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The first ever China International Import Expo (CIIE)

Posted by PTL Group
PTL Group
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on Monday, 09 July 2018
in Business in China

The first ever China International Import Expo (CIIE) will take place this November in Shanghai. The Expo’s objective is to provide new opportunities for foreign countries & companies to expand their exports to China, sending a clear message to overseas investors: China is eager to open its market to new products and services from abroad. This initiative is just another tangible example of the government’s interest in affirming its openness to the globalized world.

The expo will be organized into two main areas: country pavilions for trade and investment, which will exclusively showcase products from a specific country or region, and the enterprise & business exhibition, which will allow foreign companies to exhibit themselves in two distinct sections: trade of goods (180.000) and trade of services (30.000). It is expected that a variety of sectors will be represented: High-end intelligent equipment, Automobile, Accessories & consumer goods, Culture & education, and many more. Consult the full list on the official CIIE website.

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International Leading IC Foundry’s Business Journey in China——An Interview with TowerJazz China Country Manager-Mr. Lei Qin

Posted by PTL Group
PTL Group
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on Monday, 09 July 2018
in Business in China

Q: Could you please introduce the business and the history of TowerJazz?

A: TowerJazz, the global specialty foundry leader, specializes in manufacturing analog integrated circuits for more than 300 customers worldwide in growing markets such as automotive, medical,industrial, consumer and aerospace and defense, among others. Currently TowerJazz’s main business in China focuses on serving fabless companies by offering a broad range of customizable process technologies, including SiGe BiCMOS and RF CMOS (SOI and bulk) for radio frequency and high performance analog (HPA)applications; CMOS image sensor (CIS); power management, including BCD and 700V and its patented Y-Flash, the leading solution for non-volatile memory (NVM)and mixed-signal CMOS.

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Easier Market Access for Foreign Payment Firms: New Opportunities For Companies!

Posted by PTL Group
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on Friday, 29 June 2018
in Business in China

Rules for foreign-invested payment firms over Chinese market access have recently been changed by China’s central bank to promote openness and equality in their treatment towards foreign payment firms as compared to local payment firms. 

So far, foreign payment services have not – or hardly – been able to make RMB settlement in China. Even though global market leaders’ payment services, like Visa & MasterCard, are functional in Chinese market, but the payment is done through Union Pay settlement channel.  

These firms are required to have secure, regulated transaction and recovery systems in China with the capacity of processing payment services individually, according to the People’s Bank of China (PBOC).

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China Reduces Value Added Tax Rates and Adjusts Threshold

Posted by PTL Group
PTL Group
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on Friday, 29 June 2018
in Business in China

In line with last month announcement of implementing major value added tax (VAT) reform in 2018, China announced the first step in this reform process was enacted on the 1st of May. Two major changes are expected following this announcement: the first being a 1% VAT rate reduction for general tax payer and the second being an increase in the threshold for compulsory registration as general tax payer. These measures will apply to both domestic and foreign-funded companies (joint ventures, WOFE…) which is good news for all business entities in China. We delve a bit deeper to explore the impact of this announcement.

1% VAT Rate Reduction

Over the VAT three-tiered rate structure (17%, 11% & 6% rates), the 17% and 11% rates will be decreased to respectively 16% and 10%. The statement did not indicate any changes to the 6% VAT rate. 

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New Policy Changes: Simplifying Company Set Up, Construction Projects & Obtaining Access to Government Services

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on Thursday, 28 June 2018
in Business in China

The Chinese authorities have recently announced new policies for easing business in China. Some measures will be taken to simplify and drastically reduce approval time for starting a foreign-invested enterprise (FIE), construction projects, and accessing government services. The measures will be implemented in specific areas of the country first, and then will apply nationwide by the first half of 2019.

Business Establishment Regulations: One-Stop, One-Form

By June 30, the previous long and complex process to set up a new foreign-invested business will be turned into a “one-stop, one-form” procedure, slashing through the bureaucratic processes. Filling and registration process will be executed together, in one single office or online, allowing for the possibility to submit an electronic application. Previously, one needed a paper-registration and had to apply in person. This will no longer be necessary. Additionally, they have removed the need for company names to be approved in advance, and are planning to reduce the processing time for invoice applications and insurance registration. 

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