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FBCS June 2016 Newsletter

Published: Thu / June 30 / 2016

Dear Members and Friends of the FBCS,

This is our last Newsletter before the summer holidays. We will not send out any event invitations or newsletters until end of August. Our FBCS Team and Board would like to take this opportunity to wish everyone a relaxing summer!

Past Events

This June started with a successful HR Group training. The training was overbooked, the participants were involved and the discussion was lively. Please note that all FBCS members are welcome to join the fully Chinese-language HR Group. It is free of charge, and an excellent way to receive latest news in the HR field and share experience of working in HR between the Nordic and the Chinese cultures.

We finished our spring session of the Chinese language Leadership Training. Please check below details on the autumn training and sign up, the course filled fast last time.

June 15th we had a highly interesting factory visit to KONE in Kunshan. Our hosts Emma Falck and Janne Kuisma introduced KONE and took the visitors up to the test tower.

On the 23rd of June we had the Inter-Chamber Summer Mixer at the Shanghai Tower. Almost 500 people from the 15 chambers in Shanghai were present.

Today, June 30th, we have a joint event with the Swiss Chamber on the Commercial Real Estate Markets in Shanghai.


Upcoming Events

Upcoming Events in Shanghai

We have some highly interesting events coming up this autumn:

  • September 23-24th, all Nordic Business Councils and Chambers combine forces to produce the first ever Nordic Business Forum in Shanghai. The process is led by the Norwegian Business School, and the programme will include two full days of seminars, discussions and workshops.
  • Starting September 19th we have a Chinese-language Leadership Training together with the Danish and Swedish Chambers. We only have limited seats, so please book your seat soonest, latest August 31st.
  • Don’t forget to pencil in Slush in Shanghai on October 31st
  • Due to bad weather the Intra-Nordic golf event was postponed to autumn

For FBCS event details visit FBCS pages.

Upcoming Events in Beijing

Summer Greetings from Finnish Business Council Beijing

FBCB is also starting a short summer holiday. The office will be closed from July 4th to July 15th. FBCB will be back with events in August, including the signature Kickoff Evening on August 23rd. To stay updated, check FBCB pages.

Upcoming events in Hong Kong

  • July 15th, Nordic Summer Lunch
  • August 26th, Nordic Summer Lunch
  • September 23rd, Annual Crayfish Party
  • November 25th, Annual Finland Gala

For Hong Kong event details and sign up information, visit HK Chamber pages.

Upcoming events from Team Finland

  • Ongoing currently, June 29th – July 1st, Mobile World Congress in the Shanghai New Exhibition Centre (SNIEC) is a good opportunity to for ICT companies to network. Team Finland has a booth in Hall 1, next to Nokia. More information at link
  • July 28-31st, China Joy in Shanghai is meant for companies within gaming and digital entertainment sphere. More information at link
  • November 4 – 14th, Nordic Design and Innovation Week (NDIW) kicks off in Daning Shopping Centre in Shanghai. Team Finland is looking for companies to participate around a team Children and Youth. More information from Ding.Ma@formin.fi or Cuilu.Fa@finpro.fi.

More information from Ding.Ma@formin.fi or Cuilu.Fa@finpro.fi.

Hot in China

There are, as usual, several layers of issues simultaneously on-going in China:

  • China is removing financial support from 179 industrial areas to better comply with the WTO rules.
  • The VAT reform places the most important service sectors, such as construction & housing, financing, insurance as well as several consumer services under the VAT system. They were earlier subject to business tax, and thus progressive taxation.
  • Consumers are spending more; unlike in the Western countries Chinese consumer confidence has never been linked to macroeconomic indicators or the stock market.
  • One of the favourite ways to consume is travel; Chinese tourists made 130 million overseas trips using 292 billion USD in 2015. While this is a large number, domestic travel is in a league of its own; domestic and foreign visitors made 4.1 billion trips in China bringing a revenue of 4 trillion RMB (over 600 billion USD). Brexit, and the corresponding reduction in the value of the Pound is already increasing Chinese travel to the UK.
  • China registered over 1 million patent applications in 2015, exceeding five-year targets by 10% and providing about 1/3 of the global patent applications. Current goal for 2020 is 2 million patent applications per year.
  • Average Chinese internet user spends almost 3.5 h/d on their mobile. Much of that is spent shopping; Taobao alone provides over a billion items to sell luring in over 150 million (almost 50% of US population) to use their APP every day. According to China Skinny an average WeChat payer makes 54 transactions every month. This would be twice that of an average US consumer using both debit and credit cards.

Sources: BOFIT, China Daily, Bloomberg, China Skinny