New business licence in Zhejiang Province. “五证合一, 一照一码“

businesslicence

“五证合一, 一照一码“  Five licenses in one, one identity one number.

The Zhejiang province government requires all businesses to get a new business licenses. This new business license will unify 5 different licenses and certificates to simplify the process:

  • business license
  • organizational code certificate
  • tax registration certificate
  • social insurance registration certificate
  • statistics registration certificate

All these will be combined into the new business license. All old licenses and certificates will be discontinued and can not be renewed any more.

The application form will need copies of all 5 certificates, the signature of the legal representative and company chop. The change of the business license may also trigger further need of registration renewal at other government offices, banks and insurances. A timely and thorough preparation is very important in these matters to avoid any disruptions of business operations.

Share Button

RMB included in the SDR basket

RMB is determined to be a freely usable currency and will be included in the SDR basket as a fifth currency RMBinSDRBasket

Share Button

5 tools to ensure compliance in your chinese subsidiary

  • Make sure to create a code of conduct as part of the Chinese staff handbook in China: all compliance requirements and the handbook must be adjusted to local legal requirement and customs

  • High ranking staff, for example the general manager or HR Manager, should conduct staff training to show importance to compliance

  • Larger companies should have compliance officers to supervise, train and improve compliance. But it must be clear that all staff has responsibility for compliance.

  • Zero-Tolerance-Policy for any violations of the Code of Conduct

  • Speak-Up, be public about all rules and regulation, try to create posters and information leaflets to ensure that everyone is aware of the importance of compliance

Share Button

How to protect your brand in China

How to protect your brand in China.

Share Button

IMF World Economic Outlook (WEO), April 2015

IMF World Economic Outlook (WEO), April 2015.

Share Button

Assessing China’s Corporate Sector Vulnerabilities

Assessing China’s Corporate Sector Vulnerabilities.

Share Button

Growing (Un)equal: Fiscal Policy and Income Inequality in China and BRIC+

Growing (Un)equal: Fiscal Policy and Income Inequality in China and BRIC+.

Share Button

China and the Global Economy: Creating New Ingredients for Growth, by Christine Lagarde, IMF Managing Director

China and the Global Economy: Creating New Ingredients for Growth, by Christine Lagarde, IMF Managing Director.

Share Button

IMF Welcomes Beijing’s Efforts to Boost Regional Investment – NYTimes.com

IMF Welcomes Beijing’s Efforts to Boost Regional Investment – NYTimes.com.

Share Button

山寨, shānzhài: Mountain Stronghold

Today, the word shanzhai can be used to describe anything that is underground, non-official and inexpensive with acceptable quality. Shanzaiism: a philisophical term denoting a style of innovation with a rural mind-set. Shanzhai (copycat). Shanzhai Ji: Copied Mobile Phone.

Share Button