The legal environment for foreign companies in China has been undergoing some important changes in recent years. Most of these evolutions are directly linked to the implementation of China’s economic reform plan and of the rule of law, which is being promoted as an essential element thereof.
The Flanders-China Chamber of Commerce (FCCC) organized a seminar in Brussels on October 23 to discuss how these reforms affect daily operations of foreign companies in China.

The seminar was presented by Mr Philippe Snel, who has been practicing as a foreign lawyer based in Shanghai for the past 10 years, advising foreign companies about the intricacies of Chinese law. He shared some of his insights with regard to the reform and the practical consequences it has on foreign businesses in China.

His presentation dealt with such issues as: legal compliance and risk management, the growing importance of labor laws, the increased tax scrutiny on foreign companies, the implementation of strict regulatory frameworks for several industries (e.g. food, advertising), the influence of environmental protection laws and the promises of the China (Shanghai) Pilot Free Trade Zone.

The Province of West Flanders and the Flanders-China Chamber of Commerce (FCCC) in cooperation with POM West Flanders, Flanders Investment & Trade, Howest Confucius Institute and the Zhejiang Federation of Industry and Commerce are organizing a banquet and seminar on ‘Business opportunities between China and West Flanders’. This event will take place on Monday 23 November 2015 at 11h45 at the Provinciaal Hof, Markt 3 in Bruges.

The programme is as follows:

Banquet

11.45     Registration of the participants
12.15     Welcome by Carl Decaluwé, Governor of the Province of West Flanders
The importance of the bilateral cooperation between West Flanders and Zhejiang by Zhang Lijun, Representative of the Embassy of China in Belgium
12.30     Lunch

13.50     Conclusion by Mr Jean de Bethune, Vice Governor of West Flanders

Seminar ‘Business opportunities between China and West Flanders’
Moderator: Stefan Blommaert, VRT

14.00     Welcome by Carl Decaluwé, Governor of the Province of West Flanders
14.10     Opportunities for doing business with China by Ms. Gwenn Sonck, Executive Director, Flanders-China Chamber of Commerce

14.30     Parallel workshop

• Workshop ‘Business opportunities in West Flanders’ by Mr Robrecht Declercq, staff member POM West Flanders
• Workshop ‘Business opportunities in Zhejiang’ by Mr Li Renzhi, Vice President Zhejiang Federation of Industry and Commerce

15.15     Coffee Break
15.30    Testimonials

• Mr Yu Dongsheng, General Manager, China Shipping
• Mrs Chai Hui, General Manager, ICBC
• Mr Francis Geeraert, Mangaging Director, V-Cons Group
• Mr Hans Feys, Managing Director, Pluviose
• Mr Xavier Vanneste, Managing Director, Halve Maan
• Mr Kurt Dobbelaere, Managing Director, European Trade Belgium

16.30     Conclusion by Jean de Bethune, Vice Governor of the Province of West Flanders

If you are interested in attending the banquet and/or the business seminar, please register online via the following link:

http://www.west-vlaanderen.be/inschrijven/Paginas/20151123_banket_en_seminarie.aspx

The EU SME Centre in partnership with Eurochambres and the EU-China Business Association (EUCBA) is organizing a two-day training programme in Brussels that will take a closer look at China’s macroeconomic trends, new initiatives, financial market, EU-China Comprehensive Agreement on Investment and more.

The two-day training will take place on 12 and 13 November 2015 at the Thon Hotel EU, Rue de la Loi 75, 1040 Brussels.

If you work in an intermediary organisation that offers services for European companies to do business in China, this training will get you up to speed with the latest market news and business tools.

Day 1 Topics | 12 Nov, 08:30 – 19:00

• The slowing down of the Chinese Economy and the New Normal of 7% GDP growth – How do these affect European companies interested in doing business in China?
• China’s changing demography, consumer behaviour, health care reform in China, emerging service economy and its geo-economic policy: a challenge or an opportunity?
• Reforms in China and the anti-corruption campaign – a thorough look inside – including examples and cases
• Set up in China in a view of recent legislation changes and update on upcoming new Investment Law as well as opportunities in the China (Shanghai) Pilot Free-Trade Zone
• Chinese Overseas Foreign Direct Investments – How should EU SMEs position themselves to attract Chinese OFDIs?

Day 2 Topics | 13 Nov, 9:00 – 17:30

• Stock market in China, Yuan devaluation, RMB internationalisation, shadow banking: How does all this affect European companies active in China?
• China’s One Belt One Road Plan; Creation of the Asian Infrastructure and Investment Bank and the link to the Juncker Investment Plan: How can EU SMEs profit from it?
• EU-China Comprehensive Agreement on Investment (CAI): What are the public perceptions in Europe and China and where are the advantages for EU SMEs?
• Opening spaces: export opportunities for environmental technologies to China
• Made in China 2025: What is behind this new Chinese industrial policy and can it be beneficial to European SMEs?
• E-Commerce in China
• Exporting to China: New Quality and Safety laws

To view the full agenda, click here. Fee: €600.- (2-days training incl. accommodation costs). Register here. If you encounter any issues opening the registration form or have any questions about the training, please contact Mr Alexander Alles at Alexander.Alles@eusmecentre.org.cn

British car brand Bentley is targeting luxury SUV buyers in China with its new Bentayga model costing CNY3.98 million. Ricky Tay, Managing Director for Greater China at Bentley, said the company’s sales for the year would be lower than 12 months ago but still within expectations. Bentley’s sales last year rose by 22% over 2013, with 2,670 cars delivered. The potential of the SUV market was huge, Tay said. The marque unveiled its latest model at a marketing event in Chengdu in Sichuan province. The SUV is the first for the 96-year-old British brand. “We are entering a new segment, and we are creating a new segment – it’s a segment that doesn’t exit because there are no luxury SUVs,” Tay said. China’s SUV market outperformed the overall car market, seeing 60% growth this year, although most SUV vehicles were priced below CNY100,000, he said. Lamborghini and Rolls-Royce have also announced plans to launch luxury SUV models. Tay welcomed rivals, saying it showed the market had potential.

The National Development and Reform Commission (NDRC) and the State-owned Assets Supervision and Administration Commission (SASAC) have, in a rare intervention in the bond market, pre-empted a potential default by Sinosteel. This is the first time state regulators have intervened in a corporate credit case. In the five previous cases in the country this year, the companies were bailed out by shareholders. “You can’t get to a liberal and open market where nobody fails,” said Jini Lee, a partner at law firm Ashurst. “There has got to be some controlled defaults along the way if it is to transform into a market-driven economy.” Lee previously advised the Ministry of Finance on its first offshore listed bond issue. Sinosteel debt holders were first asked not to redeem the bonds and then told the redemption date would be delayed by a month to November 16. Sinosteel’s debt-equity ratio has been hovering above 90% in recent years. More corporate bond defaults might become the norm as the slowdown deepened, Nomura China Chief Economist Yang Zhao warned. Company issues make up only 4.3% of the country’s CNY35 trillion bond market. Most of the bonds in the country – 70% issued by the government and policy banks – are still held to maturity. Cases like Sinosteel’s will start to test the robustness of the nation’s bankruptcy laws, information disclosures and the soundness of its credit rating system, the South China Morning Post reports.