China

China is a sovereign state located in the East Asia & Pacific region. It is the world-largest-population country and the modern centre of both business and technological innovations. The Bloomberg list of the Most Innovative Countries ranks China as the 16th in the world and the graph shows the growing-up tendency. According to the authoritative research “Doing Business” China ranks 46th in the world for the ease of doing business. 

 

Besides, China is an active member of the number of international and regional organizations, such as the United Nations Security Council (permanent member), WTO, G20, the Shanghai Cooperation Organization, APEC, BRICS, and BCIM. 

 

In order to boost up import activities and attract foreign traders, the Chinese government has established 12 FTZ (Free Trade Zones), which include: Chongqing, Sichuan, Shaanxi, Henan, Hubei, Shanghai, Zhejiang, Fujian, Zhuhai, Shenzhen, Guangzhou and Hainan FTZ.  There are some main features of FTZ, for example: 

• the easier process of registration; 

• fast customs clearance; 

• and if goods are transported further, there is no need to pay taxes in China. 

 

There is also a list of benefits for the wholly-owned foreign enterprises, established in FTZ: 

• no import tax; 

• less strict foreign exchange control; 

• possibility to hire Chinese employees; 

• easier process of registration.