Revision of China's Company Law to improve corporate governance and operations On 20 December 2021, Chinese lawmakers started to review a draft revision of China's Company Law. The new draft updates the current Company Law by revising or adding around 70 articles. The draft aims to improve the current company...
Read moreLiving in a highly globalized and digitalized world, companies and firms are starting to digitalize their work in order to be more competitive and efficient in the fast-paced business world. One of the crucial features of a firm is to have a clear and transparent accounting record. However, conventional manual...
Read moreFollow the local compliance and keep your company up to date and in good standing with the authorities. Although 2020 has been a year with changes and benefits from the government, foreign-invested companies need to follow the basics: Annual Audit Corporate Income Tax Reconciliation Annual Reporting The global economic landscape has suffered a significant change last year. Nevertheless, foreign companies in China should...
Read moreClear and systematic bookkeeping helps businesses keep a close check and track over the finances to ensure everything is in order. In the 21st century, cloud-based accounting services are gradually adopted with Xero as a fast up-comer. Apart from offering a well-organized financial overview and report at the tip of your finger, the...
Read moreDraft Measures for the Security Assessment of Outbound DataHong Kong's Personal Data (Privacy) (Amendment) Ordinance 2021 comes into effect on 8 October 2021Measures for the Discretion over Administrative Penalties in Foreign Exchange ControlLaw Enforcement Guide on Medical Cosmetology AdvertisingDraft Measures for the Security Assessment of Outbound DataOn 29 October 2021,...
Read moreChina’s Personal Information Protection Law (“PIPL”) came into effect on 1 November 2021. Accompanying the PIPL, the Cyberspace Administration of China (“CAC”) also published draft Measures for the Security Assessment of Outbound Data for public consultation. Based on the current development of the data privacy framework, we published an article...
Read moreIn recent years, with the continuous development of big data, cloud computing, and mobile internet, data compliance has attracted more and more attention across all industries and government authorities around the globe. Data compliance includes data security, data supervision, data storage, other physical security issues, and all aspects of personal...
Read moreChina to impose higher fines to businesses operating in Mainland without a local legal entity from March 1st, 2022. Personal Information Protection Law coming into force on November 1st, 2021. Supervision and Administration of Cosmetics for Children to be enforced on January 1st, 2022. Administrative Provisions on Commodity Classification of...
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