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ATMA Country Update | China - Webinar Recording Now Available

15 Jun 2023 01:53 | Sharon Michnay (Administrator)

The recent China Update webinar packed a substantial amount of information into just 30 minutes.

Also below - Watch Full Recording and Register for June 16 Hong Kong Event

Here are a few key takeaways: 

  • Despite the opening border, there is still hesitance for foreigners to accept long-term assignments in China and reluctance by Chinese employees to accept assignments abroad.  Currently, talent is finding short-term assignments more agreeable.
  • Top concerns causing hesitancy to accept long-term assignments include dual career families, impact on career after the 2-3 year assignment, and other family concerns.
  • Current tax exemptions for assignments into China have been extended through the end of 2023, but uncertainty exists about their availability or similar benefit availability after that timeframe is adding to the trend towards shorter-term assignments
  • Assignees are still lining up to enter China.  During Q1, residence permits issued increased by 40%, totaling about 186,000 foreign national residential permit applications. 
  • The surge in resident permit applications is causing backups in the process.  Some locations, such as Singapore, Malaysia, and Singapore, have extended timeframes to book appointments for visa applications.
  •  Chinese nationals returning during the pandemic years have filled in any gaps in housing and education left by departing foreign expatriates, and the housing market never dipped in China.  Expat rentals are no longer unique, and expats are losing out on apartments to locals.
  • While rental housing costs remain high in many, especially Tier 1 cities, compared to other locations, the prices are currently less expensive.

Register for the June 16th Country Update on Hong Kong

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