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crazy! china’s first costco shuts owing to overcrowding!

costco, the us wholesale chain, opened its first outlet in mainland china in shanghai on aug 27. it has built a cult following and got too crowded so that it had to shut down early on opening day.

crazy! china’s first costco shuts owing to overcrowding!

crazy shoppers crowd in

inundated with eager shoppers throughout the morning that day, costco sent messages to its members, saying that it would suspend business in the afternoon for security concerns and shopping experience.

crazy! china’s first costco shuts owing to overcrowding!

besides the crowds in the store, there were traffic jams around the store. the parking lot was full and it took 3 hours to wait. police were deployed to restore order and manage traffic jams, with law enforcement urging people to remain calm.

still popular the next day

learning from the open day, costco issued an apology on social media for chinese customers the next day, and began limiting the number of shoppers in its warehouse to 2,000 at a time. in order to lessen the disturbance to neighbors, local police assist in improving traffic in the area.

there were hundreds of people in line, though costco said it has improved their internal guest flow system. it is said that people need to wait at least one hour to enter the store.

more goods but cheaper

there are a wide range of goods in costco, including life supplies, food, clothing, digital products, and even luxuries.

shelves full of various commodities are eye-catching, while the real attraction is the price. it is reported that prices of general merchandise in costco are 30 to 60 percent lower than market prices and the food sold there is 10 to 20 percent cheaper.

designer and luxury bags like prada, chanel, and hermès are bought up quickly.

maotai, chinese most popular liquor, costs even cheaper than the official price and has been sold out in half an hour.

much less better and cheaper food and commodity. the following photo shows the crowds of people surrounding a roast chicken counter.

big potential market

there is no doubt that the low prices created a commotion. cost-effectiveness attracts consumers, which mainly are middle-class, to join and become members of costco.

before the first physical store opening, costco has had an online presence for five years in tmall, which is one of the most popular chinese online shopping platforms, through its partnership with chines e-commerce firm alibaba.

with china’s rapid economic changes and growing online and offline retail industry, there is big market potential for wholesalers like costco and sam’s club.

as for members, the membership-based retailing brings them a brand new consumption pattern and shopping mode. people can buy things much cheaper.

people flood the store while it is weekdays, it seems that costco needs to find effective ways to control guest flow for the coming weekend.

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source | cnn

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they all know how to get subsidy up to 30,000rmb! and you?

in order to provide more value-added services to our clients and friends who are doing business in china, hacos arranged a lecture – do’s & don’ts of employment issues in china to explain related china’s labour contract law on 28th july.

they all know how to get subsidy up to 30,000rmb! and you?

as an enterprise operator, with the growth of the company, in addition to keeping the company’s profits “alive”, you should also timely prevent all kinds of labor risks related to “employees” in the operation process.

we are honored to have james and ozzie, senior lawyers of pw & partners, and two other lawyers from singapore and malaysia coming to our lecture to communicate.

opening speech from hacos ceo – harvey

they all know how to get subsidy up to 30,000rmb! and you?

the lecturer ozzie used his professional perspective to give us a speech about the problems that may be encountered in the employment process and the ways to reduce the risk, with relevant cases and examples to make it easier for us to understand.

key points

introduction
legal risk control in the labor contract management
legal risk control of the recruitment stage
legal risk control in the rescission and termination of labor contracts
common legal risks of work injury insurance
issues concerning foreigners’ work visas and labor contracts

during the tea break,

everyone communicated freely.

the atmosphere was animated and everyone actively participated in the discussion. in the q&a of each session, james answered all questions from the guests patiently.

pw & partners is an international boutique law firm providing dedicated legal services across the spectrum of labor law, corporate law, ip law, competition law and dispute resolution. in 2019, pw & partners is selected as thomson reuters asia legal business (alb) 10 china firms to watch and recommended chinese labour law team by legal 500.

as business owners, you need to follow current events and policies of china closely at the same time. and how to obtain subsidies is also a long-term concern in the operation process.

in this part, we invite partner of hacos – leo, to share some useful policy knowledge with us. let’s learn about it.

let us answers some questions you want to know!

how can enterprises get government subsidies for hiring employees?

how much subsidy you can get?

since 2015, we have helped business owners get employment subsidies from guangzhou human resources and social security bureau for five consecutive years. if you want to know more information about it, welcome to add consultant coco to learn more.

hacos, as a business service solution master that focuses on foreign trade and provides all-round business services for enterprises, we not only solve the problems of:

industry and commerce,
finance and taxation,
logistics,
visa,
collection and settlement of foreign exchange.

but also continuously provide value-added services for enterprises in the service process. one of them is to apply for a labor subsidy of up to 30,000 yuan for an enterprise.

next month marks the mid-autumn festival, a traditional chinese festival, we sent moon cake for our clients as a gift.

after the lecture, everyone said that they had learned a lot of useful professional knowledge, and also gave high evaluation.

finally,

hacos would like to thank you again

for your support and participation.

the next topic lecture is in preparation,

if you want to know the other topics,

please let us know in the comments.

look forward to meeting you next time!

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now you can get a five-year residence permit easier in china!

as the issuance of twelve new special policies concerning permanent residence permits and visas in china, it is much easier and more convenient for foreigners to apply for long-term visas.

now you can get a five-year residence permit easier in china!

it is reported that yiwu exit-entry administration bureau has issued the first five-year chinese residence permits for work since the issuance and implement of the policies.

on aug 27, four foreigners from afghanistan, pakistan, jordan, and iraq, successfully applied for five-year residence permits in yiwu international trade center. it is more convenient and beneficial for them to live and work in yiwu.

there are more than 15,000 foreign merchants live and work in yiwu, one of the international trade reform pilots in china. these measures benefit foreign talents, foreign individuals working in china, outstanding youths, and expatriate chinese.

according to reports, the scope of eligible applicants for work-type residence is broadened. you are qualified to apply for the permit in yiwu as long as you are:

working steadily in the city;
abiding by laws and regulations with good credibility;
having obtained work-type residence permits more than one year consecutively twice or above;
having no violation of laws and regulations.

the new policies immensely improve yiwu’s business environment and help foreigners to invest their business. in the nearest future, these will be enacted nationwide.

60 new measures have been informed in the press conference held by the ministry of public security of china on july 17.

in order to promote the construction of free trade zones in china, twelve of these policies, concerning immigration and entry-exit, will be eventually promoted and replicated nationwide since august. the policies and measures cover four aspects:

the scope of application for permanent residence is expanded.
the scope of application for long-term visas and residence permits is expanded.
the scope of foreign talent introduction is expanded.
the level of service management for foreigners is improved.

the concrete polices as follow:

foreigners with high-end talent, outstanding contribution, and specialization meeting china’s special needs may apply for permanent residence in china, after being recommended by relevant departments. foreign spouses and minor children can also apply for the permit.

foreigners, who work in china for four consecutive years or above and actually inhabit in the territory for at least six months each year, can apply for permanent residence, with annual income 6 times more than the local average wage of the previous year, and annual individual income tax of over 20% from the annual wage standard.

ethnically chinese foreigners with doctoral degrees, or working in china for over four consecutive years and actually inhabiting for at least 6 months each year in the national key zones, can apply for the permanent residence.

foreign experts, scholars, and invited high-level professionals invited by established enterprises, and high-level managers recognized by relevant departments, can apply for a port visa entry or multiple visas and residence permits valid for up to 5 years.

foreign talents in national key fields and industries can apply for residence permits up to 5 years.

foreigners with outstanding contributions and meeting special needs can recommend other foreign members of their team for long-term visas or residence permits up to 5 years.

foreigners, who work for chinese enterprises or public institutions but have no time to apply for new working visas with current working permits, are eligible to apply for work residence permits.

foreign high-end talents working in key domestic institutions can apply for part-time employment in the innovation and entrepreneurial fields, with permission and records.

foreign students, who are outstanding with bachelor’s degrees and working in the innovation and entrepreneurial fields in china, can apply for residence permits valid for 2 to 5 years.

foreign students, graduating from key colleges and universities and working in china within two years after graduation, may apply for residence permits valid for less than 2 years.

foreign students from overseas colleges and universities, asked to work in china by domestic enterprises, can apply for visas valid for one year.

immigration affairs service centers or stations in areas with a large population of foreigners will be set up, in order to make their work, study and living more convenient.

such favorable policies are expected to courage foreigners who work in china to make the most of their talent and attract more outstanding foreign youths to china. these will be eventually implemented nationwide. to know more about the policies.

now you can get a five-year residence permit easier in china!

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source | 义乌市融媒体中心/china gov

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more and more chinese cities choose to…

you may hear loud music some passengers play in some public places like a subway. such uncivilized acts cause a disturbance to others and need to be regulated. kunming, the capital of yunan province, plans to ban these acts.