The internet has changed the business world
In is happening daily all over the world
Like the printing press over 650 years go
The printing press enable commutations to towns and cities. The internet enables commutations world wide.
Many buiness are not see the changes
Is your internet present support your trading or point in which you start trading?
The race is on world-wide to control and profit from internet explanation.
Given the indepenant deveopment of the internet in China there are two countries running the internet: USA and China
The internet is merging markets world-wide.
With a little time and knowlodge you can see the opportunity
Your local market in now available internationality
You no longer need to leave your office to trade overside your local market.

Want to grow your business in Chinese market?

The Chinese market is not just trading in China and in the past.

Your local market now has access to Chinese market.

This is due to;

  • Chinese international trading over the internet,
  • Chinese delegations traveling world-wide for trade and education,
  • Chinese people on holiday exporting the world and returning to China with gifts of expletive banded products,

You on longer need to visit China to trade with China.

If you are serious about China, you need to be visible on the Internet in China!

Most overseas websites cannot be seen in China. It is a straight forward process to correct this using Access to China products and services.

We have a unique understanding of the practical and legal web issues, restrictions and requirements in China and how to help companies have optimum web visibility there. We have over 16 years’ experience serving international companies working in China.

Our company was founded to help business be seen in China on the internet and to give software companies access to the Chinese market.

This year we see the start of our own Cloud Hosting Services in China. We believe this is a first for an overseas company in China.

Our knowledge and advice is free. Our Chinese Cloud Hosting Services is available when you want to make a start in the Chinese market.

 

Transfer monies to and from China

transfer monies to and from China

Can a Chinese citizens take / transfer monies overseas?

Chinese citizen have a limitation on the amount of monies they can transfer overseas. It is approximately $40,000 per year per person: this was at the time of writing October 2017.

A Chinese person can take monies in cash or hold monies in overseas currencies in bank Chinese account and credit cards.  This enables a Chinese citizen to make overseas purchases on Chinese credit cards when overseas. Normally using as credit card processed by Union Pay; not Master Card or Visa.

Using these credit cards also enables Chinese citizens to purchase goods from overseas websites provided they can process a Union Pay transaction.

The agreement enables Chinese people to travel world-wide or put their child through overseas education, etc.

Chinese citizen do need to register any overseas interest, monies, property, etc. This is same for most countries where overseas interests need to be declared for taxation, etc.

In general it stops large sums of monies been moved overseas form China without local Chinese authorities agreement.

Business transferring monies to / from China.

Businesses, in the main, can freely trade with Chinese business. A main part of China success story over the last 50 years is China world-wide trading. To that end, if the rules and regulations are followed then the transfer of monies in and out of China will be successful.

  1. Purchasing of goods from China.
    • When purchasing goods from China the agreement is arranged and processed in China by a Chinese export agent. This is why you often see two businesses involved on a Chinese trade show stand; the supplier / manufacture and the Chinese export agent.
    • Payment terms will always be in overseas currency. If the payment is made in Chinese RMB the Chinese export agent will not be able to claim back the sales tax from the government.<
    • The Chinese export agent will raise the papers with authorities which includes submitting the sales agreement to the bank. The bank will then be able to accept overseas payment and pass it on to the Chinese business in Chinese RMB.
  2. Purchasing goods from overseas counties.
    • This in the main is the same process as purchasing goods from China. A Chinese export agent is appointed by the Chinese business making the purchase.
    • The Chinese export agent will raise the necessary papers to enable the import which includes registration of the purchase agreement with the Chinese bank. Once the bank has accepted the agreement overseas payments can be made provided the terms of the agreement have been met with supporting papers.
    • When trading goods to / from China all counties involved have an audit trail of the transaction through customers and therefore monitoring and controls are straight forward.
    • This becomes more complex with trading in services where no goods physically move.
  3. Purchasing of service from China.
    • This is most underdeveloped market at this time. Most examples of services purchases from China will be relating to travel or Chinese information technology services.
    • Most of the purchases from China is for goods and therefore any service fee e.g. export agents, shipping insurance, etc. are charge as part of the cost of purchase.
    • If services are purchased from China the Chinese business will register the agreement with the Chinese bank. The payment can them be received by the Chinese bank / Chinese business.
  4. Purchasing of services from overseas.
    • The purchasing of services from overseas between businesses is straight forward.
    • The service agreement is registered with the Chinese bank. If the agreement is accepted by the Chinese bank payments can be made on confirmation that the services have been provided and the invoices are summited to the bank for payment.
    • If large sums of monies are involve we recommend taking advice from a large Chinese export agent and local Chinese legal business. Make a local appointment legally to look after your Chinese interests.
    • The purchase of overseas services by a Chinese citizens e.g. school fees, is again straight forward provided the purchase value for the year stays within their $40,000 pa. By using their credit card to pay the transaction is straight forward provided the overseas business can process Union Pay.

Transferring monies between businesses that owned / partly owned by overseas company

You can transfer monies in and out for China provided that the correct papers have been created and agreed by authorities and bank at outset of your Chinese business.

Are recommendation when setup an interest in a Chinese business that you appoint someone you trust with good local Chinese trading knowledge and experience. Keeping up with the rules and regulations takes time and money.

Most of the problems is transferring monies between companies is due to papers not been correct or misunderstanding in the rules and regulations.

Please note:-

    1. Some overseas banks will hold Chinese RMB currency account. While there may be a currency conversion reason for doing this, it has limited commercial use as you can only spend Chinese RMB in China and the Chinese export agent do not like trading in Chine RMB.
    2. The RMB exchange rate is fixed by the China authorities to $us. This rate is changed from time to time normally only by few percent. Therefore the amount of monies you receive in your local currency will depend on the Sus exchange rate.