A round-up of the latest business updates from Asia published by our international partner Dezan Shira & Associates.
Exporting food products to China – a step-by-step guide
2016 saw China become the world’s second largest buyer of imported food and beverage (F&B) after the US, and total imports in 2018 exceeded US$110 billion.
The largest F&B exporters to China were Brazil, USA, Canada, Australia and New Zealand but, overall, 2,283 kinds of imported foods from 176 countries and regions are currently incorporated into China’s market access management system.
In this article, Dezan Shira & Associates introduces a few of the many certifications, regulations and procedures required to export food products to China.
China releases official 2020 holiday schedule
China has released its official holiday schedule for 2020. This includes the dates of the two traditional, week-long holidays for Spring Festival (also known as Chinese New Year) and the Mid-Autumn Festival.
This report provides helpful information for foreign human resource managers. For example, it is useful to note that Saturdays and Sundays can often be marked as additional official work days to compensate for long holiday breaks.
Private companies in China have the right to determine their own work schedules so long as the official holiday calendar is maintained.
Vietnam ranks 70/190 for Ease of Doing Business
This year’s Doing Business 2020 report from the World Bank places Vietnam at number 70 among 190 economies for ‘ease of doing business’.
This marks a drop from last year’s position but the country’s overall score has improved.
Vietnam achieved it’s highest ranking in the following areas of assessment: “Getting credit” and “Paying taxes”, coming in 25th place among all the economies.
Advance income tax in India
Any person in India whose estimated tax liability in a financial year is more than Rs 10,000 (US$145) must pay income tax in advance. This system applies to all taxpayers, whether they are salaried employees, freelancers or businesses.
Asia Briefing produces hundreds of business intelligence articles, reports and guides, underpinned by Dezan Shira’s expertise in market entry and business operation in China and South Asia.