The Flanders-China Chamber of Commerce and the EU SME Centre in Beijing organized a seminar focused on ‘How to Tackle a Changing China’. The seminar covered two sessions. The first was delivered by the EU SME Centre’s Director Chris Cheung, who provided an overview of the recent changes in the Chinese business environment and the opportunities and challenges that arise as a result. The Centre’s Business Development Advisor, Rafael Jimenez, then discussed the increasing trend of Chinese overseas direct investment to the EU and what this means for EU SMEs. “in China” was introduced by Ji Bo, Chief Representative, Cheung Kong Graduate School of Business Europe, and Assistant Dean, Global Executive Education.

The seminar was organized on 18 May at Agfa-Gevaert in Mortsel. It was concluded by a Q&A session followed by networking. The briefing was organized with the support of Flanders Investment & Trade and the EU-China Business Association.

After 11 years of personal efforts, Bert De Graeve (Chairman Bekaert) stepped down as Chairman of the Flanders-China Chamber of Commerce. It was decided at the General Assembly of the FCCC on May 27, 2016, that Stefaan Vanhooren would take over as Chairman. Stefaan is the President of Agfa-Graphics and Member of the Executive Committee of the Agfa-Gevaert Group. Since the establishment of the FCCC, Stefaan has been Vice-Chairman of the FCCC and he has accumulated many years of experience doing business in China.

Stefaan wishes to thank the departing Chairman for his efforts over many years. Bert De Graeve’s efficiency and vision made the FCCC a powerful voice for Flanders-China relations.

“I am ready to devote myself totally to further strengthening the networking and dialogue between the business and scientific communities of Flanders and China. I look forward to working with new partners in many areas,” Stefaan Vanhooren.

Mr. Bart De Smet, CEO, AGEAS and Mr. Philippe Van Der Donckt, Business Development Director, UMICORE, will both take up the Vice-Chairmanship of the FCCC.

Mr. Philip Eyskens, General Counsel and Vice-President Mergers & Acquisitions at Bekaert has joined the Board of Directors.

The Asian Infrastructure Investment Bank’s first annual meeting will be held in Beijing on 25-26 June, at the China World Hotel. The first day is the formal business and a short seminar programme will take place on 26 June. There is open registration for the seminar programme, and any business or other organisation can apply for registration as guests to attend the seminars at http://aiib.eventbank.cn/event/5464/

AIIB welcomes business representatives to take part, and it may be a useful way for them to find out more about the Bank. The registration deadline is May 30.

Car-rental firms have their eyes on China’s 327.37 million drivers that were licensed as of the end of 2015. That compares with about 124 million cars in private hands, according to the Ministry of Public Security. The bigger the gap, the greater could be the demand for rentals. The country’s biggest car-rental company, CAR, has a fleet of 88,853 vehicles. Its first-quarter net profit soared 55%, compared with a year earlier, to CNY274 million. Sales rose 56% to CNY1.63 billion, while car-rental revenue climbed 36%, according to a report by Leon Chik, a J.P. Morgan Analyst. Its fleet utilization increased two percentage points to a record 64.2% in the first quarter. Some of the reasons behind the surge in demand for rental cars also include measures to control the chronic air pollution in major cities as well as congestion, which are making it less appealing for people to own cars. In addition, those living in cities but who lack a hukou, or household registration, that grants them full rights to healthcare and other benefits, cannot buy cars, even though they may have driving licenses. So the gap between the number of qualified drivers and actual car owners will continue to expand. Among the biggest threats to the car rental business is the rise of online car hailing services like Didi and Uber, whose aggressive pricing has lowered demand for rental cars.

China said that its overall government debt level remains controllable and there is still room for further increasing debt. The Ministry of Finance said that by the end of 2015, the central government debts “subject to budgetary management” totaled CNY10.66 trillion, while such debts of local governments were CNY16 trillion. Combined, they account for 39.4% of China’s GDP, it said. China’s overall government debt ratio was about 41.5% in 2015, lower than the warning line of the EU, which is 60%, the Ministry said. The ratio was also lower than that of major and emerging market economies. Last year, the local government debt ratio was 89.2%, which is also lower than the generally accepted warning line of the international community. China’s local government debts are backed by high-quality assets, so their repayment is not considered to be a big problem. The repayment will also be supported by China’s expected medium to high economic growth, the Ministry of Finance said.