Why Shenzhen can be ranked second in the World's Top Ten travel cities?

At the end of October, "Lonely Planet", the international travel guide that was regarded as the “Travel Bible”, published the Top Four best travel destinations in the world in 2019. Shenzhen ranked second in the World's Top Ten travel cities, becoming the only city in China to be among the Top Ten.Almost at the same time, the World Travel & Tourism Council (WTTC) released the latest report, “The Impact of Urban Tourism and Tourism in 2018”, which ranked according to the GDP contributed by the tourism industry. Shenzhen Tourism was shortlisted with a score of US$19 billion. Ranked Tenth in the world's top ten tourist cities.In Shenzhen's tourism GDP, the proportion of GDP from international tourism is about 35%. This data is 12% to 13% in Shanghai and Beijing.For these, the person in charge said that business travel has contributed.Shenzhen has always been an emerging modern city at the forefront of economic development. Frequent business travel activities have helped the rapid development of tourism in the entire city.As of the end of June 2018, there were 219 enterprises that listed in Fortune's top 500 companies in the world to conduct the deep-investment projects in China. Over 975 projects have been invested over the years, with a total investment of 93.291 billion US dollars and contractual foreign investment of US$200.75 billion, the actual use of foreign capital was 14.29 billion US dollars. Among the Shenzhen headquarters enterprises (139), there are 36 foreign-funded enterprises, accounting for 25%.Frequent business contacts between enterprises have brought teh huge flow of passengers to Shenzhen.In addition, the selection criteria for "Lonely Planet" provides us with another way of thinking about the attractiveness of urban tourism - Coordinated Development.As the only city in China to be ranked in the Top Ten, Shenzhen received a comment: a pioneering metropolis with a free spirit, rich in art, nightlife, musicals, and diverse dining and shopping.At the beginning of urban planning and construction in Shenzhen, all aspects of public cultural facilities, environmental space, and traffic roads were considered and reached international standards.Moreover, the development of Guangdong FTZ(Shenzhen Area) also attract more foreigners. 

The five points that you need know before company registration in Shanghai FTZ

Since the establishment of the Shanghai Free Trade Zone, it has attracted more and more entrepreneurs to choose to register in the Free Trade Zone. Because many investors are the first time to register a company, there is very little understanding of the relevant requirements for registering a company in the Free Trade Zone. Tanikawa has compiled 5 points that you should know before signing up for the Shanghai Free Trade Zone company registration!1. How many employees do you need to register for a free trade zone?A company needs at least four positions to be established, namely shareholders, legal representatives, company supervisors and company accounting.2. How to determine the company's business scope?The business scope of the company is selected according to the business type of the company. The statement of the business scope of the Shanghai registered company is regulated. You can refer to the business scope of the same industry with your company. If the business scope does not include the specific business of your company, it is easy to be determined by the relevant departments to operate beyond the scope.3. How to determine the company's registered capital?Most of the company's registered capital is the subscription system, which needs to be determined according to the specific industry category that the company is engaged in. It is not the more the registered capital, the better.4. How many times does the shareholder need to register with the free trade zone?According to the specific situation, in general, shareholders must be present at least once. The specific time is at the time of the industry and commerce interview. Generally, the legal person must be present at least twice.5. What should you pay attention to after the company registration is completed?After the company registration is completed, in addition to the normal legal operation, it is necessary to carry out monthly normal tax declaration and annual annual report publicity. In addition, you must also pay attention to the expiration time of relevant documents, and must apply for extension in time.

Premier Li attended“Singapore Lecture”

On the morning of November 13, Premier Li Keqiang delivered a keynote speech at the“Singapore Lecture” and answered questions on the spot. This is one of the highest-level academic seminars in Singapore. The audience is more than 500 Singaporean political, business and academic celebrities.“China is Singapore's  largest trading partner and Singapore is China's largest source of new foreign investment. China welcomes Singapore's more enterprises to invest China.” Premier Li Keqiang said here and repeated it in English: “more and more Investment." Li Keqiang said that China will continue to expand its opening up, not only in the service industry, which is advantageous in Singapore, but also in the basic industry. At present, large European and American companies have established large-scale petrochemical enterprises in China, and hope that Singapore and other ASEAN countries will seize this great business opportunities.Li Keqiang pointed out that China will promote reform and opening up with greater efforts, more practical measures, and faster pace, promote high-quality development, maintain the continuity of macroeconomic policies, continue to simplify administration and reduce taxes and fee, and create an equal and fair business environment for domestic and foreign-funded enterprises. Enterprises from all countries, including Singapore, are welcome to expand investment in China, strengthen economic and trade cooperation, and achieve mutual benefit and win-win.

Country's tax climate to improve with more reductions expected

China's efforts to further reduce taxes, for businesses and individuals, will continually improve the country's tax environment if the significant progress made since 2017 is any indication, according to a World Bank Group report published.China's tax climate has improved remarkably, particularly regarding the time needed to comply and the number of tax payments required, mainly because of technology-based enhancement of tax collection services, according to the report entitled "Paying Taxes 2019".Experts expect more tax-and fee-reduction policies to come out soon, such as the reduction of social security fees for firms.These could continually enhance China's position in global tax environment rankings, based on World Bank research methodology.China's overall tax environment assessment global ranking improved to 114 in 2017 from 130 in 2016, with 190 economies covered in the report."The Chinese tax authority could reduce social security fees", which will significantly reduce the country's total tax and contribution rate, said Matthew Mui, a tax specialist at accounting firm PwC China, on Tuesday. PwC is one of the contributors to the World Bank report, involved in data collection.The report showed that social security fees paid by Chinese employers comprised the largest contributor to the total tax rate－a measure of the corporate tax burden as a share of commercial profit.This rate for China was 64.9 percent in 2017 in the World Bank's calculations, down from 67.3 percent in 2016 and 68.2 percent in 2015.But it was still higher than the average global level of 40.4 percent.Xu Zhong, director of China's central bank research bureau, said at a forum on Tuesday that there is room for cutting China's social security fees for firms.Xu said the country should also cut personal income tax rates and raise the collection threshold, both being part of its pro-active fiscal policy.The State Administration of Taxation confirmed that it is studying a proposal to cut social security fees to ensure an "actual" decrease of enterprises' burdens. Starting from 2019, tax authorities will take over the collection of social security contributions and gradually incorporate the collection of nontax fees."We expect that the next step will be upgrading legislation for the stamp duty, urban maintenance and construction tax," said Mui.Joanna Nasr, private sector development specialist at the World Bank's Global Indicators Group, said China's tax reforms since 2017 have made tax payments easier, especially by reducing labor taxes and mandatory contributions, and the merging or elimination of tax categories. China moved up the rankings, mainly due to expanded use of electronic tax systems, she added.In 2017, the time taken to prepare, file and pay the three major taxes (value-added tax, corporate income tax and labor tax) in China dropped to 142 hours, down 31.4 percent compared with 2016. The number of payments has also been reduced to seven from nine, showing the continued enhancement of taxpayer services, according to the World Bank report.Source: China Daily

ABB's world-leading innovation and manufacturing base is operational in Xiamen

Headquartered in Zurich, ABB (Asea Brown Boveri Ltd.) is a global technology leading enterprise in power grids, electrical products, industrial automation and robotics and motion control. ABB Group has operations in more than 100 countries and regions and employs 147,000 people. ABB has a full range of business activities in R&D, manufacturing, sales and engineering services in China. Recently, ABB announced that the ABB Xiamen Manufacturing Center has officially opened in Xiamen. Dr. Shi Bifu, CEO of ABB Group, said: “ABB Xiamen Manufacturing Center is one of ABB's largest and most advanced manufacturing bases in the world. We have fully demonstrated the unlimited potential of Industry 4.0 through ABB's own factory. By integrating local business activities, we will better support the development of high-end industries in Xiamen and surrounding areas, and continue to contribute to China's reform and opening up."ABB Xiamen Manufacturing Center is one of ABB's investment projects in China recently. Last month, ABB announced that it will invest 150 million US dollars to build its world's largest and most advanced robotic super factory in Shanghai Kangqiao. In May this year, ABB's Robot Application Center in Chongqing officially opened, which the  fourth Robot Application Center was established by ABB in China. Last December, ABB Shenzhen New Energy Technology Center was officially launched, focusing on the research and development of solar and electric vehicle charging solutions, and serving the global market. Since 1992, ABB's cumulative investment in China has reached $2.4 billion.

China ready to introduce negative list for market access nationwide

China has finished revising its negative list for market access for nationwide roll-out, the National Development and Reform Commission (NDRC) said.The new version will enter effect after later approval by the Communist Party of China Central Committee and the State Council, NDRC spokesperson Meng Wei told a news conference.China has decided to make the "negative list" approach, which will open all sectors except a proscribed few to investors before the end of this year to streamline government administration and give more freedom to the market.The NDRC and the Ministry of Commerce will work to facilitate the application of the scheme for market entities and improve its transparency, Meng said.They will also further amend the list to adapt it to China's reform progress, economic restructuring, and legal changes, Meng added.China started related reforms in 2015 and has piloted the scheme in regions including Tianjin, Shanghai, Fujian, and Guangdong.Source: China Daily