Meeting with Department of Foreign Investment of Ministry of Commerce (MOFCOM)

2021-04-14 | Beijing

On 14th April, the European Chamber led a delegation of representatives from six working groups (WG) to meet with the Department of Foreign Investment of the Ministry of Commerce (MOFCOM). The Chamber delegation was led by Head of Government Affairs Zhang Ziting and comprised of representatives from the Agriculture, Food and Beverage (AFB), Finance and Taxation, Maritime Manufacturing & Industrial Services, Non-Banking Financial Institutions (NBFI) and Insurance WGs as well as the Quality and Safety Services (QSS) Sub-WG. The MOFCOM delegation was led by Deputy Director General Meng Huating and joined by representatives from relevant departments.

Topics of discussion included the planned removal of individual income tax (IIT) benefits for foreign nationals, resumption of the cruise business, market access issues in the AFB and QSS sectors, and licensing issues in the insurance and NBFI sectors. The MOFCOM delegation was open to the recommendations, promising to give them serious consideration and urge the relevant authorities to further facilitate foreign investment in the China market.