China
Chinese Books Now Available by Airmail, For a Price
Chinese online retailer 360buy.com said Tuesday it will now ship books overseas, opening up a selection of 500,000 titles to Chinese-language readers overseas who can’t easily get to their nearest Chinatown bookstore. 360buy.com The Chinese version of Amy Chua’s “Battle Hymn of the Tiger Mother” for sale on 360buy.com. The service would be welcome by many people for whom access to original copies of Chinese books is difficult or impossible. Previous options have been limited to going through a scattering of overseas Chinese book dealers, usually located in major cities with large Chinese-speaking populations, or buying them directly in China and hauling them back. China has a number of online document-sharing services through which users swap electronic copies of books, and some online merchants offer books cheaply in PDF-format, but many such copies are unlicensed. The new service promises to make the process a lot more convenient. Still, buyers should beware of expensive, non-refundable shipping fees. Operated by privately-held Beijing Jingdong Century Trading Co., 360buy will offer the books for the same price as it does to buyers in China, so “overseas readers will be able to purchase books at the most affordable prices,” the company said. Books will be delivered by DHL within one week and payments can made in U.S. dollars through eBay’s PayPal, based on an exchange rate set by 360buy. Among the offerings are Huang Tieying’s popular “Haidilao: You Can’t Touch This” ( 海底捞你学不会 ), detailing the customer-first business strategy of one of China’s best loved hotpot chain (around $3.70), and Wang Xiaofang’s reliably entertaining fiction series, “Stationed in Beijing” ( 驻京办主任 ), about the corrupt dealings of local government representatives in the capital (roughly $10.50 for the box set). China history geeks can now mail order one of three different versions of the Qing Dynasty classic, “Complete Library of the Four Treasuries” ( 四库全书 ) instead of lugging the tome back on the plane (between $50 and $130). Meanwhile, fans of Tiger Mother Amy Chua can discover how her book on parenting sounds when translated into Chinese ( 我在美国做妈妈 ; roughly $2.50) or compare it with Yi Jianli’s perennial parenting best-seller “A Good Mom Beats a Good Teacher” ( 好妈妈胜过好老师 ; around $2.60) A scan of the company’s shipping rates , however, shows that delivery fees would be hefty. For standard air shipping, customers in North America will have to pay 50 yuan per item ordered, plus a 150 yuan shipping fee. The fees “include order-based freight, export duties and other taxes,” according to 360buy’s website, though customers would be responsible for any fees collected by destination countries, the website says. The company estimates delivery time to be one week, but warns that it will not bear responsibility for any time or money lost if shipments are embargoed by Chinese Customs or held up by other customs procedures. Customers entitled to refunds may request returns within 15 days, but only product payment and collection charges can be refunded, not the cost of shipping. In addition, overseas customers will not be entitled to pricing guarantees, coupons, order discounts, promotional offers or gift card payments. Dangdang, a 360buy competitor that listed on the New York Stock Exchange last December, ships outside Greater China for a fee of 50% of the order total, with a minimum fee of 50 yuan, and delivers in four to eight weeks, according to its website. A 360buy spokeswoman said that the company had received many requests for the company to ship its products internationally from overseas Chinese customers who couldn’t easily find Chinese books outside of China. Like Amazon, 360buy’s online offerings for consumers inside China include a broad range of products such as electronics and cosmetics. The company was founded in 2004 by the owner of a brick and mortar electronics retailer, and has become one of the biggest e-commerce websites in China. – Loretta Chao. Follow her on Twitter @lorettac
Chinese online retailer 360buy.com said Tuesday it will now ship books overseas, opening up a selection of 500,000 titles to Chinese-language readers overseas who can’t easily get to their nearest Chinatown bookstore.
- 360buy.com
- The Chinese version of Amy Chua’s “Battle Hymn of the Tiger Mother” for sale on 360buy.com.
The service would be welcome by many people for whom access to original copies of Chinese books is difficult or impossible. Previous options have been limited to going through a scattering of overseas Chinese book dealers, usually located in major cities with large Chinese-speaking populations, or buying them directly in China and hauling them back. China has a number of online document-sharing services through which users swap electronic copies of books, and some online merchants offer books cheaply in PDF-format, but many such copies are unlicensed.
The new service promises to make the process a lot more convenient. Still, buyers should beware of expensive, non-refundable shipping fees.
Operated by privately-held Beijing Jingdong Century Trading Co., 360buy will offer the books for the same price as it does to buyers in China, so “overseas readers will be able to purchase books at the most affordable prices,” the company said. Books will be delivered by DHL within one week and payments can made in U.S. dollars through eBay’s PayPal, based on an exchange rate set by 360buy.
Among the offerings are Huang Tieying’s popular “Haidilao: You Can’t Touch This” (海底捞你学不会), detailing the customer-first business strategy of one of China’s best loved hotpot chain (around $3.70), and Wang Xiaofang’s reliably entertaining fiction series, “Stationed in Beijing” (驻京办主任), about the corrupt dealings of local government representatives in the capital (roughly $10.50 for the box set).
China history geeks can now mail order one of three different versions of the Qing Dynasty classic, “Complete Library of the Four Treasuries” (四库全书) instead of lugging the tome back on the plane (between $50 and $130).
Meanwhile, fans of Tiger Mother Amy Chua can discover how her book on parenting sounds when translated into Chinese (我在美国做妈妈; roughly $2.50) or compare it with Yi Jianli’s perennial parenting best-seller “A Good Mom Beats a Good Teacher” (好妈妈胜过好老师; around $2.60)
A scan of the company’s shipping rates, however, shows that delivery fees would be hefty. For standard air shipping, customers in North America will have to pay 50 yuan per item ordered, plus a 150 yuan shipping fee. The fees “include order-based freight, export duties and other taxes,” according to 360buy’s website, though customers would be responsible for any fees collected by destination countries, the website says.
The company estimates delivery time to be one week, but warns that it will not bear responsibility for any time or money lost if shipments are embargoed by Chinese Customs or held up by other customs procedures. Customers entitled to refunds may request returns within 15 days, but only product payment and collection charges can be refunded, not the cost of shipping.
In addition, overseas customers will not be entitled to pricing guarantees, coupons, order discounts, promotional offers or gift card payments.
Dangdang, a 360buy competitor that listed on the New York Stock Exchange last December, ships outside Greater China for a fee of 50% of the order total, with a minimum fee of 50 yuan, and delivers in four to eight weeks, according to its website.
A 360buy spokeswoman said that the company had received many requests for the company to ship its products internationally from overseas Chinese customers who couldn’t easily find Chinese books outside of China. Like Amazon, 360buy’s online offerings for consumers inside China include a broad range of products such as electronics and cosmetics. The company was founded in 2004 by the owner of a brick and mortar electronics retailer, and has become one of the biggest e-commerce websites in China.
– Loretta Chao. Follow her on Twitter @lorettac
Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2009 stood as the second-largest economy in the world after the US, although in per capita terms the country is still lower middle-income.
One demographic consequence of the “one child” policy is that China is now one of the most rapidly aging countries in the world.
China is the world’s fastest-growing major economy, with an average growth rate of 10% for the past 30 years.
The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978.
Agricultural output has been vulnerable to the effects of weather, while industry has been more directly influenced by the government.
The technological level and quality standards of its industry as a whole are still fairly low, notwithstanding a marked change since 2000, spurred in part by foreign investment.
The market-oriented reforms China has implemented over the past two decades have unleashed individual initiative and entrepreneurship, whilst retaining state domination of the economy.
Globally, foreign investment decreased by almost 40 percent last year amid the financial downturn and is expected to show only marginal growth this year.
Last year was the eighth consecutive year that the nation’s ODI had grown.
It also aims to sell more than 15 million of the most fuel-efficient vehicles in the world each year by then.
In large part as a result of economic liberalization policies, the GDP quadrupled between 1978 and 1998, and foreign investment soared during the 1990s.
Even with these improvements, agriculture accounts for only 20% of the nation’s gross national product.
China is the world’s largest producer of rice and wheat and a major producer of sweet potatoes, sorghum, millet, barley, peanuts, corn, soybeans, and potatoes.
Livestock raising on a large scale is confined to the border regions and provinces in the north and west; it is mainly of the nomadic pastoral type.
There are also extensive iron-ore deposits; the largest mines are at Anshan and Benxi, in Liaoning province.
Alumina is found in many parts of the country; China is one of world’s largest producers of aluminum.
Major industrial products are textiles, chemicals, fertilizers, machinery (especially for agriculture), processed foods, iron and steel, building materials, plastics, toys, and electronics.
Although a British crown colony until its return to Chinese control in 1997, Hong Kong has long been a major maritime outlet of S China.
Rivers and canals (notably the Grand Canal, which connects the Huang He and the Chang rivers) remain important transportation arteries.
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Chinese Books Now Available by Airmail, For a Price
The New Company Law brings substantial changes with implications for new and existing foreign invested enterprises and stakeholders. Foreign investors must assess if adjustments to existing structures
Despite recent economic challenges, many organizations’ China operations provide unparalleled access to one of the world’s largest and most competitive global supply chains. Over the past 30 years, a significant number of foreign invested enterprises (FIEs) have been established in China. As of the end of 2022, the number of FIEs operating in China had exceeded 1.12 million.
Compared to their domestic counterparts, FIEs demonstrate greater caution regarding legal revisions and are diligent in making swift adjustments. This stems not only from the closer scrutiny FIEs face from regulatory authorities but also from their commitment to compliance and maintaining a competitive edge.
Clearly, there has been a shift in China’s corporate regulations—from merely encouraging an increase in the number of companies to focusing on attracting mature enterprises and higher-quality investments. While the transition from a broad approach to a more refined one may cause short-term challenges, it ultimately benefits the company’s long-term development. By returning to the original intent of setting registered capital, it not only protects the interests of creditors but also shields shareholders from the operational risks of the company.
In China’s foreign investment landscape, while most FIEs exercise commercial prudence in determining registered capital—factoring in capital expenditures, operational costs, and setting aside surplus funds—some opt for higher registered capital levels to avoid future capital increase procedures. This typically involves lengthy document signing and registration changes, lasting 1-2 months.
Joint ventures (JVs) often impose stricter payment deadlines for registered capital in their articles of association to ensure both parties’ simultaneous contributions align with operational needs. Conversely, wholly foreign-owned enterprises (WFOEs) tend to favor flexibility in payment deadlines, often allowing full payment before the company’s operational period expires.
Given these circumstances, despite the generally stronger capital adequacy among foreign companies compared to domestic entities, many FIEs could be affected by the new capital contribution rules.
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.
China
Foreign Tourist Groups on Cruise Ships Fully Permitted Visa-Free Entry in China
China will allow visa-free entry for foreign tourist groups arriving by cruise ship at 13 ports along the coast, starting May 15, 2024. Visitors must stay with the same ship and in permitted areas for up to 15 days. This policy aims to boost tourism and facilitate high-quality development in the cruise industry.
China’s immigration agency announced that it will grant a visa-free policy for foreign tourist groups to enter China by cruise at all cruise ports along the coast of China, starting May 15, 2024. The tourist group must remain with the same cruise ship until its next port of call and stay within permitted areas for no more than 15 days.
Effective May 15, 2024, the National Immigration Administration (NIA) has officially implemented a visa-free policy for foreign tourist groups entering China via cruise ships. This progressive move aims to enhance personnel exchanges and foster cooperation between China and other nations, furthering the country’s commitment to high-level openness.
Under this policy, foreign tourist groups, comprising two or more individuals, who travel by cruise ship and are organized by Chinese domestic travel agencies, can now enjoy visa-free entry as a cohesive group at cruise ports in 13 cities along the Chinese coast.
The tourist group must remain with the same cruise ship until its next port of call and stay within China for no more than 15 days. The eligible areas for this policy are coastal provinces (autonomous regions and municipalities) and Beijing.
Furthermore, to support cruise tourism development, seven additional cruise ports—Dalian, Lianyungang, Wenzhou, Zhoushan, Guangzhou, Shenzhen, and Beihai—have been included as applicable ports for visa-free transit.
The recent implementation of the visa-free policy for foreign tourist groups entering China via cruise ships is poised to have several significant effects. The policy will provide crucial support for the cruise economy and the overall cruise industry. By facilitating smoother travel for foreign tourist groups, it acts as a catalyst for high-quality development in this sector.
Additionally, under this policy, international cruise companies can strategically plan their global routes by designating Chinese port cities, such as Shanghai, Xiamen, and Shenzhen, as docking destinations. This move is expected to attract more cruise ships to Chinese ports, ultimately bringing in a larger number of international visitors to the Chinese market.
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.
China
China’s New Tariff Law: Streamlining and Standardizing Current Tariff Regulations
China’s new Tariff Law consolidates import and export duties, clarifies rules for imposing counter-tariffs, and sets a December 1, 2024 effective date. It codifies existing practices on cross-border e-commerce and rules on the origin of goods into law, impacting trade relations.
China’s new Tariff Law consolidates rules on import and export duties that were previously implemented via several legal documents and makes important clarifications and additions to prior regulations. Among other changes, it stipulates provisions for the Chinese government to impose counter-tariffs on imported goods, codifying these powers into law for the first time. We outline all the notable updates to the China Tariff Law and discuss the implications for the country’ current trade relations.
On April 26, 2024, the National People’s Congress (NPC), China’s legislature, adopted the Tariff Law of the People’s Republic of China (the “Tariff Law”) after several rounds of revisions.
The new Tariff Law will replace the Import and Export Tariff Regulations of the People’s Republic of China, which fall under the purview of the State Council, and adopts many of its provisions.
Previously, Chinese law had not stipulated legislative powers to implement countervailing tariffs, although China was nonetheless able to impose counter-tariffs on trade partners through other means.
China’s new Tariff Law comes into effect on December 1, 2024.
China’s Tariff Law elevates several existing provisions and practices to the level of law. For instance, Article 3 of the Tariff Law clarifies the obligations of cross-border e-commerce platforms for tariff withholding and implementing consolidated taxation.
The Tariff Law also solidifies the rules and regulations on the origin of goods, stipulating that the application of tariff rates shall comply with the corresponding rules of origin. Although this has been previously implemented in practice, it is the first time this has been codified into law.
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.
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- Foreign Tourist Groups on Cruise Ships Fully Permitted Visa-Free Entry in China
- China’s New Tariff Law: Streamlining and Standardizing Current Tariff Regulations
- Outlook on Bilateral Trade and Investment between China and United Arab Emirates (UAE)
- 2024 Tax Incentives for Manufacturing Companies in China
- Exploring the Revamped China Certified Emission Reduction (CCER) Program: Potential Benefits for International Businesses
