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China Extends Tax Incentives for Import Goods Sold at Canton Fair for 2024-2025

In an effort to enhance the China Import and Export Fair, commonly known as the Canton Fair, a notice titled “Notice on the Continuation of Tax Incentives for Imported Goods Sold During the Exhibition Period” has been issued. It extends the tax incentives for 2024 to 2025, maintaining the same benefits as in 2023. These incentives exempt eligible imported goods from import tariffs, value-added tax, and consumption tax during the fair. This initiative aims to bolster trade, ensure compliance with regulations, and foster international business relationships by supporting a favorable trading environment at the Canton Fair.

Latest Insights

Major Revisions to China’s Company Law: Key Amendments You Should Know

Following its review of multiple draft amendment versions over the past three years, the Standing Committee of the National People’s Congress of China finally enacted the revised Company Law on 29 December 2023. It is set to take effect on 1 July 2024. Coincidentally, the amendment was passed on the 30th anniversary of the initial enactment of the Company Law, which was on 29 December 1993. This article provides a detailed exploration of the key changes brought about by the latest revision to China’s Company Law. Additionally, it examines the potential implications for businesses operating in China.

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China Economic Outlook 2024

While spectators worldwide had pinned high hopes on China achieving a swift and sharp rebound in economic activity, the wheel of fortune turned more sluggishly than expected after its post-Covid reopening. A cocktail of pressing challenges, including subdued consumption and a slump in the property market, continue to cloud China’s recovery outlook. Despite a somewhat bumpy ride last year, the world’s second-largest economy managed to hit its growth target of 5%, expanding by 5.2% year-on-year to RMB 91.3 trillion.

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Regulatory Updates

Dong Business in China

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.

Expanding your business into

Greater Bay Area

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.

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Finance and Taxation

China Extends Tax Incentives for Import Goods Sold at Canton Fair for 2024-2025

In an effort to enhance the China Import and Export Fair, commonly known as the Canton Fair, a notice titled “Notice on the Continuation of Tax Incentives for Imported Goods Sold During the Exhibition Period” has been issued. It extends the tax incentives for 2024 to 2025, maintaining the same benefits as in 2023. These incentives exempt eligible imported goods from import tariffs, value-added tax, and consumption tax during the fair. This initiative aims to bolster trade, ensure compliance with regulations, and foster international business relationships by supporting a favorable trading environment at the Canton Fair.

Market Entry, Industry Updates and More...

Aerial view At container terminal,crane lifts container from ship to truck to deliver goods

Guangdong’s Maritime Economy: Leading in the Nation for 29 Consecutive Years

The “Guangdong Maritime Economy Development Report (2024)” highlights that Guangdong has held the top spot in China’s maritime economy for 29 years. In 2023, its maritime GDP was 1.87781 trillion RMB, comprising 13.8% of the regional GDP. The maritime industry, including emerging sectors like marine pharmaceuticals and renewable energy, contributed significantly to regional growth. Technological advancements and international cooperation, particularly in the Guangdong-Hong Kong-Macao Greater Bay Area, have bolstered its maritime sector’s robust performance.

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