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Shanghai has unveiled a comprehensive set of policies for 2025 aimed at driving employment, entrepreneurship, and sustainable development. These initiatives focus on supporting graduates, enabling industrial upgrades, promoting green consumption, and stimulating economic growth. Here's a detailed exploration of the city's strategic measures. Employment Promotion Policies To address the evolving job market, Shanghai emphasizes opportunities

Policy Snapshot On 20 June 2025, the State Council issued Decree No. 810, the "Regulations on Tax-Related Information Reporting by Internet Platform Enterprises," supported by State Taxation Administration Announcements No. 15 and 16 of 2025. For the first time, "platform operators" must file quarterly returns disclosing the identity and income of all sellers and gig

A new rule on pensions will come into effect starting in 2026. Following the ratification by the Chinese Government of the Agreement between Italy and China against double taxation on income, starting from January 1, 2026, pension income and similar payments made under a public welfare scheme of a Contracting State will be subject to

I. Trends in China's Auto Market China's automotive market is currently undergoing a significant transformation, characterized by both rapid diversification and a shift towards higher-end segments. The new energy vehicle (NEV) sector is experiencing robust growth, with pure electric and fuel cell vehicles emerging as key market drivers. NEVs are projected to be the primary

On March 6th, 2025, the State Taxation Administration of China issued Announcement No.6 of 2025, stating that the "Agreement between the Government of the People's Republic of China and the Government of the Italian Republic for the Elimination of Double Taxation and the Prevention of Tax Evasion with Respect to Taxes on Income" (hereinafter referred

In 2025, China introduced a new tax credit policy aimed at further encouraging foreign-invested enterprises to reinvest their profits in domestic projects. This policy was jointly issued by the Ministry of Finance, the State Taxation Administration, and the Ministry of Commerce, with the announcement number being Announcement No.2 of 2025. It came into effect on

Introduction China's State Council has introduced a new regulation mandating internet platform companies to report tax-related information of businesses and workers on their platforms. The rules, comprising 14 articles, aim to enhance tax compliance and administration while promoting fairness in the digital economy. This article explores the implications of these rules and their potential impact

Managing uninvoiced revenue is a critical yet often overlooked aspect of corporate financial operations. Many businesses encounter situations where invoices are not issued for specific transactions, but this does not exempt the revenue from tax obligations. Ensuring compliance with tax regulations for such revenue is essential for sustainable business growth. Understanding Uninvoiced Revenue Uninvoiced revenue

Recently, the earnings of senior executives from major domestic companies in their personal overseas stock accounts have attracted the attention of the tax authorities. This situation has also raised questions among long-term overseas investors: "Do the earnings from my overseas stock holdings need to be taxed?" Today, we will delve deeper into issues related to

As annual IIT declaration filing falls due this month – have you completed yours? – our company regularly assists clients in the completion of the relevant procedure. Recently PHC Advisory professionals have successfully handled a highly representative individual income tax final settlement case for a foreign employee. After completing the declaration for the 2023 tax

China has introduced updated measures to help businesses remove publicized abnormal operation records from the National Enterprise Credit Information Publicity System (NECIPS). Announced by the State Administration for Market Regulation (SAMR) on May 27, 2025, and effective from May 1, 2025, these rules aim to assist companies in repairing their credit, improving transparency, and fostering

In the enterprise resource planning (ERP) field, international giants such as Oracle and SAP have long dominated China's high-end market. However, in recent years, this landscape is quietly changing with the successful launch and widespread application of Huawei Technologies' self-developed MetaERP system. Huawei MetaERP, with its strong technical strength, highly customizable capabilities and excellent security