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moto guzzi breva 750 ie parts manual catalog 2003NBS statistician Liu Jianwei said that housing prices stayed generally stable in major cities as differentiated control policies continued to take effect. In first-tier cities where the curbs are strictest, home prices continued to soften, with new residential housing and second-hand home prices down 0.1 percent and 0.2 percent, respectively, from a month earlier. In contrast, the property market in second- and third-tier cities is showing signs of picking up, with new residential housing prices gaining 0.5 percent and 0.4 percent, respectively, from October. The data provides evidence that government cooling measures to prevent asset bubbles in the property market are producing the desired outcomes. Since late last year, dozens of local governments have passed or expanded restrictions on house purchases and increased the minimum downpayment required for mortgages. The property market was also cooled by relatively tightened liquidity conditions as the government moved to contain leverage and risk in the financial system.ChinaNews App Download. You can find how we use these by clicking “More info” or click “Accept” to agree International Financial Reporting Standards: What Are the Main Differences?They’ve always been reliable, prompt and competent. Learn aboutUnleash their potential. Reinvent your business. Flip the odds. Press enter to select and open the results on a new page. At other times, it has kept the door firmly closed. While some global leaders, such as automotive original-equipment manufacturers, have turned China into their single largest source of profits, others, especially in the service sectors, have been challenged to capture a meaningful share of revenue or profits. It also lays out what I believe it takes to build a successful, large-scale, and profitable business in China today as a foreign company. Whether or not the current growth of the Chinese economy is sustainable depends on the evolution of several trends.http://activeauditors.com/userfiles/how-to-focus-a-slr-manual-camera.xml

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As the ministimulus delivered in the second quarter of 2014 demonstrates, the government still possesses levers to push GDP growth rates up and down quite rapidly. In other ongoing government initiatives, the “marketization” of prices for electricity, water, land, and capital is having a major impact on the behavior of business, leading to a new focus on productivity, even within state-owned enterprises. At the city level, much more momentum is building, with local governments selling out of noncore activities such as hotels and many manufacturing businesses. The anticorruption campaign continues aggressively throughout state-owned enterprises, and government has itself become a material brake on growth. Officials and executives are simply unwilling to make decisions that could possibly be held against them later. President Xi has pursued anticorruption as a theme for more than a decade; he is not going to back off. Only if they remain confident in their personal economic future will they continue to increase their spending and become a larger driver of economic growth.Rural migrants already in the cities need to be better integrated. Investment to deliver this will be massive, indicating how the construction of China’s infrastructure is not yet complete. Margins of industrial state-owned enterprises have fallen by a third over the past four years. Often the industries they compete in, from steel production to telecom-network equipment, are simply growing much more slowly. By the standards of China over the past 30 years, state-owned enterprises have become mature industries. This leads to three outcomes: initiatives on productivity, diversification, and globalization. The latter two are more often conducted on the basis that prior success in one industry in China will automatically lead to success in the next industry and country. Multinationals selling to government, at the other end of the spectrum, find market access much more challenging.http://drpbanerjitelemedicine.com/userfiles/car-manual-daewoo-matiz.xml The pace at which Chinese consumers are embracing the Internet is at the cusp of causing major disruptions to many sectors in China. Perhaps because consumers are still new to our traditional ways of shopping or banking (only having had modern shopping malls for a decade in many cities), consumers are very willing to switch to buying online. When the experience of going into a Chinese bank branch is so poor, it’s not surprising that consumers would rather transact online. Mall owners are struggling to find a new economic model. Retailers are trying to bring order to their nationwide distribution chains to exert control over the price at which their products are sold online. The impact on employment is just starting to appear, but many millions of sought-after white-collar jobs will be eliminated in the next few years. Perhaps most critically, Chinese consumers remain relatively unsophisticated. A loss of confidence as a result of a default in a wealth-management product, or a decline in housing prices in a specific city, could easily become a nationwide contagion creating a vicious cycle of consumers who withdraw from spending, thereby worsening market conditions. One has to be over 40 to remember a recession in China. A final and rising risk is the underemployment of graduates. Of the seven million graduates each year, maybe only three million find jobs that require a degree. The remainder discovers that their aspiration of joining the middle class and owning a home and a car is possibly out of reach permanently. They are a large, dissatisfied, and growing segment of society. For example, energy and agriculture will have segments with very rapid growth. Below is a very brief snapshot of where we see opportunities. Increasingly, this is conducted through mobile devices. The payments system is in place, logistics are improving, and online providers are trusted. Many retailers will adapt, often with far fewer physical locations.https://directori.p2pvalue.eu/explore/cbpp-communities/community/datasheet/ficht-johnson-evinrude-diagnostic-tool-repair-manual Malls will have to become destinations for services beyond retail. Alibaba alone is committed to spending billions of dollars on its own logistics. Third-party carriers such as SF Express are rapidly becoming regional leaders on the back of growth in China. Even in agriculture, massive investment is under way in cold storage and cold carriage to reduce waste and provide higher-quality food products to China’s middle class. Private universities are expanding. Traditional and online vocational learning schools are publicly listed multibillion-dollar businesses. Niche businesses, such as preparing children to apply to US, UK, and Australian high schools and universities, are also flourishing. The amount the Chinese are willing to spend on tutoring and support for their children is almost unlimited. As the middle class becomes wealthier, the increased ability to spend will drive market growth. The shortcomings of the mainstream public healthcare system in China are not likely to be overcome quickly. Patients are looking for solutions where both cost and quality are more certain, and private and foreign companies are being encouraged to deliver. There is a related boom in supplying equipment to these new facilities. Four million mainland Chinese visited South Korea in 2013; four million visited Thailand. China’s middle class expects to take three to four weeks of vacation each year and no longer accepts visiting the overcrowded, overexploited traditional domestic destinations. Disneyland’s opening in Shanghai in 2015 could trigger a new wave of investment to create higher-caliber resorts. The more than one million high-net-worth individuals in China remain generally unsophisticated as investors, seeking advice on how to broaden their investment portfolio both onshore and offshore. Historically regarded as simply a support role for the business, CIOs were pushed three to four levels down in the organization and attracted little talent (which instead went to Internet start-ups). A typical Chinese company spends only 2 percent of revenue on IT versus international benchmarks of around 4 percent. As these companies struggle to bring technology into the core of their operations, they need massive amounts of help to do so. The cost of good IT talent is already soaring. Most Chinese companies will be unable to solve their technology challenges for themselves. Increasingly, it is consuming this output domestically. For example, 11 gigawatts was installed in large-scale solar farms in 2013, and this will grow an additional 30 percent in 2014. China is also investing heavily to exploit its shale-gas assets and develop cleaner coal technologies. Continual food-safety crises illustrate the challenge. For many successful technology investors, such as Legend Holdings, agriculture is the new Internet. Chinese companies are investing in agriculture outside of China at scale, from Chile to the Ukraine, for China. They also invest in China, especially in value-added products—such as fruit and the production of frozen ready meals. One’s own management team, the team’s relationship with corporate headquarters, the role of and relationship with joint-venture partners—all play a key role. Joint ventures have been part of doing business in China for more than 30 years. In many sectors, they remain the only way to participate, often in a mandatory minority position. But there are a number of clear lessons: From automotive to financial services, the lesson is that it won’t change. If that model is not attractive today, do not invest in the hope that it will change. Using the words from government statements in your own statements communicates your commitment to China. This can lead to a very different presence in China. China doesn’t need the capital, it can hire the skills, and it has the customer relationships, insights, and, most critically, the government relationships. Even state-owned enterprises now hold this mind-set. What one can do today is make a long-term commitment to help a Chinese joint-venture partner expand internationally. This may well be at a cost to the international partner’s existing business and needs to be seen as part of the total China investment. Chinese partners like the certainty this provides. Ensure that the committed executive shows up for board meetings and the like, and don’t delegate. Usually, this person will be very strong in people development, with skills almost overlapping with a head of HR. And he or she will need to be 100 percent trusted to enforce compliance and to role model required behaviors. Typically, make this person chairman of your Asia or China operations, as senior a title as possible. Loyalty to an employer is often low on an individual’s priority list. Turnover will likely be high and should be planned for. Both Chinese and global search firms have rapidly growing businesses that serve local and international companies. It is imperative to complete thorough background checks. Getting people to leave quietly in China often involves being silent on the cause of separation. However, many lack workplace-relevant skills, including even those with MBA qualifications, which are more often bought than earned and often come with a lack of self-awareness that can lead to a mentality of entitlement. As a result, many corporations hire and then weed out aggressively during the initial probation period. Once on board, retention of high performers often depends on a highly variable compensation structure and dismissing underperformers. Outside of some companies in financial services, few international firms do. Some companies in the technology sector have been very successful, even while not bringing core IP into China. Secondly, consider if the cost of loss of IP could be contained solely in China. Again, in technology, multinationals have aggressively and successfully sued Chinese companies outside China that have taken IP from multinationals in China and used it outside China. China is evolving fast on IP protection, with more and more Chinese companies suing other Chinese companies. It is becoming increasingly likely that a Chinese partner will recognize the value of IP and be willing to protect IP developed jointly with them. A practical means of making it harder for global IP to leak into China is to establish a stand-alone IT architecture for China that has no access to servers at headquarters. Taking a through-cycle viewpoint rather than a “quarterly performance versus plan” mind-set is key to motivating your China team and to convincing them that you are committed to China for the long term. Indeed, downturns in China have proved to be attractive moments to double down. When partners or governments are under stress, new partnerships and licenses can become available to foreign partners that are willing to step up and invest. Even after 30 years, few multinationals adopt this mind-set. If you can’t do business the way you want to, then don’t do it at all. There may be opportunities to make money in the short and medium term, but shortcuts will eventually be made transparent. The Chinese government will be well aware of how you are operating, and the anticorruption campaign is not going to go away. Don’t assume that because your suppliers are international companies that they are automatically operating to the global standards you expect; verify that they are. This is an edited version of an article originally published on LinkedIn, where he posts regularly. For more of Gordon’s articles on China and doing business in Asia, visit his LinkedIn page. We'll email you when new articles are published on this topic. Please try again later. Step Nine: Turn In Any Remaining Paperwork 11. Conclusion In light of this, it is no surprise that China is now the number one world destination for foreign direct investment, according to recent UN figures. And within China itself, GDP growth is set to surge relative to other world locations (see figure 1 below). But foreign businesses need to do their research before spending money — or signing the lease on office space. Starting a business in China is different than it is in, say, the United States. You’ll find that the government has more involvement in the business world, and there may be a little more paperwork. Even though you may have to jump through a few more hoops, you’ll find that China is one of the most fast-paced and rewarding business environments in the world. Read on to discover the 9 steps to starting a business in China as a foreigner, from picking a location, to hiring your first employees. This is updated every three years in accordance with China’s prevailing political and economic goals. To comply with the provisions of the Catalogue is crucial. It currently includes 35 industries, eg exploration and exploitation of graphite, airport and power grid construction and operation, general aviation companies, railway passenger transportation, banks, securities, and insurance companies. A complete list of all the industries that fall under each category can be found in the latest version of the Catalogue. Starting 3 October 2016, some of these industries have been included under the Negative List. To be allowed to do business in industries under the negative list, the investor must first acquire the approval of the Ministry of Commerce. Step One: Pick a Business Location Before starting a business in China, you’ll have to decide where you want your business to be located. China is a large, growing country, and new business hubs are still emerging. However, you may want to focus on cities that are already bustling business centers, like Shanghai, Beijing and Guangzhou (formerly Canton). Shanghai is a popular choice because of its special perks. The government actually encourages foreign business and innovation. For example, Shanghai’s 120 square kilometer Free Trade Zone (FTZ) allows many foreign businesses to operate without paying as many taxes as usual. Fewer industries are restricted from foreign investment. The government relaxes some administrative controls that are present in other cities. Office rental is easier and is of higher quality than it might be in less established cities. While Shanghai might be a good location for most foreign enterprises, your ultimate decision depends on your specific business needs. Before making your final decision, consider key factors like: Talent pools Proximity to business partners Logistical needs (ports, etc.) Local government regulations Don’t discount local culture, either. When you’re starting a business in China, a welcoming environment, like that in Shanghai, can mean the difference between a successful venture and a flop. China Free Trade Zones Step Two: Consider a Global Expansion Partner Before choosing a legal structure for your new business in China, it is worth considering alternatives, even temporary ones. Because of strict Chinese government policies, starting a business in China as a foreigner can consume a lot of time and money. If you choose to incorporate your business with an official legal structure, the process could take months. A China PEO or China Employer of Record (these terms are generally equivalent) is a global expansion partner which helps foreign companies without local entities or interests directly hire local Chinese talent. The China PEO becomes responsible for all employee tax obligations and possible penalties in China. Chinese employees will know the local market better. They may even be able to provide insights that improve your products or services. Chinese staff are absolutely critical for navigating the cultural differences that you might not expect. However, talented Chinese employees are always in demand, especially in the current job market. It can be hard to secure the best talent since they’re constantly approached by businesses with enticing job offers. For foreigners starting a business in China, it often makes more sense to use a recruitment agency in China to identify and secure top local talent. A local staffing team can: Create search strategies and job descriptions Find the best local professionals Interview candidates for a short-list Recommend hiring decisions Handle all administrative and legal duties that come with the hiring process Provide employee retention consulting Manage employee payroll and other benefits Having local staff from the start can be a game-changer for your brand—and using a local staffing agency is the best way to secure a top-notch Chinese staff for your business quickly. Step Four: Choose a Legal Structure If you decide to forgo operating with a PEO alone, and decide to incorporate your business, choosing a legal structure is the next step. There are a lot of different business structures to choose from when you’re starting a business in China, and we consider the most popular varieties below. Once you’ve decided on a legal structure, you’ll face a few more considerations, like deciding on minimum registered capital. A company is considered an FIE if 25 to 100 of it is controlled by foreign investors. As the name suggests, WFOEs are 100 foreign-owned. WFOEs come in different types, the most popular of which are Limited Liability Companies (LLCs). The attractiveness of forming a WFOE in China lies in the different rights that come with it. Fundamentally, foreigners who own WFOEs in the country share nearly identical rights as any Chinese business owner. Moreover, with an LLC, owners are not held personally liable and partners are just responsible for their own investment. WFOEs may also operate as a retail store or a trading company by virtue of China’s membership with the World Trade Organization (WTO). However, just as there are advantages, there are also disadvantages to WFOEs that any entrepreneur should reflect on. Firstly, the process involved in the filing, registration and eventual approval of WFOEs is complex and necessitates collaboration with the following Chinese governmental bodies: Various local authorities; State Administration for Industry and Commerce (SAIC); National Development and Reform Commission (NDRC); and, Ministry of Commerce (MOC). The process and procedures for registration and approval could take a couple of months to complete. Moreover, there will be a required minimum capital but only for companies operating in regulated sectors. Otherwise, there is no registered capital maximum limit on WFOEs. Finally, WFOEs are required to submit to an annual reporting of their financial books to concerned government agencies. The previous practice was a yearly inspection of government agencies of the financial books of companies. With the revision of the PRC Company Law in 2014, the reporting system superseded the inspection system. WFOEs can engage in profit-making activities across China, and hire both local and foreign employees. We consider these options in greater detail below. Related: Company Registration in China Joint Venture (JV) The second most popular business entity used by foreign investors in China is the joint venture. Given that foreigners have Chinese partners in JVs, the there are fewer restrictions, and certain industries which are not open to foreigners may become a viable option. Moreover, given that a local partner also owns the business, they can serve as a huge help in forming and running the business. They will know the best approach to challenges and serve as a medium for such issues as language barriers. However, just as there are benefits, the risks involved in JVs need to be considered carefully. With a Chinese partner who also has control in the business, there is also the possibility of differences that could adversely affect the business or the partner pushing the foreign investor out. While there are intellectual property (IP) laws in the country, there is still the risk of loss of the brand, or exposure or copying of trade secrets by the Chinese counterpart. Experiences of successful JVs in China show that success can be attributed to the constant monitoring of what happens in the JV. Relying on the Chinese partner to run the company alone simply will not work. Representative Office A Representative Office (RO), also called a Liaison Office, serves as a separate legal entity which represents an existing foreign company in China, referred to as Hongda. Compared to WFOEs and JVs, ROs are easier to open and less costly. However, given the operational limitations imposed on ROs, this may not be a viable option depending on the purpose of the business entity. ROs are prohibited from performing such operations as: Import and export; Accepting payments; Issuing Fapiao (legal receipt or official invoice in China that serves as proof of purchase for goods and services); Executing contracts; Doing business or trading with other companies; Manufacturing of products. Figure 2 summarizes the pros and cons of ROs. The Pros and Cons of a Representative Office in China ROs are only allowed to conduct research and marketing activities, thus they are commonly not recommended. The following are the activities ROs can do, which are beneficial to the foreign counterpart: Research and study the market; Promote the foreign company; Engage in such activities which will not generate profit; Serve as the foreign company’s marketing arm in China; Serve as customer support; Develop advertisements; Gather information useful to the company; Rent residential and commercial properties; and, Create a network of contacts. Despite its inability to generate profit or collect payments, ROs could be subjected to taxation depending on certain factors, eg location, business plan, etc. Moreover, it has a short lifespan given its limited range of operation, normally about two years. Note also, a rented office space must be established prior to starting the RO. Since one of the advantages of creating an RO is China is to study the market, however, a disadvantage will arise when it comes time to change the RO into a WFOE. To be able to turn the entity into one that can operate more extensive business, the RO must first be shut down. Only then will the foreign company be able to start the entire process of registering the WFOE. The entire process can be completed between 6 to 18 months. Sales Office or Labor Dispatch The formation of a sales office (SO) through labor dispatch in China is the easiest and less costly means of doing business in the country, particularly if there is a lack of a legal business entity. Through Order No. 22 of the Ministry of Human Resources and Social Security (MOHRSS) of China, which was enforced 1 March 2014, the use of dispatch labor became easier and more achievable. The SO via dispatch labor business model involves the outsourcing of the administrative and legal management of the representative office of the foreign company to a PEO located in China. As discussed above, a Professional Employment Organization (PEO) can be likened to a ready-made HR department that a foreign company effectively rents or hires to allow for the swift expansion of business in an overseas country, in this case, China. It negates the delays, costs, and intricacies involved in forming a business structure, eg WFOE, RO or JV. The foreign company may simply concentrate on how to market and strategize the business, with the administration portion left to the PEO. No direct relationship between the main company and the employees at the PEO exists. Therefore distractions and issues on the approval to operate are likewise negated. There is a saying that “locals know best.” This can very well apply to the use of PEOs in China. The process will be greatly eased by the hiring of a PEO that will serve as the foreign company’s local counterpart. It can even help in the immigration process required, as may be needed by the foreign company. The PEO will be in charge of hiring the foreign company’s employees in China. It, therefore, becomes the “employer of record” for tax issues, mandatory benefits, and insurance. This type of service is referred to as co-employment or joint employment. PEOs will not just make the launch of the business easier but more importantly, it minimizes the legal risks and delays that come with hiring employees. This is because the foreign enterprise need not have a direct employment relationship with the local employees but instead contracts the PEO. The latter, in turn, deals directly with the employees and makes use of the management fees paid to them by the client foreign company to pay the salaries of the employees. The employees will do the work required by the foreign company in China. While there are several benefits as to the use of SOs through labor dispatch in China, there are also disadvantages. Firstly, SOs come with limitations. Finally, the funds of the company which is in China will be administered by the administrative partner of the dispatched employee. This means that all benefits and funds will be sent directly to China. Making the Choice It is important for foreign businesses in deciding the legal structure for their China expansion to carefully consider the pros and cons of each structure. What should be considered first and foremost are the needs and objectives of the company. Those that prefer to penetrate the Chinese market in a quick and cost-effective means may greatly benefit from a Sales Office via labor dispatch. A PEO in China can provide insurmountable advantages. One good thing about it is that they now proliferate and are readily available. However, evaluating PEO’s remotely can prove difficult since they are not created equal. As such, finding a trustworthy and capable partner PEO is critical. Additional read: 7 Important Things to Consider Before Launching Your Business in China Top 10 Rules to Launching a Business in China What Business Structure Should You Choose for Investment in China Minimum Registered Capital Once you choose a legal structure, you’ll need to determine the minimum registered capital. The registered capital is the total amount of capital contributions that must be paid by shareholders to a foreign-invested enterprise registered with the Chinese government. Technically, the Chinese government has eliminated this requirement for most WFOEs, which was always the only legal structure required to pay the minimum registered capital amount. This means that now the only required upfront costs are those for the actual registration. However, it may still make sense to declare capital anyway.