This guide has been prepared by the Zetland Financial Group Limited and is intended for the information of clients or prospective clients. As such, it is designed to provide general information about Investment Structures for China. The information set out is not, nor is it intended to be, exhaustive. Such information does not purport to be and is not legal, tax or other professional advice. Our aim has been to provide a broad overview. We will be pleased to offer more comprehensive and specific professional advice to individual clients depending on the situation.BackgroundChina has a poplualtion of more than 1.3 billion and covers an area of 9.6 million square kilometres. It is divided into 23 provinces, 5 autonomous regions, 4 Central Government municipalities, and two Special Administrative Regions (Hong Kong and Macau). The Chinese coastline is 18 thousand kilometres long with many commercial harbours. Early foreign investments, as a result of government policy, focused on the coastal provinces but increasingly the advantages of other provinces and inland cities are being discovered.Central Government MunicipalitiesBeijing the capital of China and the country's political, cultural and tourist centre, covers an area of 16,808 square kilometres with a population of 13.6 million. Beijing has the largest number and the most prestigious institutions of higher education and scientific research in the country. There are 73 institutions of higher learning in the city. At the end of 2003, there were more than 274,000 persons engaged in scientific activities. This strength in human capital is expected to help development of the Beijing-Tianjin-Hebei economic region.The service sector is now the largest sector in Beijing. In 2003, it accounted for 61.5% of the city’s GDP. Banking and insurance and social services are the two biggest sectors, accounting for 14.7% and 10.0% for the city’s GDP respectively. Further development and upgrading of the services sector is one of the policy objectives of Beijing’s 10th Five-year Plan, especially in information technology services, financial services, transportation and tourism.Chongqing the largest automonous municipality, has a total area of 82,400 square kilometres and a population of 31 million. The establishment of Chongqing municipality represents a major breakthrough of China’s initiatives to speed up economic development in the central and western regions. The Yangtze River’s Three Gorges Project will be very important in the development of Chongqing’s economy.Shanghai the most advanced and developed commercial and financial center of China, has a total area of 6,300 square kilometres with a population of 16.7 million. Shanghai contributes 5.3% of the nation’s GDP and 8% of the nation’s total industrial output value. Shanghai has China’s largest container port, which handled 11.3 million TEUs during the period of Jan-Nov 2004.Shanghai plays a leading role in China’s heavy industries and is a national leader in the production of chemical fibres, ethylene, cars, power generating equipment and personal computers. The six key industries of Shanghai are automobiles, petrochemicals and fine chemical, iron and steel, equipment, biomedicine, and electronic information.Tianjin has a total area of 11,919 square kilometres and a population of 10 million. Tianjin is an integral part of the Pan Bohai Bay Economic Zone, which is one of the three biggest economic zones in China. Tianjin has undergone rapid development growing at an average rate of 11.6% over the last 6 years.Tianjin Port, as the largest commercial port in North China, boasts China’s biggest containerised cargo dock. It handled 162 million-ton cargos in 2003. Tianjin International Airport is the largest cargo freight center in China. The city is well connected to other major cities by railroads and expressways.Tianjin is an important industrial center in northern China. Gross industrial output reached RMB 437.1 billion in 2003, ranked third after Shanghai and Shenzhen. Tianjin’s key industries include electronics, automobiles, metallurgy and petrochemicals.North Eastern RegionThe north eastern region include three provinces: Heilongjiang, Jilin, and Liaoning. The total area is amount to 800,000 square kilometres with population over 100 million. The growth rate of 9.2% is above the average rate but lower than other coastal provinces.Coastal ProvincesThe major coastal provinces running from north to south are Hebei, Shandong, Jiangsu, Zhejiang, Fujian and Guangdong. Guangdong province is the most developed and international thanks to Shenzhen and Hong Kong.Hebei has a total area of 187,700 sq.km, with total population of 67 million. Hebei province includes the Jing-Jin-Ji (Beijing-Tianjin-Hebei) Economic Region and the Bohai Bay Economic Region. Hebei’s GDP ranked the first in northern China and the fourth among all provinces and municipalities.Hebei is a major agricultural base in China with gross output value of agriculture ranked third in the country. In 2003, Hebei’s value-added industrial output totaled RMB180.2 billion. Leading industries in Hebei include smelting and pressing of ferrous metals; production and supply of electric power and heat; non-metal mineral products; petroleum and natural gas; chemicals; textiles and coal mining.Shandong lies in the Bohai Bay economic region. It spans a total area of 156,700 sq km, with total population around 90 million. It is China’s second most populous province.Major cities include Jinan, Qingdao, Yantai, Zibo, Weihai, Weifang, Dongying, Rizhao (collectively known as group of cities in Shandong peninsula). They represent 64.5% of Shandong’s GDP and are fast growing. In particular, Qingdao and Yantai are two of the largest ports in China.Shandong is endowed with rich mineral, agricultural and marine resources. It is the birthplace of Confucius and has many historic sites. Thus its tourism is well developed. Primary and tertiary industries are prosperous.Shandong is the 3rd largest industrial production base in China, after Guangdong and Jiangsu. Value-added of industrial output reached RMB470.1 billion in 2003, up 20.7% from 2002. Shandong is rich in natural resources, particularly oil and coal therefore the excavating and energy industry is strong. It has the second largest oil field (Shengli Oil Field) in China. Its output of crude oil accounts for 15.7% of the national total, after Heilongjiang. In its southern part, collieries cover a large area, whose production accounts for 8.8% of the national total, after Shanxi.Jiangsu is located at the eastern part of the Yangtze River Delta, next to Shanghai. It has a nearly 1,000km long coastline. Jiangsu has a total area of 102,600 square kilometres, with a population of 74 million. Jiangsu’s GDP ranks second in China, since 1993 accounting for more than 10% of the national total. The southern Jiangsu area, which is part of the Yangtze River Delta economic region is the province’s economic hub, accounting for 62.8% of Jiangsu’s GDP in 2004. The southern Jiangsu area covers 5 cities – Suzhou, Wuxi, Changzhou, Nanjing and Zhenjiang.Although a bastion of heavy industry, In recent years, Jiangsu is moving towards the development of new and high technology products. For instance, Suzhou is the main destination of Taiwan’s investment in the mainland mainly in high technology industry. Jiangsu pays much attention to three hi-tech industries — IT, new material and heavy petrochemical, and new medicine. Jiangsu has now become an important IT manufacturing base. Many Taiwanese and international IT manufacturers are attracted to invest in Kunshan and Wujiang for its proximity to Shanghai, yet it is cheaper relatively than Shanghai in land and labour costs.As one of the smallest provinces, Zhejiang has a total area of 101,800 square kilometres and its total population is around 45 million. The northeastern Zhejiang area is part of the Yangtze River Delta metropolitan region and is the province’s economic hub. It covers 6 cities / counties - Hangzhou, Ningbo, Jiaxing, Huzhou, Shaoxing, Zhoushan. Zhejiang has one of the longest coastlines in the country, and has excellent sea / river transport e.g. Ningbo is one of the largest ports in China.Zhejiang is the fourth largest industrial production base in China after Guangdong, Jiangsu and Shandong. Industries in the northeastern region are more developed than that in the southwestern region. Major industrial production bases are Hangzhou, Ningbo, Wenzhou, Jiaxing, Huzhou, Shaoxing, Jinhua, Quzhou, Zhoushan, Taizhou and Lishui.Fujian is located in the south eastern coastal area along the Taiwan Straits, opposite to Taiwan. It has a total area of 121,400 square kilometres with a population of 34 million. The Southeast Fujian area, consists five cities and counties -- Fuzhou, Xiamen, Putian, Quanzhou and Zhangzhou. Xiamen is a Special Economic Zone and the economic hub of Fujian.Light industry is well developed. Leading industries in Fujian include electronics and telecommunications, machinery and equipment, textiles and garment, food, leather and electric power. Paper, watches and clocks, cans, leather shoes and bags, furniture and crafts are major products, each ranking the top three in the nation.Guangdong has a total area of 179,756 square kilometres with a population of 90 million. The Pearl River Delta (PRD) Economic Zone is the province's economic hub, accounting for 80% of Guangdong's GDP. The PRD Economic Zone covers 14 cities and counties -- Guangzhou, Shenzhen, Zhuhai (both Special Economic Zones), Foshan, Jiangmen, Dongguan, Zhongshan, Huizhou city, Huiyang county, Huidong county, Poluo county, Zhaoqing city, Gaoyao and Sihui.Guangdong's economy has led China in many ways:The largest GDP among all provinces and municipalities, accounting for 11.7% of the national total.The highest industrial output value among all provinces and municipalities, accounting for about 13% of the national total.The largest export value among all provinces and municipalities, accounting for 32.3% of the national total.The largest retail sales value of consumer goods which accounted for about 12% of the national total.Guangdong's manufacturing industries have developed rapidly as a result of foreign investment, particularly in the PRD Economic Zone. It is noteworthy that Guangdong is a major export-processing base for foreign investors mainly from Hong Kong and Taiwan. Cities that have the largest industrial production include Guangzhou, Shenzhen, Dongguan, Foshan, Huizhou, Jiangmen and Zhuhai.Guangdong is strong at light manufacturing industry. Output of light industries used to account for over half of the province's total industrial output. Major products include electrical appliances such as television sets, electrical fans and refrigerators, and other consumer products like garments, bicycles, toys, shoes and electronics. Exports of most of these products rank the highest in China. In recent years, Guangdong's has been moving towards heavy, new and high technology industries including chip fabrication and aerospace.Other ProvincesFor the past ten years China first tried to open up the entrance of coastline provinces as a so called “try out point policy”, and the result turned out to be tremendously fruitful. Now other inland local province governments are mirroring the success with central government’s help. Many major public infrastructures projects are now permitted to have direct foreign investments, which was impossible in the past. Many other advances and even tax break incentives are provided to foreign investors for investing in specific areas.Structures for InvestmentsIt is reasonably complicated for a foreign firm to setup a business in China. The three typical methods of doing so are Representative Offices, Wholly Foreign Owned Enterprises and Joint Ventures. The regulations, tax treatment, business categories, and requirements for each type of business are different. These differences are not only limited to the types of business, but are also specific to each province, city and sometimes district.The general information below is intended to give a general idea of the major holding structures but detailed advice is necessary since each case is different. Zetland has years of experience in helping clients to start operations in China and is able to further assist. Zetland also has an extensive network of professional advisers to tap into in China.Representative OfficeAs the name suggests, this type of entity is set up for representing the parent company in China. It is the easiest and most cost-effective method to establish an initial presence in China. Foreign enterprises can set up one or more representative office in high profile cities, such as Shanghai, Beijing, Shenzhen, Guangzhou, and Tianjin.Representative offices are permitted to conduct non-profit making activities, such as liaison with clients, market research, quality control, technology exchange, marketing and sales administration, etc. Representative offices are not permitted to conduct any profit making activities in China.Applicants for setting up a representative office must show a record of being legally registered in their home jurisdiction for at least 12 months. The documents filed with the licensing authority must be translated into the Chinese language. A set of corporate documents has to be notarised, apostilled and authenticated by a China Embassy.Depending on the province, city and/or district, taxation of the representative office is assessed on declared expenses at the rate of 7% - 10%. The funds for the representative office must be transferred directly from the parent company.Wholly Foreign Owned EnterpriseA Wholly Foreign Owned Enterprise (“WFOE”) is the most popular choice for the foreign company seeking to do business in the fields of international trading, manufacturing, processing, assembling or other profit making activities.A WFOE is a Chinese limited liability company which is established with 100% foreign capital and is, therefore totally under the foreign investors’ control. The registered capital may be paid up through a combination of equipment and cash. A WFOE's operations, including what it can or cannot do, capital structure, financial and accounting practices are governed by the articles of association. The minimum registered share capital, which has to be paid up within the initial twelve months of operations, is normally US$140,000. The amount depends on the nature of the WFOE’s business and the registered share capital can be significantly higher for certain heavily regulated areas of business.The tax rate for WFOE varies based largely on where it is registered. Generally, a WFOE is subject to a business tax of 5% for selling goods or services in China. A rate between 15% - 33% on profits tax will be charged by the provincial and city governments.Many cities in China now offer incentives via special economic and free trade zones to WFOEs primarily engaged in exporting and re-exporting. These zones usually provide attractive tax breaks to encourage foreign investment. The rates and terms are usually different from zone to zone and city to city. Certain areas of business, such as high technology, manufacturing and agriculture are favoured.For companies seeking to access the local market, it is important to know that the Chinese government defines foreign goods and services under three categories: “encouraged”, “limited” and “prohibited”. Each has its own requirements and regulations that guide the activities of the WFOE. In addition, it is important to mention that China’s internal reform of the legal, financial, accounting and tax standards is an ongoing and often confusing process that is evolving to meet World Trade Organisation requirements.Joint VentureA Joint Venture is a legal entity in China that is usually composed of two parties: foreign investor(s) and Chinese investor(s). This business arrangement is usually set up by equity or cooperative methods. The main difference between Equity Joint Ventures and Cooperative Joint Ventures is the allocation of profits. The Cooperative Joint Venture offers more flexibility than the Equity Joint Venture.The Chinese government favours and encourages this form of arrangement for obtaining advanced technology, modern administration and management skills. In return, foreign investors are able to access the Chinese market and enjoy low labour and production costs.A Joint Venture may be more suitable for business activities deemed “limited” and “prohibited” by the Chinese government. These include, but are not limited to, restaurants, bars, construction, car production and cosmetics. These types of business activities would NOT be approved as WFOEs by the Ministry of Foreign Trade and Economic Cooperation.How Zetland Can HelpAlthough China has developed greatly in the past 30 years doing business there can often be confusing, frustrating and damaging to one’s financial well-being should experiences and competent professional advice not be obtained. Zetland is based in Hong Kong – still the premier gateway to China and has a team of experienced locals who are fluent in Mandarin. Zetland maintains a liaison office in Shanghai and executives travel frequently throughout the country. Zetland can enlist the help of many professionals including lawyers, accountants, real estate agents and marketing experts. Of particular note is Zetland’s sister human resources company – Gemini Personnel which has offices in Shanghai, Beijing and Guangzhou providing recruitment of permanent and temporary staff.
Source: Free Articles
Computer Asseccery
วันอังคารที่ 27 มกราคม พ.ศ. 2552
Guide to Investment Structures for China
The Differences Between How Parents and Society Teach Boys and Girls Financial Awareness
Source: Free Articles
http://www.lakyo.com
http://anuchpsc.blogspot.com
http://yosaa.blogspot.com
http://www.fslinux.com
วันจันทร์ที่ 26 มกราคม พ.ศ. 2552
Four Hot Panoramic Spots in Paris
In this article, Paris expert Phil Chavanne selects four elevated spots from which Paris can be best viewed.To my friends who take the trip to Paris I always recommend to 'look up while walking'. Paris should not be visited at eye level only; there is much to be seen upstairs, just like in New York City. Climb to an elevated position, and you've got yet another view of the French capital. A number of apartment buildings located on the Montmartre hill and in the nineteenth district offer panoramic views from their highest floors, but supply is short and not everyone can secure a temporary dwelling place with a million-dollar view. So I picked four easy-to-access vantage points from where to admire the Parisian panorama. Some are self-obvious, others are not as well known. All are yours for the enjoyment.Granted, some of these spots were obvious picks. But I bet you don't know a couple of them. Here is the story.The Montparnasse TowerThe Montparnasse Tower is my first pick. As a matter of fact, it is one of the best man-made elevations you can get for the money in Paris.The construction of the Montparnasse Tower started in 1958 and was completed in 1972 after a much heated public debate. Just like the Louvre Pyramid, and the Beaubourg Museum of Modern Art, the building of the skyscraper sparked two decades of furious controversy. The Montparnasse area used to be a small, quaint village, and the locals didn't like the idea of having a 210-meter high structure disfigure their landscape.The huge anthracite structure towers over the Montparnasse train station, and stands at the upper end of Rue de Rennes (Rennes St.). Because it was built off-axis, the Tower gracefully avoids closing the long perspective which connects Montparnasse to the St-Germain-des-Pres district. Thank the architects for their vision.The Montparnasse Tower counts 59 floors crowned by a terrace which is accessible by helicopter. One of its 25 elevators is the fastest in Europe: it will take you to the top floor in 38 seconds flat. There is a bar on the 56th floor where you can enjoy the view sheltered from the wind.Eiffel TowerOK, that one was so self-obvious, it's puzzling why I even picked it. Never mind, I like this spot as it is undoubtedly the best vantage point to view 360? of Paris. Just a few facts: the Eiffel Tower is 324-meter high (including flagpole). Its first floor stands at 57 meters above the Seine, its second floor at 116 meters. It is 117-year old, and weighs 'only' 10,100 metric tons, concrete footing included.Two elevators access both floors every 8 minutes. Note that this is without counting the time you spend waiting in line, since the Eiffel Tower is visited by about 6 million people each year (that means, an average 22-minute wait to enter the structure). If you have a taste for sport, take the stairs: 1665 steps to the very top - though this figure is a bit misleading since access to the third floor by stairs is restricted.The first and second floors are home to two restaurants: Altitude 95, and Le Jules Verne, respectively. Both offer a rewarding dining experience. Circling each floor, a map points to the monuments around you. I advise you to take a windbreaker with you; there is practically no obstacle on the platforms to shield you from the chilly wind.Arch of TriumphThis vantage spot isn't just as well known as Mr. Eiffel's tower. Yet, it offers a very interesting panoramic view of Paris.Commissioned in 1806 by French dictator Napoleon the 1st, the Roman-style structure was completed in 1836 under King Louis-Philippe. Its four pillars display the names of French military victories, and its base shelters the final resting place of an unknown French soldier who died on the killing fields of Eastern France during WWI.The structure is hollow, and can be visited. The ticket booth is located under the plaza on which the Arch is built. It can be accessed at the end of a tunnel opening at the upper end of the Champs Elysees Avenue. Taking the tunnel is a much safer option than trying to cross the traffic-laden plaza on foot. The entrance door opens into one of the two pillars facing the Champs Elysees Avenue. Several flights of stairs will lead you to the top of the Arch, which towers above the twelve avenues emanating from the star-shaped Place de l'Etoile. Inside the Arch, a small museum describes how it was built.Telegraph Street, Belleville ParkI bet you didn't know this one! Who ever heard of the Belleville Highs? Mind you, this area is quite interesting, and it offers a good panoramic view of Paris.The highest natural elevation in Paris stands at 40 Rue du Telegraphe (40 Telegraph St.), where the Belleville Cemetery has its entrance. The street took its name after French inventor Claude Chappe. He had picked the 128-meter high spot to set up his 'tachygraph', a precursor of the telegraph. Just down from Telegraph St., the nearby neighborhood is dubbed "Hauts de Belleville", or "Belleville Highs". Belleville (literally "beautiful town") used to be an independent commune built on a hill outside Paris until 1860. Though the renovation of the district has been underway since the end of the 80's, Belleville buildings still illustrate the conditions in which the poor and the working class lived in the early part of the twentieth century. Some streets of the area aren't very safe at night; I advise you to tour the area in broad daylight.The best vantage point of the district is the Belleville Park which was opened in 1988. This expanse of land is tucked between Rue des Couronnes, Rue Piat, Rue Jouy-Rouve, and Rue Julien-Lacroix. Its grassy slopes extend all the way to the bottom of the hill. The park features The Air Museum, which offers its visitors a full explanation of how pollution affects our daily lives. Tourists can follow the guided tour in English.A last comment in regards to the Telegraph Road: visit the area on Wednesdays and Saturdays, and you will do your grocery shopping at the local fresh produce market, between 7 am and 2:30 pm.
Source: Free Articles
Four Hot Panoramic Spots in Paris
Source: Free Articles
Age Is No Challenge To Owners Of True Blue Coffee Roasters
Source: Free Articles
http://www.lakyo.com
http://anuchpsc.blogspot.com
http://yosaa.blogspot.com
http://www.fslinux.com
9 Secrets to Making Laser-Accurate Financial Decisions
Source: Free Articles
http://www.lakyo.com
http://anuchpsc.blogspot.com
http://yosaa.blogspot.com
http://www.fslinux.com
Avian Flu Crisis BMO Nesbitt Burns Economic Update
Source: Free Articles
http://www.lakyo.com
http://anuchpsc.blogspot.com
http://yosaa.blogspot.com
http://www.fslinux.com
Is Safelist Marketing Challenging?
Source: Free Articles
http://www.lakyo.com
http://anuchpsc.blogspot.com
http://yosaa.blogspot.com
http://www.fslinux.com
Reprinting Articles: 10 Smart Strategies to Sidestep the Duplicate Content Debate
Source: Free Articles
7 Things Every Webmaster Should Know About Links
Source: Free Articles
http://www.lakyo.com
http://anuchpsc.blogspot.com
http://yosaa.blogspot.com
http://www.fslinux.com
"Can I Save the World?" Easy Solutions to Global Warming at our Fingertips
Source: Free Articles
http://www.lakyo.com
http://anuchpsc.blogspot.com
http://yosaa.blogspot.com
http://www.fslinux.com
"Can I Save the World?" Easy Solutions to Global Warming at our Fingertips
Source: Free Articles
http://www.lakyo.com
http://anuchpsc.blogspot.com
http://yosaa.blogspot.com
http://www.fslinux.com
คลังบทความของบล็อก
-
▼
2009
(130)
- ► กุมภาพันธ์ (36)
-
▼
มกราคม
(31)
- Guide to Investment Structures for China
- The Differences Between How Parents and Society Te...
- Four Hot Panoramic Spots in Paris
- Four Hot Panoramic Spots in Paris
- Age Is No Challenge To Owners Of True Blue Coffee ...
- 9 Secrets to Making Laser-Accurate Financial Decis...
- Avian Flu Crisis BMO Nesbitt Burns Economic Update
- Is Safelist Marketing Challenging?
- Reprinting Articles: 10 Smart Strategies to Sidest...
- 7 Things Every Webmaster Should Know About Links
- "Can I Save the World?" Easy Solutions to Global W...
- "Can I Save the World?" Easy Solutions to Global W...
- Home Employment - Your Guide To Home Employment
- Eliminate Hidden Dangers by Encouraging Early Mone...
- Media Apocalypse Now!
- Loyalty Is Built Through C.A.R.I.N.G. Service
- The Three Pillars of Work From Home Business Success
- What Hackers Know About Your Network - That You Do...
- Review of Alternative Treatments for Arthritis Pai...
- The Science Behind Pheromones
- Life Outside Internet Marketing: An Interview
- Why Choose the Creative Question Approach
- Forecast America 2008 - The Church and the Nation
- Second Step In The Journey To Success
- How to Make Money on the Internet: A Beginners Blu...
- 12 Things You Really Should Know About SEO
- Buying A Business - The Basics
- The Myth and Mystique of a Black Pearl Necklace
- Sports Clips
- A Hobby That Requires Balance
- Ready Made Picture Frames are a Great Choice for A...