intelligence (AI) across various industries. With its comprehensive policy, “Several Measures on Empowering Various Industries with Artificial Intelligence in Guangdong Province,” the region is set to revolutionize agricultural, transportation, energy sectors, and public services through AI. This initiative reflects a broader national ambition to harness AI for high-quality development, positioning Guangdong at the forefront of global AI innovation.
Hong Kong Introduces New Capital Investment Entrant Scheme
Hong Kong’s new Capital Investment Entrant Scheme (New CIES) is set to attract high-net-worth investors, reinforcing the city’s status as a global financial hub. Launched on March 1, 2024, the scheme enables international and Chinese investors to gain residency in Hong Kong by investing in specific asset classes. To help you leverage the New CIES, this article provides an overview of the eligibility criteria, the range of investment assets that fall within scope, and details regarding the application procedure.
Expand Beyond Hong Kong: Dedicated Fund on Branding, Upgrading and Domestic Sales
Do you own a non-listed company in Hong Kong? You may be eligible to apply for funding under the Dedicated Fund on Branding, Upgrading and Domestic Sales (“BUD Fund”) to support your expansion efforts outside Hong Kong. This article will walk you through the eligibility criteria, funding scope, allocated funding amounts, and a step-by-step guide to navigating the application procedure under the different BUD schemes.
A Guide to Changing Your Registered Capital in China
Changing the registered capital in China can be a complex process with numerous legal and financial considerations. Whether you are looking to increase or decrease the registered capital of your foreign-invested enterprise (“FIE”), it is important to adhere to the various rules and regulations. In this guide, we will explore the intricacies of changing your registered capital in China., highlighting the legal consequences that may arise from unlawful capital reduction. In addition, we will provide practical insights into the procedural requirements to help you stay compliant with the newly revised Company Law.
ESG is a Pressing Issue Rather Than Just a Trend
The topic of Environmental, Social, and Governance (ESG) is gaining momentum worldwide. This article underscores the critical role of ESG principles in modern business, highlighting their benefits for resilience, innovation, and stakeholder alignment. It explores challenges in ESG implementation, such as data and resource constraints, and proposes solutions like data analysis and capacity building. Conclusively, it advocates for ESG integration as essential for sustainable growth and industry leadership, especially for businesses in Europe and China seeking sustainable strategies.
Major Revisions to China’s Company Law: Key Amendments You Should Know
Following its review of multiple draft amendment versions over the past three years, the Standing Committee of the National People’s Congress of China finally enacted the revised Company Law on 29 December 2023. It is set to take effect on 1 July 2024. Coincidentally, the amendment was passed on the 30th anniversary of the initial enactment of the Company Law, which was on 29 December 1993. This article provides a detailed exploration of the key changes brought about by the latest revision to China’s Company Law. Additionally, it examines the potential implications for businesses operating in China.