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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.
total: 9,596,960 sq km
land: 9,326,410 sq km
water: 270,550 sq km
Country Source
www.heritage.orgCOUNTRY
INDEX OF
ECONOMIC FREEDOM
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 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.
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.
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1 day CNY 400 on averageApply for an authorization to print or purchase financial invoices
Agency: Tax Authority
2 days No chargeRegister employees with the Social Welfare Insurance Center
Agency: Social Welfare Insurance Center
1 days No chargeSource : www.doingbusiness.org
Source : tradingeconomics.com
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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