Advances in Biopharmaceutical Technology in China
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Chapter 13:   Doing Business in China

Deacons Hong Kong
5th Floor
Alexandra House
18 Chater Road
Central Hong Kong
Tel: 852 - 2825 9211
Fax:852- 2810 0431
hongkong@deacons.com.hk

About the Author:
Deacons is a leading business law firm with a network of affiliated firms comprising over 900 legal professionals across Asia, and over 150 years of experience in providing legal services. Deacons has established offices or affiliates in Hong Kong and the People's Republic of China, Australia, Indonesia, Malaysia, Singapore, Taiwan, Thailand and Vietnam. Deacons' lawyers understand Asian cultures and business protocol in the region. Our principal service areas include Banking & Finance, China Trade & Investment, Communications & Technology, Company Formation & Corporate Services, Construction & Arbitration, Corporate Finance & Capital Markets, Entertainment & Media, Financial Services, Human Resources & Pensions, Insolvency & Restructuring, Insurance, Intellectual Property, Japan Services, Litigation, M&A and Commercial, Private Equity & Venture Capital and Property. In 2005, Deacons became the first and only foreign law firm to have been granted 3 offices licences in China. Deacons clients which 46 of the top 75 global brands and 7 of the World's 10 Largest Pharmaceutical Companies

Abstract:
This chapter covers doing business in China, including: Visas and Work Permits, Types of Business Entities, Business Environment, Foreign Investment Policy, Government Initiatives and Incentives, Taxation, Workplace relations, and Dispute Resolution. Before 1978, China's economic policies were mainly aimed at self-reliance. As a result, the country was virtually shut off from world economic developments. In 1978, China opened its doors to foreign investment with the goal of modernizing its economy and raising the living standard of its people. The country has since established the necessary legislative basis for foreign investment and has actively sought to acquire modern foreign management and technical skills. China adopted a Constitution in 1982, which has been amended various times since. The national legislative organ is the National People's Congress (NPC), which convenes annually for two weeks. When the NPC is not in session, its permanent organ, the Standing Committee, exercises most of its powers. The primary executive organs of state power are the President, who is the head of state, and the State Council being the government. The Chinese Communist Party remains the main political force in China and controls all appointments to key state organs. The PRC is a unitary state, which has delegated certain legislative and executive powers to regional or local authorities.

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Eric Langer
BioPlan Associates, Inc.
2275 Research Blvd, Suite 500
Rockville, MD 20850
Phone: 301-921-5979; Fax: 301-926-2455
E-Mail: info@bioplanassociates.com