China
Lonely hearts look for love in China’s revolutionary dating landscape
Author: Pan Wang, UNSW
Since the mid-2000s, China’s street parks have become new tourist attractions and popular venues for marriage matchmaking. Organised by parent volunteers attempting to find a partner for their children, these ‘marriage matchmaking corners’ or xiangqinjiao can be seen in cities across China.
Many of these parents grew up in the Maoist era (1949–1976) in which they hardly experienced romance or dating due to the political nature of the period. Their children, on the other hand, were born mainly in the opening-up period of the 1980s and 90s. They face the effects of the one-child policy (1980–2015) — coupled with the ingrained preference for sons and access to ultrasound technology and sex-selective abortion — that has distorted China’s sex ratio by producing millions of extra men of marriageable age.
This imbalance has been exacerbated with more and more women choosing to pursue higher education or career advancement, delaying their marriage plans. The rising cost of living and unaffordable housing of recent years has further discouraged people from seeking a partner or getting married.
While parents are desperate to find partners for their children, media outlets have ventured into the dating and marriage matchmaking market. Over the past 20 years, dating shows such as Red Rose Date and If You are the One have become enormously popular, winning the hearts of tens of millions of people. They have made watching others date on TV and gossiping about it a part of everyday life, provoking the public to reflect on love, dating and marriage in China.
From the mid-2000s, private agencies, dating websites and dating apps proliferated. Privately run dating camps and events target singles, teaching them how to date and attract the opposite sex, and create dating opportunities through social gatherings like cooking classes, hiking and afternoon tea.
Popular Chinese dating websites and apps like Zhen’ai, MoMo and TanTan have hundreds of millions of registered users. Gay dating digital networks also grew popular to meet the needs of China’s growing LGBTQI+ community. While many users have found love through these digital dating networks, others remain content with platonic-style romance in the virtual world.
China’s economic reform has also boosted opportunities for international romance. From the 1980s, Chinese-foreign romance was no longer perceived as ‘bourgeoise’ as in the Cultural Revolution, with a rising number of Chinese women entering Chinese–foreign marriages.
Foreign romances invited controversy against a backdrop of growing political sensitivity towards the West. Critics equated Chinese women’s ‘upward’ dating and marriage mobility with ‘western fever’ and ‘western worshiping’ and their foreign partners were dubbed as ‘green cards’ and ‘flight tickets’. But despite the controversy, Chinese–foreign romance continued to grow. Around 80,000 couples registered a Chinese–foreign marriage in 2001 compared to 8,460 couples in 1979. Entering the new millennium, China’s record-breaking economic achievement and its rising international status reversed the migration patterns of Chinese–foreign couples, with many now choosing to reside in China.
From the early 2010s, Chinese singles, primarily in their 20s and 30s, have started running their own services on date-renting platforms. Common services include meeting friends, having dinner dates, watching films, playing games, travelling or having a personal conversation. Prices, sometimes negotiable, vary from free to thousands of dollars.
Through these trading platforms, dating has become a privatised, contractual and tailored service among netizens. Love and dating are initiated through financial transactions and dating practice provides opportunities for love, friendship and other close relationships. Such commodified intimacy can be maintained as a durable economic relationship or converted to friendship, authentic romance or other types of relationships.
On the positive side, date-renting has provided a solution to growing loneliness in China, especially for single men who are unable to find a date due to their disadvantaged status in the marriage market. But it raises concerns around authenticity, information security and personal safety, such as scams, deception, prostitution and fake marriage.
While date-renting has attracted a rising number of singles to trade relationships, it has discouraged people seeking real dates or long-term relationships. This aligns with the paradoxical logic…
China
China Implements New Policies to Boost Foreign Investment in Science and Technology Companies
China’s Ministry of Commerce announced new policy measures on April 19, 2023, to encourage foreign investment in the technology sector. The measures include facilitating bond issuance, improving the investment environment, and simplifying procedures for foreign institutions to access the Chinese market.
On April 19, 2023, China’s Ministry of Commerce (MOFCOM) along with nine other departments announced a new set of policy measures (hereinafter, “new measures”) aimed at encouraging foreign investment in its technology sector.
Among the new measures, China intends to facilitate the issuance of RMB bonds by eligible overseas institutions and encourage both domestic and foreign-invested tech companies to raise funds through bond issuance.
In this article, we offer an overview of the new measures and their broader significance in fostering international investment and driving innovation-driven growth, underscoring China’s efforts to instill confidence among foreign investors.
The new measures contain a total of sixteen points aimed at facilitating foreign investment in China’s technology sector and improving the overall investment environment.
Divided into four main chapters, the new measures address key aspects including:
Firstly, China aims to expedite the approval process for QFII and RQFII, ensuring efficient access to the Chinese market. Moreover, the government promises to simplify procedures, facilitating operational activities and fund management for foreign institutions.
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
Q1 2024 Brief on Transfer Pricing in Asia
Indonesia’s Ministry of Finance released Regulation No. 172 of 2023 on transfer pricing, consolidating various guidelines. The Directorate General of Taxes focuses on compliance, expanded arm’s length principle, and substance checks. Singapore’s Budget 2024 addresses economic challenges, operational costs, and sustainability, implementing global tax reforms like the Income Inclusion Rule and Domestic Top-up Tax.
Indonesia’s Ministry of Finance (MoF) has released Regulation No. 172 of 2023 (“PMK-172”), which prevails as a unified transfer pricing guideline. PMK-172 consolidates various transfer pricing matters that were previously covered under separate regulations, including the application of the arm’s length principle, transfer pricing documentation requirements, transfer pricing adjustments, Mutual Agreement Procedure (“MAP”), and Advance Pricing Agreements (“APA”).
The Indonesian Directorate General of Taxes (DGT) has continued to focus on compliance with the ex-ante principle, the expanded scope of transactions subject to the arm’s length principle, and the reinforcement of substance checks as part of the preliminary stage, indicating the DGT’s expectation of meticulous and well-supported transfer pricing analyses conducted by taxpayers.
In conclusion, PMK-172 reflects the Indonesian government’s commitment to addressing some of the most controversial transfer pricing issues and promoting clarity and certainty. While it brings new opportunities, it also presents challenges. Taxpayers are strongly advised to evaluate the implications of these new guidelines on their businesses in Indonesia to navigate this transformative regulatory landscape successfully.
In a significant move to bolster economic resilience and sustainability, Singapore’s Deputy Prime Minister and Minister for Finance, Mr. Lawrence Wong, unveiled the ambitious Singapore Budget 2024 on February 16, 2024. Amidst global economic fluctuations and a pressing climate crisis, the Budget strategically addresses the dual challenges of rising operational costs and the imperative for sustainable development, marking a pivotal step towards fortifying Singapore’s position as a competitive and green economy.
In anticipation of global tax reforms, Singapore’s proactive steps to implement the Income Inclusion Rule (IIR) and Domestic Top-up Tax (DTT) under the BEPS 2.0 framework demonstrate a forward-looking approach to ensure tax compliance and fairness. These measures reaffirm Singapore’s commitment to international tax standards while safeguarding its economic interests.
Transfer pricing highlights from the Singapore Budget 2024 include:
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
New Report from Dezan Shira & Associates: China Takes the Lead in Emerging Asia Manufacturing Index 2024
China has been the world’s largest manufacturer for 14 years, producing one-third of global manufacturing output. In the Emerging Asia Manufacturing Index 2024, China ranks highest among eight emerging countries in the region. Challenges for these countries include global demand disparities affecting industrial output and export orders.
Known as the “World’s Factory”, China has held the title of the world’s largest manufacturer for 14 consecutive years, starting from 2010. Its factories churn out approximately one-third of the global manufacturing output, a testament to its industrial might and capacity.
China’s dominant role as the world’s sole manufacturing power is reaffirmed in Dezan Shira & Associates’ Emerging Asia Manufacturing Index 2024 report (“EAMI 2024”), in which China secures the top spot among eight emerging countries in the Asia-Pacific region. The other seven economies are India, Indonesia, Malaysia, the Philippines, Thailand, Vietnam, and Bangladesh.
The EAMI 2024 aims to assess the potential of these eight economies, navigate the risks, and pinpoint specific factors affecting the manufacturing landscape.
In this article, we delve into the key findings of the EAMI 2024 report and navigate China’s advantages and disadvantages in the manufacturing sector, placing them within the Asia-Pacific comparative context.
Emerging Asia countries face various challenges, especially in the current phase of increased volatility, uncertainty, complexity, and ambiguity (VUCA). One notable challenge is the impact of global demand disparities on the manufacturing sector, affecting industrial output and export orders.
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 Implements New Policies to Boost Foreign Investment in Science and Technology Companies
- Q1 2024 Brief on Transfer Pricing in Asia
- New Report from Dezan Shira & Associates: China Takes the Lead in Emerging Asia Manufacturing Index 2024
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- Guide for Foreign Residents: Obtaining a Certificate of No Criminal Record in China
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