On July 1, 2024, China implemented new rules for registered capital registration management system under the Company Law, ensuring timely capital contribution, adjusting investment periods, and optimizing registration services. Companies established before the law amendment have three years to comply with the new regulations.

UPDATE (July 1, 2024): On June 7, 2024, the draft Provisions on the Registered Capital Registration Management System of the PRC Company Law were adopted during an executive meeting of the State Council. In implementing the registered capital management system, the meeting emphasized the need to adjust investment periods for existing companies, ensure shareholders fulfill their capital contribution obligations and optimize registration services. On July 1, 2024, the official document was released on the State Council website.

At the end of 2023, China’s legislature adopted an amendment to the Company Law, which introduced new regulations on the term of payment for subscribed capital, as well as requirements to publicly disclose the amount of registered capital.

In order to accommodate companies that are established before the amended Company Law comes into effect and have subscribed capital payment terms exceeding the five-year time limit, companies will be granted three years to adjust the contribution period to meet this requirement.

To provide guidance and ensure the implementation of the new rules within the deadline, on June 7, 2024, the State Council also approved the Provisions on the Registered Capital Registration Management System (the “management provisions”). The management provisions also came into force on July 1, 2024.

The final version of the management provisions differs somewhat from the previous draft version released in March (2024), having removed a number of requirements for information disclosure, as well as eligibility requirements for companies to reduce their registered capital.

Below we outline the requirements stipulated in the final version of the management provisions.

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China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at china@dezshira.com.

The National Immigration Administration announced a new five-year Mainland Travel Permit for foreign permanent residents of Hong Kong and Macao, allowing them to visit China for short-term purposes. The initiative aims to streamline immigration processes and enhance integration with the mainland, specifically within the Greater Bay Area.

On July 1, 2024, the National Immigration Administration (NIA) announced a new measure aimed at enhancing travel convenience for foreign permanent residents of Hong Kong and Macao. Starting July 10, 2024, these residents will be able to apply for a five-year Mainland Travel Permit (hereinafter, the “permit”), allowing them to visit the Chinese mainland for short-term purposes.

The initiative is part of China’s ongoing efforts to streamline immigration processes and foster greater integration of Hong Kong and Macao with the mainland, particularly within the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

To be eligible for the permit, applicants must:

The new travel permit covers the following scope:

The permit is valid for five years. During this period, holders can travel to the Chinese mainland multiple times, with each stay not exceeding 90 days.

Permit holders are not allowed to work, study, or engage in news coverage activities while in the Chinese mainland.

This article is republished from China Briefing. Read the rest of the original article.

China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at china@dezshira.com.

Poland and China have had a constructive relationship since 1949, focusing on enhancing bilateral cooperation in trade, agriculture, and infrastructure under the Belt and Road Initiative. Despite recent challenges and shifts in relations, high-level political interactions between the two nations have remained consistent.

Poland and China have maintained a constructive relationship since 1949, with significant economic and diplomatic engagements. Recent high-level meetings, including Duda’s 2024 visit to Beijing, have focused on enhancing bilateral cooperation, particularly in trade, agriculture, and infrastructure under the Belt and Road Initiative, amidst

China and Poland have cultivated a constructive relationship since establishing formal diplomatic ties, marked by significant economic and diplomatic engagement. Poland’s participation in China’s 16+1 format, the Asian Infrastructure Investment Bank (AIIB), and the Belt and Road Initiative (BRI) underscores its commitment to enhancing bilateral ties, aiming to boost economic growth and secure alternative funding outside the EU.

However, in recent years, this relationship has undergone notable changes. The anticipated economic benefits did not fully materialize, prompting a reassessment in Warsaw, especially amidst increasing geopolitical tensions, including the Russia-Ukraine conflict. Despite these challenges, high-level political interactions between both nations have remained consistent, indicating ongoing, albeit cautious, dialogue.

This article provides insights into bilateral trade and investment between China and Poland, alongside an overview of the tax and investment treaties that underpin their economic relationship.

Diplomatic ties between the Republic of Poland and the People’s Republic of China were established in 1949. Since then, the relationship between Poland and China has evolved into a multifaceted and evolving partnership. In June 2016, under the leadership of Chinese President Xi Jinping and Polish President Andrzej Duda, China and Poland elevated their relationship to a strategic partnership.

Since the beginning of the Trump administration’s trade disputes with China in 2017, however, Poland, as Europe’s largest participant in China’s BRI, has experienced significant shifts in its relations with Beijing. This period coincided with heightened Sino-US rivalry, exacerbated by the global pandemic, which has influenced Polish perceptions of China.

A pivotal event impacting Sino-Polish relations has been Russia’s invasion of Ukraine. China’s perceived neutrality and alignment with Russia in this conflict have strained ties with Poland, as its seen by many in Poland as favoring Russia.

This article is republished from China Briefing. Read the rest of the original article.

China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at china@dezshira.com.