South China Chapter Vice Chair Meets with Guangzhou Mayor
2024-09-05 | South China
On 5th September, Fabian Blake, vice chair of the European Chamber’s South China Chapter, delivered a speech at the Guangzhou Foreign Enterprises Roundtable Meeting. The event, hosted by Guangzhou Vice Mayor Tan Ping, was also attended by Sun Zhiyang, Guangzhou mayor and deputy party secretary. The roundtable served as a crucial platform to discuss business development, investment priorities and the challenges faced by major foreign-funded businesses in Guangzhou, with the goal of boosting confidence in their long-term growth and stability. The European Chamber was the only chamber invited to this event, where it advocated on some of the top issues impacting its members.
In his speech, Blake addressed several critical issues and offered recommendations raised by European Chamber members. Key topics included the incomplete implementation of the Greater Bay Area (GBA) Preferential Individual Income Tax (IIT) Policy, challenges related to green energy initiatives and carbon footprint management, and operational difficulties faced by European Union (EU) small and medium-sized enterprises (SMEs), particularly in the realm of intellectual property protection. He also presented key findings from the Business Confidence Survey 2024, highlighting a decline in national business confidence among European firms due to the broader economic slowdown.
Regarding the GBA Preferential IIT Policy, the Guangzhou Government reported that it is currently reviewing submitted tax returns. Subsidies for the years 2021 and 2022 are expected to be paid by the end of 2024, with the application process for 2023 subsidies set to begin shortly after that. Concerning green energy and carbon footprint management, especially for EU SMEs, the government shared the latest regulations and encouraged European Chamber members to participate in an upcoming policy interpretation seminar aimed at helping businesses navigate the evolving regulatory landscape. Additionally, updates were provided on efforts to streamline administrative processes and strengthen intellectual property protection, reaffirming the government’s stated commitment to support the sustainable growth of European enterprises in Guangzhou.
At the conclusion of the roundtable, Blake presented Sun with a copy of the Business Confidence Survey 2024. During their discussion, he also mentioned the upcoming launch of the Position Paper 2024/2025, scheduled for October 17th in Guangzhou.