Your China Business during COVID-19 Outbreak

SUMMARY: SITUATION IS IMPROVING AND OPPORTUNITIES FOR IMPROVEMENTS EXIST

• There are signs of economic improvement, but long-term recovery will be dependent upon other global economies
• China has provided some economic assistance in the form of reduced company social benefit contributions, delayed tax filings, lower VAT for small scale enterprises, and so on.
• Empathy towards both staff and clients is critical
• There are opportunities to be had, especially in terms of companies improving internal processes and use of digital tools
• Sovereign may be able to help in regards to finance and tax related matters

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