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Why Choose China for Your Business?

What is China?

China is the world’s second-largest economy and a global powerhouse in manufacturing, technology, and trade. With a population of over 1.4 billion and a GDP exceeding USD 17.7 trillion (2022), China is a key player in the global market. Its strategic location, vast domestic market, and unparalleled infrastructure make it an attractive destination for businesses and investors worldwide.

China’s role in the global economy is further strengthened by its participation in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), a dynamic region designed to foster innovation, trade, and cross-border collaboration. As a hub for international business, China offers a wealth of opportunities for companies looking to expand their operations and tap into one of the world’s largest consumer markets.

China’s Role in the Global Economy

China’s economic dominance is built on several key pillars:

  • World’s Largest Domestic Market: With rising purchasing power and an expanding middle class, China is poised to become the largest retail market globally. Retail sales reached RMB 39.90 trillion (USD 5.46 trillion) in the first 10 months of 2024, up 3.5% year-on-year.
  • Global Manufacturing Capacity: China accounts for 28.7% of global manufacturing output, supported by a skilled workforce, advanced infrastructure, and government incentives.
  • Special Economic Zones and Business Incentives: China offers preferential policies, tax incentives, and streamlined regulations in over 2,000 Economic Development Zones (EDZs).
  • Network of Free Trade and Tax Agreements: China has established double taxation avoidance agreements with countries like Angola, Brazil, Macau, and Portugal, facilitating cross-border trade and investment.
  • Infrastructure and Supply Chain: China boasts the world’s largest network of high-speed rail, expressways, and ports, ensuring efficient logistics and supply chain operations.

Trade Between China and Portuguese-Speaking Countries (PLPs)

In 2024, trade between China and Portuguese-speaking countries (PLPs) reached USD 225.18 billion, marking an annual increase of 1.95%, according to the Macau Forum (Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries).

  • Imports and Exports:
    • Chinese imports from PLPs totaled USD 139.7 billion, a year-on-year decrease of 5.27%.
    • Chinese exports to PLPs reached USD 85.48 billion, a year-on-year increase of 16.46%.
  • December 2024 Performance:
    • Total trade in December 2024 was USD 16.59 billion, a year-on-year decrease of 20.61%.
    • Chinese imports from PLPs in December were USD 9.85 billion, a year-on-year decrease of 32.14%.
    • Chinese exports to PLPs in December were USD 6.75 billion, a year-on-year increase of 5.57%.
  • Key Trading Partners:
    • Brazil: Remained China’s largest PLP trading partner, with total trade reaching USD 188.17 billion, a year-on-year increase of 3.7%. Brazil imported USD 72.08 billion from China (up 21.9% year-on-year) and exported USD 116.09 billion to China (down 5.2% year-on-year).
    • Angola: Bilateral trade totaled USD 20.89 billion, a year-on-year decrease of 9.4%. Angola imported USD 3.24 billion from China (down 21.7% year-on-year) and exported USD 17.64 billion to China (down 6.7% year-on-year).
    • Portugal: Trade with China rose 6.6% year-on-year to USD 9.28 billion. Portugal imported USD 6.11 billion from China (up 5.5% year-on-year) and exported USD 3.17 billion to China (up 8.9% year-on-year).
    • Mozambique: Trade with China decreased 5.7% year-on-year to USD 5.19 billion. Mozambique imported USD 3.38 billion from China (down 8.9% year-on-year) and exported USD 1.81 billion to China (up 1.0% year-on-year).

Opportunities in China

China provides a wealth of opportunities for businesses and investors. The following types of companies are particularly well-positioned to benefit from the incentives and policies in the region:

  • Technology and Innovation Companies:
    • Startups, SMEs, and established firms in sectors like artificial intelligence, biotechnology, and fintech.
    • Companies engaged in R&D and innovation can access grants, subsidies, and tax breaks.
  • Financial Services Firms:
    • Fintech companies, asset management firms, and green finance initiatives.
    • Businesses involved in cross-border RMB transactions and international capital flows.
  • Professional Services Providers:
    • Companies providing logistics, supply chain management, and trade-related services.
  • Cultural and Creative Industries:
    • Media, design, and entertainment companies leveraging China’s vibrant creative ecosystem.
  • Manufacturing and Trade Companies:
    • High-tech manufacturers and exporters benefiting from China’s world-class infrastructure and logistics networks.

Why Choose China for Your Business?

China offers a unique combination of market access, policy support, and innovation-driven growth, making it an ideal destination for businesses looking to expand globally. Key advantages include:

  • World’s Largest Domestic Market: Access to over 1.4 billion consumers with rising disposable incomes.
  • Business-Friendly Policies: Preferential tax rates, streamlined regulations, and government support for innovation.
  • Talent Pool: China attracts top talent from across the world, particularly in technology and finance.
  • Cross-Border Opportunities: China’s network of free trade agreements and double taxation avoidance agreements (e.g., with Angola, Brazil, Macau, and Portugal) facilitates international trade and investment.
  • Infrastructure and Supply Chain: China’s advanced infrastructure ensures efficient production and distribution.

BN Lawyers: Your Partner in China and Portuguese-Speaking Countries

At BN Lawyers, we specialize in providing cross-border legal services to businesses operating in China and Portuguese-speaking countries. Our team includes registered cross-border lawyers with extensive experience in:

  • Corporate and Commercial Law: Assisting with company formation, joint ventures, and cross-border transactions.
  • Tax and Regulatory Compliance: Navigating China’s preferential tax policies and regulatory framework.
  • Dispute Resolution: Representing clients in cross-border disputes through arbitration and litigation.
  • Intellectual Property: Protecting IP rights in China’s innovation-driven economy.

Our Unique Value Proposition:

  • Macau Law Expertise: We provide expert advice on Macau law, helping businesses leverage Macau’s unique advantages as a bridge between China and Portuguese-speaking countries.
  • China Partnership: We work closely with our partner law firms in China to offer seamless legal support for businesses operating in the GBA and beyond.

Incentives for Businesses in China

China offers a range of incentives to attract investment and foster growth. The following types of companies are eligible for these benefits:

  • Tax Benefits:
    • Reduced corporate tax rates in special economic zones (e.g., 15% in Qianhai compared to the standard 25%).
    • Tax exemptions for overseas professionals working in China.
  • Financial Support:
    • Grants and subsidies for startups, SMEs, and high-tech enterprises.
    • Access to funding hubs like Qianhai’s Shenzhen-Hong Kong Fund Town.
  • Regulatory Flexibility:
    • Simplified approval processes for foreign investment and cross-border transactions.
    • Pilot programs for fintech, green finance, and other emerging industries.
  • Talent Incentives:
    • Subsidies for hiring overseas talent and streamlined visa processes for foreign employees.

Conclusion

China is at the forefront of global economic development, offering unparalleled opportunities for businesses in technology, finance, and professional services. With its business-friendly policies, strategic location, and innovation-driven economy, China is an ideal destination for companies looking to expand in the Greater Bay Area and beyond.

At BN Lawyers, we are committed to helping you navigate the complexities of operating in China. Our team of registered cross-border lawyers combines expertise in Macau law with a strong partnership with China-based law firms to provide comprehensive legal support for your business.

Contact us today to learn more about how we can help you seize the opportunities in China and Portuguese-speaking countries.