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.

Being seen in the Chinese internet

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 are free. Our Chinese platforms is available when you want to make a start in the Chinese market.

Internetnal internet trading

With the exception of north America and businesses where e-Commerce is part of their core trading I feel the importance of the internet has been lost on many companies trading locally and world-wide.

The internet is often seen as something your business needs a presence on and not the main point in which to start trading. Maybe we saw it as something that was important in the 90’s but we have move on, that was yesterday idea!

This is not the case; the birth of the internet was as important as the birth of the printing press. Like the printing press, the internet is finding different uses very quickly given that the internet, like the printing press, enables faster commutation of information. If the printing press gave access to towns and cities., the internet gives us access to the world.   

There has been a world-wide change in the use of the internet which has been developing over the last 10 years.

The USA has leads the way, “if you are not online you not trading”. This is followed by China, not Europe, with number of users over 800 million and growing. The developing markets of Africa and South America will follow soon.

There has been a growing and changing use of the internet driven by the youth of the world over. 20 years ago, TV, books, newspapers were the main sources of information. Today the growing demands for information, educations and purchases is supplied by the internet.

There is now a generation which grew up with the internet and is working in business. They are changing the way in which we trade locally and international. This change is so great that your local market now has direct access to the international market.

This change is not a “Big Bang” but the changes are happening daily and are often missed by business.

Based on our company extensive knowledge we suggest the following key issues need to be considered;

  • Be seen on the internet world-wide. What services on the internet have been developed recently? Can new services help to grow your business or are they going to take control away from your business?
  • The amount of information being collected has given birth to the term “Big Data”. How can you put this information to use for our business?
  • With each passing generation the world-wide knowledge grows. The world-wide demand for education and training is growing fast along with the growing populations. Is your business seen as a source for information?
  • The world-wide control of distribution channels. The use of the internet enables people to access products and services faster. New big businesses are keen to manage and control access to products and services. Do these new businesses create new business opportunities or effect your current trading?

Web page last modified: May 2018

 

 

Transfer money to and from China

Transfer money to and from China

 

Can a Chinese citizens take / transfer money overseas?

Chinese citizen has 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.

This arrangement 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. Therefore, 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; normally $us. 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.

  1. 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.

  1. Purchasing of service from China.

This is most underdeveloped market currently. 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.

  1. 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 involved we recommend taking advice from a large Chinese export agent and local Chinese legal business. Make a local legal appointment to look after your Chinese interests.

The purchase of overseas services by a Chinese citizen 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.

Our recommendation when setup an investment 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;

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.

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.

Web page last modified: September 2018