The pattern of China’s e-commerce market Thanks to the developed logistics system, the Chinese e-commerce market has experienced astonishing growth in the past few decades. By 2023, China will account for 63% of the global online shopping market, estimated to be worth over $2 trillion. The comprehensive electronic payment services and powerful mobile terminal market…
About Simon Legal Services No matter where you operate your business, understanding and complying with local laws is something you should always consider. Collaborating with experienced legal professionals can provide you with a deep understanding of Chinese law and practice, facilitating and facilitating business transactions, whether you are operating in China or communicating with Chinese…
Why do we need credit reports from Chinese companies? As a foreign investor, the safety of your investments and transactions, as well as the authenticity of your investment goals and counterparties, are factors that you must consider when conducting business in China. According to Simon’s practice, the main reasons for business failures and economic disputes…
Where are the potential tax refunds? Over the past few decades, Simon has been working with overseas clients in China, and we were surprised to find that many companies did not recover their tax refunds and left the money without making any claims. If you don’t claim it, no one will come to return it…
How important are tax optimization and risk management? Tax optimization and risk management are some key challenges that all entrepreneurs should not overlook. In this rapidly developing environment, Chinese business owners need to constantly meet legal requirements related to tax compliance to reduce tax risks, while striving to optimize their structure to achieve greater profit…
Thank you very much for your interest in Simon’s monthly banking and cash management services! We are committed to providing comprehensive banking solutions for individuals and businesses to meet your financial needs. With our reliable and efficient service, you can save time, simplify financial processes, and focus on truly important business development. It is important…
As is well known, an experienced Chief Financial Officer (CFO) is an essential component of all company operations. A qualified Chief Financial Officer is responsible for financial planning, determining tax strategies, managing internal controls and legal compliance, and sometimes making investment decisions and managing capital structures, always playing an important role that cannot be ignored.…
Who should submit annual reports and statutory audits? According to the Company Law of the People’s Republic of China, all companies registered in China, including limited liability companies, joint stock limited companies, non corporate entities, and other commercial entities, are required to undergo an annual inspection in order to continue operating in the following year.…
Introduction to Chinese Accounting Standards China’s accounting system follows the framework of Generally Accepted Accounting Principles (GAAP), also known as Chinese Accounting Standards (CAS). These standards have been regularly revised and continuously developed over time, and now they fully comply with globally recognized International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles. Despite…
Different types of bank accounts in China Non resident account: It is applicable to foreign institutions and companies of domestic and foreign banks in Chinese Mainland and is subject to the strict supervision of the State Administration of Foreign Exchange (SAFE) Offshore account: Only opened for overseas institutions and individuals in four authorized banks managed…