China is the world’s second-largest economy and the second-most populous country. It is home to a rich and diverse talent pool. The strength of the country’s economy lies in its vast domestic market and massive export sector. The government consistently enhances the business environment to promote high-quality development in the country. Simultaneously, the state fosters a transparent, stable, and predictable legal environment for businesses with numerous free zones.
Top Reasons to Expand to China
China is a manufacturing powerhouse with many flourishing industries. The nation offers immense opportunities for solar panel development, boat building, automobile, alternative fuel, and pharmaceutical manufacturing businesses. Low production costs, a dynamic economy, and a vast market make China an attractive entrepreneurial destination.
Over 80% of foreign-invested businesses have expressed their satisfaction with the Chinese business environment in a 2023 survey. The country has an integrated, open, market-oriented, and law-based business environment. Its government is proactively strengthening the regulatory system and bolstering market vitality. The land of the Red Dragon ranks 31 on the World Bank’s Ease of Doing Business tally. The business climate is flexible and open to innovation.
For Recruitment Agencies
China offers a highly skilled workforce for diverse sectors, including finance, technology and innovation, healthcare, e-commerce, renewable energy, automobiles, and artificial intelligence. Workplaces in the country value hard work, and the Chinese workforce has an excellent work ethic and sense of diligence, where hierarchy is crucial and strictly adhered to. Workers appreciate work-life balance from the recruiter, boosting retention and loyalty towards the organisation.
However, a foreign business or recruiter needs to manage the high-context communication style with the team, which contrasts with most developing and developed nations, where direct and concise communication is preferred, which may be especially difficult in remote work settings. Here is where an experienced EOR can support you in effectively managing the team.
China is committed to green and sustainable development, which creates immense opportunities for professionals across the clean energy, EV, and environmental research segments. The country offers a high standard of living with a well-developed infrastructure, comparable to most developed nations. Plus, the cost of living in China is lower than that in most other countries with similar living standards. It also has high health standards and assurance of safety.
The country has a 44-hour workweek, where the employer adequately compensates for overtime. Workplaces encourage napping at work to boost productivity. Company culture is much less bureaucratic than in most Western countries. Vacation allowance and the number of sick leaves depend on a person’s seniority and experience within the organisation.
How Does Access Financial Help?
Access Financial is a global leader in providing Employer of Record (EOR), contract and payroll management, and umbrella services. Our comprehensive suite of services for corporates, recruitment agencies, and professional contractors minimises your legal and financial liabilities in China. Access Financial has been a trusted partner for over 20 years, providing expedited onboarding, accurate and timely invoicing, and payment services in compliance with the country’s labour laws. We closely monitor the emerging business landscape and evolving regulatory frameworks to ease entry into and ongoing operations in the country. We ensure our clients have a smooth experience setting up an enterprise, recruiting, or working in China by managing time, costs, personnel, and legal obligations.
Services for businesses and recruitment agencies
- Employer of Record (EOR)
- Payroll outsourcing with assured confidentiality.
- Compliance with employment laws.
- Minimising tax liabilities while fully subscribing to the laws.
- Administrative support.
Services for Contractors
- Contract administration.
- Work permit and immigration assistance.
- Ensuring compliance with employment laws.
- Boosting take-home income.
Here are some commonly asked questions about expanding to or working in China.
Question: I’m an Australian contractor and want to migrate to China for work. Can you help me with the paperwork?
Answer: Yes. Access Financial supports all aspects of immigration, including entry visas, work, residence permits, and social security registration.
Question: I’m a business owner who wants to expand to China. How can you help?
Answer: Access Financial can help you with all aspects of setting up a business entity in China. We assist you in identifying the most suitable entity type, such as Representative Office (RO), Wholly Foreign-Owned Enterprise (WFOE), Joint Venture (JV), or Foreign-Invested Partnership (FIP). We also handle administrative responsibilities, payroll management, and compliance.
Question: My recruitment agency wants to hire IT talent from China. Can Access Financial help?
Answer: Absolutely. We can assist you in registering as a Wholly Foreign Owned Enterprise (WFOE) and procuring a business licence. If you want to avoid setting up a physical presence in China, you can use our EOR services to recruit and manage the IT team.