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Insights

CW CPA Professional Insights on China and Cross-Border Business

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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.

China Economic Outlook 2024

While spectators worldwide had pinned high hopes on China achieving a swift and sharp rebound in economic activity, the wheel of fortune turned more sluggishly than expected after its post-Covid reopening. A cocktail of pressing challenges, including subdued consumption and a slump in the property market, continue to cloud China’s recovery outlook. Despite a somewhat bumpy ride last year, the world’s second-largest economy managed to hit its growth target of 5%, expanding by 5.2% year-on-year to RMB 91.3 trillion.

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

On 17 November 2023, Hong Kong’s Special Administrative Region Government (“SAR Government”) gazetted the Inland Revenue (Amendment) (Aircraft Leasing Tax Concessions) Bill 2023 (“Bill”). The purpose of the Bill is to enhance the aircraft leasing preferential tax regime originally introduced in 2017. This article will provide a summary of the key legislative changes to the aircraft leasing preferential tax regime. For information about other tax incentives in Hong Kong, consult our Complete Guide to Hong Kong Tax.

A Guide to Company Chops in China

Understanding the different types and uses of company chops is essential. Integral to day-to-day business activities, company chops are official seals used to validate various documents and contracts. In this article, we will explore the significance of company chops and the different kinds of chops, including e-chops. In addition, we will offer guidance on safeguarding your chops to avoid any potential misuse or unauthorised use.

Demonstration Zone in Nansha of Guangzhou for All-round Cooperation Among Guangdong, Hong Kong and Macao (GBA)

Nansha, a strategically located district in Guangzhou, China, has emerged as a dynamic hub for innovation and cooperation, particularly within the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). Designated as the Demonstration Zone in Nansha of Guangzhou for All-round Cooperation Among Guangdong, Hong Kong and Macao, the district is fostering a vibrant ecosystem for businesses, industries, and talents from across the region. This article offers an overview of the Nansha Plan, highlighting the advantageous policies within the Nansha Cooperation Zone and showcasing examples of successful foreign enterprises that have thrived in this area.

Your Guide to Hiring Employees Locally in China

Are you seeking to expand your operations into China? China’s labour market is evolving rapidly. Understanding its dynamics is crucial to ensuring success in recruiting and retaining the right talent. This article will walk you through the important aspects of the hiring process in China. Topics covered include methods to hire local employees, employment contracts, and other compliance considerations.  
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