In order to ensure legal compliance in China, human resources and recruitment firms are mandated to obtain a specialized Human Resources license from the relevant governmental department in the designated city. Specifically, the required license is known as the “Human Resources Service License” (人力资源服务许可证), which is issued by the Ministry of Human Resources and Social Security of the People’s Republic…
Originally posted on April 30, 2023 China is known for its booming economy, and it is no surprise that many foreign entrepreneurs are interested in setting up their businesses in the country. Registering a company in China can be a great way for foreigners to take advantage of the country’s growth and gain access to its vast market. Shenzhen, in…
Foreign companies that wish to do business in China must have a basic understanding of the country’s accounting and taxation system. China has a complex regulatory environment, and non-compliance with regulations can lead to serious consequences for foreign companies. In China, the accounting system is based on the Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS).…
