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Focus China

News & Information for Investors, Entrepreneurs and Businessmen from Tax Consultants, Accountants, and Lawyers

Recent Articles

What distinguishes the Chinese WFOE from the German GmbH

For companies considering an entry into the Chinese market is the WFOE (also WOFE) the most popular type of company. WFOE stands for Wholly Foreign-Owned Enterprise. As the name suggests, it describes a company where only foreign investors are participating,...

Opportunity in times of crisis? China’s new economic landscape

China, renowned for the last decades for its economic ability, currently confronts a multitude of challenges within a context of slow economic growth. The ongoing structural transformation of China's economy, imperative for its long-term sustainability, has engendered short-term turbulence. The...

Navigating China’s Cashless Revolution: A Guide to New Payment Options

In recent years, China has undergone a remarkable transformation in its payment landscape, evolving into an almost cashless society driven by mobile payments. For residents, this transition has undoubtedly enhanced convenience in everyday transactions. However, for foreign visitors, navigating this...

Increased Liability Risks for Directors in China: A Comprehensive Guide with Numerous Examples

The recent changes in Chinese corporate law mark a significant shift in corporate governance and establish new, stricter standards for directors. This comprehensive guide sheds light on a variety of scenarios in which directors must now exercise increased caution to avoid personal...

Chinas NEW Company Law! What you need to know!

266 articles, this will be the lengths of the new Chinese company law. The current version with 218 articles in total will get a full make-over with over 70 articles being added or substantially revised. As this is the first...

Chinas new company law 2024 and liabilites – why the Supervisor can still be useful

Even though underestimated many times, the Supervisor could play a crucial role in the performance of a Chinese business. Being on an equal level of communication with the management comes with many plus points. The new company law brings profound...

Employer Gift-Giving in Germany and China Explained

Christmas season is around the corner, and many companies are gearing up to prepare Christmas presents for their employees. Before diving into the festive spirit, it's crucial for a company to pay attention to certain aspects in advance to avoid...

Cross-border data transfer made easy now: The CAC Standard Contract

Previously, the transfer of cross-border personal data was challenging, whether it was conducting a CAC security assessment or certifying personal data. Both processes involved high costs, significant administrative burden, and long waiting times. However, since June 1st, 2023, the transfer...

Chinas E-Fapiao

In the operations of modern enterprises, invoices play a pivotal role. With the evolution of technology, the traditional process of obtaining paper invoices from the tax bureau has transformed. The Golden Tax IV system has ushered in a new era...