Meeting with Shanghai Municipal Commission of Commerce on Key Findings of Business Confidence Survey 2021
2021-06-16 | Shanghai
On 16th June 2021, the European Chamber Vice President (VP) and Shanghai Board Chair Bettina Schoen, along with other representatives and members of the European Chamber, presented the key findings of the 2021 Business Confidence Survey to Zhu Yi, Deputy Director General (DDG) of the Shanghai Municipal Commission of Commerce (SCOFCOM).
VP Schoen highlighted national findings such as: minor revenue decrease amidst Covid-19 pandemic, more companies onshoring supply chain in China than offshoring. VP Schoen also highlighted Shanghai-specific findings such as: Shanghai’s decreasing attractiveness for European companies to set up regional headquarters, challenges posed by the new Individual Income Tax Law for expatriates, and regulatory and market access barriers for European companies. Shanghai Board Member Holly Lei and Jens Ewert highlighted travel difficulties for foreign nationals entering China. DDG Zhu said SCOFCOM could facilitate the communication between the European Chamber and competent authorities on these matters. She further proposed to organise policy briefing sessions for Chamber members, should new policies come out.