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foreigners can trade a-shares next month!

china has approved regulation amendments, allowing qualified individual foreign investors to open securities accounts to trade a-shares next month.

foreigners can trade a-shares next month!

image | google

the updated regulation, which will take effect on sept. 15, will allow foreign individuals working in the chinese mainland to open a-share trading accounts, a move to further open up the securities market, according to the china securities regulatory commission (csrc).

the move will expand the investor base, introduce more liquidity and improve the structure of the securities market, the csrc said on its website.

eligible foreign investors must come from countries or regions that have established regulatory cooperation mechanisms with the csrc, according to a separate statement issued by the china securities depository and clearing corporation (csdc).

starting from sept. 15, qualified foreigners can apply for a-share securities accounts by submitting application materials, including an application form for starting security accounts, a passport and its copy, and proof of employment issued by a domestic institution.

the csrc also expanded the equity incentive objects of foreigners working at companies listed on the a-share market from those working in the mainland to all foreign employees.

in april 2013, the a-share market was opened to residents from hong kong, macao, and taiwan who work or live in the mainland. by the end of july, 125,000 qualified residents from these regions have opened a-share securities accounts, according to data from the csdc.

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“all-in-one” talent card for expats introduced in hangzhou!

hangzhou, zhejiang province has recently launched a talent card program amid efforts to attract high-caliber overseas professionals, according to a conference held on aug 12.

the program, which will take effect on aug 20, focuses on six areas of expat life in hangzhou, including 

  • working permits, 

  • education, 

  • medical healthcare, 

  • business insurance, 

  • housing support 

  • life services. 

the card is also known as the “all-in-one” card.

image | google

who can apply for?

high-caliber workers who…

  • have obtained the tier a working permit in china or 

  • received approval by the foreign experts bureau 

can apply for the talent card and enjoy preferential policies issued by hangzhou government.

what are the benefits?

benefits cover a work permit, child education and medical care. cardholders will also enjoy subsidies in house purchases and rental, while hangzhou will open all its elementary and middle schools to children of top international talent. besides, the city will also employ international teachers to improve education quality.

the program also reveals that every high-caliber overseas professional who works in hangzhou will be provided with a citizen card and enjoy the same treatment as locals. those who have obtained the tier a working permit in china can apply for credit cards and engage with other financial services.

image | google

“hangzhou has been leading the country in offering overseas professionals with all-round services. with the citizen card, they will have easy access to many local services, including parks, gyms, public transport and scenic spots”, said an official from hangzhou foreign experts bureau.

in recent years, hangzhou has actively built itself into a magnet for overseas professionals. to date, around 15,000 overseas professionals and over 5,000 foreign-funded companies have settled in the city.

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to apply for 2-5 years work visa in china? check it out!

many subscribers often ask us, how to apply for a work visa and residence permit for more than one year? of course, applying for a long-term work visa / residence permit will make your life more stable and flexible.

to apply for 2-5 years work visa in china? check it out!

image | rednet.cn 

# the following are some of the qualifications for a long-term work visa

2-year work visa

  • for the past 5 years, you have a work visa.

  • have a 2-year work permit with a-level.

  • manager / inspector at the “operation center” of an international company.

3-year work visa

  • work at the regional headquarters of an international company.

  • department manager of the company with a capital of more than $3 million.

  • manager of a high-tech company/encouraging or importing and exporting foreign investment companies.

  • legal representative / general manager / deputy general manager / chief financial officer of the international company “operation center”.

  • have a valid 3-year work permit for class a.

4-year work visa

  • technician in the r&d(research and development) department.

  • department manager of the investment company.

  • department manager of the regional headquarters of the international company.

  • have a 4-year working a-level work permit.

5-year work visa

  • have a continuous work visa for the past 2 years and have a good tax record.

  • overseas chinese.

  • have 2-year work visa twice.

  • senior talent of 5 years term.

  • have a 5 year valid class a work permit.

  • awarded the honorary citizen or magnolia award.

  • legal representative / general manager / deputy general manager / chief financial officer of a high-tech company / encouragement or import and export foreign investment company.

  • legal representative / general manager / deputy general manager / chief financial officer of the international company / r & d center / investment company regional headquarters.

  • legal representative / general manager / deputy general manager / chief financial officer of the company, with a capital of more than 3 million us dollars.

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to apply for 2-5 years work visa in china? check it out!

apple removes 25,000 apps from chinese app store!

apple has reportedly pulled more than 25,000 apps from its app store in china that were deemed to fall foul of chinese regulations. at least 4,000 of these apps were tagged with the word “gambling,” according to bloomberg, while the 25,000 figure comes from state broadcaster cctv.

apple removes 25,000 apps from chinese app store!

image | google

 

“gambling apps are illegal and not allowed on the app store in china,” apple said in an statement sent to bloomberg and the wall street journal. 

“we have already removed many apps and developers for trying to distribute illegal gambling apps on our app store, and we are vigilant in our efforts to find these and stop them from being on the app store.”

“apple itself has set up the rules on how to allow apps onto its store, but it didn’t follow that, resulting in the proliferation of bogus lottery apps and gambling apps,” the wall street journal quoted cctv as saying on sunday.

apple removes 25,000 apps from chinese app store!

image | google

the move follows a period of increasingly negative reviews of apple in china, often accusing the company of not doing enough to combat illegal online activity. 

the news of a mass removal of gambling apps isn’t surprising, then, but it’s a reminder of how foreign companies must follow chinese law when operating here.

the issue has gained prominence recently because of google’s controversial plan to re-enter china with a censored news and search app, which has sparked protests within the company.

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