Understanding U.S. Taxes When Living Abroad
What do the world’s only superpower, the United States, and a tiny African backwater, Eritrea, have in common? America and...
Read moreInformation Type | China Data |
---|---|
Population | 1,43 billion (June 2020 est.) |
Gross Domestic Product (GDP) | US$14200 billion (2020) |
GDP Per Capita | US$8,730 (2020) |
Inflation Rate | 3% (2020) |
Currency | Chinese Yuan (CNY); officially known as Renminbi (RMB) |
Exchange Rate Versus U.S. Dollar | 7.06 yuan = 1 U.S. dollar (June 2020) |
Language | Standard Chinese or Mandarin; various dialects |
Capital | Beijing |
Population of Capital City | 20,384,000 (2015) |
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 |
Government | Communist State |
Name and Party Affiliation of Current Leader | Xi Jinping (Since March 2013) (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 | https://en.ccpit.org/ No. 1 Fuxingmenwai Street Beijing 100860 Tel. 86-10-8807-5716 |
American Chamber of Commerce | Amchamchina.org The Office Park, Tower AB, 6th Floor |
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 |
What do the world’s only superpower, the United States, and a tiny African backwater, Eritrea, have in common? America and...
Read moreWhat do the world’s only superpower, the United States, and a tiny African backwater, Eritrea, have in common? America and...
Read moreWhat do the world’s only superpower, the United States, and a tiny African backwater, Eritrea, have...
Read moreFor North Americans, Halloween is all about jack-o-lanterns, spooky or comical costumes, trick-or-treating, and excessive candy consumption. In other parts of the world, the period around Halloween Day is filled with celebrations and activities with one thing in common—honoring the undead. Regardless where you find yourself this time of year, chances are reminders of death and the dead are all around… 1. Samhain: Derry, Northern Ireland Credit: AdobeStock/Henryk Sadura The roots of Halloween spring from Celtic tradition: Samhain is a...
Read more© 2008-2023 - Live and Invest Overseas - All Rights Reserved.
© 2008-2023 - Live and Invest Overseas - All Rights Reserved.
Download your FREE report on
The Best Places To Retire In 2023
New Year, New You, New Life Overseas