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Shenzhen Xino Business Consultant Ltd.
TEL: +86-755-25921519
Email: info@xino86.com
Add: 13F, Shangbu Bldg, Nanyuan Road, Futian, Shenzhen, GD, China
Business Environment in China
With mature technologies, impeccable industry chain and logistics system extending in all directions, which is beneficial for quick business deployment for investors, China's manufacturing industry is prosperous. In recent years, China has constantly unleashed industries such as finance, insurance, trading, retail and service, and substantially reduced tariffs and relieved regulation on foreign exchange. A large consumption market brings investors numerous business opportunities.
Infrastructure
At present, China has established an integrated transportation network with railway transportation as the core, which encompasses highway transportation, maritime transportation and air transportation. The cargo handling capacity ranks first in the world.
China's communication industry has developed rapidly in recent years, with phone coverage being up to 100%. As of June 2016, the number of netizens has reached 710 million and the Internet penetration rate has scored 51.7%. In addition, the 4G network was put into use at the end of 2013.
Legal System
China's legal system consists of legislation, enforcement of law, judiciary and legal supervision. China's legislative authority belongs to the National People's Congress and its standing committee, and the State Council, when authorised by the National People's Congress, may formulate administrative laws and regulations as well as provisional regulations and rules. China's current legal system consists of constitution, laws and normative documents, of which laws include labour law, corporation law, intellectual property law, etc. Civil and commercial disputes, if any, may be resolved through mediate, arbitration and lawsuit.
Financial and Foreign Exchange Control
China's financial market is subject to state supervision. Financial institutions of China come in different types, with state-owned commercial banks as the backbone. Now, China is practicing foreign exchange control, but the profits made by the investors within the territory of China may, after being levied for tax purposes, be remitted abroad through banks.
Industries with Investment Incentives
Foreign investments are encouraged in industries ranging from manufacturing, wholesale and retail, leasing and commercial service, scientific research and technical service, agriculture, forestry, animal husbandry and fisheries, hydro-environment and public utility management, service organisations for the handicapped, elders and children, certain culture and sports, to entertainment. Foreign investments in the sponsored projects will be granted tax concessions, for instance, customs duty are exempted for import of own-use machinery and equipment and only 15% corporate income tax is collected on businesses investing in sponsored industries in western regions.