QFLP turns offshore capital into onshore RMB fund and equity investment, via a qualification approval and an FX supervision procedure. QFLP经资格审批与外汇资金监管程序，将境外资本兑换为人民币，投资境内基金与股权。 Two tiers: a pilot fund management enterprise plus the pilot fund; both may be wholly foreign-owned. 两层结构：试点基金管理企业与试点基金，均可外商独资设立。 No national … QFLP in 2026: How Foreign Capital Sets Up an Onshore RMB Private Equity Fund in ChinaRead more
财税 / Finance & Tax
Multinational CNY-FX Cross-Border Cash Pooling Goes Nationwide: What Foreign-Invested Groups Need to Know
The PBoC and SAFE have extended the pilot policy for cross-border centralized operation of domestic and foreign-currency funds by multinational corporations to the entire country, effective 14 September 2026. 中国人民银行与国家外汇管理局已将跨国公司本外币跨境资金集中运营试点政策推广至全国，自 2026 年 9 月 14 日起施行。 A single “one-window” filing … Multinational CNY-FX Cross-Border Cash Pooling Goes Nationwide: What Foreign-Invested Groups Need to KnowRead more
Nationwide Rollout of RMB-FX Cross-Border Cash Pooling for Multinationals (2026)
China has extended its RMB-FX cross-border cash-pooling regime to the entire country, lowering the barrier for small and mid-sized multinational groups to centralise treasury operations. 中国已将本外币跨境资金集中运营业务推广至全国，降低了中小型跨国集团统筹资金管理的门槛。 The scheme lets a group consolidate member firms’ external-debt and outbound-lending quotas into one … Nationwide Rollout of RMB-FX Cross-Border Cash Pooling for Multinationals (2026)Read more
China’s Nationwide Pooling of Foreign-Invested Groups’ Cross-Border Funds (2026)
On 26 December 2025, the People’s Bank of China and SAFE issued the *Notice on Cross-Currency Cash Pooling for Multinational Companies* (Yin Fa [2025] No. 251), extending the integrated RMB/foreign-exchange pool nationwide. 2025年12月26日，中国人民银行、国家外汇管理局发布《关于跨国公司本外币一体化资金池业务有关事宜的通知》（银发〔2025〕251号），将本外币一体化资金池业务推广至全国。 The pool lets a multinational concentrate and … China’s Nationwide Pooling of Foreign-Invested Groups’ Cross-Border Funds (2026)Read more
The Main Taxes on a Foreign-Invested Enterprise in China and the 2026 VAT Law in Practice
A foreign-invested enterprise is generally taxed like a domestic one: a 25% corporate income tax (CIT) rate, with 15% for high-tech and 20% (on a reduced base) for small low-profit firms.外商投资企业原则上与内资同税：企业所得税基准税率25%，高新技术企业减按15%，小型微利企业减计所得后按20%。 The Value-Added Tax Law took effect on 1 January … The Main Taxes on a Foreign-Invested Enterprise in China and the 2026 VAT Law in PracticeRead more
Foreign R&D Centers’ Import Tax Concessions Extended to 2030 Under the 15th Five-Year Plan
Jilin Province has extended the validity and application deadline of its foreign R&D center import-tax qualification review rules to 31 December 2030. 吉林省已将外资研发中心进口税收资格审核办法的政策有效期及申报截止日期统一延长至 2030 年 12 月 31 日。 The extension derives from two 2026 central-government instruments supporting scientific and … Foreign R&D Centers’ Import Tax Concessions Extended to 2030 Under the 15th Five-Year PlanRead more
High-Tech Enterprise Status and the 15% Preferential CIT Rate for Foreign-Invested Firms (2026)
A “high-new technology enterprise” (HNTE) recognised in China pays enterprise income tax at a reduced 15% rate instead of the standard 25% — and foreign-invested firms are fully eligible if they meet the same criteria. 经认定的”高新技术企业”按15%的优惠税率缴纳企业所得税，而非标准25%；外商投资企业满足同等条件即具备资格。 Eligibility hinges on core … High-Tech Enterprise Status and the 15% Preferential CIT Rate for Foreign-Invested Firms (2026)Read more
Corporate Income Tax Incentives for Encouraged and Western-Development Industries: A 2026 Guide for Foreign-Invested Enterprises
Enterprises in western China whose main business falls under an encouraged industry pay corporate income tax (CIT) at a reduced 15% rate, against the standard 25% rate — a policy now extended through 31 December 2030. 西部地区主营业务属于鼓励类产业的企业，减按 15% 的税率征收企业所得税（标准税率为 25%），该政策已延续至 … Corporate Income Tax Incentives for Encouraged and Western-Development Industries: A 2026 Guide for Foreign-Invested EnterprisesRead more
Tax Incentives for Foreign Investors’ Onshore Reinvestment in China (2026)
China operates a two-track tax incentive for foreign investors that recycle China profits into onshore direct investment: a deferral (no withholding tax until exit) and a 2025–2028 tax credit of up to 10% of the reinvested amount. 中国对外国投资者将中国利润再投入境内直接投资实行双轨税收优惠：递延纳税（退出前不征预提所得税）与2025—2028年按再投资额最高10%的税收抵免。 The deferral … Tax Incentives for Foreign Investors’ Onshore Reinvestment in China (2026)Read more
China’s First Cross-Border Tax Industry Guide: International Transport Compliance Roadmap
The State Taxation Administration released China’s first industry-specific cross-border tax guide on 31 July 2026, dedicated to international transport. 国家税务总局于 2026 年 7 月 31 日发布首个专门针对跨境运输的税收行业类指引。 The guide is split into an “inbound” volume and an “outbound” volume, distinguishing maritime, … China’s First Cross-Border Tax Industry Guide: International Transport Compliance RoadmapRead more