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Why China?
Investing in China is no less an imperative for private companies than it is for large public companies. China's gradual embrace of market-oriented economic and business principles, its entry into the World Trade Organization (WTO), its growing middle class, its low labor costs--all have propelled it to the forefront of media attention and business planning. Firms of all sizes understand that by ignoring this potentially vast market for their goods and services or by failing to take advantage of the possibility of labor arbitrage, they risk falling behind their competition....
Investing in China is no less an imperative for private companies than it is for large public companies. China's gradual embrace of market-oriented economic and business principles, its entry into the World Trade Organization (WTO), its growing middle class, its low labor costs--all have propelled it to the forefront of media attention and business planning. Firms of all sizes understand that by ignoring this potentially vast market for their goods and services or by failing to take advantage of the possibility of labor arbitrage, they risk falling behind their competition....
PRC Labor Contract Law
The Labor Contract Law became effective on 1 January 2008 and applies to all enterprises, individual owned economic organizations and private non-enterprise work units in China. Under the law, there must be written labor contracts to establish labor relationships. There are four types of labor contracts specified:
- Contracts with fixed terms of service
- Contracts with unfixed terms of service
- Contracts where the terms of service equal to the period required to complete the tasks
- Collective contract
The Labor Contract Law details compulsory limits on probation periods under different working circumstances and also outlines situations where the employers and employees may terminate contracts and the relevant compensations.