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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.

21 March, 2025

Latest Insights

Amendment to CEPA Provides Enhanced Access to Mainland Markets

13 December, 2024

The Closer Economic Partnership Arrangement (“CEPA”) amendment between mainland China and Hong Kong, effective 1 March 2025, expands market access for Hong Kong businesses. Covering trade in goods, services, investment, and economic cooperation, CEPA now includes liberalisation measures in sectors like construction, financial services, and tourism. Key updates include easing equity ownership limits and professional service restrictions. Hong Kong enterprises can also capitalize on premier legal and arbitration services for Mainland operations. While most measures apply nationwide, select pilot initiatives focus on the Greater Bay Area, highlighting enhanced integration and opportunities for Hong Kong-based companies in a growing market.

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China Adjusts Export Tax Rebates for Certain Goods

13 December, 2024

On 15 November 2024, China announced significant changes to its export tax rebate policies, effective 1 December 2024. The elimination of rebates for aluminium, copper, and certain biofuels, along with a reduction in rebate rates for batteries and refined oil products, is set to impact businesses across key sectors. This shift aims to address the financial burdens faced by exporters under the current VAT framework. Companies must now evaluate how these adjustments affect their operations and develop strategies to navigate the evolving landscape. Discover how these changes could reshape the export market and what it means for your business.

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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.

China Focus

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.

Hong Kong Focus
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.

Greater Bay Area Focus
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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.

More on "Finance and Taxation"

Market Entry, Industry Updates and More...

Stunning shot of Hong Kong's illuminated skyline at night, featuring skyscrapers and Victoria Harbour.

Hong Kong budget for Fiscal Year 2025-26

Hong Kong’s 2025-26 Budget, announced by Financial Secretary Paul Chan, focuses on economic growth through innovation and industry upgrades. Key measures include tax reliefs, enterprise support, and incentives for technology, finance, trade, and green development. Salaries and profits tax reductions, SME financing support, and infrastructure investments aim to boost competitiveness. While Hong Kong faces geopolitical and economic challenges, the budget prioritizes stability and long-term growth. The government maintains its simple tax regime and introduces targeted initiatives to strengthen its business hub status. CW welcomes these measures, supporting businesses in navigating opportunities and ensuring sustainable development.

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CW CPA is a professional advisory and CPA firm offering accounting and financial reporting, audit and assurance, corporate secretarial, HR process outsourcing, tax advisory and China consulting services, with offices in Hong Kong, Shenzhen, Guangzhou and Shanghai in China, Barcelona in Spain, London in the UK, Bogotá in Colombia, Belo Horizonte and São Paulo in Brazil. CW CPA is a member of Allinial Global, an award-winning association of legally independent accounting and consulting firms whose members collaborate to bring their clients best-in-class solutions. 

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