The following Commercial practice note Produced in partnership with Haibin Xue of Zhong Lun Law Firm provides comprehensive and up to date legal information covering:
Updated in April 2019
The business environment
Forming a company
Financing a company
Opening a bank account
Utilising office space
Key employment laws
Contracting with third parties
Protecting key assets and employees
China, officially known as the People’s Republic of China (PRC), is a sovereign state established in 1949 and led by a single political party, the Communist Party of China (CPC). It has a total area of approximately 9.6m sq km and a population of over 1.35 billion. China has 23 provinces, five autonomous regions, two special administrative regions (Hong Kong and Macau), and four administratively-direct-controlled municipalities (Beijing, Shanghai, Tianjin and Chongqing). Beijing is the capital city and Mandarin is the official language.
Through constant economic and political reforms led by the CPC, China has established itself as a country with political stability, economic freedom and legal certainty, making it one of the leading recipients for foreign investments. China is now the second largest economy in the world. As such, it attracts many international companies, regardless of size, eager to tap into and continue to develop a presence in this vital market.
The aim of this guide is to highlight some of the key areas that a new business should consider before entering the Chinese market. This guide is not intended to be exhaustive and specific advice is strongly recommended before setting up a business in this jurisdiction.
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