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[Exclusive Interview] EU companies in Guangdong well-prepared for rising labor cost

2015-October-30       Source: Newsgd.com

Mr. Alberto Vettoretti is the Chairman of South China Chapter of European Chamber of Commerce of China. Recently, he accepted the invitation of an exclusive interview with Newsgd.com, discussing about the European companies running business in Guangdong.

Newsgd: For the newly-operated Guangdong Pilot Free Trade Zone, you have said in previous interview that many members of the chamber express their willingness of investing in FTZ. Would you please name some companies that have invested in the area so far?

[Exclusive Interview] EU companies in Guangdong well-prepared for rising labor cost

Alberto Vettoretti, Chairman of European Chamber South China Chapter delivered a keynote speech on July 2 on the launch event of South China Position Paper 2015/2016. (Photo/Newsgd.com)

Vettoretti: We've seen a large number of European companies investing in the E-commerce market. This is being quite popular.

We've seen also logistics services, warehouses services, which are also connected to the e-commerce and trading market, in and out of the FTZ.

Some of our members are also involved into warehousing for Asia. Some of them are warehousing fresh fruits which require very fast clear of custom. FTZ in this regards are very very good locations, because they control on goods of coming in and going out and it's very efficient.

So we've seen more manufacturing in Nansha. A bit more banking and insurance sector moving into Qianhai and Shekou. We've seen some division of EU banks looking at this.

Newsgd: What are the advantages to invest in FTZ?

[Exclusive Interview] EU companies in Guangdong well-prepared for rising labor cost

Vettoretti: If you look at the negative list, the areas are opened faster, better than the rest of the territory. In term of sector which could do very well, we can look at the medical sector, for example running facilities. And some of the sectors which are not yet opened in the rest of the territory.

If you look at education, for example, FTZ could be a great testing ground for welcoming international schools, international education institutions to set up their own campuses in the sector which is still restricted in China. And also services from legal services to tax and accounting services.

In our opinion, the FTZ is a China Game so far. I would say the involvement of EU companies and foreign companies as part of all investment has been minimal to be honest. But of course, it's just started. We hope with the new way of regularization and new negative list coming out. We will see more and more European companies coming to invest.

More about the interview:

EU companies see huge market in E-commerce of China

Depreciation pushes RMB an international currency: EUCCC

Related story:

"New Normal" means slower but more qualitative economic growth: EUCCC

EuCham urges high-tech transition of economy in Guangdong

European companies: IPR challenge remains in Guangdong

Editor: Chan

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