On 24 October 2024, the Shenzhen Municipal Committee’s Office of the Financial Committee promulgated the Action Plan for Promoting High-Quality Development of Venture Capital Investment in Shenzhen (“Action Plan”). The document was released as a consultation draft, inviting public input. The deadline for feedback submission was 31 October 2024.
On November 1, 2024, China enacted the “Special Administrative Measures (Negative List) for Foreign Investment Access (2024 Edition),” repealing the previous list published at the end of 2021. Compared with the 2021 edition, the 2024 national Negative List for Foreign Investment Access has removed the last two remaining restrictions in the manufacturing sector. The number of restricted items on the national Negative List has been reduced from 31 to 29.
China has recently updated its regulatory framework with the State Council’s Provisions on the Implementation of the Registered Capital Management System under the Company Law (Decree No. 784), which took effect on July 1, 2024. These provisions are designed to enhance transparency, regulate shareholder commitments, ensure the safety of market transactions, and improve the overall business environment.
On 27 December 2023, Hong Kong implemented the third phase of the New Inspection Regime under the Companies Ordinance (Cap.
On 13 October 2023, the Inland Revenue (Amendment) (Taxation on Foreign-sourced Disposal Gains) Bill 2023 was gazetted to further refine
On 20 October 2023, the Inland Revenue (Amendment) (Disposal Gain by Holder of Qualifying Equity Interests) Bill 2023 (“Bill”) was
On 9 June 2022, Hong Kong’s Legislative Council passed the Employment and Retirement Schemes Legislation (Offsetting Arrangement) (Amendment) Bill (“the
Our China Guides comprise a series of informative articles that provide insights on efficiently handling the compliance responsibilities and administrative formalities associated with establishing and scaling up your business in Mainland China.
Dong Business in Hong Kong
Are you looking to setting up a company in Hong Kong? Checkout our a series of comprehensive guides on how to set up and operate a business in Hong Kong.
The Greater Bay Area (GBA) of China presents vast opportunities for businesses seeking to expand their operations in the region. The GBA comprises nine cities in Guangdong Province, Hong Kong, and Macau, with a combined population of over 70 million and a GDP of approximately USD 1.6 trillion. It is a critical part of China’s economic development strategy, aimed at creating a world-class metropolis and driving economic growth in the region.
We have a series of informative articles that delve into the various business opportunities available in the GBA. These articles cover a wide range of industries, including finance, technology, logistics, and tourism, among others. We provide insights on the GBA’s market potential, investment incentives, regulatory environment, and emerging trends that businesses can capitalize on.
Between December 2023 and March 2024, the HKSAR Government conducted a consultation on the Global Anti-Base Erosion (“GloBE”) Rules and the Hong Kong Minimum Top-up Tax (“HKMTT”). Upon the conclusion of the consultation, Hong Kong’s Financial Services and the Treasury Bureau, in collaboration with the Inland Revenue Department, has recently published a Legislative Council (“LegCo”) Paper. The document recapitulates the input gathered from various stakeholders and presents the government’s feedback based on the findings.
Market Entry, Industry Updates and More...
On 16 October 2024, the HKSAR Government unveiled the highly anticipated 2024 Policy Address themed around continuous development and renewal. Accordingly, the Policy Address is titled “Reform for Enhancing Development and Building Our Future Together”.
A broad array of initiatives are presented in the Policy Address to solidify Hong Kong’s status as a leading international financial and innovation centre. New growth areas will be explored and tapped into in order to facilitate comprehensive economic and social development.
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