It's Friday and time yet again for another edition of the Hongda Business Services Roundup! This first roundup of February comes at a time when the biggest human migration on Earth is underway, with millions of Chinese heading back 'home' to celebrate the coming of the Year of The Monkey, more commonly known as Chinese New Year!
Before we kick things off we'd like to wish everyone traveling a safe journey and a very prosperous Chinese New Year!
The arrival of CNY is also a time when companies are beginning to prepare for there annual audit. This month Hongda Business Services has created an "Annual China Company Accounts Auditing Checklist" to help enterprises:
- Prepare all of the required documentation in advance so you waste no time in getting started
- Track the entire process with the printable checklist so you don’t miss a thing
- Meet submission deadlines so that they stay compliant in China
- Understand the entire process behind an annual audit
- Establish a solid platform for communication to work off of when dealing with a Certified Public Accountant (CPA)
Click the button below to download your FREE checklist!
Now, onto the business at hand. This week we have some great posts lined up for you that include:
- 72-hour visa-free entry on the cards for foreign visitors to Shenzhen
- China factories continue to lose steam
- Love Free Rent? Love The QianHai Special Economic Zone!
- More tech spending to propel innovation in Guangzhou
Let's get right into it!
1) 72-hour visa-free entry on the cards for foreign visitors to Shenzhen
Shenzhen is taking more steps to opening up itself to the rest of the world with a visa announcement that is sure to help further establish its airport as an international hub for travelers from around Asia and the West.
According to a spokesperson from Shenzhen Airport Group Co. their are plans to roll out the 72-hour visa-free entry policy to new arrivals at Shenzhen Bao'An International Airport within the first half of 2016.
Read on to discover the list of countries that are eligible to apply and what this new transit visa means for Shenzhen (and those looking to make the most out of their layovers).
2) China factories continue to lose steam
China's crucial factory sector is sputtering. Manufacturing activity slumped again in January amid fears over the health of the economy.
The official purchasing managers' index hit 49.4 in January, according to the National Bureau of Statistics, down from 49.7 the previous month. Any number below 50 represents a deceleration in the manufacturing sector.
A separate survey conducted by Chinese media group Caixin showed manufacturing PMI at 48.4 in January, a slight improvement from 48.2 in December. The index has now been below 50 for 11 consecutive months.
The official government manufacturing gauge is heavily weighted toward large enterprises, while the private Caixin survey taps a smaller sample size and places greater emphasis on smaller firms.
Monday's poor data underscores growing concerns over the world's second-largest economy.
3) Love Free Rent? Love The QianHai Special Economic Zone!
The QianHai special economic zone is much vaunted in today's business circles of China. It is part of a new wave of SEZs in Guangdong's PRD region which the government is championing in order to enrich China's economy going into 2016 and beyond.
One of the most important features of this zone is that the government are offering many types of benefit in order to spur businesses to either open there, or set up a branch office at least.
Let's look at these benefits which give a lot of reasons to like Shenzhen...
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Chinese leaders have been struggling to put a floor under the economy, even as a fresh plunge in its stock markets and yuan currency have stoked worries from Washington to Wellington that conditions may be rapidly deteriorating.
Fourth-quarter gr ..
Chinese leaders have been struggling to put a floor under the economy, even as a fresh plunge in its stock markets and yuan currency have stoked worries from Washington to Wellington that conditions may be rapidly deteriorating.
Fourth-quarter gr ..
4) More tech spending to propel innovation in Guangzhou
Guangzhou, the capital of Guangdong province, plans to double its fiscal expenditure on science and technology to incubate high-tech startups, seeking a new identity as an international hub of scientific and technological innovation, said government officials.
The foreign trade and commerce center saw year-on-year economic growth of 8.4 percent last year, bringing the full-year GDP to 1.81 trillion yuan ($275 billion), ranking third in China for the 27th consecutive year, according to a government work report released on Monday.
Guangzhou aims to have an average annual GDP growth rate of above 7.5 percent during the 13th Five-Year Plan (2016-20), Mayor Chen Jianhua revealed while delivering the work report at the opening of the city's annual legislative session.
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.
Once again we wish you all a very Happy Chinese New Year! We will see you all again for the next roundup on 19 February!
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