RCEP entered into force on 1 January 2022; China implemented its rules of origin domestically through GACC Order No. 255, the Measures for the Administration of Origin of Import and Export Goods under RCEP. RCEP 于 2022 年 1 月 1 日生效；中国通过海关总署第 255 号令《海关〈区域全面经济伙伴关系协定〉项下进出口货物原产地管理办法》完成原产地规则的国内法转换。 Three types of origin proof are recognised: the origin certificate (issued by a visa authority), the origin declaration (issued by an authorised exporter), and the back-to-back origin proof (for transshipped goods). 认可三类原产地证明：原产地证书（签证机构签发）、原产地声明（经核准出口商开具）、背对背原产地证明（中转货物用）。 An authorised exporter (approved … RCEP Rules of Origin and Authorised Exporters: capturing tariff preferences through certificates and back-to-back proofsRead more
Foreign-Invested Insurance and Reinsurance Market Access in China
China has abolished foreign equity-ratio caps in life insurance, insurance asset management and related sub-sectors, and applies pre-establishment national treatment plus a negative list to foreign-invested insurers. 中国已取消人身险、保险资管等子行业的外资持股比例限制，并对在华外资保险机构全面实施准入前国民待遇加负面清单管理。 The 2026 “Several Measures to Accelerate the Building of the Shanghai International Reinsurance Centre” (NFRA + Shanghai, 16 June 2026) opens the Lin-gang area to foreign reinsurance acceptors and brokers through a registration and trading centre. 2026年6月16日国家金融监督管理总局与上海市人民政府联合印发《加快上海国际再保险中心建设的若干措施》，依托登记交易中心向境外再保险接受人、再保险经纪人开放临港新片区市场。 Foreign-invested insurance asset management has moved from approval to reality: Allianz’s wholly foreign-owned insurance asset … Foreign-Invested Insurance and Reinsurance Market Access in ChinaRead more
Shanghai’s 2026 Offshore Finance Action Plan: Pudong Licensing and Business Openings for Foreign Financial Institutions
The Action Plan for the Development of Offshore Finance in the Shanghai International Financial Centre was signed on 11 June 2026 by six authorities and formally released at the Lujiazui Forum on 17 June 2026. 《上海国际金融中心发展离岸金融行动方案》由六部门于2026年6月11日联合落款，并于2026年6月17日在陆家嘴论坛正式发布，随后联合印发。 The plan does not open a new offshore bank licence: it only commits to “study the feasibility” of establishing offshore banks, so the realistic route is applying for pilot business qualifications under an existing legal entity or branch. 该方案并未开放新的离岸银行牌照，仅提出”研究设立离岸银行等离岸金融机构的可行性”；现实路径是在现有法人主体或分行下申请试点业务资格。 Pudong New Area is the … Shanghai’s 2026 Offshore Finance Action Plan: Pudong Licensing and Business Openings for Foreign Financial InstitutionsRead more
Foreign Banks Entering China: Licensing Pathways for Representative Offices, Branches, and Wholly Foreign-Owned Banks
A foreign bank may enter China through three licensed routes: a representative office, a foreign bank branch, or a wholly foreign-owned bank (legal-person bank).外资银行可通过三条持牌路径进入中国：代表处、外国银行分行，或外商独资银行（法人银行）。 A representative office is a non-operating liaison post and cannot take deposits or make loans; it is the usual first step before upgrading to a licensed institution.代表处是非经营性联络机构，不得吸收存款或发放贷款；通常是在升级为持牌机构前的第一步。 A foreign bank branch needs at least RMB 200 million of allocated operating capital (RMB 300 million if it also runs RMB business), while a wholly foreign-owned bank requires … Foreign Banks Entering China: Licensing Pathways for Representative Offices, Branches, and Wholly Foreign-Owned BanksRead more
QFLP in 2026: How Foreign Capital Sets Up an Onshore RMB Private Equity Fund in China
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 measure exists; thresholds and quotas are local, and 2026 brought new rules in Shaanxi, Liuzhou, Wenzhou and Shanghai. 无统一全国办法，门槛与额度由地方设定；2026年陕西、柳州、温州、上海密集出台新规。 Shaanxi’s bar: RMB 100m filed fund scale, five years’ record for new managers, USD 5m net assets and a USD 1m … QFLP in 2026: How Foreign Capital Sets Up an Onshore RMB Private Equity Fund in ChinaRead more
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 with the local SAFE branch, and certain change registrations handled by the cooperating bank, streamline the setup process. 备案由主办企业所在地外汇局分局”一个窗口”对外办理，部分变更登记交由合作银行办理，简化了建池流程。 Eligibility thresholds are quantified: combined domestic members’ balance-of-payments scale of ≥ RMB 700 million equivalent, or combined domestic revenue ≥ RMB … 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 account, with the parent free to set the concentration ratio and manage RMB and FX in a single pool. 该机制允许集团将成员企业的外债与境外放款额度归集至同一账户，主办企业可自主决定归集比例，并以同一账户统筹本外币资金。 Foreign-invested enterprises registered in free-trade zones enjoy a halved access threshold, and a “single-window” foreign-exchange bureau branch handles filing, with … 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 balance its onshore and offshore RMB and foreign-exchange funds, run centralised current-account collection/payment and netting, and manage external-debt and outbound-lending quotas in one structure. 资金池允许跨国公司集中调剂境内外本外币资金、开展经常项目资金集中收付与轧差净额结算，并在同一架构内管理外债与境外放款额度。 Eligibility centres on scale: domestic members’ combined balance-of-payments scale ≥ RMB 7 billion, domestic members’ … 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 2026, codifying VAT as a statutory tax with rates of 13%, 9%, 6% and 0% by supply type.《增值税法》自2026年1月1日施行，将增值税上升为法律，按应税行为设13%、9%、6%、0%四档税率。 A non-resident enterprise without a permanent establishment pays 10% withholding tax on China-sourced income, often reduced by a tax treaty (e.g., 5% … 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 technological innovation imports during the 15th Five-Year Plan (2026–2030). 此次延续依据 2026 年发布的两份中央文件——”十五五”期间支持科技创新进口税收政策的通知及其管理办法。 Qualifying foreign-funded R&D centers may import scientific research, development and teaching supplies free of import customs duty and import-stage VAT and consumption tax. 符合条件的外资研发中心进口科学研究、科技开发与教学用品，免征进口关税及进口环节增值税、消费税。 Eligibility requires a minimum … Foreign R&D Centers’ Import Tax Concessions Extended to 2030 Under the 15th Five-Year PlanRead more