Category: WeChat

The Gwadar Port in Pakistan, a key project under the China-Pakistan Economic Corridor (CPEC), has become operational for container vessels, as it welcomed its first such ship on March 7 local time, a milestone for the China-proposed Belt and Road initiative.

 

 1 

Operational service lines

COSCO, which launched the Karachi Gwadar Gulf Express, will use the Karachi port, Jebel Ali port and other Emirati ports as transit ports to integrate the new shipping line into its 16 international routes and provide services for global clients.

Thereinto, these 16 international routes include ↓↓↓

• 7 shipping lines between the Far East and the Middle East

• 4 shipping lines between the Far East and Karachi

• 5 shipping lines between the South Asia/ Middle East and Europe & Mediterranean

Shipping network connects regions throughout the world and provide huge convenience to global customers. Meanwhile, it offers an easy access for traders to export cargoes to Afghanistan.  

 2 

Karachi Gwadar Gulf Express

 

According to the news, The development marked the start of a container cargo shipping service between Gwadar and several Middle Eastern ports, known as the Karachi Gwadar Gulf Express (KGS), which is the first container cargo shipping service between Gwadar and the Middle East.

That means, the new Ship Container Service will connect Gwadar Port with the Middle East hub of Jebel Ali as well as the neighboring UAE ports of Abu Dhabi & Sharjah.

 3 

Importance of the Gwadar Port

Considering the importance of the Gwadar Port as focal point of CPEC, its security is paramount. For this purpose, Pakistan Navy has raised Task Force 88 to undertake defence of Gwadar Port and its surrounding areas.

This Task Force is providing defence to Gwadar Port from seaward approaches and Merchant Vessels visiting the Port through deployment of Pakistan Navy assets. 

 4 

China-Pakistan Economic Corridor

China-Pakistan Economic Corridor (CPEC) is a game changer project for Pakistan. Success of this project is a prelude to the economic prosperity of the country and hence has taken a central stage in the economic, political and security calculus of not only Pakistan but the entire region.

A Chinese container vessel, operated by China COSCO Shipping Corp, arrived at the deep sea port escorted by Pakistani Navy vessels. After loading frozen sea food, it departed for the Jebel Ali port in the United Arab Emirates.

This is also the only shipping line in and out of Gwadar in the global shipping market. It means Gwadar will be connected to almost all major ports in the world and represents a big leap forward in the development of Gwadar.

For more shipping and logistics information, welcome to follow HACOSLogistics! Thanks for your support!

Reference | GlobalTimes & TheNews

HACOS,Business Services Solutions Master

WeChat and Alipay declare the highway “no sense” payment started at the same time. After the change of payment of public traffic, mobile payment try to alter the invariable mode of payment of highway in China.

© Image | sohu

 

What is “no sense” payment？

 

© Image | sohu

Alipay

© Image |the Communist Youth League

The payment of licence plate

 

With credit scores above 550, the licence plate can be bound by Alipay. The highway toll fee could be paid by scanning the licence plate.The apparatus will scan your licence plate when leaving from highway and deduct money automatically. No cash, no change and even no mobilephone!

© Image | fjwqss

WeChat Pay

The licence plate can be bound by WeChat Pay, which can pay the highway toll fee with free payment password. For safety, the money for highway toll fee could be deposited alone.

© Image |the Communist Youth League

The apparatus will scan your licence plate when leaving from highway and deduct money automatically. Then you will get a notification message.

© Image |the Communist Youth League

So far, Alipay made experiments in Henan province, and WeChat Pay made experiments in Shangdong province.

This is just the beginning! No Stop for Ticket but full automatic payment will be realized in all Chinese highway.

The modes of payment change again.

© Image | 52fuqing

The mobile payment revolution had made a lot of convenience for our daily life. But the change of mode of payment comes again.

Park

© Image | sohu

Nowadays, a large number of indoor parks no longer require MTC, and the fee deduction worked by scanning the license plates, as well as roadside parking.

Restaurant

© Image | Hexun News

 

Face-scanning Pay of Alipay applied to more restaurants.

Supermarket

© Image | China Visual

Unmaned store is set up in some provinces. Picking up the commodities and leaving, The money would be deducted from your Alipay or WeChat automatically.

Bank

© Image | Netease News

Face-scanning Pay can draw money without bank card or mobilephone.

Hospital

© Image |huaban

More and more hospitals push the automatical payment as long as binding Alipay.

Another revolution of mode for payment would arrive soon. The licence plate and face are the forerunners. 

© Image |the Communist Youth League

Source |the Communist Youth League

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HACOS,Business Services Solutions Master

According to the government report delivered recently, China will broaden market entry for foreign investors and take measures this year to solicit more foreign investment.

That means, more favorable policies concerning capital transfer and land use enjoyed by domestic investors will be given to foreign firms when they invest in central, western and northeastern regions.

1

Cut restrictive measures

 

The National Development and Reform Commission (NDRC) will amend certain restrictions on the so-called “Negative List” for foreign investment this year, stating sectors and businesses that are off limits to foreign investment, will be expanded nationwide.

The updated negative list being implemented in pilot free trade zones (FTZs), published by the State Council, cut dozens of restrictive measures in aviation manufacturing, waterway transportation, banking services and education, representing an easing of foreign capital access in China.

 

2

Expand foreign investment access

 

Foreign investment access to sectors like financial services, telecommunications, medical services, education, eldercare, and new-energy vehicles will be expanded, according to the government work report.

China will ensure that domestic and foreign firms compete on an equal footing by offering equal opportunities in the “Made in China 2025” strategy and projects involving science and technology, government procurement and standards setting.

3

Protect Intellectual Property Rights

 

China will strictly protect the Intellectual Property Rights and the legitimate interests of foreign firms by making new laws.

And ensure fair competition between domestic and foreign enterprises, with strict protection of intellectual property rights.

4

Grant tax deferral

 

Overseas investors will be granted tax deferral for the reinvestment of profit made in China, while procedures for setting up foreign-invested enterprises will be simplified, and business filing and business registration will be processed together in one go.

5

More implementation

 

A research fellow at the Chinese Academy of International Trade and Economic Cooperation regards that there is still much to be done to construct a world-class investment environment.

Facilitated investment procedures, more favorable policies concerning capital transfer and land use will be given to foreign firms when they invest in the central, western and northeastern regions of China.

However, we also have to realize that competition in China’s market has become much fiercer and the investment environment is becoming better and fairer.

“Market access is the most essential!”

For more shipping and logistics information, welcome to follow HACOSLogistics! Thanks for your support!

Source | Globaltimes

HACOS,Business Services Solutions Master

The lunar Chinese new year has been passed. Do you remember to submit the crucial Corporate Annual Reports? It not only affects your company’s operation but your personal credit in China!

What’s Corporate Annual Report?

Each year, every company in China must submit its annual report to the Industrial and Commercial Administration within a specific time period through an online system. 

And all the Annual Reports in this system are available to the public so that any company or individual can check any one of them online.

Why Should You Submit 

the Annual Report?

 

It’s stipulated that companies should submit their annual reports from January 1st to June 30th each year. Companies that fail to submit their Annual Reports within this period will be added to the “Poorly Performing Company List”. 

Companies that fail to submit their Annual Reports within this period will be added to the “Poorly Performing Company List”. 

 

And if the company has been on that list for 3 years, it will be moved to the “Illegal Company List”, which, will results in…

• A lifetime record of “Illegal Company List” that cannot be eliminated.

• No way to deal with business alternation or cancellation.

  

• Poor credit record that exerts negative influences on cooperation with other enterprises.

• Long-term limits on visa applying, departure and entry, air tickets buying or high-speed rail tickets buying, or luxury hotels booking (usually 3-star or above).

 

A bad credit, so many limits!!!

Get A Fine

 

According to the rules, corporation will incur a penalty or other forms of punishment if it  ↓↓↓

• Do not publicize Annual Report or related information of corporation based on rules within regulated period. The penalty is 5,000-30,000 RMB.

• Fails to submit Annual Report to the government. Those who refuse to make corrections or disobeying the government will be incur a penalty. The penalty is 100-1,000 RMB.

• Withholds the truth, practices frauds when publicizes information and Annual Report. The penalty is 10,000-30,000 RMB (for illegal enterprise), or 500-5,000 RMB (for individual business).

The corporate annual report is seen as an indicator of a company’s attitude towards credit, so if you fail to submit it on time, your company will be considered to have lost its credibility and will not be trusted elsewhere, which must be torturing for you.

Why Do I Have to Submit 

the Annual Report ASAP?

There are too many companies out there.

According to statistics from the State Administration for Industry & Commerce, the number of registered market entities around China has reached 80,000,000 in 2017, and is still increasing by 12,000 each day. 

This means that this year there will be almost 92,000,000 market entities involved in the annual report submission, which can be overwhelming for the online systems. 

 

Avoid the Peak Time

Companies should submit their annual reports from January 1st to June 30th each year, but most companies will choose to submit their annual  reports in the last 2 months of the specific period. At that time, the system will be so busy that it may get stuck or even crash. Please try to avoid the peak time.  

 

The Annual Report Requires Professional Quality Work.

The annual report includes your company’s performance, and financial data etc. Therefore, it’s better to assign this work to professionals in this field.  

Tips From HACOS

 

Besides annual reports, there are many other tasks every year, such as 

• Corporate income tax reports, 

• Annual foreign exchange inspection, 

• Annual joint inspection. 

If your company has the right to engage in import and export trade, you will also need to do the annual customs inspection; and if your company’s business scope includes advertising, then you’ll also need to do the annual advertisement inspection. 

All these annual inspections must be finished within the specified time period, otherwise, your company’s operation and credit will be affected in 2018. 

       

 

As the 2017 annual report submission has begun, HACOS would like to remind you —- please remember to do the annual report and all kinds of annual inspections, which are vital for your company’s credit!

 

HACOS,Business Services Solutions Master