The ISO code of China is CN according to the ISO 3166 standard. The local name of the country is Zhong Guo. China capital city is Beijing. People in China speak the Standard Mandarin language. Around 2070 BCE, China emerged as a sovereign political entity. In the year 2070 BCE, China emerged as a sovereign political entity. The largest cities in China are Beijing, Shanghai.
China is located in the UTC +08:00 time zone, which is also called China Time or CNT. The internet country code top-level domain (ccTLD) for China is .cn. Other domains assigned to China are .中国, .中國, .asia, .佛山. The International dialing code for China is 86. People in China drive on the right side of the road. Total land area of China is 9,596,960 km² (approx. 3,705,390 mi²). China is not a landlocked country. It means that is is bordered by at least one major body of water.
China is located in Asia. China is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently China faces various issues, including air pollution (greenhouse gases, sulfur dioxide particulates) from reliance on coal produces acid rain, water shortages, particularly in the north, water pollution from untreated wastes, deforestation, estimated loss of one-fifth of agricultural land since 1949 to soil erosion and economic development, desertification, trade in endangered species.
Doing business in China
We offer various corporate services in China jurisdiction. These services can serve both, people coming from China and foreigners. If you plan on doing business in China you might be interested in contacting us.
To find out about starting your business in China click on company formation in China.
To find out how to open a bank account in China and moreover what type of account Confidus Solutions suggests to create, please click on bank account in China.
Choose preferred service below or continue reading to find out more about China.
Demographics of China
The total population of China is 1,415,045,928 people. In China, the population density is 142.42 people per square kilometer (370 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is almost uniform according to a fractionalization scale which for China is 0.1538. China has approximately 978046 foreign immigrants. The median age is approximately 36.7 years. In China, 42.3 in every 100 people use internet. China has a Human Development Index (HDI) of 0.719.
The majority religion of China is folk religions, China is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of China.
Culture of China
People in China speak the Standard Mandarin language. According to data on inbound tourists in China, 55,686,000 tourists arrive in the country each year. The first McDonalds in China was opened on 8 October 1990, and it was located in Shenzhen. One of the most popular national dishes of China is peking duck. To read more click on culture of China.
Geography of China
China is considered to be a vast nation because of its total area. Its total land area is 9,596,960 km² (approx. 3,705,390 mi²). China is located in Asia. Its capital city is Beijing. China has 16 neighbouring countries. Its neighbours include Afghanistan, Bhutan, Myanmar, Hong Kong PR China, India, Kazakhstan, North Korea, Kyrgyzstan, Laos, Macau PR China, Mongolia, Nepal, Pakistan, Russia, Tajikistan, and Vietnam. Total length of land borders of China is 22457 kilometers (~8,671 miles).
The highest point of China is Mount Everest, with its official height being 8848 m (29,030 ft). Including land mass and EEZ, the total area of China is approximately 10,473,979 km² (~4,044,007 mi²). The most notable natural resources found in China are coal, iron ore, petroleum, natural gas, mercury, tin, tungsten, antimony, manganese, molybdenum, vanadium, magnetite, aluminum, lead, zinc, rare earth elements, uranium, hydropower potential, arable land.To read more click on geography of China.
Economy of China
The currency of the country is Chinese yuan. The symbol used for this currency is ¥, and it is abbreviated as CNY. 4.7% of population in the country are unemployed. The total number of unemployed people in China is 66,507,159. Each year, China exports around $2210 billion and imports roughly $1950 billion. The Gini Index of the country is 46.9. China has a Human Development Index (HDI) of 0.719.The Global Peace Index (GPI) for China is 2.267. China has a government debt of 24.8% of the country's Gross Domestic Product (GDP), as assessed in 2012. China is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are world leader in gross value of industrial output, mining and ore processing, iron, steel, aluminum, and other metals, coal, machine building, armaments, textiles and apparel, petroleum, cement, chemicals, fertilizers, consumer products (including footwear, toys, and electronics), food processing, transportation equipment, including automobiles, rail cars and locomotives, ships, aircraft, telecommunications equipment, commercial space launch vehicles, satellites.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in China is $18,088,054 billion. Each year, consumers spend around $3,320,652 million. The ratio of consumer spending to GDP in China is 0%, and the ratio of consumer spending to the world consumer market is 7.72. The corporate tax in China is set at 25%. Personal income tax ranges from 5% to 45%, depending on your specific situation and income level. VAT in China is 17%. In 2013, China received 194.1 million USD in foreign aid.In 2014, the foreign aid amounted to 702.8 USD.To read more click on economy of China.
Infrastructure of China
Infrastructure quality in China is rated to be at 3.67. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.
In China, 100% of the population has access to electricity. There are 20,602,000 internet hosts in China. China has 507 airports nationwide.
The logistics performance index of China is 3.53. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 3.5. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
The number of road motor vehicles per 1000 inhabitants in China is 380. To read more click on infrastructure of China.
Politics of China
China, is a socialist single-party state. With regard to political and civil freedoms, China is 3. Citizens in China experience little to no civil liberties and political rights. Citizens are not free to express themselves and do not enjoy political freedom or a representative government. Countries with this political situation are dangerous for investment, as an authoritarian government may have outsize control over economic matters. The head of the government is Xi Jinping.
According to the World Bank Group, the government effectiveness index of China is 0.34. This indicates that the government of China is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in China before considering any business maneuvers.In China, the legislative power is vested in a National People's Congress. The Global Peace Index (GPI) for China is 2.267. The strength of legal rights index for China is 4. Overall, it is considered to be rather inadequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient. In 2013, China received 194.1 million USD in foreign aid. In 2014, the foreign aid amounted to 702.8 USD. China is a member of the United Nations (UN). On 24 October 1945, it joined the UN at it inception date as a full member state. China is one of the original UN member states who founded the organization. China is a member of the World Bank. To read more click on politics of China.
Environment of China
China emits 6.7 metric tons per capita of CO2. 2083210 km² of China's territory is covered in forests. and forest land comprises 22% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in China is 380. To read more click on environment of China.
Company formation in China
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in China.
When establishing a company in China, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of China that will affect the establishment and growth of one's business. Contact us or click on company formation in China to read additional information when setting up a business.
Bank account opening in China
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in China. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in China, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in China or contact us.