China is rolling out a series of new regulations that will significantly impact the business landscape. Companies operating in China need to stay informed and compliant to thrive. Here’s an overview of the key regulations: 1. Beijing’s ESG Development Plan (2024-2027) Beijing has launched an “Implementation Plan for Promoting High-Quality Development of the ESG...
China’s business landscape is getting a significant upgrade! The 2023 revision of the Company Law of the People’s Republic of China (PRC) is set to take effect on July 1st, 2024. These changes mark a big step forward in corporate governance, legal protections, and overall business environment improvement. Here’s a quick look at some of...
Starting July 1, 2024, Beijing will enforce the “Beijing Special Regulation on Foreign Investment,” a landmark initiative aimed at further opening the city to global investors. This regulation, passed by the Standing Committee of the 16th Beijing Municipal People’s Congress, underscores Beijing’s commitment to creating a more favorable and reliable business environment for foreign enterprises....
The Ministry of Human Resources and Social Security (MOHRSS), in collaboration with the Ministry of Finance and the State Taxation Administration, recently issued the Circular on Extending the Favorable Unemployment Insurance Policies to Support Enterprises in Stabilizing Employment. According to the Circular, China will extend three key policies aimed at assisting businesses and residents. To...
Renewing a work permit and residence permit has never been a short process: in the past, it required to first apply to for the issuance of a work permit (in principle, 5 working days) and afterwards apply for the renewal of the corresponding residence permit (another two week of waiting time, which the applicant will...
On February 28th, 2024, the General Office of the State Council unveiled the Circular Introducing the Action Plan for Advancing High-level Opening-up and Strengthening Efforts to Attract and Utilize Foreign Investment. This circular outlines 24 measures spanning five key areas, including: Streamlining the Negative List by reducing restricted sectors and expanding the Encouraged...
In the fast-paced and dynamic business environment of China, the cornerstone of any successful commercial transaction lies in a meticulously crafted contract. Whether you’re engaging in a partnership agreement, sales contract, or joint venture arrangement, the importance of a well-drafted commercial contract cannot be overstated [for more info watch our video by clicking this link...
[please see our video by clicking Trademark Protection (website)] For businesses eyeing expansion into the dynamic market of China, one strategic move stands out as paramount – registering a trademark. The significance of this step cannot be overstated, and here’s why: 1. Protection Against Infringement: Unique Brand Identity: Registering a trademark in China establishes your...
Legal Representatives play a pivotal role in the governance and operations of companies in China. As the designated individual legally authorized to act on behalf of the company, Legal Representatives shoulder significant responsibilities and liabilities. Here’s a comprehensive guide to understanding their role [to watch our video click this link Legal Representative in China (website)]:...
Signing a labor contract in China requires strict adherence to PRC laws and regulations [for more info click this linkE-commerce English (website)]. Unlike commercial contracts, the applicable law cannot be chosen. In this brief article, we highlight some of the main aspects to consider when drafting an employment agreement. Parties: The employer must be a...
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