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Top related persons:
Kiran Patel - 2 Joe Cash - 2 Sam Holmes - 2 Premier Li Qiang - 1 Xi Jinping's - 1 Noah Fraser - 1 it's - 1 Li Qiang - 1
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BEIJING China Sichuan Chaozhou Shanghai
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China - Britain Business Council - 2 Thomson - 2 Premier - 1 China's Ministry of Commerce - 1 Canada China Business Council - 1 Communist Party - 1

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2 mentions found


☆ China extends tax breaks for foreign workers until 2027
  + stars: | 2023-08-29 | by ( ) www.reuters.com   time to read: +1 min
BEIJING, Aug 29 (Reuters) - China will extend preferential tax policies for foreign nationals working in the country through to the end of 2027, the finance ministry said on Tuesday, in a boon to foreign firms struggling to attract talent post-COVID. The government proposed scrapping the provision of non-taxable allowances for foreign workers in 2022, but decided to extend the scheme on a review basis until the end of this year. "This announcement to extend the existing individual income tax regime is a genuine statement of commitment from the Chinese government to the multinational companies operating here." As China's economy slows, authorities have struggled to revive foreign investment with global firms unimpressed by new incentives they say fall far short of sweeteners once used to attract overseas money. Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.
Persons: Kiran Patel, Joe Cash, Sam Holmes Organizations: China - Britain Business Council, Thomson Locations: BEIJING, China
☆ Analysis: China's pitch to foreign investors falls flat as incentives dwindle
  + stars: | 2023-07-24 | by ( Joe Cash | Thomson Reuters | Joe Cash Reports On China S Economic Affairs | ) www.reuters.com   time to read: +5 min
BEIJING, July 24 (Reuters) - China is struggling to revive foreign investment in its financially battered cities and provinces as foreign firms remain wary of political risks and new incentives fall far short of sweeteners once used to attract overseas money. With their coffers depleted after an economically bruising pandemic and property crisis, local authorities have been racing to find new revenue sources, with foreign investment particularly coveted. He cited five meetings between their London office and delegations from Chinese local governments in late June. PART OF THE SYSTEMLocal authorities carry out a delicate balancing act when courting foreign investment and dealing with critical questions about Xi's security policies. "As far as the macro situation is concerned, local governments can't do anything to reassure foreign investors.
Persons: Premier Li Qiang, Kiran Patel, Xi Jinping's, Noah Fraser, it's, Li Qiang, Agatha Kratz, Joe Cash, Brenda Goh, Sam Holmes Organizations: Premier, China - Britain Business Council, China's Ministry of Commerce, Canada China Business Council, Communist Party, Thomson Locations: BEIJING, China, Sichuan, Chaozhou, Shanghai
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