European Chamber South China Chapter addressed key issues at the European Business Symposium
2023-08-02 | South China
On 2nd August, the European Chamber South China Board Chair Mr Klaus Zenkel and board member Mr Aaron Finley, were invited to attend and spoke at the European Business Symposium hosted by the Department of Commerce of Guangdong Province. The symposium, presided over by Mr Zhang Jinsong, Director General of the Department of Commerce of Guangdong Province, gathered representatives from diverse foreign chambers of commerce and foreign enterprises.
Mr Zenkel unveiled insights from the recently published European Business in China Business Confidence Survey 2023. He provided suggestions for enhancing the business environment within Guangdong Province. Notably, Mr Zenkel highlighted concerns regarding the re-rollout of the Greater Bay Area (GBA) Preferential Individual Income Tax (IIT) policy. The modifications to talent criteria and the cessation of IIT exemptions for specified non-cash benefits were discussed, posing potential obstacles for European companies and impeding the mobility of foreign talents. He also shed light on barriers that might jeopardise European businesses' de-carbonisation endeavours, underlining the importance of sustainable practices.
Other chambers of commerce and foreign enterprises engaged in the dialogue by sharing their developmental status within Guangdong Province. Insights and suggestions pertaining to GBA preferential IIT policies, carbon emissions standards, and pertinent matters were presented.
Mr Zhang expressed gratitude for the invaluable suggestions put forth by participants. He assured proactive responsiveness to concerns and demands, emphasising the significance of collective engagement. He extended an invitation to the upcoming economic and trade promotion event in Germany in September, urging active participation. Mr Zhang encouraged heightened investment in Guangdong and underscored the potential for deeper collaboration.