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Key Takeaways from China’s Two Sessions 2025: Economic Policy Priorities and What They Mean for Foreign Investors

On 11 March 2025, China wrapped up its yearly Two Sessions on a promising note, signalling encouraging prospects ahead. The Two Sessions refer to the annual meetings of the national legislature, the National People’s Congress, and the political advisory body, the National Committee of the Chinese People’s Political Consultative Conference. They bring together policymakers to deliberate on the country’s key economic and social policy direction for the year. Marking the last year of the 14th Five-Year Plan, 2025 prioritises stability while concurrently building on forward momentum for growth and development.

Latest Insights

Navigating the New Anti-Money Laundering Landscape: A Compliance Guide to China’s 2024 Anti-Money Laundering Law for Foreign-Invested and Outbound Enterprises

The 2024 revision of China’s Anti-Money Laundering (AML) Law brings significant updates to combat financial crimes. Effective January 1, 2025, the law introduces a risk-based approach, expands predicate offenses, and strengthens compliance obligations for financial institutions. Foreign-invested and outbound enterprises must adopt robust AML practices, including thorough due diligence and transparent financial transactions. Advanced technologies like AI and blockchain are encouraged for AML monitoring, reflecting the law’s focus on evolving risks. The revision also emphasizes international cooperation, aligning China’s efforts with global AML standards and reinforcing compliance for enterprises with cross-border operations.

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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.

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Regulatory Updates

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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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.

Market Entry, Industry Updates and More...

China’s Ambitious 2025 Action Plan to Spur Foreign Investment

On 19 February 2025, China’s Ministry of Commerce (“MOFCOM”) and National Development and Reform Commission jointly issued the 2025 Action Plan for Stabilising Foreign Investment (“Action Plan”). Policymakers have repeatedly affirmed the pivotal role played by foreign investment in the pursuit of high-quality opening-up. The Action Plan, therefore, serves as the logical and natural continuation of these long-standing efforts to nurture innovative productive forces. The 20 measures under 4 aspects specified in the Action Plan are to be implemented nationwide by the end of 2025. Details regarding ancillary measures to facilitate their effective and efficient implementation will be released in due course.

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