Opportunities for Italian Companies in Greater China
While China has taken big steps towards becoming a vital player in the international economy, Hong Kong still holds a special position as a stepping stone for both China and the rest of the world. In this sense, Hong Kong is extremely important to China, not only as a vital investment hub in and out of the country, but also as a kind of experimental ground with full access to the global economy.
Over 350 Italians companies in automotive, banking, food & wine and luxury goods, of which 100 are HQs and regional offices, have already set up their operations in Hong Kong. With its recent removal from Italy’s national blacklist, even more Italian companies will be able to take advantage of the many strategic benefits Hong Kong offers as the gateway to China and Asia. Hong Kong is still the preferred city for foreign businesses, due to its low tax regime, access to international capital markets, its status as a RMB and transport hub, and its sound rule of law and stable financial system.
The Greater China experts of Fiducia Management Consultants, Studio Caramanti Ticozzi & Partners, and Unicredit Italy held a joint seminar entitled “Greater China Business Trends and Corporate Strategies” in Milan on Tuesday, June 21st 2016. Over 25 people attended the event in the beautiful, historical building of the former UniCredit Headquarters. Attendees had exclusive 360° access to expert advice on setting up operations in Hong Kong and China. The discussions covered market, taxation, legal, and financial aspects, with a special focus on new trends and strategies emerging in Greater China and their impact on international businesses.
Thaddaeus Mueller, Director of Fiduica Management Consultants kicked off the event by addressing the importance of understanding China’s “New Normal”. He highlighted how Italian companies can maximise Hong Kong’s benefits for setting up and expanding into China, and what mistakes to avoid when entering the Chinese market. The topic of new tax opportunities for Italian-Hong Kong business followed by Francesco Mangiameli, Partner of Studio Caramanti Ticozzi & Partners, who explained the Double Taxation Treaty between Hong Kong and Italy and the changes to Italy’s tax and domicile black-lists. Maurizio Brentegani, Managing Director of Unicredit Italy, detailed the Chinese economic outlook and gave an overview of Italy’s exports to China, as well as Unicredit’s presence in Asia and why it is never too late for Italian companies to start business in and with China.
The event concluded with a vibrant Q&A session, followed by networking with delicious food and drinks. The feedback from attendees was positive, who found the information presented by the speakers highly relevant for Italian companies. “It is rare that I can have full access to China experts in Italy. I was able to have all my questions answered directly at this seminar”, said one of the guests.
Fiducia Management Consultants and Studio Caramanti Ticozzi & Partners are both long-standing members of AGN International, an association of separate and independent accounting and advisory businesses, who deliver assurance, accounting, tax, and advisory services, worldwide.
Please email us at firstname.lastname@example.org if you wish to discuss your business in Greater China.