Form of Establishment

• Foreign service suppliers may provide management consulting and taxation services through joint ventures, with foreign majority ownership permitted. By December 11, 2007, wholly foreign-owned subsidiaries may be established.

• Foreign accounting firms may establish wholly foreign-owned subsidiaries. They may also affiliate with Chinese firms and enter into contracts with their affiliated firms in other WTO countries.

• Licenses will be issued to those foreigners who pass China’s national CPA examination will be done on the basis of  national treatment.  Those applying for a license will be notified of the decision within 30 days after submitting a complete application.

• Only Certified Public Accountants, licensed by China’s authorities, may provide accountancy services in China. 

• Existing contractual joint venture accounting firms may provide services through CPAs licensed in other countries. 

• Suppliers of accounting, auditing, and bookkeeping services as well as taxation services and management consulting services will be accorded national treatment.

• Accounting firms may provide taxation and management consulting services and will not be subject to additional form of establishment requirements.

• Managers, executives, and specialists of a representative office, branch, or subsidiary in China, temporarily moving as intra-corporate transferees, will be permitted an initial stay of three years.

• Managers, executives, and specialists of foreign-invested enterprises in China will be granted a long-term stay permit as stipulated in the terms of contracts concerned or an initial stay of three years, whichever is shorter. 

• Service salespersons who are not based in China, and who meet certain other conditions set out in China’s services schedule, are limited to a 90-day stay.

• The cross-border supply of accounting, taxation, and management consulting services is not subject to market access restrictions and is accorded national treatment.

• The provision of accounting, taxation, and management consulting services outside of China is not subject to market access restrictions and is accorded national treatment.

• The conditions of ownership, operation, and scope of activities for an existing foreign service supplier, as set out in the supplier’s contract or shareholders’ agreement or in a  license establishing or authorizing the supplier’s operation or supply of services, will not be made more restrictive than they were on December 11, 2001.