Welcome to October
Hello everyone! Welcome to another edition of the Hongda Business Services Roundup and the very first one of October.
The year is flying by now and the holidays are coming in thick and fast. The Chinese just celebrated their traditional Mid-Autumn Festival and are into their second day of the National Day week holiday! From everyone at Hongda we hope you all enjoy another well deserved break!
Now on to the roundup. We have got some great posts for you all this week:
- 5 important things you should know about doing business in China
- Hong Kong Company Registration & Running Costs: No Tricks!
- 7 simple questions and answers to understand China and the U.S.
- China Releases Draft Foreign Investment Law, Signaling Major Overhaul for Foreign Investment
1) 5 important things you should know about doing business in China
Having overtaken the USA as the world's largest economy towards the end of last year, China has helped to cement itself as an economic force globally, and one that the world is watching very closely.
It's a country that promises opportunity to those willing to brave its shores in search of a better tomorrow. Government reforms and incentives, relaxing of key policies and improved relations with the international community have paved the way for more foreign professionals to set up businesses.
But, doing business in the world's largest economy is somewhat different to how business is conducted in the West...
Whether you are planning to set up a WFOE to go at it on your own or embark on a JV with a Chinese partner, there needs to be a certain level of understanding the Chinese way of doing business, the business culture and etiquette involved so you can make the most of your opportunities presented to you.
In this blog we will take a look at 5 important things you should know about doing business in China to help smooth over your transition and put you on the road to success.
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2) Hong Kong Company Registration & Running Costs: No Tricks!
Here at Hongda Business Services a common question that we're asked is:
"What is the true cost for Hong Kong company registration? Is it a single process, or will it be an ongoing process requiring regular payments?"
So in this blog we're going to dispel some of the illusions around setting up and running a Hong Kong company by showing you which services will require you to spend money either before or during operating the company.
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3) 7 simple questions and answers to understand China and the U.S.
The United States is rolling out the red carpet this week for the leader of the world’s most populous country. Chinese President Xi Jinping will first visit with tech executives and other industry leaders in Seattle, then head to Washington to meet with President Obama.
The meeting is a touchstone moment in an increasingly tumultuous relationship. The Obama administration has been preparing sanctions against China following a wave of cyber-espionage from Chinese hackers. And China has sparked the ire of U.S. businesses and politicians by devaluing its currency and favoring Chinese businesses over foreign ones.
Despite the tension, China remains one of the most important countries in the world for Americans. China is so big and fast-changing that its actions ripple around the world and influence life for average Americans — determining the price of things we buy, influencing what we make at our jobs, even changing the quality of the air we breathe.
But maybe because of its size, or its distance, or its complexity, it can be hard to grasp exactly why China matters. Here are seven questions — and answers — that will bring you up to speed on the state of China, and America's relationship with it.
4) China Releases Draft Foreign Investment Law, Signaling Major Overhaul for Foreign Investment
The Chinese Ministry of Commerce released the draft of the proposed new Foreign Investment Law to solicit public opinions. The proposed law will significantly reduce barriers to foreign investment, whilst at the same time increase scrutiny of foreigners trying to evade the regulations on investing in restricted industries. The new law introduces five major changes.
That's us for another 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.
Hope that everyone celebrating the National Day week holiday has a great time! Travel safe, recharge those batteries, and see you all again next week for more of everything that matters!
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