China is one of the most visited countries in the world. Tourists enjoy its rich culture, beautiful landscapes and are attracted and intrigued by the different cultural customs. While visitors have long preferred the eastern and southern provinces, western China is becoming more popular. Travel companies in China gamble on the region’s mystery and the historic ancient trade routes to attract more visitors to the country.
China’s mining industry will receive important funding from the Silk Road Fund in an attempt to revitalize this industry and make it an important sector for investments. The Fund’s leaders have recently decide that they can participate to the mining industry in an effective way. Companies in the mining field will be given an opportunity for consolidation and eventual mergers and acquisitions.
China plans to abolish price controls on almost all goods and services in certain key sectors. This will be done progressively by 2017 and for this purpose the State Council has released a guideline and also a timetable. The reform on the pricing mechanism will be favorable for private foreign investments in China.
Mainland China and Taiwan have signed a double tax treaty. China and Taiwan didn’t sign this treaty before because of historical reasons. This has been a cause for a hindered economic development and trading activities between the two countries. However, foreign investors in China coming from Taiwan can benefit from this treaty. The experts at our law firm in China can help you with detailed information so that you can take advantage of all the features of this treaty.
Chinese officials have agreed upon an easier application procedure for foreigners who want to obtain permanent residence permits. This was agreed upon in order to attract more talented workforce from other countries. China is already working on a very open foreign investment policy, as the President stated during his recent travel to the United States. Foreign investments are a valuable part of the economy and a more transparent and straightforward legislation is likely to rise the interest in what the country has to offer to entrepreneurs.
China and Georgia have recently signed a framework deal that covers the problem of currency swap. This agreement will not only strengthen the relations between the two countries but it will also help facilitate foreign investment in China coming from Georgia and vice versa. Our Chinese lawyers specialized in foreign investments can help you if you are a Georgian entrepreneur in China.