6 Feb. 2009

China, in terms of financial infrastructure


China, in terms of financial infrastructure, is a unique country. The Chinese people hold a different social and economic tradition that has helped to create a secure buffering environment for any financial reforms and has helped in preventing the full impact of the crisis.

2008 was a Critical Year, 1st of January 2008 China announced the successful unification of the domestic and foreign corporate income tax laws. A unified rate of 25% was established, although lower rates are available for high-tech and qualified small profit companies.

Anti-tax avoidance rules have been enhanced & the demand for Chinese goods overseas has waned and due to this China will be able to fit in alongside other international countries more easily, essentially bringing China to a higher level of standards.