Today is Jan 1, the first day of 2020. HACOS wish you a happy new year! A series of new rules and policies have now been formally adopted and come into force. Let’s see how they will affect your everyday life in China!
China’s 2020 Public Holiday Calendar
China’s General Office of the State Council has released the official 2020 public holiday calendar. Today, as New Year’s Day, is the first holiday this year.
Later this month, there will be a 7-day holiday for Chinese New Year (Spring Festival) from Jan 25 to Jan 27. The adjusted workdays are Jan 19 and Feb 1.
Besides, there are holidays for Labour Day, Dragon Boat Festival, Mid-autumn Festival, and Chinese National Day. Just tap the pic above or check the following link to know more!
Lower Tariffs on over 850 Items! You Can Buy Cheaper Imported Product Soon!
China has adjusted import tariffs for a range of products starting Jan 1, 2020 to promote high-quality development of trade.
850 items of commodities will be subjected to temporary import duty rates below most-favored-nation (MFN) tariffs. That compared with 706 products that were taxed at temporary rates in 2019.
Doing Business in China Goes Easier! China to Optimize the Environment
The State Council made public a regulation on optimizing the business environment in the latest step to unleash and develop productive forces and advance high-quality development.
The regulation, effective from Jan 1, 2020, specifies the principles and directions for fostering a stable, fair, transparent and predictable business environment.
Meanwhile, the regulation details efforts on cutting red tape, streamlining administrative approval, and improving supervision and administrative law enforcement.
Check the following links to know more about measures to improve the business environment!
Foreign Investment Law Comes into Effect
China will fully implement the Foreign Investment Law from Jan 1, 2020, aiming to better protect the legitimate rights and interests of foreign investors in the country.
The law will help level the playing field for overseas investors and reassure the global community it remains an attractive investment destination.
Miss Flights Due to Traffic? Here’s Faster Way to GZ Airport!
It is quite agonizing to drive to the airport because of bad traffic on the way. You may miss your flight due to circumstances beyond your control.
But now you may get there earlier since the Taicheng-Jinpen Section of the Huadu-Dongguan Expressway open on Jan 1!
The entire 65-km Huadu-Dongguan Expressway runs from east to west, starting at the Airport Expressway’s Taicheng Interchange and ending at the Zengzheng-Dongguan-Shenzhen Expressway, and is scheduled to open this year also.
China Offers Avenue for Companies to Repair Poor Tax Credit
It’s widely known that tax payment may affect social credit. But there are always some people forgetting to do such things and finally not allowed to leave China.
On November 7, 2019, China’s State Administration of Tax (SAT) released the Announcement on Matters Related to Tax Credit Repair, effective from January 1, 2020.
Since today, taxpayers of enterprises that have been included in tax credit management have carried out tax credit repair by making credit commitments and correcting untrustworthiness.
For more about Chinese tax credit system, plz check the link to read our previous article.
Say goodbye to 2019! Check this article to know the policy changes
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SOURCE | China Gov / China Daily