Navigating China's Compliance Framework in the Digital Age

Kindly note that due to limited seating, in-person attendance must be confirmed via email from the organizing team. Confirmation emails will be sent by Wednesday, April 30.

The ongoing advancement of digitization across various sectors has made regulatory compliance a crucial subject. Currently, two significant areas of focus in China are:

Digitization in Accounting

China has successfully transitioned to digital issuance of VAT invoices (fapiao), impacting companies and retail transactions, including train tickets. This digital framework encourages businesses to utilize advanced platforms for their accounting processes, enhancing internal efficiency and eliminating the need for paper records. The Chinese tax authorities mandate electronic archiving as a core element of such systems, allowing companies to phase out traditional accounting methods.

The session will feature corporate accounting and IT specialists who will present a system for digitizing accounting processes and demonstrating compliance with essential government regulations governing financial accounting systems.

Compliance for Corporate Apps in China

Multinational companies frequently develop applications that collect and manage digital data, sometimes using ERP systems located overseas that encompass information on Chinese citizens. As of May, new regulations present compliance challenges regarding Cross-Border Data Compliance (CBDT). Moreover, apps or systems that operate within China must comply with the Multi-Level Protection Scheme (MLPS), which sets forth stringent security standards and imposes heavy penalties for non-compliance. The accounting system discussed earlier falls under this compliance category.

Experts in data security will explain how companies can ensure that their applications, regardless of their hosting location, abide by pertinent Chinese laws.

Agenda:

• 3:30-4:00 PM - Registration and networking
• 4:00-4:25 PM - Presentation: Digitizing the accounting process and ensuring compliance with key regulations
• 4:25-4:50 PM - Presentation: Compliance with Chinese regulations for apps used domestically and abroad
• 4:50-5:30 PM - Q&A Session and networking

Venue:

• In-person in Shanghai.
• Address: Room 2107, 699 West Nanjing Road, Oriental Centre, Jing’an District, Shanghai, China 上海市静安区南京西路699号东方投资大厦2107室

Registration:

• This seminar is free of charge, but registration is necessary due to limited availability. To secure a place, RSVP is required.

*Please be advised that registration is prioritized on a first-come, first-served basis. Valid registration requires a confirmation email to be received. Confirmation emails will be sent by Wednesday, April 30, 2025.

The team anticipates hosting participants for an insightful and educational session. For further inquiries, please contact freda.chen@dezshira.com.