Yubei district was a part of Jiangzhou county of Bajun county from the Shang Dynasty (1600-1100 BC) to the Three Kingdoms (AD220-280).
The county of Jiangbei was established in 1914 and was named Yubei district of Chongqing city in December 1994.
Yubei is located near the Yangtze River and Jialing River, and is a key part of Chongqing’s urban area and also of Liangjiang New Area.
Yubei has 11 towns and 15 streets in an area of 1,452 square meters – with a population of 1.11 million at the end of 2012.
The district’s economy has developed in recent years – and it is now one of the most prosperous districts in the city, with the highest GDP.
It was included in the country’s list of Top 10 Industrial Districts and Counties for six successive years, and its total investment in fixed assets ranks first in Chongqing for a dozen years.
Yubei also focuses on the wellbeing of its residents amid its development. It was named a National Civilized City in Western China, and has won over 30 national honors.
Its strategy focuses on the opening-up policy, ecology, culture and balance urban and rural development during the 12th Five-Year Plan (2011-2015).
Yubei aims to assist Chongqing’s opening-up process and fulfill the general objective in building a prosperous society.
At the end of the 12th Five-Year Plan (2011-2015), Yubei district had an industrial system focusing on advanced manufacturing industry and modern service industry - and played an important role in Chongqing’s economic growth.
The district’s modernization and internalization were accelerated, and it had built an image as a demonstration area of Chongqing.
To facilitate people who want to invest and set up business In Yubei District Chongqing China, here is an introduction of Types of business presence in China:
Before starting up a business in China, you have to know what are the options. Foreign Investors generally establish a business presence in China in one of five modes: Wholly Foreign Owned Enterprise (WFOE); Representative Office; Foreign Invested Partnership Enterprises (FIPE); Joint Venture and Hong Kong Holding Company.
Wholly Foreign Owned Enterprise (WFOE) is a Limited liability company wholly owned by the foreign investor. WFOE requires no registered capital and it's liability of equity , can generate income, pay tax in China and it's profit could be repatriate back to investor's home country. Any enterprise in China which is 100 percent owned by a foreign company or companies can be called as WFOE.
Representative Office (RO) is a Liaison Office of it's parent company. It requires no registered capital. It's activities would be: product or service promotion, market research of it's parent company's business, Quality Control liaison office etc in China. RO generally is prohibited to generate any revenue nor generating contracts with local businesses in China.
Joint Venture (JV) is a Limited liability company formed between Chinese investor and Foreign investor. The parties agree to create a entity by both contributing equity, and they then share in the revenues, expenses, and control of the enterprise. JV usually been used by foreign investor to engage the so called restricted in areas such like: Education, Mining, Hospital etc.
Since March 1, 2010: Measures of Establishment of Foreign Invested Partnership Enterprises (FIPE) in China istaking effect. The regulation, which take effect since March 1, 2010, are known as the Administrative Measures for the Establishment of Partnership Enterprise in China by Foreign Enterprises or Individuals. There's no required minimum registered capital for a Foreign Invested Partnership Enterprise (FIPE) in Shanghai, Beijing, Guangzhou, Shenzhen, Hangzhou and rest cities of China
Hong Kong Company usually been used as a Special Purpose vehicle (SPV) to invest Mainland China. Hong Kong is one of the quickest locations to Incorporate a business. Although a HK company is not a legal entity in Mainland China (Mainland China and Hong Kong, See Wiki 1 country, 2 systems), lots foreign investors, especially investors from Europe and North America still chose to setting up a Hong Kong company as SPV to invest China.
After China's entry to WTO, most industries in China welcome foreign investment, WFOE setting up in China becomes the first option of foreign investment's entity structures instead of Rep. Office setting up in China. At the mean time, for tax purpose, effective licensing system etc more and more investors use Hong Kong as the holding company to invest China mainland, using this offshore company to hold their operations in China.
Business set-up in Chongqing is a big project by itself, which requires financial and time commitments, business management knowledge and China expertise. Identifying a competent agent to manage the complex process will be a cost and time effective way to avoid potential pitfalls . Tommy China Business Consulting has direct connections in the local government
Since 2006, TCBC has been focusing on consulting services for our clients to invest in Chongqing China. We are specialized in establishment of wholly foreign owned enterprises (WFOEs), setting up of offshore companies, trading services, tax minimization, Assist in obtaining government approvals and certificates for running business, negotiate and draft various legal documents provide legal advice, negotiate government officer for Land acquisition. Advising on formation of WOFE and business structures, managing and controlling WOFE in Chongqing China, drafting privacy policies and structuring commercial transactions
TCBC will manage all aspects of incorporation to get you a business license in Chongqing China. We offer a range of company formation services including helping you to set up:
-Wholly Foreign Owned Enterprises (WFOE )
-Joint Ventures (Equity/Co-operative)
-Foreign Invested Partnership Enterprises (FIPE)
Contact Tom Lee for company registration in Yubei District Chongqing now
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