| Currency | Payroll Frequency | Employer Taxes |
| Chinese Yuan (CNY) |
Monthly | 39.50% – 41.20% |
Introduction
China is the world’s second-largest economy, with a GDP of $27 trillion in 2021 according to the World Bank. The country has experienced rapid economic growth in recent decades, becoming a major player in the global economy and lifting millions of people out of poverty.
The International Monetary Fund (IMF) projects that China’s economy will grow by 8.4% in 2022, which is among the highest rates in the world. The Chinese economy is driven by a number of key sectors, including manufacturing, agriculture, and services.
The country is a major exporter of a wide range of goods, including electronics, clothing, and machinery. The service sector is also an important contributor to the economy, with the country’s tourism industry being a major player.
Agriculture is another important sector, with China being one of the largest producers of rice and other crops in the world.
How can PEO solutions help?
Imagine the ability to hire across country boundaries at scale and without having to worry about the legal and employee administration process of your employee. That’s how PEO solutions work.
By providing total workforce management solutions, AYP Group is able to help you manage payroll, distribute competitive employee benefits packages, and ensure that your business is compliant with the relevant local legislation wherever your employees are based.
How much would PEO Solutions cost?
The range of solution providers of PEO solutions can range from USD300 per employee to USD650 per employee. View AYP Group’s transparent list of solutions for your worker types here.
Find out about AYP’s total workforce management solution today!
Learn more about AYP Global Pay, Asia Pacific’s smartest People and Payroll Management System.
Contact our HR specialists to learn more.