Sizing Up Opportunity In Shanghai
When I first visited China in 1994, there were more bicycles on…
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Facts About China
| Population | 1,367,485,388 (July 2015 est.) |
| Gross Domestic Product (GDP) | $19.39 trillion (2015) |
| GDP Per Capita | $14,100 (2015) |
| Inflation Rate | 1.4% (2015) |
| Currency | Chinese Yuan (CNY); officially known as Renminbi (RMB) |
| Exchange Rate Versus U.S. Dollar | 6.65 yuan = 1 U.S. dollar (June 2016) |
| 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 | http://english.ccpit.org/ No. 1 Fuxingmenwai Street Beijing 100860 Tel. 86-10-8807-5716 |
| American Chamber of Commerce | http://www.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 |