Foreign Direct Investment in China
China’s economic reforms were designed to increase consumerism and serve a growing middle class, but foreign investment can still be a constantly changing process. Depending on the desired market, access can be easily achieved, or completely refused - and each case must be considered on an individual basis. That said, many of China’s industries are benefiting international business, including products from a range of manufacturing sectors, and the mining industry. Initiatives like the establishment of the Shanghai Free Trade Zone represent a bold step by the Chinese government to introduce new levels of FDI to the country.
Registering a Company and Establishing an Entity in China
The company is required to have a legal entity established in order to process a payroll. They require an entity before they sign the labour contract with the employees.
Foreign employers can register the following entities in China:
-Representative Office (RO): Registration time is around two months.
-Wholly Foreign Owned Enterprise (WFOE): This is a form of limited liability Company in China. The registration time is around four months.
Business Banking in China
It is mandatory to make payments to both employees and the authorities from an in-country bank account. In general, the opening hours for banks in China are 0900-1100 and 1300 -1500. Banks are closed on Saturday and Sunday.
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