Please kindly note that due to limited capacity, your in-person attendance must be confirmed via email from our team. Confirmation emails will be sent by Wednesday, April 30.
With the seemingly unstoppable progress of digitization across all areas of business and society in recent years, regulatory compliance is a perennial hot topic. In China, two areas in particular stand out at the moment:
Digitization in the accounting sphere
China has effectively completed its digital transition in the area of VAT invoice (fapiao) issuance, with most companies, retail outlets and even train tickets being issued in digital form now. With this system in place, the Chinese tax bureau is pushing companies to adopt similarly advanced platforms to manage their accounting work. Not only will such platforms create efficiencies for internal processing and reporting, they can be leveraged to entirely eliminate the maintenance and storage of paper records. Chinese authorities have stipulated that electronic archiving is a fundamental requirement for such systems and a precondition for companies to discontinue their paper-based accounting books.
Our corporate accounting and IT / IS experts will introduce our system for digitizing the accounting process, and explain how we maintain compliance with important government regulations covering such financial accounting systems.
Ensuring online corporate tools / apps utilized in China are legally compliant
Many multinational companies develop apps that gather and store various information in digital form, or they use ERP systems that are hosted overseas but include information on Chinese citizens. If these apps are hosted outside of China the compliance challenge relates to Cross-Border Data Compliance (CBDT). Chinese regulations that become effective in May of this year are bringing extra requirements in this area.
Alternatively, compliance challenges usually relate to Multi-Level Protection Scheme (MLPS) certification for any app or system hosted inside of China. This is a standardized certification system that requires companies to take strong measures to protect their systems in China from security breaches, and imposes heavy penalties for failing to do so. The accounting system we introduce in the above-mentioned section falls into the latter category here for compliance purposes.
Our data security specialists will introduce what companies need to do in order to ensure the apps they are using (whether hosted inside or outside of China) maintain compliance with relevant Chinese laws.
Agenda:
- 3:30-4:00 PM - Registration and networking
- 4:00-4:25 PM - Presentation: Digitizing the accounting process, our system, and maintaining compliance with key government regulations
- 4:25-4:50 PM - Presentation: Ensuring compliance with Chinese regulations for apps used inside and outside China
- 4:50-5:30 PM - Q&A Session and networking
Venue:
- In person in Shanghai.
- Address details: 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 offline seminar is free of charge, but registration is required due to limited availability. To secure your spot please RSVP.
*Please note that registration is on a first-come, first-served basis. Your registration is valid only if a confirmation email is received from us. Confirmation emails will be sent by Wednesday, April 30, 2025.
We look forward to welcoming you to an informative and enlightening session. For more information, please contact freda.chen@dezshira.com.
