Event report

Past Event | Navigating China's Changing Landscape: Remote Operations and Reopening Borders

Thank you very much to our esteemed speaker Marco D’Amore, Managing Partner at Orcom  C&A for the insightful presentation and skillfully moderating the roundtable “Navigating China's Changing Landscape: Remote Operations and Reopening Borders”

Key learnings of the session:

  • China has fully reopened with all visa policies restored, and local consumption has resumed with a growth of 5%. The travel retail industry outside of Asia is expected to pick up from the third quarter onwards.
  • The tax incentives introduced by China post-COVID are here to stay, and district-level negotiations will determine specific incentives on a case-by-case basis.
  • Successful companies are adding value to their products and services by establishing local R&D facilities instead of simply adapting existing products to local requirements. The strengthening of IP law protection and the reduction of the Foreign Investment Catalogue Negative List will facilitate this process.
  • The Chinese government's objective is to achieve technological self-reliance. The use of local digital tools and platforms such as WeChat, DingTalk, or Feishu, as well as local ERP systems, can enhance collaboration with local management while minimizing the risks of potential technological decoupling.
  • Due to a negative image, foreign senior executives are increasingly hesitant to include China in their career paths. This has resulted in a shortage of foreign talent and an acceleration of Sinicization in management. In this context, the implementation of supervision tools such as internal audits, SOD processes, or outsourcing seal management is crucial to build trust and ensure compliance.

 

For more information about Legal & Compliance Committee, contact Vanessa Hobbs  vhobbs(@)fccsingapore.com

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