New Chinese Policies Affect You Soon! Let’s Check

New Chinese Policies Affect You Soon! Let's Check

A series of new policies and measures will formally be adopted and come into force in May. Let’s see how they will affect your everyday life in China and check the updates of important news! 

– 01 –

5-day holiday for Labour Day is coming

New Chinese Policies Affect You Soon! Let's Check

 
As International Labour Day is coming, there will be a 5-day holiday from May 1 to 5 and two adjusted workdays respectively on April 25 (Sun.) and May 8 (Sat.). 
 
HACOS will be off during the holiday and we’ll back to work on May 6 (Thur). Please contact us in advance if you have any need. 
 
New Chinese Policies Affect You Soon! Let's Check
According to the Regulation on Public Holidays for National Annual Festivals and Memorial Days, there are 7 Chinese festivals having a holiday for all citizens. 
We have summarized the related info and make the calendar for 2021, you can click here or check the following link the get the full content. 
Related article: China’s Official 2021 Public Holiday Calendar Just Came Out! 
– 02 –
China will implement regulation in crackdown on illegal fundraising
New Chinese Policies Affect You Soon! Let's Check

Starting on May 1, China will implement a regulation to prevent and handle illegal fundraising amid efforts to promote healthy economic development and maintain social stability. 

 

The new regulation will strengthen oversight in key areas. It will also prevent and defuse risks and protect the legitimate rights and interests of the people. 

For business registration management, the regulation forbids the inclusion of words meaning “financial”, “exchange”, and “wealth management”, to name a few, in the name and business scope of enterprises and self-employed individuals, unless otherwise stipulated by laws, administrative regulations and the State. 

 

New Chinese Policies Affect You Soon! Let's Check

 

To support the crackdown on illegal fundraising, financial and non-banking payment institutions should report large-value and suspicious transactions as required, and analyze and identify related accounts having suspected association with illegal fundraising. 

 

According to the regulation, departments, when handling illegal fundraising cases, may close down business premises and seize assets involved, order individuals leading or assisting illegal fundraising to recover and sell related assets to repay illegally raised funds, and bar those accountable from leaving the country. 

– 03 –
Dog owners walking dogs without a leash will be fined
New Chinese Policies Affect You Soon! Let's Check

China has amended the Law of Animal Epidemic Prevention which will come into effect on May 1. The law covers all livestock and animals raised or captured by humans. 
 
According to the revised law, any person or organization who raises a dog must ensure the animal is routinely vaccinated, and register the vaccination certificate. 
 
New Chinese Policies Affect You Soon! Let's Check
 
Also, when walking a dog outdoors, the dog should have a valid registration card attached to its collar, and it should be kept on a leash to prevent it hurting anyone or spreading diseases. 
 
There are some other significant measures in the amended law, including the stipulation that wild animals must undergo quarantine, the agricultural and wild animal protection departments of the State Council must co-work in making a quarantine regulation for wild animals, and so on. 
– 04 –
Now you can search EU trademark information via official system in China
 

New Chinese Policies Affect You Soon! Let's Check

 
China’s National Intellectual Property Administration (NIPA) on Monday launched a registration-information inquiry system for trademarks registered in the European Union. 
 
It is reported that the system, named EUTMS, is the first official inquiry tool of international trademark information in China, and is capable of handling 100 active users simultaneously. 
 
New Chinese Policies Affect You Soon! Let's Check
 
The general public may search with keywords, such as trademark name, application number and applicant, to browse and download trademark information. 
 
The NIPA will further optimize the functions of the EUTMS, striving to provide better and more efficient trademark information services. 
– 05 –
New rules restrict apps’ collection of user data
New Chinese Policies Affect You Soon! Let's Check
China has issued new regulations that clarify what counts as “necessary” personal information that mobile apps are allowed to collect from users. The regulation will come into effect on May 1. 
 
In a document introduced last month, the Ministry of Industry and Information Technology, the Ministry of Public Security and some other departments have listed clearly the necessary personal information that 39 categories of apps can collect. 
 
New Chinese Policies Affect You Soon! Let's Check
 
For example, a car-hailing app can only obtain a user’s name, telephone number and location, because such information is necessary. The user’s photograph and gender are unnecessary details and hence the app should not collect them. 
 
The move is a clear signal that apps should refrain from obtaining detailed personal information, let alone sell it for money. 
– 06 –
Int’l flights to China with passengers diagnosed as confirmed cases can be exempted from suspension

New Chinese Policies Affect You Soon! Let's Check

On Wednesday, Civil Aviation Administration of China issued the Notice on Trial Implementation of Adjusting the Circuit Breaker Measures for Scheduled International Passenger Flights
 
New Chinese Policies Affect You Soon! Let's Check
 
According to the notice, the “circuit breaker” measures have been adjusted. Limiting passenger load factor operation will be accepted if 5 to 9 passengers from any single inbound flight operated by an airline are diagnosed as confirmed cases. 
 
The airline involved may choose circuit breaker measures or measures of limiting PLF operation: 
  • Circuit breaker measures: the flight in question shall be suspended for 2-week operation starting from the fourth week of its entry into China, and its incentive flight shall be canceled; 

  • Measures of limiting PLF operation: the flight in question shall be imposed a 4-week PLF limit of no higher than 40% on its operation starting from the fourth week of its entry into China, and its incentive flight shall be canceled. 

 
 
– 07 –
These China-bound flights to suspended! CAAC issued circuit breaker directives
New Chinese Policies Affect You Soon! Let's Check
 
In recent days, the Civil Aviation Administration of China (CAAC) has issued “circuit breaker” directives on three airlines’ flights to China as some passengers on these flights have been tested positive for COVID-19. 
 
We’ve posted an update on Tuesday, you can check it from the following link: 
CAAC issued the directives on three more flights on April 29, including China Southern Airlines’ flight CZ348, Air China’s flight CA942 and Kenya Airways’ flight KQ882. 
 
New Chinese Policies Affect You Soon! Let's Check
Since CAAC has issued the “circuit breaker” directives on flight CA942 and flight KQ882and these two flights have been suspended for two weeks from April 26, the suspension period will be further extended. 
The list of airlines and flights that recently got the directives is as follows. If you’ve planned to fly to China this month and bought the tickets for the involved flights, please contact the airlines as soon as possible. 
New Chinese Policies Affect You Soon! Let's Check

New Chinese Policies Affect You Soon! Let's Check

In order to help you reach the latest update on the global pandemic situation, HACOS has set a quick link on the menu of our WeChat page. Follow us, you can check it whenever you want! 

New Chinese Policies Affect You Soon! Let's Check

Share to let your friends know!

New Chinese Policies Affect You Soon! Let's Check

SOURCE | China Gov / CAAC / China Daily

👇These Articles May Help You
New Chinese Policies Affect You Soon! Let's Check You’ll Be Blacklisted for These Transactions! Strict Rule!
New Chinese Policies Affect You Soon! Let's Check RMB With These Numbers Are All Fake! Pay Attention!
New Chinese Policies Affect You Soon! Let's Check How Much Money Can I Bring When Entering China?

New Chinese Policies Affect You Soon! Let's Check

New Chinese Policies Affect You Soon! Let's Check

Updates on Flying to China! These Flights to be Suspended!

China’s Civil Aviation Administration (CAAC) recently has issued circuit breaker directives on 9 flights. Let’s check the details and plan your trip to China in advance. 
Updates on Flying to China! These Flights to be Suspended!
© Image | Xinhua
Suspension on These Flights
 
The Civil Aviation Administration of China (CAAC) has issued “circuit breaker” directives on several airlines’ flights to China as some passengers on these flights have been tested positive for coronavirus. 
 
The involved domestic and overseas airlines include: 
  • Air China 
  • Sriwijaya Air  
  • Xiamen Airlines 
  • KLM Royal Dutch Airlines  
  • Kenya Airways 
  • China Southern Airlines 
  • Shenzhen Airlines 
Updates on Flying to China! These Flights to be Suspended!
The list of airlines and flights that got the directives is as follows. If you’ve planned to fly to China in recent days and bought the tickets for the involved flights, please contact the airlines as soon as possible
 
Updates on Flying to China! These Flights to be Suspended!
On April 19, CAAC issued the circuit breaker directives on two flights. Air China’s flight CA946 and Sriwijaya Air’s flight SJ3184 will be suspended for two weeks from April 26
 
On April 23, CAAC issued the directives on three flights. Xiamen Airlines’ flight MF820, KLM Airlines’ flight KL831 and Kenya Airways’ flight KQ882 will be suspended from April 26. The suspension period of the above-mentioned flights is two weeks
 
According to the notice issued on April 25, CAAC issued the directives on four flights and cancelled a reward flight. Air China’s flight CA942, China Southern Airlines’ flight CZ3056 and Shenzhen Airlines’ flight ZH9052 will be suspended for two weeks from April 26. Shenzhen Airlines’ flight ZH8058 will also be suspended since it is a reward flight of ZH9052. 
 
Air China’s flight CA946will be further suspended for two weeks from May 10 since more passengers have been found positive in their nucleic acid test. This means the total suspension period of the flight is four weeks
 
Updates on Flying to China! These Flights to be Suspended!
 
 
Current Entry Policy & Measures
By now, foreign nationals holding valid Chinese residence permits of three specific categories are allowed to enter China with no need for applying for new visas. 
 
Related article: Breaking! Foreigners with Valid Permits Can Enter China Now! 
 

Updates on Flying to China! These Flights to be Suspended!

Updates on Flying to China! These Flights to be Suspended!

Updates on Flying to China! These Flights to be Suspended!

 
Other measures in the announcement issued on March 26 will continue to be implemented. 
 
Related article: Breaking! China Ban Foreigners Entering China with Valid Visas! 
 
The requirements of visa application and health testing may be a bit different at the Chinese embassy and consulate general in different regions. Please check the latest detailed notice and requirements on their official websites. 
 
Related article: 
Updates on Flying to China! These Flights to be Suspended!
We will keep following the updates on the latest entry policies and flight schedule. Stay tuned! 
 
If you have any questions about coming to China, please feel free to contact HACOS

Updates on Flying to China! These Flights to be Suspended!

In order to help you reach the latest update on the global pandemic situation, HACOS has set a quick link on the menu of our WeChat page. Follow us, you can check it whenever you want! 

 

Updates on Flying to China! These Flights to be Suspended!

Share to let your friends know!

Updates on Flying to China! These Flights to be Suspended!

SOURCE | CAAC / China Daily

👇These Articles May Help You
Updates on Flying to China! These Flights to be Suspended! You’ll Be Blacklisted for These Transactions! Strict Rule!
Updates on Flying to China! These Flights to be Suspended! RMB With These Numbers Are All Fake! Pay Attention!
Updates on Flying to China! These Flights to be Suspended! How Much Money Can I Bring When Entering China?

Updates on Flying to China! These Flights to be Suspended!Updates on Flying to China! These Flights to be Suspended!

Foreign Vaccines Recognized for Entering China? Not Really!

Foreign Vaccines Recognized for Entering China? Not Really!

The Chinese embassy in the United States has updated guidelines for China-bound travelers whose IgM test results are positive due to COVID-19 vaccines. Some media reports said that’s a sign that China is now recognizing foreign vaccines and relaxing entry policy. Is it true? 
Foreign Vaccines Recognized for Entering China? Not Really!
 
Last week, the Chinese Embassy in the U.S. and the Consulate General in the LA have issued notice on the testing requirements for China-bound passengers after inoculated with COVID-19 vaccines. 
 
According to the notice, the embassy has further adjusted regulations for travelers who test positive for IgM antibodies due to vaccination. Let’s check the requirements! 
 
Foreign Vaccines Recognized for Entering China? Not Really!
Foreign Vaccines Recognized for Entering China? Not Really!
 
Updates on Testing Requirements
 

For passengers who have received non-inactivated vaccines

If the nucleic acid test result is negative and the IgM antibody test result is positive due to inoculation of China-made vaccine, the applicant can apply for the health code following normal procedures
 
Please download the Statement of COVID-19 Vaccination or the Letter of Commitment on COVID-19 Vaccination, fill it out truthfully, sign in and upload it together with the “dual-tests” certificates and vaccination certificates through the application website. 
 
Here are the websites for downloading the statement (疫苗接种声明书): 
  • Letter of Commitment on COVID-19 Vaccination (issued by the Chinese Embassy in the US.) 
    http://www.china-embassy.org/eng/visas/zyxx/P020210421787870030822.pdf 
  • Statement of COVID-19 Vaccination (issued by the Chinese Consulates General in Los Angeles) 
    http://losangeles.china-consulate.org/chn/lbyj/P020210421122155142569.pdf 

For passengers who have received non-inactivated vaccines

a. Pfizer, Moderna and Johnson & Johnson vaccines are all non-inactivated vaccines. Pfizer and Moderna vaccines require two doses, and Johnson & Johnson vaccine needs one dose. 
 
If passengers choose to be vaccinated, they must get all the required shots before their trip to China. 
 
Foreign Vaccines Recognized for Entering China? Not Really!
 
b. Positive IgM test results may occur after vaccination. In order to distinguish between vaccination and infection, passengers who have been inoculated of the non-inactivated vaccine and tested positive for IgM antibodies are advised to submit the following documents: 
  • A report of the IgM antibody test against nucleocapsid (N) protein 

  • Letter of Commitment on COVID-19 Vaccination / Statement of COVID-19 Vaccination 

  • Vaccination certificate

  • Air ticket or itinerary

  • Results for nucleic acid test and IgM antibody test 

The requirements may be a little bit different between the embassy and the consulate general, please check the latest detailed regulations on their official websites. 
 
 
How about the Entry Policy? 
 
China has provided facilitation for visa applicants who have been inoculated with China-made COVID-19 vaccines. Some documents are no longer required for the application.
Related article: New Visa Policy Comes into Effect! No Need to Obtain PU Letter! 
 
Foreign Vaccines Recognized for Entering China? Not Really!
 
After the notices were issued, we see some media reports say that China has begun accepting non-Chinese vaccines and will ease the entry policy for international travelers. 
However, as the notice says, the regulations have been set for China-bound passengers’ tests and health code application. These measures would not affect the adjustment of entry policy and quarantine measures. 
 
Foreign Vaccines Recognized for Entering China? Not Really!
 
We will keep following the updates on the latest Chinese visa policies and quarantine measures. Stay tuned! 
 
If you have any questions about coming in China, please feel free to contact HACOS

Foreign Vaccines Recognized for Entering China? Not Really!

In order to help you reach the latest update on the global pandemic situation, HACOS has set a quick link on the menu of our WeChat page. Follow us, you can check it whenever you want! 

 

Foreign Vaccines Recognized for Entering China? Not Really!

Share to let your friends know!

Foreign Vaccines Recognized for Entering China? Not Really!

SOURCE | Chinese embassy / Global Times

👇These Articles May Help You
Foreign Vaccines Recognized for Entering China? Not Really! You’ll Be Blacklisted for These Transactions! Strict Rule!
Foreign Vaccines Recognized for Entering China? Not Really! RMB With These Numbers Are All Fake! Pay Attention!
Foreign Vaccines Recognized for Entering China? Not Really! How Much Money Can I Bring When Entering China?

Foreign Vaccines Recognized for Entering China? Not Really!Foreign Vaccines Recognized for Entering China? Not Really!

Policy Tightened! All Individual Shareholders Need to Know This!

Policy Tightened! All Individual Shareholders Need to Know This!

Starting from April 1, individual shareholders need to provide tax payment vouchers of Individual Income Tax (IIT) and Stamp Tax when transferring shares. This means that China has further tightened tax policies. It is more and more significant to do tax planning for those who do business in the country. 
According to the Guangzhou government, individuals who transfer shares and apply for registration of share change are required to present the certificate on relevant payment of the Individual Income Tax (IIT) after declaration. 
 

Policy Tightened! All Individual Shareholders Need to Know This!

△ Notice issued by Guangzhou Tax Bureau and Guangzhou Administration for Market Regulation 

 

Policy Tightened! All Individual Shareholders Need to Know This!

△ A sample of the certificate on payment of the IIT on the earnings from share transfer

 
HOW TO CALCULATE? 
 
IIT payable = (earning from share transfer – original value of share – certain fees) * 20% 
* On the basis of asset transfer. 
 
Stamp Tax payable = earning from share transfer * 0.05% 
 
Tax payable of corporate shareholder = (earning from share transfer – original value of share – certain fees) * applicable tax rate 
 

When the invested company has profits, the earning from share transfer shall not be 0 and not less than the undistributed profits based on the share proportion. Otherwise, it will be considered that the price is less than its fair market value.

The above-mentioned fees include taxes and fees incurred in the transfer. Besides, Paid-in capital shall be taken into account for the original price of share. The original price of share will be 0 if the paid-in capital is 0.

Policy Tightened! All Individual Shareholders Need to Know This!

Case One

Individual A and Company B invested and set up Company C with no paid-in capital. There’s no income during the operation (the Statement of Profit and Loss shows that the undistributed profit is negative). Now Company D is planning to acquire Company C. 
 
In this case, both A and B don’t need to pay tax
 
Policy Tightened! All Individual Shareholders Need to Know This!
However, A is still required to present the certificate on payment of the IIT on the earnings from share transfer issued by tax authorities. 
 

Case Two

Individual A and Company B invested and set up Company C with no paid-in capital. There are some incomes during the operation (the Statement of Profit and Loss showed that the undistributed profit is positive). Now Company D is planning to acquire Company C. 
 
For Individual A: 
① IIT payable = (earning from share transfer – Stamp Tax payable) * 20% 
② Stamp Tax payable = earning from share transfer * 0.05% 
 
For Company B: 
① Corporate shareholder’s tax payable = (earning from share transfer – Stamp Tax payable) * applicable tax rate 
② Stamp Tax payable = earning from share transfer * 0.05% 
 
Policy Tightened! All Individual Shareholders Need to Know This!
 
 
ANY PREFERENTIAL POLICY? 
 
Foreigners have long enjoyed preferential tax subsidy and tax exemption policies in China. 
 
As China’s Individual Income Tax Law keeps improving, foreigners can enjoy a series of tax reduction policies just like their Chinese colleagues and friends. 
 
For example, foreign individuals can apply for IIT exemption or reduction on dividends paid by foreign-invested enterprises.
 
For small-scale taxpayers, they also can see their stamp tax payments halved
 
Policy Tightened! All Individual Shareholders Need to Know This!
As the government keeps improving laws and regulations, tax policies are eventually tightened. Therefore, it is necessary to do tax planning in advance to manage your money in a better way. 
 
If you have any question on doing business and tax payments in China, please feel free to contact HACOS

Policy Tightened! All Individual Shareholders Need to Know This!

In order to help you reach the latest update on the global pandemic situation, HACOS has set a quick link on the menu of our WeChat page. Follow us, you can check it whenever you want! 

 

Policy Tightened! All Individual Shareholders Need to Know This!

Share to let your friends know!

Policy Tightened! All Individual Shareholders Need to Know This!

👇These Articles May Help You
Policy Tightened! All Individual Shareholders Need to Know This! You’ll Be Blacklisted for These Transactions! Strict Rule!
Policy Tightened! All Individual Shareholders Need to Know This! RMB With These Numbers Are All Fake! Pay Attention!
Policy Tightened! All Individual Shareholders Need to Know This! How Much Money Can I Bring When Entering China?

Policy Tightened! All Individual Shareholders Need to Know This!Policy Tightened! All Individual Shareholders Need to Know This!