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China, officially the People's Republic of China, is a country in East Asia and is the world's most populous country, with a population of around 1.428 billion in 2017. Covering approximately 9,600,000 square kilometers, it is the third-largest or the fourth-largest country by area.


Country Name China
Location Eastern Asia, bordering the East China Sea, Korea Bay, Yellow Sea, and South China Sea, between North Korea and Vietnam
Map Reference : Asia

total: 9,596,960 sq km

land: 9,326,410 sq km

water: 270,550 sq km

Capital Beijing
Language Standard Chinese or Mandarin (official; Putonghua, based on the Beijing dialect), Yue (Cantonese), Wu (Shanghainese), Minbei (Fuzhou), Minnan (Hokkien- Taiwanese), Xiang, Gan, Hakka dialects, minority languages (see Ethnic groups entry) note: Zhuang is official in Guangxi Zhuang, Yue is official in Guangdong, Mongolian is official in Nei Mongol, Uighur is official in Xinjiang Uygur, Kyrgyz is official in Xinjiang Uygur, and Tibetan is official in Xizang (Tibet)
Population 1,384,688,986 (July 2018 est.)
Ethnic Groups Han Chinese 91.6%, Zhuang 1.3%, other (includes Hui, Manchu, Uighur, Miao, Yi, Tujia, Tibetan, Mongol, Dong, Buyei, Yao, Bai, Korean, Hani, Li, Kazakh, Dai, and other nationalities) 7.1% (2010 est.) note: the Chinese Government officially recognizes 56 ethnic groups
Religion Buddhist 18.2%, Christian 5.1%, Muslim 1.8%, folk religion 21.9%, Hindu < 0.1%, Jewish < 0.1%, other 0.7% (includes Daoist (Taoist)), unaffiliated 52.2% (2010 est.) note: officially atheist
Climate extremely diverse; tropical in south to subarctic in north
Time Difference UTC+8 (13 hours ahead of Washington, DC, during Standard Time)
Country Code 86
Internet Country Code .cn
Currency Renminbi yuan (RMB)





China’s economic freedom score is 58.4, making its economy the 100th freest in the 2019 Index. Its overall score has increased by 0.6 point, with higher scores on judicial effectiveness and labor freedom outpacing a sharp drop in fiscal health. China is ranked 20th among 43 countries in the Asia–Pacific region, and its overall score is below the regional and world averages. Increasing tensions in the U.S.–China economic relationship have heightened business uncertainties, and despite still impressive growth rates, the government adopted looser economic policies in 2018 to mitigate mounting risks to future growth. China remains “mostly unfree.” Nontransparent state-owned enterprises dominate the financial sector and many basic industries. The official ideology of “Socialism with Chinese Characteristics” has chilled liberalization, heightened reliance on mercantilism, raised bureaucratic hurdles to trade and investment, weakened the rule of law, and strengthened resistance from vested interests that impede more dynamic economic development.


Communist Party General Secretary Xi Jinping’s regime has produced no significant free- market reforms since taking power in 2013. Xi has centralized his authority, ousted internal political enemies, and backed authoritarian policies to tighten control of civil society. China is the world’s second-largest economy and biggest exporter, but its per capita income is still below the global average. A slowdown in economic growth, which may be more severe than official statistics indicate, poses serious challenges for a government whose legitimacy depends increasingly on its ability to raise living standards. Much will depend on how well Xi’s new ideological economic framework translates into government policy. Xi’s “China 2025” program to achieve Chinese dominance of high-tech sectors has engendered pushback from global rivals.

Foreign Investment

Foreign Direct Investment

Foreign direct investment into China rose 2 percent year-on-year to USD 69.7 billion in the df-bocolorT3 half of 2019, or 7.2 percent to CNY 478.33 billion. For June only, FDI grew 3 percent to USD 16.13 billion, or 8.5 percent to CNY 109.27 billion. Foreign Direct Investment in China averaged 445.17 USD HML from 1997 until 2019, reaching an all-time high of 1349.66 USD HML in December of 2018 and a record low of 18.32 USD HML in January of 2000.

Ease of Doing Business

China is ranked 46 among 190 economies in the ease of doing business, according to the latest World Bank annual ratings. The rank of China improved to 46 in 2018 from 78 in 2017. Ease of Doing Business in China averaged 83 from 2008 until 2018, reaching an all-time high of 99 in 2012 and a record low of 46 in 2018.

Foreigner Incorporation

Starting a Business

Legal form Limited Liability Company
Paid-in minimum capital requirement CNY 0
City Covered Shanghai

No Procedures Time to Complete Associated Costs

Register the company and apply for a Business License Certificate

Agency: SAIC (Single window)

5 days No charge

Make a company seal

Agency: Seal maker

1 day CNY 400 on average

Apply for an authorization to print or purchase financial invoices

Agency: Tax Authority

2 days No charge

Register employees with the Social Welfare Insurance Center

Agency: Social Welfare Insurance Center

1 days No charge

Source :

Tax system

Only Corporate Tax and Value Added Tax

Taxes Last Previous Highest Lowest Unit
Corporate Tax Rate 25.00 25.00 33.00 25.00 %
Personal Income Tax Rate 45.00 45.00 45.00 45.00 %
Sales Tax Rate 13.00 16.00 17.00 13.00 %
Social Security Rate 48.00 48.00 48.00 48.00 %
Social Security Rate For Companies 37.00 37.00 37.00 37.00 %
Social Security Rate For Employees 11.00 11.00 11.00 11.00 %

Source :

The Corporate Income tax rate is a tax collected from companies. Its amount is based on the net income companies obtain while exercising their business activity, normally during one business year.

The Personal Income Tax Rate is a tax collected from individuals and is imposed on different sources of income like labor, pensions, interest and dividends.

The Sales Tax Rate (VAT) is a tax charged to consumers based on the purchase price of certain goods and services.

The Social Security Rate is a tax related with labor income charged to both companies and employees.

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