Live and Invest in China

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ChinaYangShuo

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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China at a Glance

Population 1,338,612,968 (July 2010 est.)
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
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 Airchina
www.airchina.com.cn
Preferred Contact

 

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Live & Invest Overseas

Live and Invest Overseas is the world's savviest source for top opportunities to live better, retire in style, invest for profit, do business, and own real estate overseas. Established in 2008, the Live and Invest Overseas' editors and correspondents have more experience researching and reporting on top opportunities for living well, investing for profit, doing business, and owning real estate around the world than anyone else you'll find.

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