Pursuant to the Administrative Measures on Beneficial Owner Information, effective from November 1, 2024, the Company is required to report Ultimate Beneficial Owner (UBO) information to local authorities.
The Ministry of Human Resources and Social Security announced the upper and lower limits of salary bases for all social insurance contributions in 2024. Here we would like to summarize and share the new social contribution base of the Super Tier 1 cities in China, effective from July 2024.
On 12th November 2024, the State Council announced the public holiday arrangements for 2025, which are “social” arrangements made in order to lengthen the number of consecutive days of holiday and allow employees to return to their home cities.
Following the promotion of the use of fully digital invoices in the rail passenger sector, in order to further facilitate the reimbursement of air passengers, the authorities have recently decided to promote the use of electronic invoices in the civil aviation passenger sector. In this newsletter, we present key points about electronic invoices of air ticket and the impact on your operations.
The Standing Committee of the National People's Congress has decided to gradually raise the statutory retirement ages for employees.
With the nationwide promotion of digital invoices, in order to facilitate the reimbursement of railway passengers, the authorities have recently decided to promote the use of electronic invoices in the rail passenger sector.
The contribution base is determined by the employee’s annual average salary of the previous year, subject to the upper limit and the lower limit of each city announced in the middle of the year. On 31 July 2024, the Ministry of Human Resources and Social Security of Shanghai and Beijing announced the upper and lower limits of salary bases for all social insurance contributions in 2024. Here, we...
As of July 1, 2024, significant changes will be made to the Shenzhen social security regulations due to the upgrade of the social security system and Client platform of social insurance management. We summarize hereafter the main changes for your information.
To strengthen the management of registered capital registration of companies, standardize shareholders' lawful performance of capital contribution obligations, the State Council formulated related regulation in accordance with the Company Law of the People's Republic of China, which effected on 1 July 2024. We summarize down below the main measures that may have an impact on your operations.
The significant amendments were made to the China Company Law in 2023, which came into effect on July 1, 2024. The new Company Law brings a renewed focus on transparency and responsibility in capital management.
We are pleased to bring you the latest updates on Shanghai's unemployment insurance policy, which is designed to support the stability and growth of businesses in the city. Companies, including foreign invested enterprises, that have a layoff rate not exceeding 5.5%, have paid unemployment insurance premiums on time and in full, and have a good credit record are eligible for this policy.
To promote high-quality development of trade and effectively enhance the ability to serve the real economy, the State Administration of Foreign Exchange (“SAFE”) has announced several measures to further optimize the management of trade foreign exchange business.
To further support the enterprises to stabilize jobs and fully play the role of unemployment insurance, the Ministry of Human Resources and Social Security has announced a comprehensive set of policy measures to continually stabilize employment.
To further support the development of small and medium-sized enterprises and reduce operational burdens and costs, the Shanghai Municipal People’s Government has announced a comprehensive set of policy measures.
The amended Company Law of the People's Republic of China, adopted on 29 December 2023, will take effect on 1 July 2024. We summarize down below the main measures that may have an impact on your operations.
Following the notice announced by the State Taxation Administration on December 28th, 2023, we have enclosed the newsletter in regard of the 2024 tax filling calendar for your perusal. Should you have any questions, please do not hesitate to contact us. We would be happy to help!
To further improve the service experience in handling social insurance declaration and payment, and to reduce the cost of handling affairs, authorities will optimize and adjust the process of social insurance declaration and payment for employers and individuals in Shanghai and Beijing.
On March 8, China acceded to the 1961 Hague Convention Abolishing the Requirement of Legalization for Foreign Public Documents (hereinafter referred to as the Convention), it will take effect in China on November 7.
The sixth China International Import Expo (CIIE) will be held offline in November 2023. To support the CIIE, and with the approval of the State Council, the relevant preferential policies have been enacted since October 2020.
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