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
cross-border finance
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
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
Related-Party Disclosure and Contemporaneous Documentation for Foreign-Invested Enterprises (2026)
Any FIE that has related-party transactions, or meets the country-by-country reporting test, must file the annual related-party transaction return (the “Associated Party Business Reporting Form”) by 31 May. 凡是存在关联交易或符合国别报告条件的外商投资企业，均须于5月31日前报送年度关联业务往来报告表（关联申报）。 Three contemporaneous-documentation files — master file, local file, and specified-matters file … Related-Party Disclosure and Contemporaneous Documentation for Foreign-Invested Enterprises (2026)Read more
Corporate Tax Residency and CFC Rules for Foreign-Invested Enterprises in China (2026)
A company incorporated in China, or incorporated abroad but effectively managed in China, is a Chinese tax resident and is taxed on its worldwide income, not merely its China-source income. 在中国境内成立，或在境外成立但实际管理机构在中国境内的企业，为中国税收居民，就全球所得纳税，而非仅就中国境内所得纳税。 The “place of effective management” test looks at where … Corporate Tax Residency and CFC Rules for Foreign-Invested Enterprises in China (2026)Read more
Tax Inspection and Voluntary Disclosure for Foreign-Invested Enterprises in China: Handling a SAT Audit and Self-Correction
A tax inspection of a foreign-invested enterprise usually begins with a “double-random, one-open” (双随机、一公开) selection, not a tip-off. 外资企业的税务稽查通常始于”双随机、一公开”的抽查选案，而非举报。 Self-correction before the focused inspection is the cheapest exit: truthful disclosure, voluntary back-payment of tax and late fees draws mitigated, reduced … Tax Inspection and Voluntary Disclosure for Foreign-Invested Enterprises in China: Handling a SAT Audit and Self-CorrectionRead more
China’s Talent IIT Preferential Zones in 2026: Hainan, Greater Bay Area and Hengqin for Foreign and HK/Macao/Taiwan Staff
China caps the individual income tax burden for qualifying foreign and Greater Bay Area, Hainan and Hengqin talents at 15% through a refund or exemption of the tax above that ceiling, not by lowering the statutory rates. 中国通过退还或免征超过 15% 上限的税额（而非降低法定税率），为符合条件的外籍及粤港澳大湾区、海南、横琴人才封顶实际个税负担于 … China’s Talent IIT Preferential Zones in 2026: Hainan, Greater Bay Area and Hengqin for Foreign and HK/Macao/Taiwan StaffRead more