Content tagged with:China

China’s tax systems are some of the most complex in the world. Regulations change at a rapid pace, so if you’re doing business in China or planning to take the leap, make sure you have good advice and systems in place for keeping up with the regular release of important information.

The fortune of the world is increasingly governed by development in China. In 2010 China overtook the U.S. in areas such as manufacturing output, energy consumption, car sales, and patent granted to residents. For most Americans, it’s very difficult to comprehend, let alone accept, how close China is to actually overtake the U.S. as the world’s leading economy. GDP in China is estimated to overtake the U.S. by 2018.

Given the increased importance of the Chinese economy, staying on top of these trends is now of paramount importance. Let’s look closely at three key trends.

Why does setting up operations in China give finance and human resource professionals pause? China has very complex business and tax regulations that can be utterly mind boggling for foreign businesses. Complicating the issue is the fact that regulations are subject to frequent change, as well as different interpretations by both state and local authorities. It can be a challenge just to keep track of what’s permitted, where, at a given point in time.

Here are some China business practices to consider when getting your operation off the ground.