Blogs

The New Fapiao Legislation Explained

Effective 1st July 2017, the State Administration of Taxation extended its requirements for fapiao issuance. All companies need to add their taxpayer identification number on all issued VAT tax invoices (fapiaos) in addition to the original information. The notice was given under the Taxation Notice No. 16 of 2017.. 16 of 2017.

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How Important Is To Have Local Representatives In China?

China, money, Yuan, Renminbi, bank, currency, economics, market, growth, legislation, law, change of law, change of legislation, security, opening up business, WOFE, FICE

While every business needs to keep a tight grip on their expenses, some investments do truly pay off. One of such investments is hiring a local company in China to represent your business here. Why? Because Chinese bureaucracy and law is of complicated and ever-changing nature. Even more importantly, here, nobody stands a chance doing paperwork over the phone. Doing business face-to-face remains the most effective and respectful after all.

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In China, Guanxi Can Open Many Doors – And Borders

Some life lessons are best conveyed through a story. This one is about never underestimating what power an extensive guanxi holds in China.

 

Guanxi is the mandarin term for the network, the connection people form privately and in business relation to one another over a long period of time. Other than in Western cultures, China doesn’t differentiate between personal and professional relationships. Upholding one’s ‘face’, one’s reputation, making new connections and maintaining them becomes an omnipresent necessity.

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