The City of Ghent has become a new structural partner of the Flanders-China Chamber of Commerce (FCCC). With its 252,000 inhabitants, Ghent is the second largest city in Flanders. Over 70,000 students make Ghent the largest student city in Flanders, including Ghent University that ranks 71st on the ‘2015 Academic Ranking of World Universities’. The young heart of the city boosts innovation and creativity. Ghent is a city that combines a strong logistic and industrial complex and hi-tech knowledge activities. The city’s seaport provides over 60,000 jobs and generates a surplus value of €6,7 billion. The city is developing a pro-active approach to attract activities of world-leading companies that strengthen the existing industrial clusters in the cleantech, biotech, materials and ICT sector.

Ghent is linked with China in various ways:

• In November 2013 Ghent and the Chinese city of Weihai signed an agreement within the context of the China-EU Partnership on Sustainable Urbanization.
• Various companies in Ghent do business with China. Volvo Car Gent is one of the biggest employers of the Ghent region. The factory is part of the Volvo Car, owned since 2010 by China’s Geely Holding Group.
• Ghent is an attractive city for Chinese tourists to visit.
• The City of Ghent, together with Ghent University, the Flanders-China Chamber of Commerce and Port of Ghent form the China Platform, a central point of contact for all matters relating to China. It directs, coordinates and supports initiatives in education, research and business.

The EU-China Business Association (EUCBA) has published the first issue of the quarterly EUCBA Bulletin. In the EUCBA Bulletin important developments in EU-China relations will be highlighted in a periodical manner.

Lord James Sassoon, President of the EUCBA, introduces the Association and its aims. H.E. Hans-Dietmar Schweisgut, Ambassador of the European Union to China, presents his views on EU-China economic and trade relations, while H.E. Madam Yang Yanyi, Ambassador of the People’s Republic of China to the European Union introduces China’s important “One Belt, One Road” initiative.

In the current issue we focus on the “Position Paper 2015/2016” of the European Union Chamber of Commerce in China. We also bring you a news round-up, announcements from the EUCBA and last but not the least news from EUCBA members and companies. If you have a story to contribute to the EUCBA Bulletin, please feel free to mail it to Mrs Gwenn Sonck, Secretary General of the EUCBA.

The EU–China Business Association (EUCBA) is the EU-wide federation of national non-profit business organizations in the European Union with specialization and particular expertise in exchange of knowledge on investments and trade with China. Currently, EUCBA unites 18 members in 18 countries representing large, medium, and small companies, in all branches of industry, commerce and the service sector.

Website: www.eucba.org

Zhejiang Geely Holding Group Co began construction of its new-energy car manufacturing base in Guiyang, capital of Guizhou province. The factory is the first passenger car manufacturing base in the province. Geely is aiming to make its first methanol-powered car in 2017. The total investment is around CNY10.2 billion. When completed, the base will be able to generate an annual output value of CNY27 billion. Guizhou is a pioneer in methanol development, and one of the four provinces that have been designated as methanol car pilot program bases by the central government. Geely announced its “Blue Geely” plan on November 18 with a view to produce 1 million units of new-energy cars. Geely unveiled its first electric car during the Guangzhou Auto Show in November, priced in the range of CNY228,800 to CNY249,800.

Evergrande Real Estate Group, one of China’s largest property development companies, has launched an ambitious plan to expand into the insurance sector, after taking a stake in a joint-venture insurer. Evergrande Nanchang, an indirect wholly-owned subsidiary, will pay USD617 million for a 50% stake in Great Eastern Life Assurance (China) Co – a Chongqing-based joint venture originally formed between the city’s government and Singapore, which offers life, health and accident cover. Zhao Dongmei, who will chair the life insurance business, said Evergrande’s high-profile brand and large number of customers created a solid foundation for business growth, setting a target of more than CNY100 billion in business by the end of 2018. Reuters reported that Evergrande will promote the insurance services in its more than 300 new housing developments. It said Evergrande will buy the shares held by the Chongqing City Construction Investment (Group) Co and the Chongqing Land Group. The Chongqing Casin Group Co and Great Eastern Life Assurance will each retain their 25% holdings. Based in Guangzhou, Evergrande has tapped into other sectors including bottled water, sports, medicine and culture, the China Daily reports.

Beijing’s direct investment in Hong Kong during the first nine months of this year reached USD3.55 billion, up 135.57% year-on-year. The investments involved 142 companies, and accounted for almost 51% of the Chinese capital’s total outbound direct investment (ODI). Investment was mostly in leasing, business services, wholesale and retail, scientific research and technological services, according to the organizing committee of the 2015 Beijing-Hong Kong Economic Cooperation Symposium, which was held in Hong Kong on November 27. The projects signed between Beijing and Hong Kong during the symposium were expected to account for 40% of the total. Hong Kong’s investment in Beijing, which has become more diversified over the past few years, has helped many Beijing enterprises grow. More than 500 enterprises and organizations from Hong Kong attended the symposium. In 2014, Beijing’s direct investment in Hong Kong reached USD2.451 billion, or 45% of the city’s total overseas direct investment. On the other hand, Hong Kong has also set up 606 new companies in Beijing with an investment of USD9.52 billion in the first nine months of this year, an increase of 97.9% year-on-year, accounting for 77% of the city’s overall overseas investment. As of the end of September, Hong Kong, which ranks first among all overseas investors, had 13,946 enterprises in Beijing, with actual investment totaling USD43.27 billion, accounting for 43.3% of the city’s total overseas investment, the China Daily reports.