China’s State Taxation Administration (STA) has published its 15th annual report on the advance pricing agreement (APA) programme on 26 December 2024.

The report provides comprehensive statistical insights into the implementation of the APA programme in China, spanning the period from 2005 to 2023.

According to this report, 296 APAs have been signed from 2005 to 2023, including 153 unilateral and 143 bilateral APAs. In 2023, 36 APAs were signed—nine unilateral and 27 bilateral. The number of bilateral APAs reached a record high in 2023, with 14 new APAs and 13 renewals.

Additionally, there were 60 bilateral APAs in the intention stage in 2023, which is 13 more than in 2022. In 2023, all nine unilateral APAs were finalised within 24 months. Of the 27 bilateral APAs, 13 were completed within 24 months, while 14 took over 24 months to complete.