Search Results for: business

Doing business in China: How foreign businesses and their brands can enter China’s e-commerce market

China’s e-commerce market is one of its fastest-growing
business sectors. Despite the effects of the COVID-19 pandemic, online sales in
China are increasing and during the second shopping festival held from 1-18
June 2020, Jingdong e-commerce platform reported online sales of RMB 269.2
billion (USD$39.5 billion).

For foreign businesses and brands seeking to enter
China’s e-commerce market, the challenge is to penetrate the market in a
sustainable and compliant manner. Often foreign companies fail to establish the
correct legal framework for clearing the way to sell products […]

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Business Operations 101: How to open a company bank account in China under constraints related to the coronavirus pandemic

At Horizons, we encounter numerous queries about opening a
company bank account in China, especially during the COVID-19 pandemic. For
practical purposes, a company bank account should be opened upon the receipt of
the business license.

For foreign companies operating in China, two accounts
should be opened in order for a business to commence with transactions.
Firstly, you’ll need to open Renminbi (RMB) currency account for daily
operations in China, in which only RMB can be deposited, withdrawn and
transferred; secondly, a foreign currency account shall […]

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Don’t get caught with your guard down — global data protection is a serious matter for foreign-invested businesses operating in China

In global business, the obligation to
protect valuable data is paramount for enterprises. 

This month marks the third anniversary
of the Cybersecurity Law of the People’s Republic of China (CSL). Equally, last
month was the second anniversary of the General Data Protection Regulation
(GPDR). Since the implementation of these
measures, enforcement of both has continued to expand and compliance for
companies remains an important issue. In June, Horizons regional partner Lucia Netti served
as a panellist on a much-viewed webinar addressing global data protection for
enterprises. The […]

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