Navigating China’s Evolving Approach to Human Genetic Resources: Insights on Regulatory Changes

Industries

China has transferred the management of human genetic resources to the National Health Commission, aiming to streamline regulations and foster biotech innovation by balancing oversight and reducing bureaucratic burdens. This shift is expected to enhance international collaboration, attract foreign investment, and expedite drug development in China.

Industries

China’s New Measures to Support Foreign Investment in Sci-tech Firms

China seeks to attract sci-tech foreign investment by relaxing rules, fostering partnerships, and enhancing the investment climate.

Industries

China’s Medical Beauty Industry: Challenges, Trends, and Opportunities

China's medical beauty market has emerged as a standout sector amid global economic challenges, exhibiting remarkable growth and resilience. Fueled by capital influx and a well-defined industrial chain, the industry has become a focal point for consumption growth within the broader beauty and healthcare sectors, offering an array of opportunities for foreign businesses and investors.

Economy & Trade

China Fully Allows Visa-Free Entry for Foreign Tourist Groups on Cruise Ships

Starting May 15, 2024, foreign tourist groups traveling by cruise ships and organized by Chinese domestic travel agencies can enter China visa-free from ports in 13 cities and stay in eligible areas for 15 days.

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Economy & Trade

Economy & Trade

Highlights from China FM Wang Yi’s Visit to New Zealand and Australia (Updated)

May 30

China FM Wang Yi's visit to New Zealand and Australia underscores efforts to strengthen economic ties and address differences.

 

Tax & Accounting

Tax & Accounting

China Monthly Tax Brief: May 2024

Jun 03

Highlights from this monthly China tax brief include the new beneficiary owner reporting rules to be effective from November 1, 2024, the expanded tax incentives in the Qianhai Cooperation Zone, and the advance tax ruling measures implemented in Beijing and Maoning City.

  • Tax Implications for Businesses Under China's New Company Law

    Tax & Accounting May 31

    Under the New Company Law, companies and stakeholders face new tax implications. Ahead of its implementation, thorough understanding, staying informed, and consulting legal and tax experts are essential for proactive risk management.

  • Greater Bay Area (GBA) IIT Subsidy Kicked Off in Shenzhen 2024

    Tax & Accounting May 27

    The GBA IIT subsidy for foreign talents has officially kickstarted in Shenzhen. The city will accept relevant applications from May 15, 2024, to June 15, 2024.

  • An Introduction to Doing Business in Hong Kong 2024

    Tax & Accounting May 20

    This publication, updated in April 2024, is designed to introduce the fundamentals of doing business in Hong Kong. This guide covers corporate establishment, tax and audit, HR and payroll, and cybersecurity and data protection.

  • Filing Individual Tax Returns in Hong Kong: A Complete Guide

    Tax & Accounting May 14

    Hong Kong's Inland Revenue Department has issued the Individual Tax Return for the year of assessment 2023/24. Individual taxpayers are advised to start preparations early and allocate sufficient resources to meet the deadline.

 

Legal & Regulatory

Legal & Regulatory

China’s Enhanced Beneficiary Owner Filing System: Key Points of New Measures

Jun 05

China’s new beneficiary owner filing measures require business entities, except individually owned businesses, to submit their beneficiary owner information starting November 1, 2024, with a one-year grace period available for entities registered before that date.

Industries

Industries

Navigating China’s Evolving Approach to Human Genetic Resources: Insights on Regulatory Changes

Jun 04

China has transferred the management of human genetic resources to the National Health Commission, aiming to streamline regulations and foster biotech innovation by balancing oversight and reducing bureaucratic burdens. This shift is expected to enhance international collaboration, attract foreign investment, and expedite drug development in China.

 

HR & Payroll

HR & Payroll

Greater Bay Area (GBA) IIT Subsidy Kicked Off in Shenzhen 2024

May 27

The GBA IIT subsidy for foreign talents has officially kickstarted in Shenzhen. The city will accept relevant applications from May 15, 2024, to June 15, 2024.

  • An Introduction to Doing Business in Hong Kong 2024

    HR & Payroll May 20

    This publication, updated in April 2024, is designed to introduce the fundamentals of doing business in Hong Kong. This guide covers corporate establishment, tax and audit, HR and payroll, and cybersecurity and data protection.

  • China Trade Union Funds Explained

    HR & Payroll May 16

    We introduce China trade union funds system, examining sources, regulations, and payment methods. Additionally, we explore the current state of trade unions in China, with specific considerations for foreign-owned enterprises.

  • China Fully Allows Visa-Free Entry for Foreign Tourist Groups on Cruise Ships

    HR & Payroll May 15

    Starting May 15, 2024, foreign tourist groups traveling by cruise ships and organized by Chinese domestic travel agencies can enter China visa-free from ports in 13 cities and stay in eligible areas for 15 days.

  • China's Visa-Free Policies: Latest Updates

    HR & Payroll May 15

    With borders open again, we look at all of the China visa-free policies that are currently in place and clarify who is eligible to benefit from them.

 

Technology

Technology

China Releases New Draft Regulations on Generative AI

May 30

China is striving to regulate generative AI while promoting innovation and technological advancement. The NISSTC has issued draft regulations outlining security measures for generative AI service providers, underscoring China's commitment to responsible AI development.

 

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Dezan Shira & Associates is a pan-Asia, multi-disciplinary professional services firm, providing market entry, legal, accounting, tax, HR, technology and operational advisory to international investors.

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Asia Briefing publishes articles, magazines, and guides on doing business in Asia. Dezan Shira & Associates has produced the publication since 1999.

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