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china just approved foreign investment law!

just now! foreign investment law was officially approved in the second session of the 13th npc! how does this new foreign investment law affect the foreigners in china?

let’s see!

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china just approved foreign investment law!

© image | 人民网

the final draft of foreign investment law was approved by 2929 national people’s congress lawmakers in the great hall of the people, with 8 opposing the measures and 8 abstaining.

china just approved foreign investment law!

© image | 环球网

the new law will come into effect on january 1, 2020.  

1
process, attempt, fear

the new law was first introduced as a draft in 2015, but its progress picked up markedly since the middle of last year to address issues in the key to the us-china trade war.

the chinese government appears to have rushed through the investment law as an olive branch to the us amid trade war negotiations.

china just approved foreign investment law!

© image | google

however, many in the business community here in china see this law as a kind of sweeping set of intentions rather than a specific, enforceable set of rules. 

they fear it could be open to different and changing forms of interpretation.

2
what does foreign investment mean?

investment activities directly or indirectly conducted by foreign natural persons, enterprises and other organizations.

❶ a foreign investor establishes a foreign-funded enterprise independently or together with any other investor

❷ a foreign investor acquires shares, equities, property shares or any other similar rights and interests of an enterprise within the territory of china

❸ a foreign investor invests in any new construction project independently or together with any other investor

❹ investments stipulated in laws, administrative regulations, or defined by the state council

3
how doing business will change?

the bill will eliminate the requirement for foreign enterprises to transfer proprietary technology to chinese joint-venture partners and protect against “illegal government interference” – major sticking points in the trade negotiations.

china just approved foreign investment law!

© image | google

it also promises to abolish the “case-by-case approvals” process for foreign investments, officials say.

the changes will ensure that foreign investors will enjoy the same privileges as chinese companies in most sectors.

4
amend/attempt
  • government procurement covers both goods and services;

  • strengthen accountability for intellectual property infringement;

  • make it clear that “administrative personnel shall not disclose trade secrets“;

  • adjust the provisions of relevant chambers of commerce and associations;

  • the law is also applicable to company law and partnership enterprises law;

  • the state council is authorized to formulate specific implementation measures for the transition of foreign-invested enterprises;

  • show the requirements of “streamline administration, delegate powers, and improve regulation and services“.

how to check your tax records in china?

in recent years, china has urged many outstanding tax abatement reforms since 2017. what’s more, a remarkable individual income tax reduction policy issued in oct 2018, facing the challenge of designing and carrying out new reforms of its taxation system. 

the aim of the new law is to ease the tax burden for low to mid-income earners while taking a tougher stance on both foreign workers and high-income earners.

how to check your tax records in china?

the tax record becomes increasingly important and will soon be connected to the paperwork that requires for almost any formal procedure, for example, your work permit renewal. 

you’d better provide your relevant tax report before getting approved to continue with any kind of legal procedure in most major chinese cities (like beijing shanghai and shenzhen only part of applications).

the following 4 ways will tell you how to check your tax records.

01

company account

nevertheless, the paper only shows your salary income tax records under this company and not available for the work permit renewal procedure!

02

tax bureau hall

go to any tax bureau hall to print your tax report, which is a full edition with tax bureau stamp and your tax number.

how to check your tax records in china?

by arm machine on the self-tax service hall, you can print your tax report if your passport enabled in the tax system, or if you get the “registration code”.

how to check your tax records in china?

here is the formal tax report:

how to check your tax records in china?

03

online

visit https://gr.tax.sh.gov.cn/webchart

1) the login interface as below:

how to check your tax records in china?

2) apply a “registration code” in the local tax bureau(suggested way for foreigners).

how to check your tax records in china?

3)“registration code” can be applied from the tax bureau hall for foreigners.

how to check your tax records in china?

4) after you register and log in, click“individual income tax report application” (“个人所得税纳税清单查询和申请”) 

how to check your tax records in china?

5) all your 2018 tax records here, click the arrow on the right side to see all the details, including which company paid the tax on your behalf, the amount of salary declaration and amount of taxes paid for every month.

how to check your tax records in china?

how to check your tax records in china?

6) click on the “tax list and report application”(“申请纳税清单”) and the system will organize the report and send it to your verified email.

how to check your tax records in china?

how to check your tax records in china?

how to check your tax records in china?

how to check your tax records in china?

below is the final version of the tax report that you will get, this one can be for work permit renewal or any other procedure:

how to check your tax records in china?

04

alipay

the easiest and most convenient way to get tax report

1) click on “city service” in alipay app

how to check your tax records in china?

2) choose “government affairs”(政务)

how to check your tax records in china?

3)and then click “tax hall”(税务大厅)in the section of “tax affairs”(税务)

how to check your tax records in china?

4) you’ll see the homepage of the tax system

how to check your tax records in china?

if you want to know more information in detailed, please contact us, seeking professional advice from the accountant in our company.

easy!paying subway fare via your face will soon be in china!

china has led the world in adoption of smartphone-based mobile payments to the point where the central bank had to remind merchants not to discriminate against cash. the next phase of development may be to pay with your face.

easy!paying subway fare via your face will soon be in china!

© image | google

in shenzhen, the local subway operator is testing various advanced technologies backed by the ultra-fast 5g network, including facial-recognition ticketing.

facial-recognition ticketing
 

at the futian station, instead of presenting a ticket or scanning a qr bar code on their smartphones, commuters can scan their faces on a tablet-sized screen mounted on the entrance gate, and have the fare automatically deducted from their linked accounts.

easy!paying subway fare via your face will soon be in china!

© image | google

currently, in a trial mode, the facial-recognition ticketing service could in future help improve the efficiency of handling the up to 5 million rides per day on the city’s subway network. 

 

easy!paying subway fare via your face will soon be in china!

© image | 腾讯网

 

shenzhen metro did not elaborate when it will roll out the facial payment service.

easy!paying subway fare via your face will soon be in china!

easy!paying subway fare via your face will soon be in china!

© image | 腾讯网

the introduction of facial recognition-and-payment services to the public transit system marks another step by china toward integrating facial recognition and other artificial intelligence-based technology into everyday life in the world’s most populous nation.

easy!paying subway fare via your face will soon be in china!

© image | 腾讯网

ai-based technology

consumers can already pay for fried chicken at kfc in china with its “smile to pay” facial recognition system, first introduced at an outlet in hangzhou in january 2017.

easy!paying subway fare via your face will soon be in china!

© image | google

to use facial ticketing in the future, passengers will also need preregistration of their facial information and link their payment methods to their accounts, just like them making payments at the kfc restaurant,” said a staff member at the futian station’s demonstration area in shenzhen.

chinese cities are among the most digitally savvy and cashless in the world, with about 583 million people using their smartphones to make payment in china last year, according to the china internet network information center. 

 

nearly 68 percent of china’s internet users used a mobile wallet for their offline payments.

easy!paying subway fare via your face will soon be in china!

© image | google

“ai screen”
 

major chinese cities like beijing and shanghai are using artificial intelligence and facial recognition to regulate traffic and identify drivers who violate road rules. 

 

in shenzhen, traffic police also began displaying photos of jaywalkers on large led screens at major intersections starting in april 2017.

passers-by at the demonstration area in futian station will see their information displayed on a big screen, including their facial photos captured by surveillance cameras, their gender, age, and the length of stay in the area.

easy!paying subway fare via your face will soon be in china!

© image | google

the 5g-backed ai technologies were developed by an innovation laboratory backed by the metro operator and huawei technologies, according to shenzhen metro.

 

easy!paying subway fare via your face will soon be in china!

© image | google

the subway operator said that the speed and connectivity of 5g can provide higher efficiency and quality of network connection for subway equipment at a lower cost.

easy!paying subway fare via your face will soon be in china!

huawei contributed ai algorithms via its public cloud, the shenzhen-based company said in a statement.

are you looking forward to it?

 

easy!paying subway fare via your face will soon be in china!

© image | google

[good stocklots goods] – lighting!

hacos has cooperated with many stock factory in yiwu, zhongshan, guangzhou etc., we provide purchasing, orders following, cargo, one-stop services. we’ll share you some good stock goods from time to time. 

 

hacos现跟多家在义乌,中山,广州等库存工厂合作。我们提供采购,跟单,物流,一条龙服务。我们会时不时跟您分享好的库存货。

 

[previous stock products]

below are the new stock-lots in for lighting.

这期我们要介绍的库存——照明灯

 

1

 

[good stocklots goods] - lighting!

track light
stock location: zhongshan

 

2

 

[good stocklots goods] - lighting!

led bulb light
power:24/36/50
stock location: zhongshan

 

3

 

[good stocklots goods] - lighting!

sensor light
diameter:6.5cm
stock location: zhongshan

 

4

 

[good stocklots goods] - lighting!

street light
power:160w
shell material: aluminum
stock location: zhongshan

 

5

 

[good stocklots goods] - lighting!

spot light
stock location: zhongshan               
6

 

[good stocklots goods] - lighting!

t8 led tube
length: 0.9/1.2meter
stock location:zhongshan
7

 

[good stocklots goods] - lighting!

usb light
stock location: zhongshan
8

 

[good stocklots goods] - lighting!

bedside lamp
colorwhite
stock location: zhongshan

 

9

[good stocklots goods] - lighting!

led string light
color:blue/white/colorful
stock location:zhejiang

for more detail informations, 

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 [good stocklots goods] - lighting![good stocklots goods] - lighting![good stocklots goods] - lighting!

[good stocklots goods] - lighting!

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