In the annual Work Report delivered at the Two Sessions (Chinese People’s Political Consultative Conference and National People’s Congress), Premier Li Keqiang announced further cuts to value-added tax rates. From 1 April 2019, the following rates shall be effective: Sector Previous rate New rate Manufacturing sector 16% 13% Construction and transport (including passenger transport services)…
Read moreRegistered capital refers to the capital to be paid by the shareholders or promoters of a company. The minimum amount of registered capital mandated to be registered was eliminated in 2014, except where required by law, rules and regulations. The Circular of the State Council on Issuing the Reform Proposals for the Registered Capital Registration…
Read moreEquity joint ventures (EJV) can be utilised by foreign companies to accelerate the growth of their product or services in China with the assistance of a local partner. In an EJV, the partnership should be an exchange between two parties. For instance, a foreign company bring the history and technology of its products to a…
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On 13 March Horizons Italy and International Supply Chain Academy (ISCA) held a seminar on Corporate Social Responsibility and Sustainability in the construction sector for a delegation of government and construction industry representatives from Belarus. The seminar was delivered by Lucia Myriam Netti, Horizons regional partner for Europe, Russia and Belarus. Heading up the Belarusian…
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In China, carrying out foreign exchange transactions outside of designated foreign exchange banks, the China Foreign Exchange Transaction Centre or its local branches is illegal. Foreign exchange in China is strictly regulated and any violation of regulations can be dan be deemed as a “disruption to the market” and result in criminal penalties. Foreign individuals…
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