Nov 12, 2024 · Starting January 1, 2025, there will be some notable changes to public holidays compared to 2024. The total number of holidays for all citizens will increase by two days, with one additional day added to both the Spring Festival and Labor Day. The State Council has also decided to optimize the holiday arrangements further.

On November 7, 2024, the General Administration of Customs (GAC) released statistics showing that China’s goods exports in October far exceeded expectations. Exports increased by 11.2 percent year-on-year in RMB terms and 12.7 percent in dollar terms, marking the largest expansion since March 2023.

Overview of China’s 2025 Tariff Adjustment Plan. In 2025, China will impose tariffs on 8,960 tax items.; Provisional import tariff rates: Starting from January 1, 2025, 935 items will be subject to provisional import tariff rates, which are lower than the most favored nation (MFN) tariffs. Tariff reduction: Starting from January 1, 2025, China will reduce tariffs for relevant products to ...

Nov 6, 2024 · Encouragingly, the first nine months of 2024 have demonstrated signs of recovery, with China attracting RMB 640.6 billion (US$90.26 billion) in foreign investment. Notably, there has been an 11.4 percent increase in new foreign-invested enterprises (FIEs), with high-tech manufacturing, medical equipment, and professional technical services experiencing …

Oct 24, 2024 · China’s economy faced significant headwinds throughout the third quarter (Q3) of 2024, yet still managed to avoid a severe downturn thanks to an unexpected rebound in September.While economic indicators in July and August pointed toward a potential contraction—largely driven by a persistent slump in the real estate sector, weak consumer …

Nov 26, 2024 · China is reshaping the global energy landscape, setting its sights on an ambitious transformation driven by renewable energy. In its latest move, on October 30, 2024, the Chinese government unveiled the Guiding Opinions on Vigorously Implementing the Renewable Energy Substitution Initiative (hereinafter the “new renewable energy plan”) to accelerate renewable …

Apr 19, 2023 · In March 2023, the All-China Federation of Trade Unions (ACFTU) issued its quinquennial labor survey, titled the Ninth National Workforce Survey (the “ACFTU survey”). The ACFTU survey, which was conducted from January to September 2022, gathers a wide range of data on China’s labor market, including the size and make-up of its workforce, changing …

On August 18, 2023, the Ministry of Commerce (MOF) and State Taxation Administration (STA) jointly released the Announcement on the Continuation of Implementation of Individual Income Tax Preferential Policies Such as for Foreign Nationals’ Benefits (MOFCOM STA Announcement [2023] No.29).. The Announcement officially extended the preferential individual income tax …

Dec 17, 2024 · The National Immigration Administration (NIA) of China has announced a major expansion and optimization of its visa-free transit policy, effective December 17, 2024.Under the upgraded policy, eligible foreign travelers transiting through China can now stay for up to 240 hours (10 days), a significant extension from the previous 72-hour and 144-hour visa-free …

Jan 22, 2025 · The manufacturing industry is a cornerstone of China’s economy and a crucial sector underpinning the global economy. In 2023, the manufacturing sector’s added value accounted for 26.2 percent of China’s total GDP, underscoring its vital role in the nation’s economic structure.