China, officially the People’s Republic of China (PRC), is a unitary sovereign state in East Asia and the world’s most populous country, with a population of around 1.404 billion. Covering approximately 9,600,000 square kilometers (3,700,000 sq mi), it is the third- or fourth-largest country by total area, depending on the source consulted. China also has the most neighbor countries in the world. Governed by the Communist Party of China, it exercises jurisdiction over 22 provinces, five autonomous regions, four direct-controlled municipalities (Beijing, Tianjin, Shanghai, and Chongqing), and the special administrative regions of Hong Kong and Macau.

Capital: Beijing

Currency: Renminbi

Timezone: UTC+8

Corporate tax rate: 5-35%

Personal tax rate: 3-45%

Capital gains tax: 20%

VAT: 16%

Tax residence: 183 days rule: world income is taxed with some exceptions. Special rules for residents of Hong Kong, Macau and Taiwan

CFC Rules: Yes

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