China's commitment to cap carbon emission by 2030 reflects their efforts to do what is good for the world. Right now China accounts for 30% of global emissions. To reduce their carbon footprint China has to focus on adjusting their energy structure and begin supporting more eco-friendly lifestyles, such as the country's booming electric vehicle sales. Green growth will definitely become one of the major drivers for technological innovation to reach their goals.

Covid19 vaccinations have naturally become a hot topic, as they are the key to resuming free travel and to help international business recover. The situation in Europe is still relatively chaotic due to problems with vaccine delivery, but China seems to have remained stable with it's usual systematic approach. They are aiming to vaccinate 70-80% of the population and expect to reach halfway point by the end of June. Foreigners will be receiving vaccinations as well. With a production capacity for 2.4 billion vaccinations this year, China is perfectly self-sufficient when it comes to vaccination.

 

With domestic travel restrictions lifted, business travel within China is booming once more. Team Finland held a kickoff event for the new term at the Ambassador's residence late March, and several business delegations are being planned. The Ambassador or Consul General will be leading the delegations to Nantong in April, Hubei in May, as well as Shanghai in June. These delegations have become the most effective method for helping our companies expand their business to new areas.

 

Our Finnish Business Council's 2020-2021 term is coming to an end. On April 22 we will hold the AGM. Invitations will be sent two weeks prior to the meeting. We've been very happy to see the number of our memberships grow strongly during this past term. Our guest writer this week comes from Teknos, one of our newest members.

On the behalf of FBCB, I wish you Happy Easter & Tomb Sweeping (Qingming) Festival

Ulla Nurmenniemi

Executive Director

Finnish Business Council Beijing

China's export number are prone to be fluctuated dramatically in the first quarter due to the Spring Festival, and the COVID-19 which outbroke in the first quarter of last year further amplified the effect. This article attempts to analyze the base effect, and observe the "truth" of the export.

Looking forward, China export may show the following changes:

Read the whole report HERE

The new Individual Income Tax (IIT) Law became effective on 1st January 2019, after a series of relevant regulations and rules were unveiled in late 2018. Following rules and regulations with practical guidance on taxation and filings were released gradually.

The amended IIT Law introduced a basket of fundamental changes that affect the tax system at its calculation, application, and enforcement stages, for both Chinese and foreign nationals. Key changes were:

1. The Tax Residence in China - "Six-Year Rule";

2. Individual Income Tax Calculation Method;

3. Itemized deductions for local employees (and foreign residents in China);

4. Procedures for claiming itemized deductions;

5. End of Expatriate Allowances - by 2022;

6. Annual Bonus Policy.

According to the current announcement, the housing allowance, language training fee and children's education subsidy will be discontinued after 2021. This may hit hard especially on expats with children, as tuition fees in international schools are very high.

Finland-China Business Association webinar invitation: Digital Marketing in China for Business Growth April 27. In this webinar, we will share the Chinese digital and social media landscape introductions in depth, as well as the tips, cases, and suggestions on how Finnish business can grow via these channels. Our speakers are Ms. Kristina Knut, Marketing Director of KAWO, and Mr. Rixin Jiang, CEO of Nordic Friend.

Read more HERE and register HERE.

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Regional Comprehensive Economic Partnership agreement (RCEP) in Asia-Pacific and its implications to European companies, on April 14

The agreement is the first free trade agreement between China, Indonesia, Japan, and South Korea, four of the five largest economies in Asia. It is predicted to offer significant economic gains for signatory nations, as well as help pull the economic centre of gravity back towards Asia. 

Please join the Asia-Pacific Business Associations, The Ministry for Foreign Affairs, and expert speakers to discuss the effects of the agreement to European and Finnish companies already operating in the area or planning on entering the region.

Read more HERE 

Just like nature protects and preserves all its precious resources, our aim is to offer smart, sustainable coating solutions to protect and prolong the lifespan of all the things that you care for. ​

Ever since we started off 1948 in a small hen house, our relentless strive has been to offer the best solutions and services in close partnership with our customers. ​

With our unique history, experience, family company roots and culture, we have engaged with enthusiastic professionals, partners, and customers and together we can make the world last longer. ​​

We strive, in every possible way, to help our customers find the ideal solution for their particular purposes. Utilizing thorough research as well as feedback from various market areas, we continuously develop our product range to ensure the best possible customer satisfaction. Combined with our wide knowledge and history of providing industry-leading quality for decades, we are confident in our product range’s ability to solve any coating challenge, in any specific situation. We have a strong focus on environmental issues to ensure we meet, and even exceed, the diverse needs of today.

To us sustainability is a mindset. It is integrated in our strategy, business model and over everyday work. We are highly committed to delivering our contribution to protect the planet and make the word last longer. Our sustainability program aims to create sustainable long-term value for our stakeholders including our customers, employees, suppliers and the society.

Innovation is at the heart of Teknos. The company was founded on innovation, and ever since the very beginning finding new solutions, technologies and ways of working has been at the center of everything we do. Innovations are also at the core of our strategy. Our ambitious goal is to be perceived as the most innovative partner in the coatings industry. For us, innovation are not only new products but also new services, new business areas, new technologies and new ways of working----everything that helps our customers succeed. 

Finnish Business Council Beijing is part of Team Finland in China, and an outstanding platform for all Finnish businesses in China. For those companies which need more visibility, we have launched a Premium Membership. It's an upgrade from normal membership, as you can see from the table below.

For those companies in Finland, who are planning to expand their businesses to China, or are in the early stage and don't have an office in China yet, we have a distant membership. It's called Proxy Membership. A very cost-effective way to make your company known to a large audience, and get essential contacts for your future.

See all membership options HERE