The weekend is officially here
Welcome to the final Hongda Business Services Roundup of November! The year is drawing to a close, but we are still working hard to bring you all up to speed with what is going on in China, and provide you with the tools and tips to be successful on this side!
This week, Hongda Business Services has prepared something to help all foreign business people track everything they need to apply for a WFOE in China, all conveniently presented in one printable checklist. Use our WFOE checklist to help you stay on top of the whole WFOE application procedure, prepare all of the necessary documents in advance and check off each step as it happens!
Click here to take a look at wh
Moving onto the posts that made an impact this week:
- Hongda's BIG 5 cities for business in China's GPRD region (2)
- Starting A Business In China: What Is China Social Insurance?
- Is E-Commerce the Best Way of Doing Business in China?
- The new place to do business in Shenzhen: Qianhai - Networking Event
1) Hongda's BIG 5 cities for business in China's GPRD region (2)
Business in China and the GPRD
In last time's article I introduced you to two of the heavyweights of the Greater Pearl River Delta region (GPRD), Guangzhou and Shenzhen. We took a look at the industries of each, the exhibitions that are hosted in them, the policies that have helped shape them and how their strategic location in the region helps them and businesses to thrive. Both of these cities contribute a stunning amount of money to the GDP of Guangdong, and are both excellent places for foreigners to start a business.
This time around we are moving on to another three cities that make up part of the GRPD region. In this blog we will be taking a look at Zhuhai, Zhongshan, and the one and only, Hong Kong.
Let's get right to it in our blog here!
2) Starting A Business In China: What Is China Social Insurance?
When starting a business in China there are any laws and responsibilities for business owners that may be new and unfamiliar.
Not only will the language barrier be a problem, but China simply does things very differently to the rest of the world in many case.
Today let's discuss China social insurance, what it is, who pays what, and how you can handle it...
What Is China Social Insurance?
China social insurance covers pension, unemployment, health care, work-related injuries, and maternity leave.
It is paid by both employer and employee, and the levels of this payment to the social insurance agencies are connected directly to the employee's salary.
It can be complicated as there is not one steadfast rule for the country. Instead it is governed at a regional level, so depending where your company is based in China you will have differing responsibilities as an employer.
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3) Is E-Commerce the Best Way of Doing Business in China?
The two potentially significant advantages of using e-commerce to reach the Chinese market - speed and cost.
Taken together, faster speed and lower cost sounds like a powerful combination, and one which you might expect would reduce the risks of international expansion into China.
The alternative, setting up retail stores or other physical distribution platforms, looks like a higher-risk approach compared with e-commerce.
You can see why grabbing a share of Chinese e-commerce market is so attractive to many Western businesses.
4) The new place to do business in Shenzhen: Qianhai - Networking Event
Hongda Business Services is hosting a networking event on the 28th of November where we will meet up to discuss the newest place to do business in Shenzhen, namely the Qianhai zone.
What the zone is about
Qianhai is a relatively newly established commercial development located to the West of Shekou Peninsula within the sprawling city of Shenzhen. The zone (still in development) has been established to:
- strengthen ties between Shenzhen and neighbouring Hong Kong
- implement preferential policies to promote foreign investment and company set up of foreign companies
- facilitate innovation in the modern service industry
- help the area become a facilitator in the industrial reform and sustainable economic development of the Pearl River Delta
Investment is expected to total about US$22 Billion in 2015. This significant investment comes as the Chinese government plans to leverage the resources and economic might of the Pearl River Delta region to take Shenzhen to even greater heights!
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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.
Hope everyone has a great weekend and that you catch us again next week for more of the news that matters in our world!
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