Population  1.322 trillion (July 2007) Gross Domestic Product (GDP)  $7.043 trillion (2007) GDP Per Capita  $5,300 (2007) Inflation Rate  4.7% (2007) Currency  Chinese Yuan (CNY); officially known as Renminbi (RMB) Exchange Rate Versus U.S. Dollar   6.998 yuan = 1 U.S. dollar (April 2008) Language  Standard Chinese or Mandarin; various dialects Capital  Beijing Population of Capital City  17,430,000 (2007) 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  5 - 45% Property Tax  $0.09 to $3.89 per square meter  Capital Gains Tax  20 - 60% Inheritance Tax  0%  Rental Income Tax  7.5-10.5% (for non-residents) Transfer Tax  0.1% Sales Tax  17% 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.amcham-chin.com China Resources Building, Suite 1903 No.8 Jianguomenbei Ave. Beijing 100005 Tel. 86-10-8519-1920 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  Air China  www.airchina.com.cn Preferred Contact