Tag: Doing business in China

China business: understanding ‘fapiao’ and the taxation invoice system

In China, the invoice — or fapiao (发票) — is an essential component of the State Administration of Taxation (SAT). In accordance with the Administrative Measures of the People's Republic of China for Invoices (revised in 2010), invoices refer to the certificate of payment or receipt of money made or received in purchases and sales…

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China business: contract dos and don’ts

"Guanxi" (关系 guānxì) — pronounced gwan-shee — is one of the most potent forces in Chinese culture. Its direct translation means “relationships”, however, the reality of guanxi is that it relates to “connections” formed over time by the reciprocation of social exchanges and favours, the latter often related to business.   Foreigners doing business in…

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