| Q: What does the China-Pakistan Free Trade Agreement cover? |
| A: China and Pakistan signed an agreement on free trade area (FTA) on November 24, 2006, in the presence of top leaders from both countries. The agreement is projected to triple current bilateral trade to 15 billion US dollars within five years. Here is the full text of the agreement. |
| Q: How to Set up a Foreign Capital Enterprise in China? |
| A: In order to expand economic cooperation and technical exchanges with foreign countries and promote the development of China's national economy, China permits foreign enterprises, other economic organizations and individuals (hereinafter referred as foreign investors) to establish foreign capital enterprises in the territory of the People's Republic of China and protects the lawful rights and interests of foreign capital enterprises. |
| Q: How Does the VAT Works in China? |
| A: There are two kinds of VAT taxpayer in China by the criterion of turnover of sale goods & services and condition of accounting system. One is normal taxpayer, the other is small taxpayer. |
| Q: How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China? |
| A: According to the Administrative Rules of the People's Republic of China on Cross-Border Transportation of National Currency issued by China's central bank in December 2004, travelers are allowed to take up to US$5,000 equivalent of foreign currency and 20,000 yuan of local currency (US$1=7.7 yuan) into or out of the country. |
| Q: What Is the Electrical Fitting in China? |
| A: If you are planning on using a foreign electrical device in China you may need a plug-in adaptor and a voltage converter. Electrical current in China is 220V and 50Hz AC. To choose the proper voltage converter first check the labeling of your electrical device(s) to find out the voltage and wattage. |
