ChinaYangShuo

Perhaps The Cheapest Place On Earth To Think About Becoming A Foreign Retiree

China is the land of contrasts. High-rise towers—signs of a prosperous middle-class and of an overly ambitious (even hubristic) ruling elite—are built by the millions of migrant rural workers, who live on an income of US$50 per month. Geography is not an exception: With a size roughly equal to that of U.S., the country hosts arid deserts and the Himalaya Mountains, as well as fertile plains and some of world's longest rivers. Coastal and southern cities have mild weather year-round, while the inland cities farther to the north typically experience dry, cold winters and muggy, hot summers.

As a foreigner, you will feel pampered in China. It may be your hair, or the color of your eyes, or the fact that you speak English…any of these will turn heads. It may well happen that you are offered the seat on a bus. You are bound to find here friendly, hospitable and, generally speaking, well-educated people.

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Population 1,343,239,923 (July 2012 est.)
Gross Domestic Product (GDP) $11.29 trillion (2011 est.)
GDP Per Capita $8,400 (2011 est.)
Inflation Rate 5.4% (2011)
Currency Chinese Yuan (CNY); officially known as Renminbi (RMB)
Exchange Rate Versus U.S. Dollar 6.455 yuan = 1 U.S. dollar (2011 est.)
Language Standard Chinese or Mandarin; various dialects
Capital Beijing
Population of Capital City 12,214,000 (2012)
Time Zone GMT plus 8
Seasons Most of mainland lies in Temperate zone:four seasons. Diverse climate range from subarctic in mountains to tropical in south to desert
International Dialing Code 86
Electricity 220V / 50 Hz; Plug Type: A(U.S. style), I , G
System of Government Socialist Republic
Name and Party Affiliation
of Current Leader
Hu Jintao, Communist Party
Income Tax Rate for Residents 3 - 45%
Property Tax 12% for renting, 4% for leasing
Capital Gains Tax 20 - 60%
Inheritance Tax No
Rental Income Tax 20%
Transfer Tax 0.1%
Sales Tax 17%, 13% applies to certain food and goods.
Restrictions on Foreign
Ownership of Property
Residential property purchases must be for personal use or habitation; large foreign property investments over US$10 million must hold capital of 50% of total investment
Local Chamber of Commerce http://english.ccpit.org/
No. 1 Fuxingmenwai Street Beijing 100860
Tel. 86-10-8807-5716
American Chamber of Commerce www.amchamchina.org
The Office Park, Tower AB,
6th floor No. 10 Jintogxi Road,
Beijing 100020, PRC
Primary Exports Machinery, electrical products, data processing equipment, apparel, textile, steel, mobile phones
Residency and Visa Requirements Tourist Visa: $130 for American citizens, $30 for other countries; 30 days duration
Residency: Teaching and work visas; permanent residency established for various individuals, including those who make a positive contribution to China, financially or culturally.
Citizenship: renouncement of foreign citizenship, China as your registered place of permanent residence, and willingness to abide by China's constitution and laws
Special Benefits for Foreign Residents or Retirees None
National Airline Airchina
www.airchina.com.cn

 

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