It's Friday and time yet again for another Hongda Business Services Roundup! The month of January is already in full swing and we are all busy working hard to finish up before the upcoming break for Chinese New Year.
We still have a few weeks to go and a lot of our own great posts lined up between now and then, as well as some of the latest China business news, developments and trends. This week's posts include:
- Setting Up A Business In Shenzhen? Answer These Questions First!
- What might happen in China in 2016?
- China Sets Its Eye on E-Commerce Sector to Fuel the Economy
- Shenzhen: 'THE' place to be for business in China! (infographic)
Let's get right into it!
1) Setting Up A Business In Shenzhen? Answer These Questions First!
So, it's time to start doing business in Shenzhen and you've chosen to set up a China WFOE.
But are there any important questions to consider before going through the company setup process?
Yes!
Let's go through eight key questions here in order that when you do set up your China WFOE it is incorporated on the firmest possible footing and your staff are ready to roll in what is probably a fairly unfamiliar Shenzhen business environment...
2) What might happen in China in 2016?
The reality is that China’s economy is today made up of multiple subeconomies, each more than a trillion dollars in size. Some are booming, some declining. Some are globally competitive, others fit for the scrap heap. How you feel about China depends more than ever on the parts of the economy where you compete. In 2015, selling kit to movie theaters has been great business, selling kit to steel mills less so. In your China, are you dealing with a tiger or a tortoise? Your performance in 2016 will depend on knowing the answer to this question and shaping your plans accordingly.
Many well-established secular trends in China will continue in 2016. The service economy’s expansion is perhaps most prominent among them. In this piece, as usual, I won’t spend much time on the most familiar things. Instead, I will highlight what I believe will become the more important and more visible trends in 2016, either because they are now accelerating to scale or a discontinuity may become a tipping point.
More on this insightful article here!
3) China Sets Its Eye on E-Commerce Sector to Fuel the Economy
China has shifted its focus towards the e-commerce industry to boost the country’s exports. The services sector has been performing exceptionally well for the past few months and the Chinese government is planning to use the service sector’s potential to offset the impact of slowdown in the country’s economy.
The Chinese state council on Wednesday decided to introduce more policies and incentives to expand China’s cross border e-commerce industry that could offer more support to the trade development, as per the official statement.
The Chinese government is intending to establish six major systems concerning information sharing, intelligent logistics, risk prevention, supervision, financial services and, e-commerce credit. The council has also decided to prioritize the cities in West, Central and East China, which have better infrastructure, developed e-commerce industry and a large volume of foreign trade coming from them.
Chinese officials have also announced to introduce integrated one window operation, which would have information sharing system with addition to offline financial services and advanced logistics system for better accessibility to the market.
4) Shenzhen: 'THE' place to be for business in China! (infographic)
Shenzhen, the brainchild of former statesman Deng Xiaoping, and the PRC's first shot at creating an experimental ground for practice of market capitalism, is a modern day marvel that has far exceeded the expectations of everyone involved in bringing it to the heights it has achieved in its short history.
Shenzhen is a magical place that has many reasons why it is such a hospitable place to do business in China, and that's why we've compiled an infographic with remarkable facts and figures that prove exactly why it is the place to be for foreigner business people!
Send this infographic out into the Twittersphere!
That it for this week's edition of the Hongda Business Services Roundup! Please let us know about any of your thoughts regarding some of the topics we recapped this week in the comments below, or let us know about any other topics you'd like for us to cover.
