Produced in association with Dezan Shira & Associates C HINA B RIEFING The Practical Application of China Business China’s Business Taxes Demographic and Geographic Overview of China Development Zones in China Setting Up in China Establishing ROs, WFOEs, FICEs and JVs Hong Kong Incorporation for Mainland China Businesses An Introduction to China Key Facts and Figures A Brief History of China Doing Business in China Golmud Hami Hotan Karamay Kashi Korla Qiemo Yumen Dalian Qingdao Shenzhen Zhongshan Beijing Nanning Macau Haikou Taipei Kunming Fuzhou Guiyang Changsha Nanchang Lhasa Hangzhou Hefei Wuhan Chengdu Nanjing Xian Zhengzhou Lanzhou Yinchuan Xining Jinan Taiyuan Hohhot Shijiazhuang Shenyang Urumqi Changchung Harbin Yangtze Huang CHINA Guangdong Yunnan Sichuan Shaanxi Shandong Shanxi Ningxia Inner Mongolia Liaoning Guizhou Guangxi Gansu Tibet Xinjiang Hubei Hunan Hebei Henan Heilongjiang Fujian Qinghai Jilin Jiangsu Jiangxi Zhejiang Anhui Hong Kong Taiwan Hainan Chongqing Tianjin Shanghai Guangzhou
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Produced in association with Dezan Shira & Associates
Doing Business in China
CHINA BRIEFINGThe Practical Application of China Business
China’s Business TaxesDemographic and Geographic Overview of ChinaDevelopment Zones in China
Setting Up in ChinaEstablishing ROs, WFOEs, FICEs and JVsHong Kong Incorporation for Mainland China Businesses
An Introduction to ChinaKey Facts and FiguresA Brief History of China
Doing Businessin China
Golmud
Hami
Hotan
Karamay
KashiKorla
QiemoYumen Dalian
Qingdao
ShenzhenZhongshan
Beijing
Nanning
Macau
Haikou
Taipei
Kunming
Fuzhou
Guiyang
ChangshaNanchang
Lhasa Hangzhou
Hefei
WuhanChengdu
NanjingXian
Zhengzhou
Lanzhou
Yinchuan
Xining
JinanTaiyuan
Hohhot
Shijiazhuang
Shenyang
Urumqi Changchung
Harbin
Yangtze
Huang
C H I N A
GuangdongYunnan
Sichuan
Shaanxi
ShandongShanxiNingxia
Inner Mongolia
Liaoning
Guizhou
Guangxi
Gansu
Tibet
Xinjiang
Hubei
Hunan
Hebei
Henan
Heilongjiang
Fujian
Qinghai
Jilin
Jiangsu
Jiangxi
Zhejiang
Anhui
Hong Kong
Taiwan
Hainan
Chongqing
Tianjin
Shanghai
Guangzhou
Doing Business in China | 3
Golmud
Hami
Hotan
Karamay
Kashi
Korla
QiemoYumen
Dalian
Qingdao
Shenzhen
Zhongshan
Beijing
Nanning
Macau
Haikou
Taipei
Kunming
Fuzhou
Guiyang
ChangshaNanchang
LhasaHangzhou
Hefei
WuhanChengdu
Nanjing
XianZhengzhou
Lanzhou
Yinchuan
Xining
JinanTaiyuan
Hohhot
Shijiazhuang
Shenyang
Urumqi Changchung
Harbin
Yangtze
Huang
C H I N A
Guangdong
Yunnan
Sichuan
Shaanxi
ShandongShanxiNingxia
Inner Mongolia
Liaoning
Guizhou
Guangxi
Gansu
Tibet
Xinjiang
Hubei
Hunan
Hebei
Henan
Heilongjiang
Fujian
Qinghai
Jilin
Jiangsu
Jiangxi
Zhejiang
Anhui
Hong Kong
Taiwan
Hainan
Chongqing
Tianjin
Shanghai
Guangzhou
Published by Asia Briefing Ltd.
All rights reserved. No part of this book may be reproduced, stored in retrieval systems or transmitted in any forms or means, electronic, mechanical, photocopying or otherwise without prior written permission of the publisher. Although our editors, analysts, researchers and other contributors try to make the information as accurate as possible, we accept no responsibility for any financial loss or inconvenience sustained by anyone using this guidebook. The information contained herein, including any expression of opinion, analysis, charting or tables, and statistics has been obtained from or is based upon sources believed to be reliable but is not guaranteed as to accuracy or completeness.
CONTENTSCHAPTER 1..................................... 8An Introduction to ChinaKey facts and figuresWhere China is going
CHAPTER 2................................... 12Brief History of ChinaThe Imperial ageThe Republican eraThe People’s Republic of ChinaOpening up and reform
CHAPTER 3...................................16China and Asia ComparedIndividual and corporate taxesDemographics and trade statistics
CHAPTER 4................................... 20Setting Up in ChinaChoosing a structureRepresentative officesWholly foreign-owned enterprisesForeign-invested commercial enterprisesJoint ventures
CHAPTER 5................................... 28Hong Kong Incorporations for Mainland China BusinessesRequirementsTax and financeDouble tax agreementsCloser Economic Partnership Agreement
CHAPTER 6................................... 35China’s Business TaxesCorporate income taxWithholding taxValue-added taxAuditsProfits repatriation
CHAPTER 7................................... 47Demographic and Geographic Overview of ChinaCity, province and autonomous Region overviews
CHAPTER 8...................................133Development Zones in ChinaNorth ChinaThe Yangtze River DeltaThe Greater Pearl River DeltaCentral ChinaWest China
Thank you for buying this book. Asia Briefing’s publications are designed to fill a niche in the provision of information about business laws and taxes in Asia. Produced by the foreign direct investment practice Dezan Shira & Associates, we started this series of guides several years ago with the knowledge that much of the intelligence regarding Asia was expensive, or contradictory. Much also did not adequately address the real on the
ground issues faced by multinational businessmen – the practical knowledge that must be part of the armory of any business operating in emerging markets.
China Briefing is designed to deal with this gap and is aimed at providing both the regulatory background as well as detailed information concerning Asia business with a firm eye on the practicalities of turning a profit and remaining in compliance on the mainland. Accordingly, we have tried to make this guide informative, easy to read and inexpensive. We have drawn on the experience and practical knowledge of Dezan Shira & Associates, Asia’s largest independent business and tax consultancy with offices in China, Hong Kong, India and Vietnam.
This book is a window into one of the fastest growing economies in the world, providing a thorough and in-depth analysis of China, its history, key demographics and overviews of the cities, provinces and autonomous regions highlighting business opportunities and infrastructure in place in each region. A comprehensive guide to investing in China is also included with information on FDI trends, business establishment procedures, economic zone information and labor and tax considerations as well as an analysis of Chinese business etiquette and culture.
This book aims to supply the most accurate and up-to-date legal and tax regulations, information and statistics, however, China is developing fast and this information can sometimes be unreliable or difficult to obtain. GDP figures are sometimes falsified, provincial statistics often differ from national ones, and added value from new services tends to be overestimated. We have gathered statistics primarily from Chinese government sources including web sites, the official media, and other publications. While some of the individual figures may be a bit doubtful, the overall trends are pretty clear.
Contributors to this guide include: Chris Devonshire-Ellis, Joe Drury, Christian Fleming, Amanda Gan, Ronin Lin, Shirley Liu, Jennifer Lu, Joyce Roque, and Candice Zeng. The book was designed and laid out by Chris Wei and edited by Andy Scott.
At China Briefing, our motto is “The practical application of India business,” we hope that you feel we have accomplished this within these pages.
With best regards,
Andy Scott Managing Editor Asia Briefing Publications
Doing Business in China
The China Briefing Business Guide to Doing Business in China is the definitive guide to one of the fastest growing economies in the world, providing a thorough and in-depth analysis of China, its history, key demographics and overviews of the major cities, provinces and autonomous regions highlighting business opportunities and infrastructure in place in each region. A comprehensive guide to investing in China is also included with information on FDI trends, business establishment procedures, economic zone information and labor and tax considerations as well as an analysis of Indian business etiquette and culture.
China Briefing's guides are leaders in their field, providing practical and pragmatic legal and tax information to foreign investors in China. They will interest all business people, lawyers, accountants and academics working in the field.