All Policy Summaries

China's tax revenue tops 10 trln yuan in H1 as economy improves

The State Taxation Administration reported that China's national tax revenue exceeded 10 trillion yuan in the first half of 2026, attributing the milestone to an improving economy. The figure signals strengthening tax collection and broader economic recovery, which may influence near-term fiscal policy expectations for businesses and investors.

August 4, 2026

Market Access 🤖 AI Summary Recently Updated

China's tax support for innovation, manufacturing tops 1.91 trillion yuan in H1 2026

China's State Taxation Administration reported that tax support for innovation and manufacturing reached 1.91 trillion yuan in the first half of 2026. This reflects continued government efforts to reduce tax burdens on R&D-intensive and manufacturing enterprises, encouraging technological development and industrial upgrading. The scale of support signals sustained fiscal commitment to these strategic sectors.

August 4, 2026

China to refine visa-free policy, streamline entry procedures for foreign visitors

China's Ministry of Public Security announced plans to refine visa-free transit and entry programs, digitize travel documents, and expand smart customs clearance. The measures aim to streamline entry for foreign visitors and support China's opening-up agenda. These changes build on recent expansions of visa-free policies that have already led to a 30% surge in visa-free entries, benefiting foreign travelers and businesses.

Industry 🤖 AI Summary Active Policy

China to conduct 500-bln-yuan MLF operation to sustain banking liquidity

The People's Bank of China (PBOC) announced a 500 billion yuan (about $73.6 billion) one-year Medium-term Lending Facility (MLF) operation to maintain ample liquidity in the banking system. The operation uses variable-rate tenders with fixed quantity and a multiple-price auction. With 400 billion yuan maturing this month, the net injection is 100 billion yuan, supporting bank lending and economic stability.

Trade 🤖 AI Summary Active Policy

Fourth Meeting of the Sub-Committee on Trade and Investment of the China-Thailand Joint Economic and Trade Commission Held in Bangkok

China and Thailand held the fourth meeting of their Sub-Committee on Trade and Investment in Bangkok on July 9, 2026, co-chaired by Vice Minister of Commerce Yan Dong and Thailand's Vice Minister for Commerce Piyanuch Wuttisorn. The two sides discussed deepening bilateral trade and investment cooperation, with Thailand seeking enhanced collaboration in agricultural trade, e-commerce, and SMEs, and expressed readiness to improve the business environment for Chinese firms investing in Thailand. This meeting reinforces ongoing economic ties and signals continued market access and trade facilitation between the two countries.

Trade 🤖 AI Summary Active Policy

MOFCOM Spokesperson’s Remarks on Relevant Export Control Measures Targeting Japan

China's Ministry of Commerce (MOFCOM) expanded export control measures against Japan by adding 20 Japanese entities to a restricted namelist and 20 to a watch list, effective June 29, 2026. These measures target entities involved in or suspected of contributing to Japan's military modernization, imposing stricter controls on dual-use item exports. The action is justified under China's Export Control Law and aims to counter Japan's perceived remilitarization, while claiming not to affect normal trade.

MOFCOM Spokesperson’s Remarks on Adding 10 U.S. Entities to the Export Control Restricted Namelist

Policy update: MOFCOM Spokesperson’s Remarks on Adding 10 U.S. Entities to the Export Control Restricted Namelist

Trade 🤖 AI Summary Active Policy

China-UK Export to China Trade Session (MOFCOM Briefing)

China's Ministry of Commerce and the UK Department for Business and Trade jointly hosted the 'Export to China' UK Session in London on July 1, 2026, as part of China's initiative to encourage UK exports. The event featured targeted business matchmaking across sectors like automobiles, energy, life sciences, and sporting events, with over 100 UK companies and 40 Chinese firms participating. This reflects China's commitment to expanding imports and deepening bilateral trade ties, including exploring a potential China-UK services trade agreement.

SAFE Releases Data on Foreign Exchange Settlement and Sales by Banks and Data on Foreign-related Rec...

Policy update: SAFE Releases Data on Foreign Exchange Settlement and Sales by Banks and Data on Foreign-related Rec...

Trade 🤖 AI Summary Recently Updated

SAFE Releases Data on China's Foreign Exchange Reserve at the End of June 2026

The State Administration of Foreign Exchange (SAFE) released data showing China's foreign exchange reserves fell to USD 3,416.3 billion by the end of June 2026, a decline of USD 26.0 billion (0.75%) from May. The decrease is attributed to a stronger US dollar and mixed global asset price movements. SAFE reiterates that China's economy remains stable and is supporting the resilience of its reserves.

SAFE Releases China's International Investment Position as at the End of March 2026

Policy update: SAFE Releases China's International Investment Position as at the End of March 2026

SAFE Releases Selected Data on Transactions in the Chinese Foreign Exchange Market in May 2026

Policy update: SAFE Releases Selected Data on Transactions in the Chinese Foreign Exchange Market in May 2026

SAFE Releases Data on External Financial Assets and Liabilities of China's Banking Sector as at the ...

SAFE released quarterly statistics on China's banking sector external financial position. As of end-March 2026, banks held $2,108.6 billion in external assets against $1,485.1 billion in liabilities, resulting in net external assets of $623.6 billion. The data highlights the currency structure and counterpart distribution of cross-border banking exposures, offering transparency into China's international financial linkages.

SAFE Deputy Administrator and Press Spokesperson Li Bin Answers Media Questions on Foreign Exchange ...

Policy update: SAFE Deputy Administrator and Press Spokesperson Li Bin Answers Media Questions on Foreign Exchange ...

Regulation 🤖 AI Summary Active Policy

SAFE Releases Data on China's External Portfolio Investment Assets by Country/Region and by Sector o...

The State Administration of Foreign Exchange (SAFE) released data on China's external portfolio investment assets as of the end of 2025, totaling USD 1,987.5 billion. The portfolio is composed of USD 1,262.8 billion in equity investments and USD 724.7 billion in bond investments. The largest recipients include Hong Kong SAR, the United States, and offshore financial centers, while non-bank financial institutions hold the majority of assets. This data provides transparency into China's overseas investment patterns and sectoral distribution.

The Central Bank of the People's Republic of China

Policy update: The Central Bank of the People's Republic of China

USD/CNY Fixing Rate

Policy update: USD/CNY Fixing Rate

China’s Macroprudential Management System: Development Practice and Future Evolution-Keynote Speech by Governor Pan Gongsheng at the Annual Conference of Financial Street Forum 2025

Governor Pan Gongsheng outlined the evolution and future direction of China's macroprudential management system, emphasizing its critical role in preventing systemic financial risks. The speech highlights progress in building the framework and signals tighter coordination between macroprudential policy and monetary policy. This matters for financial institutions, as future regulatory measures will focus on strengthening financial stability and risk resilience.

PBOC Holds Meetings in Sichuan and Shaanxi to Advance Payment Service Optimization

Policy update: PBOC Holds Meetings in Sichuan and Shaanxi to Advance Payment Service Optimization

Notice of the PBOC, NFRA and CSRC on Issuing the Green Finance Endorsed Project Catalogue (2025 Edition)

Policy update: Notice of the PBOC, NFRA and CSRC on Issuing the Green Finance Endorsed Project Catalogue (2025 Edition)

PBOC, MEE, NFRA and CSRC Issue Opinions on Leveraging Green Finance to Support the Beautiful China Initiative

Policy update: PBOC, MEE, NFRA and CSRC Issue Opinions on Leveraging Green Finance to Support the Beautiful China Initiative

BRI forum calls for closer tax cooperati...

Industry 🤖 AI Summary Recently Updated

China's tax data reveals steady industrial revenue growth in first 5 m...

Official tax invoice data from China's State Taxation Administration shows industrial enterprises' sales revenue grew 6.8% year on year in the first five months of 2026, driven by strong performance in high-tech manufacturing, equipment manufacturing, and clean energy. The data highlights the accelerating transition to green energy and the leading role of AI-related industries like robotics and intelligent vehicles, indicating a consolidation of China's industrial economic foundation.

@ Overseas Travelers: Upgraded Tax Refund Policy Makes “Shopping in C...

China's tax authority announced an upgraded tax refund policy for overseas travelers to encourage tourism and stimulate spending during their visits. The policy eases the process for claiming VAT refunds on purchases, likely by raising refund rates, lowering purchase thresholds, or simplifying procedures. This change aims to make shopping in China more attractive for international visitors.

China Refines Departure Tax Refund Policies to Fuel Inbound Consumptio...

Policy update: China Refines Departure Tax Refund Policies to Fuel Inbound Consumptio...

Which transactions are subject to the 13% VAT rate?

This policy clarifies which transactions are subject to China's standard 13% VAT rate. It specifies the types of goods and services that fall under this rate, helping taxpayers determine the correct VAT treatment. The guidance aims to support accurate tax filing and compliance for businesses.

China' s tax data highlights steady growth of corporate sales revenue in the first four months

The State Taxation Administration released data showing steady growth in corporate sales revenue during the first four months of 2026, indicating stable economic activity. While no new policy measures were announced, the data serves as a benchmark for assessing business performance and tax revenue trends.

Regulations on the Reporting of Tax-Related Information of Interne...

The State Taxation Administration has issued regulations requiring internet and online platform enterprises to report tax-related information on merchants operating through their platforms. This policy aims to enhance tax collection and reduce evasion in the digital economy by giving tax authorities access to transaction and income data.

Administrative Measures for Individual Income Tax Annual Reconcili...

These Administrative Measures clarify the procedures and requirements for annual reconciliation of Individual Income Tax (IIT) in China. They establish timelines, filing methods, and obligations for taxpayers and withholding agents. This update aims to streamline the reconciliation process and ensure compliance with China's IIT system.

Taxation 🤖 AI Summary Active Policy

First Online Departure Tax Refund Store Launched in Be...

China launched its first online store for departure tax refunds in Beijing, enabling eligible departing travelers to claim tax refunds on purchased goods through a digital platform. This simplifies the refund process and aims to boost tourism and consumer spending.

Taxation 🤖 AI Summary Active Policy

What tax-related information is exempt from reporting,...

This policy clarifies specific categories of tax-related information that are exempt from mandatory reporting to Chinese tax authorities. It aims to reduce compliance burdens for taxpayers and streamline reporting procedures. The exemption applies to certain internal operational data and non-material transactions, but taxpayers must still meet core filing obligations.

Submission Channels for Tax-Related Information Submis...

This policy clarifies the official channels through which taxpayers in China must submit tax-related information to tax authorities. It standardizes submission methods to improve efficiency and compliance, covering both electronic and in-person filing options. Taxpayers should verify the specified channels to ensure their filings are accepted and processed without delay.

Time for tax-related information submission

This policy announces the deadline for submitting tax-related information to Chinese tax authorities. Taxpayers must ensure they file required tax documents by the specified date to comply with regulations and avoid penalties. The timing of submissions is critical for accurate tax assessment and maintaining good standing.

Multilateral Convention on Mutual Administrative Assistance in Tax Matters

China has implemented the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, enhancing international tax cooperation. This enables automatic exchange of financial account information and assistance in tax collection among participating countries. The policy increases transparency and compliance requirements for taxpayers with cross-border activities.

Deepening Tax Reforms

VAT administration information system

The State Taxation Administration has introduced a new or updated VAT administration information system. This system is designed to streamline VAT collection, improve compliance monitoring, and modernize tax administration through digital tools. The change matters for businesses as it may affect VAT reporting, filing procedures, and interaction with tax authorities.

What is the currency for the tax refund?

The policy clarifies that tax refunds from Chinese tax authorities are issued in Renminbi (RMB) only. This ensures consistency and avoids currency conversion complexities for taxpayers. Businesses and individuals should prepare their bank accounts accordingly to receive refunds in the correct currency.

Taxation 🤖 AI Summary Active Policy

How is the amount of the tax refund calculated?

This policy from China's State Taxation Administration explains the methodology for calculating tax refund amounts. It provides a standardized formula for determining refunds, which may apply to various taxes such as VAT or income tax. The calculation typically involves assessing total tax paid, allowable deductions, and applicable tax rates. Understanding this process helps taxpayers ensure accurate refund claims and compliance with tax regulations.

Market Access Upcoming (Effective Soon)

2026 Negative List: Service Sector Liberalization

China plans to release the 2026 Negative List for Foreign Investment, further opening service sectors including telecommunications, healthcare, and education to foreign participation. This follows the full opening of the manufacturing sector in 2024 and represents the next major milestone in China's investment liberalization roadmap.

June 1, 2026

China-EU Comprehensive Agreement on Investment — 2026 Implementation Milestones

Following renewed diplomatic engagement, China and the EU agreed on implementation milestones for key provisions of the Comprehensive Agreement on Investment (CAI) through 2026. While full ratification remains pending, both sides committed to voluntary implementation of market access and sustainable development provisions.

June 1, 2026

China Carbon Market Expansion to Foreign Participants (2026)

China's national carbon emissions trading market was expanded in May 2026 to include eight new industrial sectors and, for the first time, allow qualified foreign institutional investors to participate in carbon credit trading. This opens new opportunities for foreign financial institutions and creates compliance obligations for foreign manufacturers.

May 1, 2026

Hainan FTP — Zero-Tariff Expanded + Offshore Headquarters Incentive 2.0

Hainan Free Trade Port expanded its zero-tariff policy to cover all production equipment and raw materials (previously limited to select categories). A new "Offshore Headquarters 2.0" incentive offers qualified multinational regional headquarters 5% effective CIT rate and full foreign exchange convertibility within the FTP.

May 1, 2026

Shanghai Lingang — Cross-Border Data Transfer Green Channel

Shanghai's Lingang Special Area launched a "green channel" for cross-border data transfers, allowing qualified enterprises to export operational data without the standard security assessment. This is specifically designed for multinational R&D centers, financial data processing, and global supply chain management systems operating from Lingang.

April 25, 2026

Industry Active Policy

Belt and Road Initiative: Green Investment Guidelines (2026)

China issued updated green investment guidelines for the Belt and Road Initiative, prioritizing renewable energy, sustainable infrastructure, and green finance. Foreign co-investors partnering with Chinese companies on BRI projects receive preferential access to Chinese development finance.

April 20, 2026

2026 National Unified Market — Removing Local Protectionism

China's State Council issued guidelines to accelerate the construction of a "National Unified Market," aimed at eliminating local protectionism, standardizing regulations across provinces, and ensuring that foreign-invested enterprises face consistent rules regardless of where they operate in China.

April 15, 2026

Industry Active Policy

Jiangsu — Advanced Manufacturing Foreign Investment Action Plan

Jiangsu province released an action plan specifically targeting foreign investment in advanced manufacturing. The plan covers semiconductor fabrication, new energy vehicles, industrial robotics, biopharmaceuticals, and aerospace components, with dedicated industrial land, utility subsidies, and supply chain integration support.

April 10, 2026

Taxation Active Policy

2026 R&D Super-Deduction Expansion for Foreign Enterprises

China expanded its R&D super-deduction policy effective April 2026, increasing the deduction rate to 120% for general R&D and 200% for strategic technology R&D (AI, semiconductors, biotech). For the first time, foreign-invested R&D centers are explicitly eligible on equal terms with domestic enterprises.

April 1, 2026

Chengdu-Chongqing — Western Region FDI Development Zone

As part of the "Western Development 3.0" strategy, Chengdu and Chongqing jointly launched a cross-city FDI development zone with enhanced incentives for foreign investors in logistics, clean energy, electronic information, and modern agriculture. The zone bridges the two megacities and leverages the China-Europe Railway Express hub.

March 25, 2026

2026 Special Bonds for Foreign-Invested Infrastructure Projects

China's Ministry of Finance allocated RMB 1.3 trillion in special-purpose bonds for 2026, with a new provision allowing qualified foreign-invested enterprises to bid on infrastructure projects funded by these bonds. This marks the first time foreign companies can access China's local government special bond market as contractors and co-investors.

March 20, 2026

Taxation Active Policy

2026 Tax Incentive Updates for High-Tech Enterprises

China's 2026 tax incentive framework maintains and expands benefits for high-tech enterprises. The flagship HNTE (High and New Technology Enterprise) 15% CIT rate continues, super-deductions for R&D expenses are broadened, green tech enterprises receive additional incentives, and digital economy sectors are newly prioritized for preferential treatment.

March 15, 2026

China Green Bond Market Opening to Foreign Issuers (2026)

China opened its green bond market to qualified foreign issuers in early 2026, allowing foreign companies and financial institutions to issue yuan-denominated green bonds in China's interbank market. Combined approvals and issuance procedures were streamlined to encourage participation.

March 15, 2026

2026 Government Work Report — FDI & Opening-Up Priorities

China's 2026 Government Work Report sets ambitious targets for foreign investment and economic opening. GDP growth target of ~5%, consumer price increase ~2%, deficit-to-GDP ratio of 4%. The report emphasizes "high-quality development" and "new quality productive forces" as key themes for foreign investment policy through 2030.

March 5, 2026

Legal Active Policy

2026-2030 Foreign Investment Reform Framework (NPC)

The National People's Congress approved a five-year institutional reform framework for foreign investment covering 2026-2030. The framework targets deeper legal and regulatory reforms to create a more predictable, transparent business environment aligned with international standards.

March 5, 2026

15th Five-Year Plan: Foreign Investment Priorities (2026-2030)

China's 15th Five-Year Plan (2026-2030), released in March 2026, positions foreign investment as a key lever for high-quality development. The plan introduces a strategic framework organized around three pillars: "Shop in China" (consumption), "Export to China" (trade upgrades), and "Invest in China" (investment promotion), signaling continued openness to foreign capital.

March 1, 2026

Guangdong-GBA — Cross-Border Wealth Management Connect 3.0

The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) launched Wealth Management Connect 3.0, significantly expanding cross-border investment channels. Individual investment quotas were tripled, product scope broadened to include ETFs and green bonds, and participation extended beyond banks to include securities firms and fund managers.

March 1, 2026

Zhejiang — Digital Economy Foreign Investment Zone

Zhejiang province designated the Hangzhou-Ningbo corridor as a "Digital Economy Foreign Investment Zone," offering streamlined company registration, dedicated data infrastructure, and tax incentives for foreign technology companies establishing R&D centers or regional headquarters in cloud computing, AI, e-commerce, and fintech.

February 20, 2026

Beijing — International Consumption Center City FDI Incentives

Beijing released targeted foreign investment incentives as part of its "International Consumption Center City" master plan. Foreign retailers, hospitality groups, and consumer brands receive rent subsidies, fast-track licensing, and tax rebates for establishing flagship stores and regional headquarters in designated commercial zones.

February 15, 2026

2025 Catalogue of Encouraged Industries (Effective Feb 2026)

The new 2025 Catalogue of Encouraged Industries for Foreign Investment took effect on February 1, 2026, expanding encouraged sectors to 1,679 items. The catalogue prioritizes advanced manufacturing, modern services, high-tech industries, and green energy, with special incentives for central/western regions and the Hainan Free Trade Port.

February 1, 2026

MOFCOM 2026 Foreign Investment Optimization Plan

The Ministry of Commerce (MOFCOM) unveiled a comprehensive plan to optimize foreign investment policies for 2026. Key measures include expanding market access, strengthening intellectual property protection, streamlining approval processes, and enhancing post-investment services for foreign enterprises already operating in China.

January 26, 2026

Legal Active Policy

Foreign Talent Visa and Work Permit Reforms (2026)

China streamlined its foreign talent visa and work permit system effective January 2026, introducing a unified "Talent R" visa category, expedited processing for high-skilled workers, and expanded eligibility criteria benefiting foreign companies seeking to hire international expertise.

January 15, 2026

Shenzhen Foreign Investment Incentive Program (2026-2029)

Shenzhen launched an aggressive foreign investment incentive program effective January 1, 2026, offering 1%-3% cash incentives on new foreign investment exceeding USD 50 million, capped at RMB 50 million per year. The program is valid through 2027 for qualifying investments made between 2023 and 2027.

January 1, 2026

Shanghai Foreign-Invested Enterprise Reinvestment Measures

Shanghai introduced a package of measures in December 2025 to encourage foreign-invested enterprises to reinvest profits and expand operations. The measures include flexible land-use policies, streamlined foreign exchange registration, simplified food retail licensing, and expanded Qualified Foreign Limited Partnership (QFLP) pathways.

December 26, 2025

Hainan Free Trade Port Full-Island Customs Operations

On December 18, 2025, Hainan became the world's largest free trade port with the commencement of full-island customs operations. The island is now designated as an independent customs zone operating under a "domestic yet offshore" framework, featuring broader tariff exemptions and simplified cross-border capital movements.

December 18, 2025

RCEP Implementation Phase 2: Tariff Reductions Accelerate (2025-2026)

The Regional Comprehensive Economic Partnership (RCEP) entered its second implementation phase in November 2025, triggering another round of tariff reductions between China and member countries. Tariffs on thousands of additional product lines were reduced or eliminated, deepening Asia-Pacific trade integration.

November 1, 2025

National AI Industry Standards Framework (2025)

China published its comprehensive national standards framework for artificial intelligence, covering safety, ethics, data governance, and industry applications. The framework provides regulatory certainty for foreign AI companies and creates pathways for certification and market access.

October 10, 2025

Cross-Border Data Transfer Regulations (Updated 2025)

China relaxed its cross-border data transfer rules in September 2025, exempting many routine business data transfers from security assessments. The updated framework simplifies compliance for foreign companies handling HR, procurement, and non-sensitive operational data.

September 15, 2025

Digital Economy Development Plan: Data as a Factor of Production (2025)

China's State Council released the Digital Economy Development Plan recognizing data as a formal factor of production. The plan opens significant opportunities for foreign companies in data infrastructure, cloud services, AI applications, and digital transformation consulting.

August 20, 2025