Ella's blog

Draft labor dispatching licensing measures released---Denise Xia

The Ministry of Human Resources and Social Security on April 19 released for comment a draft of the Measures for the Administration of Administrative Licensing for Labor Dispatching.  
 
The draft Measures provide for the duties and jurisdiction of the relevant authorities regarding administrative licensing for labor dispatching and specify the conditions that need to be met and the materials required for license applications. In addition, the Measures cover supervision over labor dispatching and the legal liability of dispatching entities.

How can a foreigner buy a house in Shenzhen?---Shirley Pan

You may ask whether a foreigner can buy a house in Shenzhen or not.
The answer is not every foreigner in China is entitled to buy a house in Shenzhen. According to the "Notice to regulate foreign institutions and foreign individuals to buy commercial houses “(Shen Guo Housing [2007] No. 254), jointly issued by Urban Planning Land and Resources Commission of Shenzhen Municipality and Housing Authority, the Shenzhen Branch of the State Administration of Foreign Exchange, only those who work or study in Shenzhen for more than one (1) year, are allowed to purchase a set for owner- occupied houses in Shenzhen (residential).
Please be noted, here mentioned is referring to buying residential property. Foreign individuals are forbidden to buy commercial properties under his or her own name, unless he or she incorporates a company in Shenzhen to do that.

Debate Competition of Shenzhen American International School --- Ella Xu

Our firm was invited to be the judges of Debate Competition of Shenzhen American International School. 
It is one of our public services activities in China.  

We are supersied at the clear argument points students make and can feel they are the future of the world. 

The topics are challenging.

1) Whether it is humane to have animal testing;
2) Cellphone is harmful;
3) Whether recycling is valuable;
4) Are Zoos harmful or good for animals 

Regulation and Practice on Foreign Exchange Administration under Trade in Goods - Denise Xia

Since the System Reform of Foreign Exchange Administration under Trade in Goods which is effective on August 1 2012, many companies are confuse what is the new procedure of import and export, how to report in the new system of Foreign Exchange Administration under Trade in Goods, and how to exchange money in the bank.
Though we could read the Notice or Regulations from S.A.F.E, but you will found that you knew the Notice or Regulations very clearly, but regarding practice, you don’t know how to do it correctly. Because different company has different issues, the Notice or Regulations won’t tell you how to handle it if this kind of issue happened. But we will. We will tell you the details what we learn from Practice.

 
 

The Provisions of Business Registration in Shenzhen - Ella Xu

To respond the handover of the Central Government, all local government “should” do something to ingratiate it. The new Qian Hai Economic Park in Shenzhen will be the special zone of special zone soon. So, the Shenzhen Government issued a new rule on Business Registration on March 1, 2013 to assist the formalization of Qian Hai Economic Park and ingratiate the Central Government.
 

Possible Mistake Pre-Estimation System - Ella Xu

This is me, Ella and the general manager of Great Asia

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Area of one of our client. I am instructing the client how to use online banking of Hong Kong HSBC to make payment to inland Hong Kong and cross border step by step. This is just one kind of our attentive and detailed service or training even after we have finished our contracted service. A mini mistake will cost you several times of money and energy to remedy it. So, our firm set up a Possible Mistake Pre-Estimation System by many years of experience which we will provide our client in advance or along their operation to reduce their rate of making mistakes. 

 

 

 

Immigration to USA --Ella Xu

USA dream is becoming warmer and warmer in China since 21st century. According to the authoritative statistics recently, there are 150M people are willing to immigrate to USA which includes 22M Chinese people. The Chinese immigrants occupy 70% in the year of 2011. Why USA is still the top choice to the Chinese immigrants? The major reasons are as followed.
 
1)      Compared to the old other attractive immigration countries, the requirement to the net capital of USA are the most affordable. For example, the min net capital limit of Canada is 1.6M CAD, Singapore is 2.5M SGD and Australia is half million of AUD;
 
2)      The tuition of children is almost free;
 

A Good News For the Business Invstors in Shenzhen - Ella Xu

From 1 January, 2012 to 2014, Shenzhen Industrial and Commercial Bureau (ICB) who is responsible for issuing Business License will stop charging administration registration fee to all new formalized company.  For example, the investor will save about RMB5, 000 if the regsitered capital of the new company is RMB 1M.   In the meanwhile, the administration charge for increasing Registered Capital for old company is stopped too. 
 
After the Congress Meeting of this year, the central government is also considering lowering the tax burden of middle and small size company feasibly and furtherly.

Chinese Work VISA Holders MUST Buy Social Insurance in China From October 2011

From 15 October 2011, all foreigners who are holding work visa in PR China MUST buy social insurance in mainland China, except the ones whose age is over 60years old. It becomes a mandatory rule in the whole China. The government data shows that there are about 700,000 work visa holders, which 230,000 of them are living in Shenzhen.
 
The Company and the Employee will have to increase their budget RMB2, 100/month more than before totally. For International School and all the big multinational companies, it will become a big shock. China only signs Bilateral Agreement with German and South Korea until today, which means only the aliens from these two countries who has already bought social insurance in their own country can avoid the dilemma of buying double social insurance.
 
We must say that the promulgation of the Measures is lack of consideration.  Below please find the whole Measures.
 

Real income tax threshold hiked to CNY4,545

From 1 September 2011, the taxable amount of Personal Income Tax will become CNY4, 545 which means there will be 60M of Chinese personal tax payer need not pay for PIT from that time. 

China recently raised the personal income tax threshold from 2,000 yuan to 3,500 yuan, which reduced the population paying this tax from 84 million to 24 million. The new income tax threshold of 3,500 yuan ($541) is for a person's income after deductions have been made for social basic insurance premiums and the housing public fund.  The social basic insurance includes the basic pension insurance, basic medical insurance and unemployment insurance.
 

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