New startup visa introduced in Shanghai
Shanghai’s Public Security Bureau introduced, in May 2018, a new “Private Residence Permit (Entrepreneurship)”, most commonly known as “Business Startup visa”, which enables foreign entrepreneurs to live in China while launching their innovative business in Shanghai.
China Individual Income Tax Reform
The Chinese government has recently released the draft amendments to the Individual Income Tax (“IIT”) Law to the public for consultation. The proposed amendments comprise broad changes to the IIT system and the salient proposed changes are as follows: