GWA presents "China Plus One" Shanghai Edition

The China-Italy Chamber of Commerce (CICC) together with Greatway Advisory (GWA) are pleased to announce the successful conclusion of the China Plus One (C+1): Business Talk & Executive Networking event, held on June 29, 2023, in Shanghai.

To discuss the current situation in China, GWA and the CICC gathered about thirty guests among clients and friends of the firm, foreign and domestic companies, industry leaders, and relevant enterprises for an executive meeting to share perspectives, seek expert opinions, and analyze relevant business cases.

On June 6, 2023, the same format was successfully held in Vietnam by GWA's team in Saigon, Vietnam. Considering the relevance of the topic and to have the most possible comprehensive view of it, GWA decided to host the business talk in all their branch offices.

Our guests were invited to share their expert opinions according to their specific fields, particularly from the investments, banking, finance, manufacturing, and retail standpoint.

Mr. Giovanni Pisacane - GWA Managing Partner, opened the business talk welcoming our guests and brining GWA as a China Plus One business case to the attention of the audience.

The keynote speakers were

• Mr. Jay Chen - Sace Spa Representative for China and East Asia. Mr. Chen reported the current situation from his point of view and in consideration of his client ventures in the region, while also introducing some of the tools that Sace deploys to support its clients in China and Southeast Asia.

• Mr. Andrea Apolloni - Professor in Sustainable Global Operations Management at the University of Rome Tor Vergata and Associate at CNR (Italian National Research Council). Professor Apolloni summarized the innovative and sustainable trends to be leveraged for collaboration between Italy, China, and ASEAN Countries within the framework of the Sustainable Global Supply Chain.

• Mr. Massimiliano Palaia - Caprari Pump Manufacturing Co., Ltd. General Manager representing also Wateralia Group, gave an overview of the group in the light of C+1, and its business perspective from a manufacturing standpoint.
• Ms. Giada Piccinini - GWA Senior Tax Advisor, representing GWA local Shanghai office, who delineated the current framework of the Free Trade Agreement between China and the ASEAN Countries arguing the importance of this factor in the China Plus One dynamic.
• Mr. Mario Huangyu - Intesa Sanpaolo Shanghai branch General Manager outlined the bank’s past and present expansion in China and Asia, and shared interesting insights regarding the localization of its client investments in the region.

During the talk, other attendees joined the discussion providing their valuable contributions, including Mr. Pierluigi Gorgoretti - Managing Director of Itema Weaving Machinery (China), who elaborated on the pros & cons of some particular “plus one” countries as a destination for its business, and Mr. Pietro Luigi Ghigo - Lavazza Head of Commercial, who completed the audience’s remarks with insightful contribution from the retail perspective.

Moderated by Mr. Filippo Sticconi - GWA Senior Associate, the event served as valuable forum for discussion and collaboration with participants expressing their appreciation for the opportunity to learn from industry leaders and connect with peers.

To draw some conclusions from the business talk, it has been argued that the market is changing rapidly, and many stakeholders are undergoing structural reorganizations to undertake forms of diversification of their investments. This is for several reasons, such as mitigating geopolitical risks, or for supply chain, logistics, and tax-related optimization. 

In this scenario, China will most likely maintain its central role in Asia and on a global scale. However, more and more companies are implementing a form of the C+1 strategy, and this trend could generate opportunities for many neighboring countries. 

Lack of planning in this respect could lead businesses to a dead-end or slow down their competitiveness on a global scale. On the other hand, moving away from China too much and too fast may be more detrimental than beneficial.

We would like to thank all the attendees for their active participation and insightful contributions to the business meeting.

GWA’s Business Talk will come back after summer with its Singapore and Thailand edition with the same format and limited seats. To know more on GWA read the description below.

ABOUT GWA

GWA Greatway Advisory – established in China in 2004 is a legal, tax and accounting consulting firm with headquarters in Shanghai and branch offices across Europe and Asia (Bangkok, Beijing, Bergamo, Hanoi, Hong Kong, Milan, Saigon, Singapore, and Tokyo).

In GWA they guide foreign companies through the complexities of different regulatory environments and assist them with all aspects of establishing, maintaining, and growing their business operations in Asia and Europe.

GWA team consists of more than 40 international professionals including Lawyers, Tax Advisors and Certified Public Accountants that combine in-depth local expertise and broad experience of the Asian and International business environment, with a keen understanding of the needs of international companies.

For more information about GWA and its services, please visit the website at www.gwa-asia.com.