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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