EUTECH CENTER IN CHINA: THE RIGHT PARTNER FOR YOUR EXPANSION IN CHINA

Sammi Fu Bo

China Center Landing Coordinator

EU Tech Chamber

Sammi Fu Bo

China Center Landing Coordinator

Author Biography

Author has provided no Biography.

The idea and vision of EUTECH Center

There are 4 elements you must always consider for significant growth, that is Innovation, Technology, Cooperation, and Sustainability. Living in the Pandemic, we have realized more than ever the importance of equipping yourself with a futuristic view for sustainable development. Looking outwards for new ways to expand, whether it is a new approach, a new city, or an entirely new country provides you new opportunities. This is where EUTECH Center comes in. EUTECH Center is a strong base, a business safehouse, and a networking hub from which you can build international ventures. The inspiration of the center comes from the Hanseatic League which set up hubs around Europe for predominantly German merchants and traders to use as bases in the countries where they want to conduct business. They offered a collegiate sanctuary where the merchants could relax, network, and plan.

The EUTECH Center is the 21st Century updated version of those hubs but with more sophisticated services and a global vision. The concept of the EUTECH Center is to build a foothold in multiple regions around the world for European companies to land, develop and prosper along its international expansion process. We will offer helping hands from the beginning to the end as well as the hardest time of your business development.

Relying on our global network, rich experiences, and know-how in the global emerging markets, the EUTECH Center Program is dedicated to helping European technology forces tackle the potential challenges encountered when entering a foreign market or in the overall globalization progress through our service tools to achieve successful and sustainable development in the long run. What makes the program even more exciting is that the service portfolio we are providing here in the EUTECH Center in China is free of charge thanks to the generosity of governments and individual donors. You may have some questions in mind, “Am I ready for global expansion?” or “Should I consider going international?” and the answers are you are, and you should. The only thing you cannot afford here is the cost of losing this free opportunity to try out.

Why did we choose the first EUTECH Center in China?

It is almost certain that China is the country we cannot miss in the 21st Century global development. Steady economic growth, advanced technological development, a huge talent pool, and an open mind for international cooperation, this is what China we are witnessing as it grows to be the world’s secondlargest economy. Even with the Pandemic situation, China is on track to achieve economic growth well above its target this year with a controllable inflation level. Having grown by 9.8 percent year-on-year in the first three quarters of the year, it is expected to achieve about 8 percent GDP growth for the whole year. What you can see in China is Vitality, Potential, and Future.

After more than 40 years of rapid development since the “Reform and Opening-up”, China today is going for quality development and with its focus on technology and innovation. This makes the cooperation between China and Europe highly complementary which is proved by the strong resilience and stable development shown in the China EU trade and investment during the Pandemic. The completion of the China-EU Investment Agreement (CAI) also showcased the strong commitment of the decisionmakers from both sides to the new chapter of cooperation. All the above factors have laid a sound foundation for international and European players to step in and be part of the development progress.

A growing consumer base is making the Chinese market more attractive. Few countries in history have modernized at the pace and scale of China. In just a few short decades, the country has transformed itself from an agrarian society with a traditional outlook to a consumer-based society powered by urban development. As China’s manufacturing industry boomed, many rural Chinese have moved to urban centers for work. This has created an enormous market for cars, luxury goods, seafood, mobile phones, etc. Importantly, this transformation is still ongoing. According to McKinsey, threefourths of China’s vast urban population will be middle class by Chinese standards by 2022. That’s up from a mere four percent in 2000. Doing business within China has become easier thanks to a variety of recent reforms. China joined the ranks of the world’s top ten most improved economies for ease of doing business for the second year in a row thanks to a robust reform agenda, the World Bank Group’s Doing Business 2020 study says. China has undertaken substantial efforts to improve the domestic business climate for small and medium-sized enterprises, maintaining an active pace of reforms.

Why do you need EUTECH Center in China?

Maybe the idea of international expansion was part of your business plan, however, a series of potential challenges ahead stopped you from making it into something real. Questions like: How do I set up a company there? What about the legal complications? How to protect my IP rights? Do I have access to local markets? How about the acquisition and management of local talents? And most importantly, how much does it take? Expanding into China which is a country with its cultural background, political system, and ways of doing business that most westerners are not familiar with is not an easy affair, especially for small businesses and startups. But within EUTECH Center, your worries will be removed.

One of the most important considerations is the cost. Here in the center, we are offering you the 8+1 model, eight services freely available to all under the same roof, and the ‘plus one’ is that office space itself. As your business expands its global presence, one of the important considerations is accessible office space. Here in the Center, you are provided with a free office space for business operation within the Center for a period of two years serving a “buffer zone” before your business took off in China.

The office building in the center is designed in line with European standards. Office facilities, such as conference rooms, exhibition places, networking corners, gyms are fully equipped. Meanwhile, our 8 services are everything any business would require, that is Registration Services, Finance Services, Training Services, Supervision, Human Resources, Back Office, IT and Promotion. For registration, we will help the newly arrived companies to set up the legal entity. Even with the Pandemic situation, we can help those companies finalize the setting up procedure digitally and without traveling to China personally.

In terms of Financial Services, the bank account opening, and tax application-related matters will be handled from our end to smooth your business operation process. With training services, our matured local team, as well as the recommended training resources, will be at your disposal for consulting and training of several aspects. Nevertheless, in this overall process, if any problems arise, our Supervision Team and Back Office will be there for you to assist. Additionally, acquiring the right talents and creating a solid team is of great importance for any company. This would be more critical if you are seeking a global presence. Relying on resources from local governments, institutions, universities, and thirdparty recommendations, a talent pool is ready for you to select.

With the above-mentioned services, you are more than ready to start your business there, but what we can do more is to help you with the promotion in the local market. Promotion is the key. There’s no point in establishing people up in a well-appointed and professionally supported office environment if they don’t start speedily setting out their stall and making their presence felt in the host economy.

For newly set up companies in China, the exposure to a wider network of potential partners and clients will be realized through our international and local promotion activities which include online/offline events, exhibitions, matchmaking meetings, topic working groups, delegation trips, and government high-level meetings.

At the same time, a parallel strategy that involves working through a channel partner/ distributor to capitalize on the sales network the partner already built will be also provided. Apart from that, our promotion and marketing tools, such as marketing video productions, social media channels, etc. can also be utilized by the newborn.

Expanding with the right partner can make all the difference during international expansion. Choosing a partner who is originated from Europe and who has a profound understanding of the local markets, then half the battle is won. Accessing potential opportunities in the global market, we look forward to your participation in this program and penetrating the new market successfully.