In a landmark decision, China has announced a visa-free entry policy for citizens of six European countries – France, Germany, Italy, the Netherlands, Spain – and Malaysia, signaling a significant shift in its international engagement strategy. This policy, effective from December 1, 2023, to November 30, 2024, allows holders of ordinary passports from these nations to enter China for various…
The latest economic indicators from China provide an optimistic picture of its economic landscape. Declining producer prices, stable consumer inflation, and a modest drop in foreign trade all point to ongoing stabilization. Key Points Producer Price Index (PPI) declined by 2.5% year-on-year in September, improving from a 3% decline in August. Consumer Price Index (CPI) remained flat year-on-year but rose…
In the third quarter of 2023, Small and Medium-sized Enterprises (SMEs) in China have shown signs of recovery, as indicated by a marginal increase in the SME Development Index to 89.2. Concurrently, China’s Golden Week saw a remarkable surge in consumer spending, notably in tourism and retail sectors. Key Points SME Development Index: The Q3 2023 Index increased to 89.2…
China has been making efforts to ease travel restrictions and attract international visitors. Below are the critical points about Chinese visa policies for foreign travelers, including regional exemptions and updated policies as of October 2023. 72/144-Hour Visa-Free Transit Eligibility: Citizens of specific European countries, America, Oceania, and Asia are eligible Requirements: A valid international travel document and a connecting ticket…
China’s Economy in H1 2023 demonstrated strength and resilience, showcasing a 2.1% YoY growth in foreign trade and an impressive 3.7% YoY increase in exports. The ASEAN bloc retained its position as China’s primary trading partner, underlying the strategic importance of this regional bloc in China’s foreign trade landscape. Remarkably, the nation witnessed a 21.6% YoY surge in automobile exports, primarily driven by the booming new energy vehicles (NEVs) market. Meanwhile, the country experienced mild inflation, with the Consumer Price Index (CPI) remaining flat in June 2023. The Producer Price Index (PPI), however, saw a notable decline of 5.4% YoY in June, the sharpest drop in over seven years. Despite this, China emerged as the world’s leader in IPO activity, and Shanghai saw a significant boost in consumer confidence, pointing towards an optimistic economic future.
Foreign Invested enterprises in China have been steadily increasing. In Q1 January-March, 11,000 new foreign-invested companies were established, a 7.6 percent YoY increase according to the State Administration of Market Regulation. A notable uptick in the services sectors, where 91.9 percent of the new enterprises were established. In March alone, China saw 4,818 new foreign-invested enterprises established, surging 44 percent…
Brands from Belarus have been increasingly expanding into the Chinese market, leading to a 33% year-on-year growth in trade between China and Belarus, surpassing $5 billion in 2022. Main export products from Belarus to China include potassic fertilizers, frozen bovine meat, dairy products, raw sugar, and poultry meat, among others. Despite this growth, Belarusian brands face challenges with counterfeit products on Chinese…
China Issued 2023 VAT Policies and Exemptions for Small Businesses. This includes an exemption for small businesses with monthly sales of 100,000 yuan or less.
China revised Foreign Trade Law and canceled the need for foreign trade operators to file and register with the commercial authorities.
