Overview

The Chinese economy continues to grow and modernise, and the Government recognises that existing systems and structures are no longer suitable for the state of development. In this briefing, Wragge & Co outline the changes being made to ensure the current regime meets demand. In doing so, the briefing discusses four measures taken by the Chinese government in the last few months to streamline and encourage foreign investment in China:

• VAT is to replace Business Tax, reducing the tax burden on multi-party transactions;


• foreign-owned holding companies will be permitted to re-invest their profits directly;


• extra steps are taken to internationalise the renminbi; and


• the latest edition of the catalogue detailing which industry sectors are open for foreign investment has been published.

Click 'View Briefing' to read the full details on these topics.