North America
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Europe
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China Business Report
General information
Source: The World Factbook - Central Intelligence Agency
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)
77/180High
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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