2012

China Needs to Change its Trade Strategy. By Siva Yam, CFA, CPA, President of the U.S.-China Chamber of Commerce and Paul Nash, Editor of China Alert, China Daily, June 1, 2012

 

Country cannot rely old pillars to prop up economy

 

For several decades, China has built its economic strategy on four pillars: exports, foreign direct investment, fixed-asset investments and domestic consumption. Of these exports have played a vital role- they have drawn in FDI, underpinned investment in fixed assets and fueled domestic consumption.

Since the global financial crisis, China's export to its two largest customers - Europe and the United - have slowed down significantly, giving a new sense of urgency to the government's current plan to lift the nation's manufacturing base up the value chain.

To read the full article, please see the China Daily Website. All rights are reserved by China Daily.

How China's Economy Must Change. By Siva Yam and Paul Nash, May 16, 2012. The Diplomat

 

Mao Zedong, China’s “Great Helmsman,” was a keen student of history. It was for this reason, perhaps, that he was able at times to prognosticate with uncanny accuracy. He once predicted that “the natural forces of capitalism are about to stir among China’s farmers. If these forces go unchecked, society will become polarized. In the end, both the poor and the newly rich will become discontent..." (Click to see full article)

2011

​China's Turning Point is an Opportunity for U.S. firms By Siva Yam, CFA, CPA, President of the U.S.-China Chamber of Commerce and Paul Nash, Editor of China Alert, China Daily, September 22, 2011​

​​

China's economic restructuring and industrial upgrading will be a gold mine for foreign investors in coming years.

As the United States grapples with persistent economic uncertainty, China finds itself at a difficult but anticipated turning point in its economic development model. Its dominant industrial base and market-share of global trade in basic, low-cost manufacturing is weakening.

To read the full article, please see the China Daily Website.  All rights are reserved by China Daily. ​

Investment from China. Found in the Wall Street Journal.

Many manufacturing jobs have moved overseas, particularly to China. What has been overlooked is that Chinese investors are investing in the U.S. Although tales of lost jobs and repeated fights over the yuan dominate the news, stories about Chinese investments are beginning to elbow their way in. A recent story in The Wall Street Journal describes how an RV company received a much-needed $310 million infusion of cash from a Chinese investor.

 

For more information please click on the following: Investments from China or visit http://online.wsj.com/article/SB10001424052748704615504576172410117309984.html?

New Regulations for Representative Offices

Many foreign companies have no legal status in China but still maintain representative offices (ROs). An RO allows a company to have a presence in China, but an RO is not supposed to engage in any for-profit activities. There has been some abuse of this system by some companies that did not want to go through the process of applying for permits to do business. Instead of obtaining permits, those companies conducted business in violation of their limited authority as ROs. To crack down on those violators, China issued new regulations governing ROs. The regulations tighten the rules for the establishment and operation of an RO by stating the activities that an RO may engage in. In addition, the regulations now have more teeth due to the increased fines for violations. The regulations are effective March 1, 2011....(click to see more information)

 

2010

What is the Real Value of RMB? By Siva Yam, CPA, CFA, President U.S.-China Chamber of Commerce with the assistance of Phil Wong, Esp., Editor, China Alert, U.S.-China Chamber of Commerce

A lot has changed since the day that King George III sent an envoy to congratulate Emperor Qianong on his eightieth birthday. That marked the beginning of a formal East-West diplomatic relations, although King George's real agenda was for trade and permission for missionaries to preach Christianity in China...(see full article)

2009

Bridging the Worldwide Business Gap. By Aricka Flowers, China Daily, March 9, 2009

(Redistributed with Permission from China Daily)

Siva Yam knows business - especially when it comes to US and Chinese relationships. For the past 10 years, Yam has been president of the US-China Chamber of Commerce (USCCC), which focuses on fostering trade and investment activities between the two countries.During his stint as president of the USCCC..... (see attached for full article)

Opportunities for U.S. and Chinese Companies During Financial Crisis. Presentation by Siva Yam, CPA, CFA, at the First international Tourism and Culture Industry Forum in China, August 15, 2009

Together US and China accounted for over 50% of world economic growth in the first half of the decade in 21st century. However, the two countries contributed to the world very differently......(see full presentation)

2008

Surface Transportation and the Global Economy. By Siva Yam, April 16, 2008

With a concerted effort, China began an aggressive plan of building a national network of surface transportation. In 1992, the established a plan that designated 45 key centers for the... (see attached for full presentation)

Snatching Defeat from Jaws of Victory? Interview of Siva Yam, CFA, CPA, Greg Burnard, Shanghaistar Business Journal, March 3, 2008

Over the past 20 years, China has dispatched trade ministers beyond its borders in an attempt to lure the globe's biggest manufacturers to Shanghai and other cities across the nation. But now, much of the emphasis is on call centers, computer programming and high tech, and that could have serious negative consequences......(see attached for full article)

2007

2006

Are Chinese Cars Ready for the Prime Time? By Siva Yam and Paul Nash, February 26, 2006

‘There is nothing I can do with this bone,’ mumbled Cao Cao in the classic 14th century Chinese novel Romance of the Three Kingdoms, While chewing on a bare bone. ‘But,’ he continued, ‘it would be a waste to throw it
away!’ One could easily draw an analogy with the Chinese auto industry... (see attached for full article)

Is China's Economy Overheaded? By Siva Yam, September 1, 2006

The report on China’s economic growth continues to be on the upbeat note. It accelerated at its fastest in more than a decade with 11.3 per cent growth in the second quarter over the same period a year earlier. It was propelled by record trade surplus; rapid, uncontrolled expansion in capital investments; and unstoppable rise in real estate value. Just like an old Chinese saying, "Mr. Cai lost his horse, but it might be the best thing that had happened for him;" the celebration of the accelerated growth in China's economy in recent months needs to be reevaluated.... (see attached for full article)

2005

2004

A Plan for China By Siva Yam and Paul Nash, July 20, 2004, New York Times

After two decades of exporting their way to greater prosperity, China’s megacities are beginning to recognize the need for more imports. Economic expansion has stirred up a curious new demand in urban China — not for flashy luxury goods from the West, but for masses of farmers from China’s remote villages — a fresh generation of potential consumers that could plant the seeds of future economic growth. (Read full article)

Articles & Publications

From USCCC, members, sponsors and contributors.

China’s Legislation on Autonomous Cars Rolls out

April 9, 2021

The pandemic does not seem to have slowed down the rapid development in autonomous cars in 2021. Autonomous driving is seeing a boom in investment. In China alone, there have been 24 financings related to autonomous cars in the first two months of 2021. The total amount of financing involved exceeded RMB 17 billion...

Tags:

Finance / Investment

Mark Schaub and Atticus Zhao

Global tax considerations for U.S. businesses choosing a foreign entity structure

February 11, 2021

Are you planning to expand your business overseas? If you are planning to move to China, you may be encouraged to open a wholly foreign-owned enterprise (WFOE) or a joint venture (JV). In reality the decisions don't stop there. When expanding your corporate footprint there is a lot to consider...

Tags:

Tariffs/ Taxes

Steve Schnepel, Randall Janiczek

2021 China tax planning: Incentives exit and tax filing calendar

February 2, 2021

During the COVID-19 Pandemic, the Chinese government released a series of tax incentive policies. Which of these will still be in place during 2021?

Tags:

Tariffs/ Taxes

Yi Zhang, Alex He, Crystal Li, Brian Wang

The Pandemic and the New Trade Paradigm

July 2020

Why the Auction Market Is Replete With Scams, Inferior, Unsafe and Fake Products.
The heart of the problem is the unprecedented shock of the pandemic, which no one could have imagined and everyone was unprepared for. The sudden surge in demand for personal
protective equipment (PPE) has exceeded the supply of products that are essential but so basic and simple with low value and low demand in regular times. At the same time, there has been a sudden surge in manufacturers and middlemen not previously involved in medical supplies. All of this is occurring in a segment in which there is no global coordination or oversight, and no pre-existing model to manage the supply chain in extraordinary times. Every country is competing against one another. The ultimate losers, of course, are front-line healthcare workers and the general public.

Tags:

Manufacturing, Trade

Siva Yam, CPA, CFA, Paul Nash, Ph.D., Contributing Editor

Tax rules change affects foreign nationals working in China

February 19, 2019

Are you a Chinese tax resident? Whether or not an expat has a work visa the answer may be yes. When will you need to pay Chinese income tax on overseas income? Thanks to Plante Moran for helping us find the answer.

Tags:

Tariffs/ Taxes

Alex He, Brian Wang, Yi Zhang

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