China is the leading economic and technological superpower in eastern Asia and has the second largest economy in the world. It has a communist party-led government with a focus on market-oriented economic development strategies. China has numerous mineral resources, as well as the world’s largest hydroelectric power potential. 54.7 percent of the land is utilized for agriculture. Major ethnic groups consist of the Han who are 92 percent of the population, and the Zhuang who are the minority. Languages spoken are Mandarin, the official language, as well as  Cantonese among many others. Major religions are Buddhism, Christianity, and Islam.

Due to the maturing of the Chinese economy and the effect of the economic war with the United States, the country’s economic growth is expected to continue decelerating, as it has gone from 7.8% in 2013 to 6.9% in 2017. Population growth has stabilized or even slowed, but per capita GDP, on the other hand, has grown from $8103 in 2016 to $8806 in 2017.

Average Monthly Earnings

Unemployment Rate

Employment by Sector

Agriculture 25.1%
Industry 27.5%
Services 47.4%

Schedule a Demo

In Uzbekistan, the laws enforce implied contracts. Where there is no express agreement, the intent of the parties can be determined by conduct. #Uzbekistan #ComplianceUpdates #GlobalCompliance #GlobalPeopleStrategist

In Turkey, effective July 1, 2022, Turkey's gross minimum wage is TRY 6,471 per month. #Turkey #ComplianceUpdates #GlobalCompliance #GlobalPeopleStrategist

In the Bahamas, foreign nationals wishing to work remotely for a foreign company, a visa program named BEATS grants a residence and work permit for 12 months. #ComplianceUpdates #GlobalCompliance #GlobalPeopleStrategist

The Bahamas has a program called Bahamas Extended Access Stay, allowing students to study remotely from the Bahamas. The fee for this visa is BSD 525 and is valid for 12 months. #ComplianceUpdates #GlobalCompliance #GlobalPeopleStrategist

In Romania, starting January 1, 2023, pensioners of the public pension system and beneficiaries whose monthly income is less than or equal to RON 3,000 are eligible for financial aid. #Romania #ComplianceUpdates #GlobalCompliance #GlobalPeopleStrategist

Load More...