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China Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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Population
1,379,302,771 (July 2017 est.)
GDP (PPP)
$23.12 trillion (2017 est.)

Number 1 in the world

GDP growth rate
6.8% (2017 est.)

Very high even for emerging markets standards; it slowed sligthly in recent years

GDP (PPP) per capita
$16,600 (2017 est.)

Low

Local currency
Renmimbi Yuan (RMB)

Stable currency, though it slightly depreciated over the last 5 years

Financial stability (Public debt)
18.6% of GDP (2017 est.)

Low

Inflation
1.8% (2017 est.)

Low

Language
Chinese (Mandarin and Cantonese)

English not spoken especially outiside metropolitan areas

Corruption perception index (Source: Transparency International)
77/180

High

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT

17% on the sale or importation of goods 11% on necessity goods (agricultural products, water, gas)
Corporate Tax

25% Standard rate Reduced rates of 15% or less applies to certain sectors/industries
Duties

Rates vary depending on the origin of the goods imported. Exemptions apply to certain machinery, equipment and raw materials (if the company imports them for its own use within the amount of the investment)

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