Seminar: “An update on recent changes in China’s legal environment” – 26 October 2015, 16 h. – Ghent
Sep-28-2015 By : fcccadmin
The Flanders-China Chamber of Commerce (FCCC) is organizing a seminar in Ghent on the topic of “An update on recent changes in China’s legal environment”. Mr. Philippe Snel, Partner of the De Wolf Law Firm Shanghai will talk about recent developments in compliance, the food and labor laws, the increased tax burden of foreign companies, attempts to unify the administration of justice on intellectual property rights, and the increasing success of the Shanghai (China) Pilot Free Trade zone and e-commerce.
The seminar will take place on October 26, 2015 at 16 h. in Ghent (place still to be determined). Participation fee: €55 (Excl. VAT) and €75 (Excl. VAT).
Meeting with Chinese delegations – 21 September 2015
By : fcccadmin
Meeting with Liaoning Governor – 21 September
On Monday 21 September, the Governor of Liaoning Province, Mr Chen Qiufa, and his delegation, comprised of representatives of the Liaoning government visited Flanders. They had a meeting with the Government of the Province of East Flanders, Governor of the Province of East Flanders, Mr Jan Briers and Mr Geert Versnick, Vice Governor of the Province of East Flanders in charge of European and International Cooperation and International Affairs. The Flanders-China Chamber of Commerce (FCCC) was represented by Ms Gwenn Sonck, Executive Director.
Both sides introduced the strengths of each others provinces and discussed cooperation possibilities. The delegation also visited Bekaert, where the delegation was joined by the Vice Mayor of Shenyang, Mr Yang Yazhou. Bekaert and Recticel have important investments in Shenyang.
Meeting with Tianjin delegation – 21 September
On Monday 21 September, a delegation of entrepreneurs, led by the Director of the Tianjin Office of the Langfang Municipal People’s Government and the Secretary-General of the Tianjin-Hebei Chamber Of Commerce, was received by the Province of East Flanders, Mrs Astrid Vliebergh, Director and Gwenn Sonck, FCCC. The delegation introduced their companies’ activities. Interested companies can obtain further information by sending an e-mail to: info@flanders-china.be.
More EV charging facilities to be built
By : fcccadmin
The Chinese government has promised to build more charging facilities for electric vehicles. The number of stations will be increased and standards for charging ports will be unified so that they can be used by all vehicles, Zheng Shanjie, Deputy Director of the National Energy Administration (NEA), said. The government decided that all new residential complexes should ensure that parking lots have charging facilities, while no less than 10% of parking lots in large public buildings or public car lots should have charging facilities. In the first eight months of this year, sales of green vehicles rose 270%.
Hong Kong best for career advancement
By : fcccadmin
Hong Kong is the best place in the world for expats to advance their careers, but it ranks behind Singapore and Taiwan as a place to live and work, according to a survey by the research firm YouGov and commissioned by HSBC. The study sought views from more than 21,000 expatriates from 198 countries over three months earlier this year. The average salary of Hong Kong expats questioned was more than USD176,000 per year, about USD70,000 above the global average. New Zealand and Sweden took second and third places respectively, while China ranked 27th in the survey – putting it behind Saudi Arabia and Vietnam.
Fanya Metals Exchange investors protest
By : fcccadmin
Investors in financial products of the Fanya Metals Exchange in Yunnan province protested in Beijing after they could not withdraw their investments. More than 400 of these so-called commodity exchanges have mushroomed in China in a regulatory void and attracted CNY1 trillion in investments. They are now all under scrutiny. The angry investors, wearing T-shirts calling Fanya a “scam”, demanded the central government investigate Fanya for defaulting on CNY36 billion it owed investors. The exchange had promised double-digit returns on a punt on metal prices increasing, a bet that went wrong as commodity prices collapsed worldwide. “The China Securities Regulatory Commission (CSRC) does not have the power to regulate regional exchanges,” said a CSRC source who did not want to be identified. Geng Shuang, Senior Lawyer based in Guangzhou, said: “Spot markets come under the ambit of the Ministry of Commerce while securities and futures markets are under the CSRC. These so-called spot-trading exchanges are structuring contracts and complicated financial products based on commodity spot prices, creating a regulatory uncertainty. As a result, neither the Ministry nor the CSRC minds them at present.” China Financial Trading, an industry data provider, has identified 653 commodities exchange houses in China trading more than 200 commodities on their platforms. The Fanya exchange, which claims to trade 14 minor and rare metals, including indium, bismuth, tungsten, antimony and cobalt, is an example of the risks that such exchanges present, the South China Morning Post reports. Fanya’s product, named “ri jin bao”, promised an annual return of 13.68%, guaranteed principal and instant redemption. It could be bought online by retail investors all over China.
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