Welcome to the Doing Business in China guide, supplied by PwC and sponsored worldwide by HSBC. The PwC Doing Business guides are designed to provide general information for anyone interested in doing business in China, along with specific information on taxation; auditing and accounting; and human resources and employment law. In addition it has information on trade and banking. It’s part of a series of guides to 21 countries produced by PwC for HSBC.
China’s extraordinary transformation is well known. From a negligible presence 30 years ago to being the world’s trading colossus today, the nation is transformed itself and any nation that trades with it. The world’s second-largest economy powered upward on manufacturing by using its immense supply of workers. In recent years wages have soared and now China is again about to transform itself—and the world—by becoming one of the world’s largest consumer markets.
In the attached PDF file you’ll learn about Chinese trade and regulatory environments; local business etiquette; various strategies for setting up a business; the range of commercial income taxes you will be obliged to pay; tax credits available; and value-added taxes. China was peculiar incorporation laws that must be understood if you are to structure your China venture properly. There’s also valuable information on auditing and accounting. You will also learn about immigration rules, working hours and work conditions as well as the highly problematic approach to registering trademarks and protecting intellectual property.
Canada’s trade with China has grown immensely but suffers from a massive deficit in favour of the Middle Kingdom. China is interested in Canadian wood pulp, paper, ores, mineral fuels and oils, fats, oils and waxes as well as grains. At a higher level, the current Five-Year Plan, which directs the evolution of the total Chinese economy, is calling for more efforts to address environmental degradation, opening the door to Canadian environmental science firms and those adept at processing water. Cleantech is another sector that is welcome in China, as well as a growing range of processed foods.