Search Results for: business

China banking: non-financial institutions required to report large transactions from 1 January

On 25 June 2018, the Bank of China issued the Notice of the People’s Bank of China requirements for non-financial institutions to report large transactions (the Notice) effective from 1 January 2019. Below, we highlight the main takeaways from the Notice.

Who is required to report?

Any non-financial institution holding a payment business license, including WeChat and Alipay platforms.

Which transactions shall be reported?

Singular or accumulated transactions of more than RMB 50,000 or foreign currency equivalent to US$10,000 and above during a one-day […]

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China workplace: the importance of your employee handbook

Clear, legitimate and consistent internal company policies are an essential aspect of employee management tools in China. Whilst the labour contract governs the labour relationship between the employee and employer, the internal company policy establishes fundamental provisions to manage the daily routine, responsibilities and obligations of the employees. In practise, the internal company policies are formulated as the employee handbook and company procedures, which include items such as (but not limited to): overtime rules, code of conduct, performance and promotion […]

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Horizons hosts China Collaborative Group (CCG) advisors for Chinese corporate and tax law workshop

CCG in Suzhou.

Recently, Horizons hosted members of the China Collaborative Group (CCG) in Shanghai for a four-day workshop focused on Chinese corporate law and tax law knowledge. The programme was the second round of training for CCG members to learn the ins-and-outs of Chinese corporate legal and tax matters, as well as gain some keen insight into Chinese business practices from a cultural perspective.

Among the CCG participants in the workshop included advisors from the United Kingdom, Indonesia, Italy The […]

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