香港商業資訊

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Grasp the New Opportunities of the Chinese Market

Despite the increase in operating costs in China, India, Brazil and other emerging economies will raise the further competition, China's huge consumer market, the rapid pace of change, and the excellent performance in response to the fiscal crisis will still bring confidence for the global investment. According to the World Investment Prospects Survey published by the United Nations Trade and Development Conference, in the duration of 2011-2013, China is still the first choice for multinational corporations expansion in overseas and its principal source of income for the country.
At present, China's spending power and labor costs are significantly enhanced and China is no longer just low-cost factory of the world and service outsourcing countries. "Cheap China" is changing to "Consumer China", while taking challenges to multinational corporations, there are many additional opportunities for multinationals.
1. From the "12th Five-Year Plan" of China, we can see that, compared to the pure pursuit of quantity, the recent Chinese government attaches more importance to the quality of foreign investment. The Chinese government encourages the development of high-tech, clean energy and services industries, and have been identified Beijing, Shanghai, Shenzhen and other cities as cloud computing service innovation advance pilot, it will bring huge business opportunities for multinationals.
2. The operating costs dramatically rise today in the coastal cities. The advantages of the western region in the cost of labor and infrastructure are increasingly obvious. At the same time, the Chinese government has also increased the tilting policy of the western region, according to the relevant provisions of the Chinese tax authorities, during January 1 2011 to 31 December 2020, meet the requirements of the enterprises in the western region will be in accordance with 15 % of the corporate income tax rate. The implementation of the preferential initiatives will further reduce the operating costs of multinational companies in the western region.
3. The reform of levying VAT tax instead of business tax, has been primarily trying in Shanghai in January this year, and will expand around Beijing, Guangdong, Anhui and the other eight provinces and cities at the end of the year in batches. From Shanghai pilot situation, the changes from business tax to VAT tax effective solute the problem of double taxation, and sharply reduce the corporate tax burden, it's beneficial to the long-term development of the multinational corporations.
In the past 20 years, China's share of global GDP from 4% in 1990 rose to 14% in 2012, and we believe that the future of China's GDP share will be further expanded.


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